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So I was approved for a PenFed Visa with a 20K CL but my Costco AMEX was rejected for the following reasons:
High utilization of credit lines or insufficient utilization information (Experian)
Ratio of the highest account balance to the sum of the balances on all accounts (Experian)
Proportion of loan balances to loan amount is too high (Experian)
Ratio of your card account balances to your income is too high, or cannot be determined(Experian)
As some back ground. I currently have a USAA Mastercard with a 21K limit with about $200 on it and an AMEX Platinum with about $800 on it. I've been an AMEX member since 2000. My credit reports have nothing bad on them with scores in the 770 range. Never been late and always paid on time. Personally (and I only bring this up due to the anonymity) I have approximately $200K in education debt, another $75K in auto loans. I gross approximately $25-35K per month. I was initially turned down for the Platinum card (had a gold card already) when I applied online. I ended up calling AMEX, they did another application and immediately told me I was approved with no questions asked.
My question is what should I do next? I really want the Costco card more than the Plat card and if I would likely close the Plat card or have it reduced to a gold card again. I think based on my income most of the reasons listed above are bogus.
Is there a specific way to go about the recon or just call the application number.
It was really weird with the Plat....I applied online and they gave me six reasons why I wasn't approved. When I called a person to inquire and reapply his response was "of course you've been accepted". What's different about the algorithm when you call vs online app? He didn't ask me any additional details that I didn't answer online.
Kind of bizarre!
P.S. That Costco AMEX will be mine!
@Anonymous wrote:Is there a specific way to go about the recon or just call the application number.
It was really weird with the Plat....I applied online and they gave me six reasons why I wasn't approved. When I called a person to inquire and reapply his response was "of course you've been accepted". What's different about the algorithm when you call vs online app? He didn't ask me any additional details that I didn't answer online.
Kind of bizarre!
P.S. That Costco AMEX will be mine!
Hehe. Like the attitude. I had to call AMEX to get approve after an initial decline. I told the CSR I have high FICO scores. She went on to explain other score model AMEX uses, and later offered to have my application MR'ed. It was approved a day later. Sometimes it all depends on who takes your call. The CSR may override some things to get one approved.
Wow...harsh. I called the new accounts department and the guy was rude. He stated it can't be reconsidered, their decision is their decision and that's their final decision.
Betchya USAA will give me an AMEX that I can use at Costco and I guess I have no need for any real AMEX products
@Anonymous wrote:Wow...harsh. I called the new accounts department and the guy was rude. He stated it can't be reconsidered, their decision is their decision and that's their final decision.
Betchya USAA will give me an AMEX that I can use at Costco and I guess I have no need for any real AMEX products
Message Edited by idmd on 10-23-2009 08:35 PM
Dang that was harsh. You probably shouldn't have called the new accounts departments. That's probably why he was rude. There should be a recon number to call.
@DI wrote:
@Anonymous wrote:Wow...harsh. I called the new accounts department and the guy was rude. He stated it can't be reconsidered, their decision is their decision and that's their final decision.
Betchya USAA will give me an AMEX that I can use at Costco and I guess I have no need for any real AMEX products
Message Edited by idmd on 10-23-2009 08:35 PMDang that was harsh. You probably shouldn't have called the new accounts departments. That's probably why he was rude. There should be a recon number to call.
No kidding.....I was **bleep** dude doesn't that $450 fee get at least a little kindness? Doesn't get me much else!
@Anonymous wrote:
@DI wrote:
@Anonymous wrote:Wow...harsh. I called the new accounts department and the guy was rude. He stated it can't be reconsidered, their decision is their decision and that's their final decision.
Betchya USAA will give me an AMEX that I can use at Costco and I guess I have no need for any real AMEX products
Message Edited by idmd on 10-23-2009 08:35 PMDang that was harsh. You probably shouldn't have called the new accounts departments. That's probably why he was rude. There should be a recon number to call.
No kidding.....I was **bleep** dude doesn't that $450 fee get at least a little kindness? Doesn't get me much else!
I didn't catch the reason why you want that particular card. I have the AMEX Blue Cash. I don't like AF's. I may have too many cards.
Well my goal is to get my life simplified to the PenFed Visa for gas (we drive a lot), USAA Mastercard because they always have shown us luv, and an AMEX product for use at Costco. I'd prefer to get the Costco AMEX and close or reduce my stupid Plat.
I noticed in the section that has "back door" numbers it says that you need a current credit report with the account number - the account number is always partially blocked out. How do I get that?