Credit decline

[Anonymous]

I had a credit card application declined by AMEX. I thought my FICO score was high enough (685 and 700), but it appears that it wasn't that...

Over 3 1/2 years ago, I had a bankruptcy and I have been diligently doing my best to rebuild my credit. AMEX cards were involved in the filing.

I suspect I will suffer a setback due to my poor judgment in applying. I have several questions:

--How much of a ding can I expect from this decline?

--With renewed diligence on my part, how long should it take me to recover?

--Does AMEX ever, ever approve a new credit card in a situation like this?

--How many years should I wait to reapply? (I was hoping for an AMEX Costco card, and was lulled into taking a chance, against my better judgment, by the AMEX salesperson on chat.)

Thanks for any and all responses.

bluer moon than usual 215

[Anonymous]

Sorry the denial. Are you sure they pulled your cr? Sometimes they don't pull it if you are on the dreaded 'blacklist'

[youngandcreditwrthy]

Oooooo...
I bet the sole reason for decline is BK
The ding will be dependent on how many inqs/new accts you already have.

I'd say a 5-10 point drop...not too bad. Keep your head up; your FICOs are lookin' good!

I'd:
A. Pay them in full
OR
B. wait 2.5 to 3.5 more years 😔

[LisaJ]

Amex forgave me after an unpaid CO, and took me back, but it took more than 10 years. I'm not sure if I could have gotten approved prior...I never tried until last week.

[Anonymous]

The only ding is the cost of 1 inquiry, usually 5-15 points, but may vary for different people and also depends on how many inquiries you already have on file.

It can take a couple years at the very least. Try getting rebuilder cards or secured cards for now.

It depends on whether they blacklisted u. How much did u burn them for? Are u sure they even pulled a report for you?

It depends if you are ever off the blacklist if you are on it. If you are not on it, wait for more time after your bk and get other cards in meantime. If you are on blacklist, repaying bad debt might help u get off it (I AM NOT SURE ON THIS). Hopefully someone can answer you on this. Do you qualify for their oasis cards?

[Anonymous]

What is oasis card?

[Anonymous]

There's 2 versions of oasis if I'm not wrong. One being an earlier product they had but discontinued.

Another version for people who burned Amex in the past and are rebuilding. There is some stipulation to qualify for it as its part of Amex settlement with the government