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American Express Blued denied also

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Valued Contributor

Re: American Express Blued denied also


@trumpet-205 wrote:

For AMEX to pull TU, it means they are not satisify with what's on your credit report. AMEX will pull EQ and TU if they are not happy with your EX report.

 

Basically, what AMEX is saying is that,

 

* $1300 balance on your Capital One is too high per account

* AAoA is too low

* You apped too much credit cards/loans recently 

* Negative things like collection, charge off, and/or lates on your credit report



What are the chance of getting approved if my EQ report is locked? Will they be happy pulling EX & TU only?

Message 11 of 17
Contributor

Re: American Express Blued denied also


@tntexans72 wrote:

@trumpet-205 wrote:

For AMEX to pull TU, it means they are not satisify with what's on your credit report. AMEX will pull EQ and TU if they are not happy with your EX report.

 

Basically, what AMEX is saying is that,

 

* $1300 balance on your Capital One is too high per account

* AAoA is too low

* You apped too much credit cards/loans recently 

* Negative things like collection, charge off, and/or lates on your credit report



What are the chance of getting approved if my EQ report is locked? Will they be happy pulling EX & TU only?


Amex does one of two things, pulls just EX, or pulls all 3. As long as your EX is strong, they will never even look at the other two. If there are issues on your EX, even if your other reports are decent, I would honestly wait for the issues to fall off/be resolved before trying to get in with Amex.


Starting Score: EX FICO: Unknown EQ FICO: 717 TU (CreditKarma): 713
Current Score: EX FICO: 737 EQ FICO: 752 TU (CreditKarma): 717
Goal Score: EX FICO: 760 EQ FICO: 760 TU (CreditKarma): 760


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Message 12 of 17
Regular Contributor

Re: American Express Blued denied also


@Amnesia87 wrote:

@tntexans72 wrote:

@trumpet-205 wrote:

For AMEX to pull TU, it means they are not satisify with what's on your credit report. AMEX will pull EQ and TU if they are not happy with your EX report.

 

Basically, what AMEX is saying is that,

 

* $1300 balance on your Capital One is too high per account

* AAoA is too low

* You apped too much credit cards/loans recently 

* Negative things like collection, charge off, and/or lates on your credit report



What are the chance of getting approved if my EQ report is locked? Will they be happy pulling EX & TU only?


Amex does one of two things, pulls just EX, or pulls all 3. As long as your EX is strong, they will never even look at the other two. If there are issues on your EX, even if your other reports are decent, I would honestly wait for the issues to fall off/be resolved before trying to get in with Amex.



Correction, Amex does one of THREE things:

  • Pull one bureau - likely Experian, but depends on the state you're living in
  • Pull that one bureau AND Teletrack <<< This is what they did to me and it's BS
  • Pull all three bureaus

 

Credit Cards:
| Cabrillo Credit Union MasterCard @ $3,000 | Chevron Visa @ $2,000 | Amazon Store Card @ $1,800 | HSBC 2% Rewards MasterCard @ $950 (redeemed themselves)
Message 13 of 17
Established Contributor

Re: American Express Blued denied also

I have never heard of AMEX ever pulling TU first, unless your EX was frozen, or if they decided to pull all 3 because they didn't like what they saw.

 

As for teletrack... I don't see what's BS about them pulling it. Someone with past problems with a checking account is a higher risk than someone who hasn't. You can complain all you want about it, but if a company has to expose itself to credit risk, it has to consider as much info as possible to make an educated decision. If I had the oppurtunity to lend $100 to one of my friends, and all else being equal I knew that 1 friend had bounced a couple checks before, I would be much more inclined to skip over that person. It's nothing personal, but indicates a higher risk of not being repaid.


Starting Score: 627 EQ, 621 TU - 11/15/08
Current Score: 778 EQ, 781 TU, 778 EXP 07/20/12 Lender Pull
Goal Score: 800 EQ & TU


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Message 14 of 17
Regular Contributor

Re: American Express Blued denied also


@cdtotten wrote:

I have never heard of AMEX ever pulling TU first, unless your EX was frozen, or if they decided to pull all 3 because they didn't like what they saw.

 

As for teletrack... I don't see what's BS about them pulling it. Someone with past problems with a checking account is a higher risk than someone who hasn't. You can complain all you want about it, but if a company has to expose itself to credit risk, it has to consider as much info as possible to make an educated decision. If I had the oppurtunity to lend $100 to one of my friends, and all else being equal I knew that 1 friend had bounced a couple checks before, I would be much more inclined to skip over that person. It's nothing personal, but indicates a higher risk of not being repaid.


ChexSystems is the definitive system for checking account deadbeats.  Guess what? My ChexSystems is clean.

 

IF you want to go one step further, there's Telecheck.  Guess what?  My Telecheck is clean.


If you want to go one step further there's Certegy.  Guess what?  My Certegy is clean.

 

TeleTrack is not about checking accounts.  TeleTrack duplicates data from Experian, which is why AMEX almost always requires an EX pull in California.  It's also believed that they may house certain payday loan data.  Well, a payday loan unpaid is subject to collections which are part of the regular credit bureau.  I have never been in such a situation.  In the rare cases that I took payday loans as a youth, they always got paid, because it debits your account.  Even if I had defaulted on one, it would long since have fallen off of the credit report after 15-some-odd years.

 

The problem is, TeleTrack does not abide by the rules of the FCRA or the FACTA.

 

  • They do not honor Statute of Limitations.  According to AMEX TeleTrack reflects a bankruptcy for me.  None of the other three bureaus do.  That tells me they're retaining the BK I had beyond the statute.  
  • They do not conform to the annual credit report requirement.
  • They do not give scores, even paid scores.
  • They have NO way of requesting a credit report online or via fax.  You're forced to mail in so much sensitive data that your identity could easily be stolen twice over.
  • AMEX does not pull TeleTrack UNLESS the EX comes back clean.  If EX has a collection or a BK they don't even bother with TeleTrack.  That smacks of trying to find an excuse not approve someone.
  • AMEX refuses to pull any other bureau.  Given it's widely acknowledged that one bureau could easily have inaccurate information (as my EX did once upon a time), it's more than reasonable to expect a request to pull TU or EQ.  Had they just pulled TU, they'd see a 100% clean report as it should be.

 

Credit Cards:
| Cabrillo Credit Union MasterCard @ $3,000 | Chevron Visa @ $2,000 | Amazon Store Card @ $1,800 | HSBC 2% Rewards MasterCard @ $950 (redeemed themselves)
Message 15 of 17
Valued Contributor

Re: American Express Blued denied also

How do you know if Amex pull Teletrack or not? This is the 1st time I heard of it...and I've never taking out a payday loan, etc....just want some food for thoughts.

Message 16 of 17
Regular Contributor

Re: American Express Blued denied also


@tntexans72 wrote:

How do you know if Amex pull Teletrack or not? This is the 1st time I heard of it...and I've never taking out a payday loan, etc....just want some food for thoughts.


Amex will tell you on the adverse action notice if they've pulled Teletrack.

 

After more research it appears Teletrack is providing some sort of merged report; contains Experian data plus some of its own related to payday loans and rent-to-own arrangements.  That gives me ammunition, because it means everything on Teletrack was included in my Chapter 13 that's long since gone OR took place over the statute of limitations.  I'm going to clean up the report, but **bleep** Amex.

Credit Cards:
| Cabrillo Credit Union MasterCard @ $3,000 | Chevron Visa @ $2,000 | Amazon Store Card @ $1,800 | HSBC 2% Rewards MasterCard @ $950 (redeemed themselves)
Message 17 of 17
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