Received AMEX denial letter

[shasta]

I applied for the AMEX delta gold a couple of weeks ago and was instantly denied. I called for a recon and was told I would have to wait for the letter for an explanation.

Well, here's what it said:

"My fico score- Experian 647 is too low."

"My debt with other creditors relative to the available credit as indicated by Experian"

"The length of time you have been a customer with AMEX is too short"

"The number of creditors who have reviewed your credit report"

OK, my situation is, all credit cards are paid off, with one reporting 9% balance. I have about $20000 in student loans, but they are current and in good standing. I have no other debt besides a consolidation loan, which is not reporting. So, how could AMEX say my debt is too high?

I was an AU on an AMEX gold since 2005, but I have had my Zync on my own for 10 months. Is 10 months not long enough?

I only have 3 hp inquiries in the last 12 months, about 6 in the last 2 years. Is that still too many?

My final question is, should I write a letter and dispute, or is there no point?

[dodgerslv]

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@shasta wrote:

I applied for the AMEX delta gold a couple of weeks ago and was instantly denied. I called for a recon and was told I would have to wait for the letter for an explanation.

Well, here's what it said:

"My fico score- Experian 647 is too low."

"My debt with other creditors relative to the available credit as indicated by Experian"

"The length of time you have been a customer with AMEX is too short"

"The number of creditors who have reviewed your credit report"

OK, my situation is, all credit cards are paid off, with one reporting 9% balance. I have about $20000 in student loans, but they are current and in good standing. I have no other debt besides a consolidation loan, which is not reporting. So, how could AMEX say my debt is too high?

I was an AU on an AMEX gold since 2005, but I have had my Zync on my own for 10 months. Is 10 months not long enough?

I only have 3 hp inquiries in the last 12 months, about 6 in the last 2 years. Is that still too many?

My final question is, should I write a letter and dispute, or is there no point?

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Sorry to hear about your denial but from what i have read here its hard to recon with AMEX. The good thing is that it was only a SP since you are already a member. You dont any other CC other than AMEX? Maybe they wanna see at least a year of credit (and to them AU doesnt factor much into that).

[youngandcreditwrthy]

I'd say a recon letter wouldn't serve you well as your FICO is too low.
Get it to at least 680, then re try:-)

[navigatethis12]

20000 could be a lot depending on the income you put down. Student loans are debt too.

[dodgerslv]

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@youngandcreditwrthy wrote:
I'd say a recon letter wouldn't serve you well as your FICO is too low.
Get it to at least 680, then re try:-)

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+1....I just reliazed that his score probably play a big factor also. I got denied back in August with a 673 EX score. You may wanna try for one of their regular charge cards first since those seem easier to get next time you try.

[shasta]

Income is around 24k

I have a cap one cc with 750 limit/ 65 balance

[dodgerslv]

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@shasta wrote:

Income is around 24k

I have a cap one cc with 750 limit/ 65 balance

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As i see it not much of revolving credit then. You may wanna try one of their charge (green) cards next time. Those seem easier to get. Plus like it was said, 640's is too low for Amex (especially for their revolver cards).

[boomhower]

You can try a recon but I don't think it'll happen until that FICO is north of 680.

[a3quit4s]

Low income and the credit score got you for sure. Work to a 680-700 like previously stated and give it another go.

[youngandcreditwrthy]

I had $36k in student loans and 696 TU FICO when approved for bce but a nearly six year old revolving history.