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So i just got my denial letter in the mail and it states this as the following reason for my denial;
Your FICO score
The length of time you have been a customer with American Express is too short.
Then i look down some more and it states they used a report from August 22 2012, the application was October 20th 2012... A lot of things have changed in 2 months... think i should bother calling for a recon and getting another hard pull or should i just wait it out? How heavy do they weigh on the fact that i've only been an amex member for about 7 months? I only got the green card to "Get my foot in the door" Don't actually use the darn thing >_<
3rd page already? jeez.
Well, the good news is that since you're an existing card member, the denial was only a soft pull...
If you're wanting to recon this, there have been some threads recently where people had been able to do this successfully, but it's not common. Your scores definitely support you getting the card, but Amex also uses their own internal scoring system that seems to be weighed more heavily than FICO scores.
If you really want this card you have two options: contact them and see if they will consider a recon, or (better yet) use your Green card heavily over the next couple of months to gain a stronger internal history with Amex (right now you have not demonstrated that you have the ability to pay since you've not actually used your Green card) and apply again in January, 2013 to see if you get approved and also get the backdating goodness.
Good luck to you.
@TNTransplant wrote:Well, the good news is that since you're an existing card member, the denial was only a soft pull...
If you're wanting to recon this, there have been some threads recently where people had been able to do this successfully, but it's not common. Your scores definitely support you getting the card, but Amex also uses their own internal scoring system that seems to be weighed more heavily than FICO scores.
If you really want this card you have two options: contact them and see if they will consider a recon, or (better yet) use your Green card heavily over the next couple of months to gain a stronger internal history with Amex (right now you have not demonstrated that you have the ability to pay since you've not actually used your Green card) and apply again in January, 2013 to see if you get approved and also get the backdating goodness.
Good luck to you.
thanks for the advice, i thought that amex no longers backdates? I Called about an hour ago and she said she'd be able to push it through for reconsideration and she did also mention they use an internal scoring system, but my scores have gone up about 30pts since aug 2012. (date of the report they used) so hopefully i get it... i downplayed how much i used my green card, i have used it, just not a lot... maybe a total of $1500 in 7 months lol
I have been a amex customer since 2006.
I applied for a platinum card this year due to the international travel perks,(august) and they backdated the account to 8/2006.
If you are not approved ask for the amex blue. Then try a PC in a year.
GL
Nah, they still backdate primary account holders (you) no problem, and additional card members to the year they were first added.
The stuff you've been reading lately has more to do with "additional card members" having issues getting backdated to the original card member's membership date (Amex changed their policy on this in Nov of last year), or additional card members getting backdated on closed accounts...
Good luck with your recon.
trying not to have my hopes high honestly...
Why did you apply so soon? AMEX backdates. You could have applied any time in 2013 and still gotten the 2012 member date on your new account At least the denial was only a soft pull. If you request a recon, they will HP you.
@TNTransplant wrote:Nah, they still backdate primary account holders (you) no problem, and additional card members to the year they were first added.
^ this. Primary account holders are not affected with THEIR own start date, only Authorized users dont' get backdating.