Got AmEx SPG Rejection Letter today...

[Omri]

I applied for both Chase CSP and AmEx SPG cards on the 7th of this month. I got approved for the CSP, and just got the rejection letter for the SPG card today.

Looking at my report and my score, I'm really surprised I got rejected. The rejection letter says my EX FICO was 742. My EX shows 7 inquiries in the past 2 years (including both of the ones on 11/7), with 4 in the past year (again, including both of the recent ones). Inquiries was the main thing I was worried about, but it doesn't really look that bad.

One of the things I'm confused about is under "key factors that contributed to your FICO score," one item listed is "Too few accounts currently paid as agreed," despite that I always PIF every month, and my EX report shows no lates, no baddies, etc. It also says "Amount of credit available on accounts" under the factors that contributed to their evaluation, despite the fact that my total credit limits add up to $25,300 (although the $5,000 sapphire isn't on my report yet). Well, I guess the $7,500 Capital One Cash Rewards card I got in October may not have reported yet either at that time, though it's on there now...

I'd like to recon this decision, but given the two new 11/7 inquiries (and one previous one was on 10/8), and knowledge that AmEx does another HP (not a big issue though, I'm about to start gardening for about a year), I'm worried about the outcome. Does anyone have any advice, thoughts, or sweet soothing words?

Edit: Oh, and not sure if it's relevant, but I do have an AmEx online high-yield savings account. Would bringing up that I bank with them help my chances of a successful recon?

[koalablue]

Seems strange that you didn't get the card, though the SPG is a tough one to get.  I was approved for the BCP and SPG last month, but I'd been denied for the BCP three times - I got the PRG in July.  It can't hurt for you to call and recon - your score was higher than mine (724).  It also wouldn't hurt to mention your Amex account, though I don't know that it would help.  If you got an Amex charge card and then reapplied for the SPG in 4 or 5 months, I think you'd have no problem getting it. Good luck!

[distantarray]

Chase and Amex doesn't seem to like if your not experienced using multiple cards. I know Chase doesnt just for the fact my friend has only 1 card and $2500 on his discover and only gave him a measely $500 limit on the recon line that's exactly what was stated.

[Cadillac-XTS]

I would call for recon as well.

[Omri]

Sigh... I called up, and just got foreign call center script-readers who did nothing but read the reasons I already had right in front of me. I didn't seem able to contact anyone who could actually make any decisions or have any power, so I just asked them to look over it again =/

I'm not optimistic about the outcome. I see people on these boards with recon success stories all the time, but this seemed like a major pain and was incredibly frustrating and seemed unproductive. I've heard people say American Express has good customer service, but I certainly haven't experienced it at all.

[djrez4]

Amex Exec - 800-297-6196

Try them.  They'll at least tell you what's possible and what you have to do.

However, don't get your hopes up.  Amex only recons if there's an error of some sort - i.e. they used an old report or pulled someone else by accident.  The reason my Amex recon was successful was because my biggest limit card was not reporting to EX for some reason.  They didn't see it and denied for lack of revolving, which was BS.  I faxed in an EQ report that showed the account and they approved.

[Omri]

I tried that the day I applied after I learned I had been rejected, and they said that's not what they do there and that they don't even have access to the information about my application. They then re-directed me to app status. And my hopes are definitely anything but up right now D:

Whatever, I'll just let this thing go its course and not worry about it if the recon fails, which it most likely will. Any more action/phone calls probably won't be worth the further frustration they'll induce.