Amex cards question

[aedny1212]

have a question about American Express and how they evaluate customers.

My wife has a credit score around 730 and doesn’t carry any balances. She constantly receives offers from American Express for new cards.

In my case, I don’t have any negative marks on my credit report and my scores are over 700. However never was late , it seems like American Express doesn’t favor me—they’ve even reduced my credit limits.

and not offers also 

The main difference is that I carry balances across five credit cards, with two of them over $10,000.

Could this be the reason for the difference in how we’re treated? If I pay down or pay off those balances, is it likely that American Express would start extending more offers or increase my credit limits again?

just checking before I pay them off if it's how Amex works  I wanna grow with them back

[beargrease]

Seems like you're talking about two departments at AmEx: marketing and underwriting. Definitely underwriting prefers customers who do not carry balances (and they check multiple bureaus and The Work Number to ensure creditworthiness), so ceasing to carry balances would help you generally and in AmEx's standing. As for marketing, it is strange. My spouse constantly gets mailers from many issuers, including AmEx, while I get absolutely none. My credit is better, I open and close many more cards than my spouse, and I never carry balances as they occasionally do, I've ensured I am marked as open to receiving marketing offers for all the banks I care about, we are on the house deed together, etc. - yet nothing. I realized the major difference is that my spouse has a financial advisor to manage some family money, and I do not. Seems their FA's firm sells their data for marketing.

[aedny1212]

I'm want  more with Amex underwritingnot the marketing. Do they look another banks or specifically on their accounts they don't like balances 

[GZG]

---

@aedny1212 wrote:

have a question about American Express and how they evaluate customers.

My wife has a credit score around 730 and doesn’t carry any balances. She constantly receives offers from American Express for new cards.

In my case, I don’t have any negative marks on my credit report and my scores are over 700. However never was late , it seems like American Express doesn’t favor me—they’ve even reduced my credit limits.

and not offers also 

The main difference is that I carry balances across five credit cards, with two of them over $10,000.

Could this be the reason for the difference in how we’re treated? If I pay down or pay off those balances, is it likely that American Express would start extending more offers or increase my credit limits again?

just checking before I pay them off if it's how Amex works  I wanna grow with them back

---

you're carrying massive balances, that's a huge red flag for any bank, particularly amex

you're at the point where you're getting limits cut/balance chased. amex thinks you will not pay your debts off.

that is a far bigger concern. and you need to pay off the balances and then let a year go by before amex will extend your credit, you very likely wil be denied in the near future from 'we recently lowered your limits, prove to us you can go without carrying high balances for a year' denial reason

[radiofrequencies]

---

@aedny1212 wrote:

have a question about American Express and how they evaluate customers.

My wife has a credit score around 730 and doesn’t carry any balances. She constantly receives offers from American Express for new cards.

In my case, I don’t have any negative marks on my credit report and my scores are over 700. However never was late , it seems like American Express doesn’t favor me—they’ve even reduced my credit limits.

and not offers also 

The main difference is that I carry balances across five credit cards, with two of them over $10,000.

Could this be the reason for the difference in how we’re treated? If I pay down or pay off those balances, is it likely that American Express would start extending more offers or increase my credit limits again?

just checking before I pay them off if it's how Amex works  I wanna grow with them back

---

The carried balances, especially high carried balances, are a huge red flag for lenders because it is a sign that you've overextended yourself financially. That is what caused Amex to take Adverse Action against you when they lowered your limits. Lenders soft pull your credit reports once a month, sometimes more often, to check up on how you're doing. They are able to see all of your accounts and look for things like carried balances, late payments, and collections. If they don't like what they see they'll take Adverse Action by cutting limits and/or closing accounts.

Since you are carrying balances, you should be concerned about paying off your debt so that you stop hemorrhaging money to interest and not worry about offers from credit card companies. Offers will likely return as your credit profile improves.

[FicoMike0]

Unless you're carrying 0% intro offers, carrying high balances certainly indicates risk. The question banks would ask is, why are you paying high interest on large balances? The presumption is, because you don't have the resources to pay it off and can't get a reasonable rate loan to float the balance.

[Thomas_Thumb]

Balance chasing typically happens when large balances are carried over for extended periods of time without significant paydown. Small progress payments around minimum due amounts are a red flag. A side effect of balance chasing is higher aggregate utilization that often results in a reduced credit score.

It is also possible an algorithm tagged you as a potential bust-out fraud risk due to the quantity of cards with carryover balances.

Get those balances down and try to pay atleast 3x the minimum due every month until paid off. Pay off a couple low balance cards. Wait 6 months and then pursue CLIs.

Questions - Doesn't AMEX have among the highest APRs? Why focus on AMEX? Consider a couple low APR credit union cards.

[BrutalBodyShots]

The profiles of strict Transactors (like your wife) and Revolvers (you) are viewed dramatically differently. One is essentially no risk, where the other is seen as an elevated risk especially if you're talking high carried balances or many of them across multiple accounts. Lending decisions would of course be impacted based on those different approaches, all other things being equal.

[SusanJA]

It's hard to tell. Are there any other key differences, like age and reported income? Maybe they just want more women?

[FicoMike0]

Want more women? Could be, I noticed my local bank branch is all women.