How is Amex risk score calculated?

[Red1Blue]

Does any one how is Amex risk score calculated? When I applied for jetblue card it is declined with the message risk score is high? How can we reduce that risk? Any suggestions?

[Anonymous]

I suggest you call the backdoor number for amex and talk to a CSR. When I received my denial I called the number and the very friendly CSR told me exactly what needed to be fixed for my approval and when to apply again.

[FicoTron]

what were some examples of what they told you?  what was your score at the time?  I am really interested in applying but want to make sure all of my ducks are in a row

[Anonymous]

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@FicoTron wrote:

what were some examples of what they told you?  what was your score at the time?  I am really interested in applying but want to make sure all of my ducks are in a row

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FicoTron I know you werent talking directly to me but I may be of some assistance. My reason for denial was score too low. 580 EX (I kind of already knew I was going to be denied but urged by an AMEX rep to go ahead and apply and if nothing else I'll be told what I need to fix) for the Zync. I called and they told me they wanted to see more credit history and a score somewhere in the mid 600's. Hopefully that helps some.

[doublespaces]

I'm hoping to get approved for a Zync with a 700's fico but some 30 day late payments...

[flyingmd]

I dont think anyone can really answer the question as it is not general knowledge. However, there are certain recurring themes with AMEX and their approvals/denials. AMEX apparently does not like short credit historys, too many inquiries, and recent lates. They also tend to run from people with BK and CO on their report. People on this board have been approved with FICOs' in the 600's and denied with FICO's in the mid 700's. So obviously it is just not about the score. Would be very interesting to know how the various credit comonents are weighed by them but I think the factors I mentioned appear to weigh heavy in their decision process/internal score. Anybody have any additional info or insight??

[Anonymous]

My girlfriend with an AU on her parents card and one card of her own (806 EQ) was instantly approved for zync.. Kind of obvious i think.. I'm thinking of encouraging her to go for Gold PR but I'm not sure if she'll get it.. No baddies and because of her parents AU 8 year AAoA even though she got her first card 6 months ago.

[sheaoaurus]

Does anyone know if they factor in a history of high utilization?  I have two credit cards (limit $2500) and have a three year history with both cards. No baddies on my report. I was turned down last year for to many inquiries and high utilization. I PIF last month, but I have seen instances on this forum where people have been denied because of a history of high utilization.  I'm going to the Gold btw.

[FicoTron]

well, I have decided not to apply right now because I don't think I would be approved..here is the situation with my CR... one 30 day late over 6 years ago, one charge off 4.5 years ago, AAoA over 7 years, 2 open CC's 1 year each.  EQ fico= 652....I plan to pay off the charge off but I doubt the 30 day late will still factor, and I am just now hitting the year mark on my rebuilder cards...if I applied now, I'm sure I would be denied.

[LTomBerry]

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@sheaoaurus wrote:

Does anyone know if they factor in a history of high utilization?  I have two credit cards (limit $2500) and have a three year history with both cards. No baddies on my report. I was turned down last year for to many inquiries and high utilization. I PIF last month, but I have seen instances on this forum where people have been denied because of a history of high utilization.  I'm going to the Gold btw.

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What your util is at the time you apply is much more important than the past. Your FICO score is based on current util so if you PIF your score will go up immediately when the next statement posts. Past balances do not figure into your score.