got denied the everyday amex any tips ?

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marlonbishop
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got denied the everyday amex any tips ?

Postby marlonbishop » Fri Aug 15, 2014 12:34 am

Hi!

a few days back i applied for the american express everyday card. i got denied for several things on my credit. then i applied for a Chase sapphire preferred which i got instant. approval. should i call a reconsideration line with amex?
here are the reasons they said:

1. derogatory public record or collection filled.
2. too few acts currently paid as agreed (1)
3. length of time have been stablished

and they gave me a score of 645 and when i applied for my discover they said in the report i had 723.

any help or tips?
BoA Cash Rewards $4000
Macy's $1000
Discover it $5000
Chase Sapphire Preferred $5000
Chase Freedom $2000
Amex Green NPSL
Amex Gold Premier Rewards NPSL

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popamode72
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Postby popamode72 » Fri Aug 15, 2014 1:44 am

Amex isn't the kind of credit card company that's likely to do recons at all. I'd just work on the reasons you got rejected for the card and try again at another time and getting especially #1 and #2 taken care of as soon as you can if those rejection reasons are accurate. Have you checked your credit report that they pulled from to make sure there isn't any inaccurate information or mistakes?

Also, congrats on your approval with Chase. You seem to already have some pretty nice cards there IMO.
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MemberSince99
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Postby MemberSince99 » Fri Aug 15, 2014 6:44 am

Amex typically will not reconsider unless there is an error on your reports. I've tried numerous times for reconsideration with them and never once was successful. Not to say it never, ever can be done, just that it's not easy or likely as a rule.

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 15, 2014 11:08 am

marlonbishop wrote:they gave me a score of 645 and when i applied for my discover they said in the report i had 723.


How long ago did you apply for the Discover?

If it was recently, then there may be a difference in what history the different credit bureaus have on record.

It you got the Discover several months ago, are you having larger balances report at the end of each cycle? Or were the derogatory marks more recent?

I think 723 to 645 is a bigger drop than can be reasonably attributed to two inquiries.
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mikegyver
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Postby mikegyver » Sat Aug 16, 2014 11:31 am

From my experience Amex can often be the hardest issuer to get cc from. Although the good news is they seem pretty good with giving chances. I would let things age a little bit. I've seen people with similar reasons for the decline and then get approved for Amex 3 or 4 months later so its possible. Make sure there aren't any in-accurate items on your reports also.

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Aug 16, 2014 12:33 pm

mikegyver wrote:From my experience Amex can often be the hardest issuer to get cc from. Although the good news is they seem pretty good with giving chances. I would let things age a little bit. I've seen people with similar reasons for the decline and then get approved for Amex 3 or 4 months later so its possible. Make sure there aren't any in-accurate items on your reports also.


Are the MR-based ED cards harder to get than the Blue Cash series?

You can go the charge card route to build a history with Amex, but I'm not sure a 645 would get you one.
I don't know how much another 3 or 4 months of history will help when there are derogatory marks (assuming they don't get removed one way or another). A FICO can't rebound that quickly.
It should help a little to have the CSP reporting to boost the number of accounts paid as agreed.

My EX FICO at the time I got my BCE was 721 and I got the absolute highest APR the card comes with. Unless you can get your FICO up a lot, one way or another, I don't know how smart it would be to go after an Amex ED card in the near future.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

marlonbishop
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Postby marlonbishop » Sat Aug 16, 2014 6:32 pm

Im going to wait till possibly next year and apply again when i see a better score on my fico from discover.
BoA Cash Rewards $4000

Macy's $1000

Discover it $5000

Chase Sapphire Preferred $5000

Chase Freedom $2000

Amex Green NPSL

Amex Gold Premier Rewards NPSL



Find me on MyFico: Sapingo (if you see me say hello)!

MemberSince99
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Postby MemberSince99 » Sat Aug 16, 2014 7:59 pm

Please note that Amex only looks at your EX score which may be totally different from the TU score that Discover gives you (as you saw).
So the score Discover gives you, while valuable, is not what Amex is going to see or use.


And to all the nitpicky people out there, yes I do realize if you are marginal they MAY pull all 3 and then see TU, but that's only if you are marginal and not their "normal" way of doing it.


It sounds like what is really holding you back is the baddies they mentioned. If you can get these off your report, your odds of approval would be a lot higher. I'd work on that, and when you are successful, apply with them again. The sooner you can establish your Member Since date, the better for backdating.

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Aug 16, 2014 9:21 pm

I know Amex is pretty open to giving a charge card to someone fairly new to credit with 6-8 months of perfectly clean history and reasonable income or assets.

Is there any general guideline - for someone with a longer but imperfect history - of a FICO at which it is reasonably possible (say, a 25% chance of success) to get a charge card?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
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Letting new accounts cool off since May
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Redsox911
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Worth a recon call?

Postby Redsox911 » Wed Dec 16, 2015 3:27 am

This is situation and I feel it may be fruitless but would really love to get an AMEX Delta Skymiles card since I'm doing a decent amount of traveling on Delta in the upcoming months.

So in 2005 I filed for Chap. 7 Bankruptcy, and at the time I did not include my Amex green card in the process because I was hoping to retain 1 card. Well, soon after my bankruptcy became official Amex yanked my card anyway due to this. Fast forward a little over 10 years and my credit is now quite decent aside from a couple high ratio balances and I apply 10 days ago for the AMEX Delta Gold Skymiles card. Immediately I receive the notification that they will need to look into this app and that I will receive an email when the decision is made. About 3 minutes later I receive the email and log into the Amex site where it says my app was "DECLINED" because my previous account was closed by AMEX.

Would it be a complete waste of time to call the reconsideration line and see if anything can be done to get an approval for this?

Thanks for reading!!

RS911



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