AMEX Closed by Credit Grantor 9/2019 - No Balance

[SFO-Tokyo]

Hello, everyone.  I have been lurking and could not find 2024 threads on this issue. Thank you for reading, and thank you in advance for your insight.

In 2019, my earnings dropped. AMEX closed all my six cards.  No balance, no late payments. Yet I still cannot pre-qualify after 60 months. The closures dropped my scores.  Too scared to look then.

Do you think it's safe to try to apply for an AMEX again, or shall I wait another year or more?

Thinking of the Delta AMEX.

Current Scores:

780 EQ FICO 8

786 EX Vantage Score 3.0 (Chase)

765 TU FICO (Bank of America)

Bank of America did not close my two (2) cards. 45K CL on Travel and 27K CL on Cash Rewards.

Everyday Use Card:

13K CL Chase Explorer - I pay off as I go, and pay in full what's left on the statement.

Sock Drawer:

27K CL Bank of America Cash Rewards
21K CL Discover It

7K CL Venmo

7K CL US Bank

7K CL CapOne Williams-Sonoma

[FireMedic1]

Have you tried the pre-qual or call to find out what it takes. AMEX no matter how the relationship ended is tough to get back in. Ask the CSR if you could try the Optima program.

https://card.americanexpress.com/d/pre-qualified-offers/?utm_mcid=&utm_source=google&utm_medium=cpc&... 

[SFO-Tokyo]

Thank you, @FireMedic1 for the advise.  

I have tried to pre-qualify again today, but AMEX is not ready to take me back that way just yet!

Will subscribe today to get myFICO scores and perhaps garden a bit before I call AMEX.

[SilentTraveler]

I am trying to understand what caused Amex to close your accounts.  Having a drop in income does not automatically result in the closing of all accounts.  How was the income drop reported to Amex?  Was it disclosed when applying for new credit?  Or was it the result of a Financial Review?  It appears that Amex considered the drop in income to be a serious infraction.  Especially with them not allowing you back in 5 years later.  From my limited experience with Amex, it sounds like it was a Financial Review and they considered the original credit was obtained with fraudulent information.  If it was a true decrease in income, and you could provide the documentation, they should have just lowered your credit limits to reflect your lower income.  

Can you let us know more information?

[SFO-Tokyo]

Thank you for taking time to write.

It was substantial drop of income.

What I did not mention in my original post was my mortgage! No late payments though.

In other news, I subscribed to myFICO Premier and will  watch score grow a bit.

780 EQ

769 TU

775 EX

[GreatLife]

How did Amex become aware of your decreased income? 

[SFO-Tokyo]

Five years ago, we refinanced mortage.

Also both Chase and Bank of America asked to update income.

I still get that from time to time and I update when need be.

[Thomas_Thumb]

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@SFO-Tokyo wrote:

Hello, everyone.  I have been lurking and could not find 2024 threads on this issue. Thank you for reading, and thank you in advance for your insight.

In 2019, my earnings dropped. AMEX closed all my six cards.  No balance, no late payments. Yet I still cannot pre-qualify after 60 months. The closures dropped my scores.  Too scared to look then.

Do you think it's safe to try to apply for an AMEX again, or shall I wait another year or more?

Thinking of the Delta AMEX.

Current Scores:

780 EQ FICO 8

786 EX Vantage Score 3.0 (Chase)

765 TU FICO (Bank of America)

Bank of America did not close my two (2) cards. 45K CL on Travel and 27K CL on Cash Rewards.

---

Perhaps AMEX thinks your total available CL is high enough and adding to it represents a risk.

Applying for a cobranded AMEX might work. Others have successfully gained access to AMEX that way.

Otherwise consider shedding a couple never used sock drawer cards to make room for AMEX (may work but often does not)

[SFO-Tokyo]

Thank you so much for your time and advice @Thomas_Thumb.

I will keep reading as well.  So much to learn, and to think back in the day I first became a homeowner, I know nothing much about credit scores.

Wishing you a wonderful weekend.  I shall work on my signature info.

[sjt]

How did amex know about your income reduction? Did they do a Financial Review?