How well do folks fair with AMEX recon?

[Anonymous]

I'm looking to apply for the Cash Magnet card in the fall(Sept maybe for Oct use.)

I recently took a forward-thinking step and got a credit builder loan. It temporarily dropped my TU score from 707 to 687 according to Barclay's scorecard. Presumably this is due to AAoA and loan balance of $500/500(may be other factors if they checked standing balances too. now paid....)

The score(s) should bounce back if the unpaid(mid-month) CC balances are a factor and the loan balance will be less but i'm not sure that's enough to impress AMEX insta-check for approve/deny

Anyone had luck with recon? "Bueller...."

[Anonymous]

Amex is not known for recons. I’ve seen rare instances where they will take a second look and overturn the initial decision, but that’s not common. 

[Anonymous]

Although they do allow you to plead your case and they can resubmit it for manual review. There are not too many success stories here of AMEX overturning a denial. But I am sure there are some success stories out there. We just haven't heard of them yet. Now as for your intent to apply in the fall. I think that is a good enough time to allow your recent loan to age and once it shows some positive payment history, then you are more likely to get some favorable results. You should stick to your existing plan, and don't app for anything before then, and more importantly before applying with AMEX. Check if you have any pre-approved offers. Best of luck! 

[Adkins]

I didn't have any luck with recon, the first time I applied for Amex. I waited another 3-4 months and got approved for the PRG. 

[Anonymous]

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@AnonymousThanks all for confirming with a resounding "no"

 wrote:

Although they do allow you to plead your case and they can resubmit it for manual review. There are not too many success stories here of AMEX overturning a denial. But I am sure there are some success stories out there. We just haven't heard of them yet. Now as for your intent to apply in the fall. I think that is a good enough time to allow your recent loan to age and once it shows some positive payment history, then you are more likely to get some favorable results. You should stick to your existing plan, and don't app for anything before then, and more importantly before applying with AMEX. Check if you have any pre-approved offers. Best of luck! 

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To your last point, I checked their prequal form for cashback cards a few days ago and I "qualify" the Magnet card now. I'm going to wait until  the fall when the loan matures a bit. I know those prequals are a solid *maybe*

[Anonymous]

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@Anonymous wrote:

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@AnonymousThanks all for confirming with a resounding "no"

 wrote:

Although they do allow you to plead your case and they can resubmit it for manual review. There are not too many success stories here of AMEX overturning a denial. But I am sure there are some success stories out there. We just haven't heard of them yet. Now as for your intent to apply in the fall. I think that is a good enough time to allow your recent loan to age and once it shows some positive payment history, then you are more likely to get some favorable results. You should stick to your existing plan, and don't app for anything before then, and more importantly before applying with AMEX. Check if you have any pre-approved offers. Best of luck! 

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To your last point, I checked their prequal form for cashback cards a few days ago and I "qualify" the Magnet card now. I'm going to wait until  the fall when the loan matures a bit. I know those prequals are a solid *maybe*

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As far as prequals, they are pretty solid, but I wouldn't apply just because I already qualified for the card. You may get an approval, but may also not be the best terms with SUB, APR's etc. If you have already projected to apply in the fall, I'd suggest sticking to that schedule, because not only are you aging your accounts, you are also setting yourself up to better odds of getting the approval, plus with the best terms available once you get approved for it. I too have some plans applying for a Visa, but I am holding off until December to apply again and that is still a maybe. 

[Anonymous]

Would it be possible to immediately pay down the outstanding balance on the loan to 8.9% or less.  If you did you can expect a 30-35 point increase in your scores.

[morgacj2004]

I never had success. But when I finally did get back in the flood gates opened. They go by a definite set of rules and rarely seem to bend them.

[woodyman100]

Pizza1 just got a simply cash on recon😁

[pizza1]

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@woodyman100 wrote:

Pizza1 just got a simply cash on recon😁

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LOL!! Im still in shock, Im currently holding the card, and rubbing it like my lucky rabbits foot, LOL.

https://ficoforums.myfico.com/t5/Business-Credit/AMEX-Simply-Cash-Plus-APPROVED-2k-on-recon/m-p/5306...