rejected by AMEX ED when showing approval on PreQual.

[Anonymous]

I was very surprised when I went to AMEX preQual page and put in the info. i figured they r welcoming me with open arms and asking me to come on In.  Per their PreQual i qualified for Amex Green, Amex ED and AMEX cashBack.

First timer for AMEX and not ever on their BLACKLIST before. 

Instead, upon app they rejected me and asked if i would be interested in a PREPAID CARD from AMEX?//

EX score is 650 per their standard letter with excuses why they rejected. EXPerian bureau shows 709 Fico8.

is it worth a RECON? i m so mad at rejection it got personal for me? wont ever trust AMEX again. They had special offer of 15 mos 0% APR balance transfers and thats what got me in.

In fact, on EX i have 0% utilization and very few revolving accounts (3) plus 2 Inq on EX in 12 months. AAoA of 9 years

cap1 with $1200 limit zero balance,

PayPal with $300 limit $4 balance and

Kohls with zero balance. (recently opened  in jan 2018). 

My profile is a CASE STUDY of being all  good yet NOT EXACTLY WORTHY OF AMEX. what a SHAME.

Very few revolving accounts and zero balances on them are a  shame to AMEX. Go figure.

[Gmood1]

Sorry for your denial. Amex isn't known for recons. Do you use your current CCs?

And do you allow the usage to report ? Reporting zero usage isn't exactly a welcoming sign to the banks. They want to make money on either swipes or balances being carried.

This is my own personal opinion. If you want these banks to follow you. You have to show them you are predominantly a non-cash purchaser. What good is a person to them with even 800 credit scores, who pays with a debit card or cash most of the time? Those aren't the customers CC lenders want.

[Anonymous]

I would still call. You have nothing to lose.

[Anonymous]

you are absolutely right.

It was such a misnomer that when you actually payoff balances on your revolving cards you are considered good/excellent credit. An ideal Profile is

Low Utilization

Not many inquiries

Heavy Usage and PIF

Not many new Accounts opened in last 6 months

FYI: Heavy usage has been for 24 months and PIF before applying for amex.

All of the above is true about my profile and yet rejected. O that ugly feeling you get when rejected. ....i felt it.

doing the right thing SUCKS...is what this means.

No wonder why BAD BOYS BAD BOYS are so much loved by ??????

[Gmood1]

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@Anonymouswrote:

you are absolutely right.

It was such a misnomer that when you actually payoff balances on your revolving cards you are considered good/excellent credit. An ideal Profile is

Low Utilization

Not many inquiries

Heavy Usage and PIF

Not many new Accounts opened in last 6 months

FYI: Heavy usage has been for 24 months and PIF before applying for amex.

All of the above is true about my profile and yet rejected. O that ugly feeling you get when rejected. ....i felt it.

doing the right thing SUCKS...is what this means.

No wonder why BAD BOYS BAD BOYS are so much loved by ??????

---

Lol.. sorry, you made me think of the old Cops show song. 

The sting will subside. I've had my share of denials. I've never let it hold me back.. obviously. lol

The one thing you've forgotten is just because one lender isn't ready for your business doesn't mean a different one isn't.

You say heavy usage? Heavy usage with whom? Those are the lenders you may want to look at for additional TLs. Especially if you're not allowing your usage to report to the CBs. I'm sure Synchrony will love you!  Capitol one as well.

Come back to Amex is six months, as I believe you'll get what you want. How bout a Discover card on a SP? You've got plenty of others choices.😉

[Anonymous]

So why not accept their offer of a secure card, use it to build a payment history with Amex, then you'll graduate in probably 180 days and have access to most, if not all, the credit and charge cards offered?

As I see it there are several issues at play:

1.  Did you credit scores recently jump?  The EX FICO score used by Amex is usually one month behind the one available directly from the Experian. Alternatively you can always reapply in a few weeks time.  The letter you got should tell you the date of the credit pull used by Amex.  So going forward you know the approximate monthly date when they soft pull your score. So one month from the date of the score in the letter would be enough to ensure your current score is now available to them.

2.  A 640-650 EX FICO score is usually as low as Amex would accept and they would typically extend a $500 CL and several conditions referred to in these forums as "credit steps."  Your Cap1 and PayPal credit lines are  barely above what Amex offers as their minimum CL so your should be able to understand why they are reluctant to approve you for the ED card. 

---

@Anonymouswrote:

I was very surprised when I went to AMEX preQual page and put in the info. i figured they r welcoming me with open arms and asking me to come on In.  Per their PreQual i qualified for Amex Green, Amex ED and AMEX cashBack.

First timer for AMEX and not ever on their BLACKLIST before. 

Instead, upon app they rejected me and asked if i would be interested in a PREPAID CARD from AMEX?//

EX score is 650 per their standard letter with excuses why they rejected. EXPerian bureau shows 709 Fico8.

is it worth a RECON? i m so mad at rejection it got personal for me? wont ever trust AMEX again. They had special offer of 15 mos 0% APR balance transfers and thats what got me in.

In fact, on EX i have 0% utilization and very few revolving accounts (3) plus 2 Inq on EX in 12 months. AAoA of 9 years

cap1 with $1200 limit zero balance,

PayPal with $300 limit $4 balance and

Kohls with zero balance. (recently opened  in jan 2018). 

My profile is a CASE STUDY of being all  good yet NOT EXACTLY WORTHY OF AMEX. what a SHAME.

Very few revolving accounts and zero balances on them are a  shame to AMEX. Go figure.

---

[lexus829]

I had to do a manual review on mine which is an HP..... you should call it in...

[RicHowe]

---

@Anonymouswrote:

I was very surprised when I went to AMEX preQual page and put in the info. i figured they r welcoming me with open arms and asking me to come on In.  Per their PreQual i qualified for Amex Green, Amex ED and AMEX cashBack.

First timer for AMEX and not ever on their BLACKLIST before. 

Instead, upon app they rejected me and asked if i would be interested in a PREPAID CARD from AMEX?//

EX score is 650 per their standard letter with excuses why they rejected. EXPerian bureau shows 709 Fico8.

is it worth a RECON? i m so mad at rejection it got personal for me? wont ever trust AMEX again. They had special offer of 15 mos 0% APR balance transfers and thats what got me in.

In fact, on EX i have 0% utilization and very few revolving accounts (3) plus 2 Inq on EX in 12 months. AAoA of 9 years

cap1 with $1200 limit zero balance,

PayPal with $300 limit $4 balance and

Kohls with zero balance. (recently opened  in jan 2018). 

My profile is a CASE STUDY of being all  good yet NOT EXACTLY WORTHY OF AMEX. what a SHAME.

Very few revolving accounts and zero balances on them are a  shame to AMEX. Go figure.

---

I realize you are looking for the BT offer, but with the EX Score they pulled, you might have been approved for a co-branded card like the Delta, SPG or Hilton, which would have gotten your foot in the door. AMEX bank-issued cards have higher underwriting standards than the co-branded cards.

Don't give up on AMEX yet.

[Miner]

<EXPerian bureau shows 709 Fico8.>

Does EX really give fico and not fako scores which can be very different from each other? Just asking since I've never got them and was wondering.

[Anonymous]

Some banks use a different EX score for their UW standards instead of Fico8. Some use their own internal risk scoring system for UW.