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What should I do if declined by a weird reason?

rayyyyy_20
Established Member

What should I do if declined by a weird reason?

Hi guys,

 

I just got declined for AMEX Platinum card. The reason is interesting...

 

The amount currently outstanding on your American Express account(s) is too high relative to the income you provided on your application.

 

I really have no idea about that... 

 

My current FICO scores are: EX 724, EQ 731, TU 714... And AMEX just started to SP my credit report twice a month. At the point that I applied for Platunum Card, My EX FICO was 719 and I have already had 2 AMEX Credit Card: Marriott Brilliant (CL 3100) and EDP (CL 2000)... However, those cards have been maxed out (3000/3100 and 1300/2000)  by 3 air tickets and my car insurance renewal. I just planned to repaid those balances before the statement cuts but i still got declined for Platinum card...

 

Is there anyway can help?

 

Thanks!



22 REPLIES 22
seattletravels
Valued Contributor

Re: What should I do if declined by a weird reason?

Not really a weird a reason. Sounds like you applied when you have other cards at 90%+ utility. I'd pay those off if you can and then possibly request a recon.


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Message 2 of 23
Steve891
Senior Contributor

Re: What should I do if declined by a weird reason?

Your Amex ultilization is very high at the moment. 97% on your Marriott card and 65% on your EDP. You should pay them down or off and try again in a few months. 




Message 3 of 23
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: What should I do if declined by a weird reason?

I agree, it's not weird. Your applying for a card that is required to be paid in full each month, but your 2 other cards with them are maxed out. Based on your income, they don't believe you can pay them and the Platinum off.




Message 4 of 23
Jnbmom
Community Leader
Senior Contributor

Re: What should I do if declined by a weird reason?

It's not weird, you have 2 cards with them , both with high balances and they don't feel comfortable extending you more credit.

 

Pay your balances down and try again in 6months or so.

EXP 758 TU 783 EQ 729
Message 5 of 23
rayyyyy_20
Established Member

Re: What should I do if declined by a weird reason?

It's not hard for me to pay off those debt at all... I used to pay off my debt to 1% utilization before statement cuts... Will a recon causes a HP?



Message 6 of 23
rayyyyy_20
Established Member

Re: What should I do if declined by a weird reason?

Emmm I have paid off those debt... but how long should i wait? because i some big purchase to make and i wanna use that card so that i can earn the SUB...



Message 7 of 23
Steve891
Senior Contributor

Re: What should I do if declined by a weird reason?


@rayyyyy_20 wrote:

It's not hard for me to pay off those debt at all... I used to pay off my debt to 1% utilization before statement cuts... Will a recon causes a HP?


You can call the application status line 1-800-567-1083 for them to review your application. Recon chance is slim with Amex. Should still be a SP.

 

I would wait until your payment reflect on your credit report. Wait 3-4 weeks after Amex update your FICO score on their site to reapply because Amex uses the SP of your report that lags behind. 




Message 8 of 23
AverageJoesCredit
Mega Contributor

Re: What should I do if declined by a weird reason?

Just want to add that its often a mistake to think Amex will give another Amex because one has so and so Cards from them already. Having one Amex doesnt mean another is easy to get nor does it mean sp approval either. As much dps we have on Amex, everyones experience is still ymmv and very profile specific, imho.
Message 9 of 23
GeePee
Regular Contributor

Re: What should I do if declined by a weird reason?

Pay down your high utilization, then wait a couple of cycles to report (with the new lower balance). Check the pre-qualified cards on your account page and if your desired card pops up, go for it.

Regardless, high utilization is always a red flag for every lender.

 

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