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I applied for a CLI, declined because amex hates me, BUT I got the decline notice, and it says this:
Dear jthedges,
Thank you for your recent request for a line of credit increase on your American ExpressÃ’ Card Account.
We regret to inform you that your request has been declined.
Reason(s) for Our Decision
Our scoring of your credit and other relevant information (See below)
We evaluated your application using a credit scoring system that considers various pieces of information including your credit report. The following key factors contributed to our evaluation:
| Your FICO® score (See below) The number of creditors who have reviewed your credit report. The length of time you have been a customer with American Express is too short. |
Information About Your FICO® Score
We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On May 25, 2011, your FICO score was 719. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:
| Length of time accounts have been established. Proportion of loan balances to loan amount is too high. Too many inquiries in the last 12 months |
This is interesting, anyone else get something like this??
hard or soft on EX?
Can I ask you some questions?
1. How long have you been Amex customer?
2. How many INQ before requesting CLI?
3. How much UTI% when requesing CLI?
Yeah got it also, they should be soft pulls.
I believe a new law that goes into effect on 7/31 requires all lenders to provide FICO scores to consumers when they deny them credit.
Your FICO® score (See below) The number of creditors who have reviewed your credit report. The length of time you have been a customer with American Express is too short. |
Seems like Amex has an objective criteria that you did not meet. Why do you say they "hate" you?
Just a note, I applied with PNC for a student loan and they quoted my TU at 734, in a range of 309 to 839... The score doesn't say FICO, it just explains what a FICO is. When my quarterly monitoring came in (literally one day later), it was TU 744...
@Anonymous wrote:Can I ask you some questions?
1. How long have you been Amex customer?
2. How many INQ before requesting CLI?
3. How much UTI% when requesing CLI?
1. Since Sept. 2010
2. 8 in the last 12 months
3. about 7%
@Anonymous wrote:
Your FICO® score (See below)
The number of creditors who have reviewed your credit report.
The length of time you have been a customer with American Express is too short.
Seems like Amex has an objective criteria that you did not meet. Why do you say they "hate" you?
Because I just got out of my awesome FR with them.
@Anonymous wrote:hard or soft on EX?
It had to the be the last time they softed me because the letter was dated June 25th, 2011, but it says the score was from May 25, 2011. There are no hards from them on my report.