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Update Update
I sent AMEX an email asking why they declined me due to my payment history . I received the response that I was actually declined do to security reasons. The email said they needed me to call the number on back of my card and speak with an actual rep.
I'm guessing its becuase I have an extended fraud alert on my credit reports.
We shall see . I plan to call when I get home after work today.
Wish me luck.
@clocktick wrote:Did you purposely leave $800-1000 on it instead of paying it off?
I had the money to pay but chose not to take it out of my savings. Some things at work(hiring freezes,talk about pay cuts, etc.) had me trying to hold on to my savings.
Please keep us updated.
My 60 days will be at the end of this month.
My first statement cut halfway through my first month, and I paid the statement balance at this month's due date. Now I had a statement balance of 8K and plan on paying that balance at the next due date. I don't like the balances reporting on my CR, but I figured this is how its supposed to be done anyway, so I'm hoping for the best when I ask for my CLI.
@scottwagnon wrote:i still am one of those that seriously dont believe this idea that amex has an aversion to carrying a balance. i just think they are more sensitive about it. its about profitability and risk level.
Thats how I felt to.
@cdtotten wrote:I have never had a problem carrying a balance on an AMEX revolver, and have had 3. As long as I paid my bill on time, they didn't care. I even got a CLI once while carrying a balance. They want to earn interest income, or they go out of business quickly, so there shouldn't be an aversion to it.
Every person will have a different experience with AMEX, but to say that they don't want people to use their revolvers is simply incorrect. In AMEX' eyes, the BEST customer is someone who pays his bill off over time, but never misses a payment.
+1 I find it strange Amex would be that way, it is not like the OP is carrying over thousands of dollars on the account, Steffiejoe I wish you luck on the cli and keep us posted
I think the Amex balance myth/belief gets perpetuated because there are so many factors that can be at play, but if someone gets any kind of AA, and they have a balance on their Amex, it reinforces this belief. Plus, this forum is overrepresented by people with borderline scores, either because they are new to credit or are rebuilding. When someone with borderline scores carries a balance, it's a lot different than someone with a clean report carrying a balance. You also have to factor in that a lot of the posts about crazy AA by Amex happened during the credit crunch when all the creditors were shaky.
IMHO, the idea that Amex doesnt want you to carry a balance on a revolving card (especially since, as another poster pointed out, the majority of their cards are revolvers) goes in the same thinking that they dont want you to shop at Wal Mart. I dont buy it, and although there is anecdotal evidence of such, its just that-anecdotal.
It sounds like there is more involved in the OP's decline than just carrying a small balance anyway.
@steffiejoe wrote:
@clocktick wrote:Did you purposely leave $800-1000 on it instead of paying it off?
I had the money to pay but chose not to take it out of my savings. Some things at work(hiring freezes,talk about pay cuts, etc.) had me trying to hold on to my savings.
You might want to check out the Plum Card and you don't have to pay any interest for 60 days. Sometimes , it is good for short term borrowing.
The link:
Ron.
@Anonymous wrote:IMHO, the idea that Amex doesnt want you to carry a balance on a revolving card (especially since, as another poster pointed out, the majority of their cards are revolvers) goes in the same thinking that they dont want you to shop at Wal Mart. I dont buy it, and although there is anecdotal evidence of such, its just that-anecdotal.
It sounds like there is more involved in the OP's decline than just carrying a small balance anyway.
According to the Amex rep who responded to my email , the decline was due to security reasons
I think it has to do with the extended fraud alerts I have on my credit reports. The more I think about it I'm sure that's the issue. I have never requested a CLI on any of my CC's , they are always automatic. So I never encountered this issue before.
I will find out for sure this evening after work, trust me. I moniter my credit reports and they are clear of any negative history.
Just got off the phone with the line of credit dept.
It was my extended fraud alert which triggered the decline. Once I verified my identity my increase was approved!!!
Now my credit line is $20,000.00 .Thanks everyone who responded , this board is amazing!!
I did ask the rep about carrying a balance and he said there is some universal rule(his words not mine) that if you are going to carry a balance you should make sure you pay more then minimum(which I always do). He said it looks good if you PIF before you request a credit line increase.
They don't have to worry , from this day forward I will always PIF...