Denied AMEX Zync?????

[Anonymous]

I applied for a Zync but was denied due to some erroneous information. According to AMEX, I was denied for not having any bank or revolving credit on my EX CR and also for having too many inquires on my TU CR and a charged off account on TU. Now, the funny thing is, I have four (4) revolving accounts being reported with EX and I have only one (1) inquiry on my TU CR within the last year. The charged off account is correct but it was from 2005 and I have made countless efforts to have this matter cleared up; but I have had no success and I have proof of my attempts. So I was very confused. I pulled my CRs and the correct info was showing...nothing unusual or that I didn't already know. So I called the AMEX Executive Office and spoke to a very friendly lady and she said that she would have it reviewed and contact me back within 24-48 hours. Well, 72 hours later and I still have yet to hear anything back. I checked the AMEX website and it still shows as "Declined." I offered to send her a copy of my CRs, but she said that it was not needed. So what should I do? Has anyone had this problem with being declined and having incorrect information showing? I am wondering if I should send a Recon letter with a copy of my CRs.

Thanks for your help everyone.

[clocktick]

So are you saying the charged off account is really from a different year?  What are your actual FICO scores?  How many inquiries do you have for the last two years?

[daylove]

your scores are too low..Amex needs better numbers than what you got.

[smc733]

Do split files ever occur on EX as they sometimes do on EQ?  Some people may know that.

PM me who you spoke to at the exec office, I'm curious who it was, there's a small group that works there (I dialed the number and I got the lady who helped me 3 of the 7 times I called, w/o the extension).

Anyway, the typical action for Amex is that if they don't like what they see on an EX pull, they pull all three.

For example, my history with Amex has been:

Amex Zync (6/10) - Declined (all 3)

Amex Zync (9/10) - 4506 needed (all 3)

Amex Zync (3/11) - 4506 needed (only EX)

So YMMV, perhaps the exec office woman had the day off, or something.  Give them a call back and ask for a follow up on Monday.  They resolved an issue for me within a couple of hours, so perhaps their correspondence with new accounts got delayed.  (Amex new accounts isn't run too well).

[Anonymous]

@clocktick - I only have one (1) charged off account and that was from 2005 and I have three (3) inquiries within the last 2 years with one of those inquiries being within the last year (the other 2 inquires from when I purchased my car). The only thing that I am saying that came up wrong on the denial from AMEX was the inquires and the fact that they are saying that I have no revolving accounts on my EX report. Also, the scores in my siggy are correct as of 11 June 2011.

@daylove - I have seen people get approved with lower scores than I have and with worse CRs than I.

@smc733 - I have been following you and I have seen your success. I'll PM you shortly on the name of the rep that I spoke with. And I will also follow up with them on Monday. Thanks for your input.

[Anonymous]

A couple of notes on credit scores and Amex.  First of all, no one knows how accurate the "FICO scores" are that are reported in this forum.  The numbers may be accurate but they may be FAKO and not FICO.  And maybe the numbers are not accurate at all. So scores when provided by any of the hundreds of posters that comment here should always be accepted with some healthy skepticism.

Secondly, Amex seems to have their own risk assesment algorythm so while one person with a true FICO score of 680 might be accepted by Amex for a card, another with a true FICO score of 695 might not be.

So YMMV  

[Anonymous]

"@daylove - I have seen people get approved with lower scores than I have and with worse CRs than I."

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Maybe a fluke then because I was trying to get an AMEX in the upper 600s and lower 700s and they denied me each time.

After I had that PAID tax lien removed the first time they finally approved me, but my score was showing mid 700's at that point and I had pretty much nothing negative on my report except the hits for applying for the AMEX.

[tinuviel]

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@Anonymous wrote:

A couple of notes on credit scores and Amex.  First of all, no one knows how accurate the "FICO scores" are that are reported in this forum.  The numbers may be accurate but they may be FAKO and not FICO.  And maybe the numbers are not accurate at all. So scores when provided by any of the hundreds of posters that comment here should always be accepted with some healthy skepticism.

Secondly, Amex seems to have their own risk assesment algorythm so while one person with a true FICO score of 680 might be accepted by Amex for a card, another with a true FICO score of 695 might not be.

So YMMV  

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I may be one of those people being referenced as one who was approved with a low score. The scores in my sig are my actual FICOs, purchased from here. The EX score was a FICO pulled by a financial institution, so as far as I'm aware, it's a true FICO.

Given my recent spate of approvals with only mediocre scores -- including an approval for an Amex Green -- I've come to the conclusion that lenders do, indeed, look at more than just the scores. I have a reasonably long credit history, and an impressive amount of residential and employment stability. The stability aspect is not factored into FICO scores, but lenders do look at it. For whatever reason, Amex liked what they saw. Everyone's credit profile is different, so YMMV.