How much does relationship with Amex help...

[Imperfectfuture]

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@longtimelurker wrote:

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@Anonymous wrote:
From my experience, relationship makes a HUGE difference. Not only with Amex but other lenders as well.
It's absurd to think that several years as a loyal customer that spends several thousand dollars a year and always pays on time counts for nothing. Of course your overall profile does count but it also counts when you spend lots of cash with these banks. I will NEVER believe that an existing relationship doesn't count... Total BS

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Well, you can look at many many posts that suggest it doesn't.    "Loyal customer" rarely means very much, you tend to have a long-term relationship because you both benefit.   A real loyal customer wouldn't complain when the issuer nerfs the card, cuts your CL, raises your APR and generally treats you badly, that's what loyalty means, and I think you will find very few such people here.

You will see here many examples of people applying for a card from a bank with no prior relationship, whereas others, with a long term relationship, get denied.   Also cards closed "for no reason"  (AMex forum is full of these complaints: :"I;ve been a loyal customer for 25 years and .[Amex terrible thing]"  Other factors predominate.

Most companies today have risk analysis in the short term: is this customer going to be (or continue to be profitable) and is the risk acceptable.    Now a long history of on-time payment could help the perceived risk factor, but any change, suich as one or two lates (as mentioned above) and all bets are off.

It's very easy for any of us to generalize way too much from individual experiences (Card X is easier than Card Y, Bank A hates you carrying balances etc) because we do not know which factors REALLY made the decision go one way or the other.  

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Very well said.  I have been the outlier on what cards supposedly allow (via anecdotal evidence) for a long time.  . If you can not have fun with your credit, why have it?

[Imperfectfuture]

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@Anonymous wrote:

I've wanted an AMEX PRG for a while but can't get one. I wonder if I pay off all of my credit card balances if it will get me over the edge... I'd still have like 30 inquiries and a 30 day late from two years ago, though. 

Regarding the relationship comments... I received a new credit card approval from my credit union with a 570 score based on my "long" relationshipw with them, so YMMV. 

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Yet, you list the old limits in your sig?   (light humor).  Serious,  CU's are different animals, but my first one was quite conservative, only less than 500 in medical collections on report to unsecure card, indeed, YMMV.

[Imperfectfuture]

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@KSK1912 wrote:

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@Anonymous wrote:
From my experience, relationship makes a HUGE difference. Not only with Amex but other lenders as well.
It's absurd to think that several years as a loyal customer that spends several thousand dollars a year and always pays on time counts for nothing. Of course your overall profile does count but it also counts when you spend lots of cash with these banks. I will NEVER believe that an existing relationship doesn't count... Total BS

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I definitely agree with you. Last year, after couple denials thru out the rebuilding process, i finally got approved for a bce with only $500 limit, and $1000 at the card activation, and same day got denied for the PRG. The approval came in mid december. After using the bce and paying off, in april, 3 months later, with no change in the credit score or report, i applied and got approved for the Amex Green Card, Amex PRG, and Delta skymiles. All in one night. So the only thing changed was that i had a little bit of a relation with them. So i think it would be safe to say relationship makes a difference based on the lender. 

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Agreed.  It took some planning for my cli's, apr reductions, and other cards with Amex.  They are more into history than other banks.  However, despite some statements, the same can be said for Chase, Citi, and barclays.  I get treated better the longer I have the cards, more offers, etc.

[KSK1912]

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@Imperfectfuture wrote:

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@KSK1912 wrote:

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@Anonymous wrote:
From my experience, relationship makes a HUGE difference. Not only with Amex but other lenders as well.
It's absurd to think that several years as a loyal customer that spends several thousand dollars a year and always pays on time counts for nothing. Of course your overall profile does count but it also counts when you spend lots of cash with these banks. I will NEVER believe that an existing relationship doesn't count... Total BS

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I definitely agree with you. Last year, after couple denials thru out the rebuilding process, i finally got approved for a bce with only $500 limit, and $1000 at the card activation, and same day got denied for the PRG. The approval came in mid december. After using the bce and paying off, in april, 3 months later, with no change in the credit score or report, i applied and got approved for the Amex Green Card, Amex PRG, and Delta skymiles. All in one night. So the only thing changed was that i had a little bit of a relation with them. So i think it would be safe to say relationship makes a difference based on the lender. 

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Agreed.  It took some planning for my cli's, apr reductions, and other cards with Amex.  They are more into history than other banks.  However, despite some statements, the same can be said for Chase, Citi, and barclays.  I get treated better the longer I have the cards, more offers, etc.

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True, and one data point where the relation has no bearing in an outcome at all. Wells Fargo, at least in my case. I bank with them and last year, i ran probably around $300K thru my checking account, and when i apped for a car loan at the start of my rebuild, they denied me. I got the loan from somewhere else at a very high rate of 25%. I said no problem, paiud it for 11 months, then started getting invitations for a car loan from WF. I said no! Went to a local CU that i had a dormitary checking account with and got it refinanced at 3%. Had a WF secured card with $2500 limit and used it for almost 2 years, never late, maxed and paid off most the time, and after almost 2 years they still did not graduate it even though my fico score came from 500's to 700's. So this was one case that i had no benefit out of my relation with WF at all. I guess how much your current relation effects the outcome of a credit decision also depends on the lender too. 

[Anonymous]

I guess that goes to show you that lending and spending money really doesn't have a connection. You could have a million dollars in an account, have bad credit and can't get a loan on a candy bar...