Applied to PRG, got rejected

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
8 posts
Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Applied to PRG, got rejected

Postby Elijahmex » Tue Sep 08, 2015 2:34 pm

Hello ladies & gentlement,

Last February I moved to NY and started the whole Increase your credit process. It's been 6 months now, all I have is one account with Capital One and 1 CC with them. I checked my credit score TU: 708 EQ:702 and the other one I don't know it.

It says my CC Utilization is EXCELLENT (the first two months I maxed out my CC, last 4 months I used 10% of my available credit), Payment History EXCELLENT (always PIF before due date), Derogatory Marks FAIR (bc of some non paid bills back in 2010), Age of Credit VERY POOR (understandable) & Total accounts VERY POOR.

I applied for a PRG today and got denied.
I would love to have an AMEX (I travel A LOT for work) but at this point my history is too short. When do you think I should re apply?

Should I open another CC account b/c apparently having just 1 CC does not look good? I use my CC for groceries, gas and restaurants here & there.

Sometime next year I want to get a loan for business reasons. I want my profile to look good so what are some things that I can do?


Basically I just want my numbers to look good for when I apply for a loan. So far I think I am doing alright. Back in February my Credit was at a very low 580 & today im at 708.
Image


ingramjuan
Centurion Member
Centurion Member
 
Posts: 266
Joined: Thu Nov 20, 2014 5:32 pm
Location: EARTH

Re: Applied to PRG, got rejected

Postby ingramjuan » Thu Sep 10, 2015 10:15 pm

I applied for a PRG today and got denied.
I would love to have an AMEX (I travel A LOT for work) but at this point my history is too short. When do you think I should re apply?

Should I open another CC account b/c apparently having just 1 CC does not look good? I use my CC for groceries, gas and restaurants here & there.

Sometime next year I want to get a loan for business reasons. I want my profile to look good so what are some things that I can do?



I understand where you are coming from. Possible you can call AMEX to do a recon, ask Capital One for a CI. Also from my experience I would suggest waiting a few months prior to applying for another card. Usually the AMEX Green Card you can get easily. (Its A Charge Card)
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes

Nixon
Centurion Member
Centurion Member
 
Posts: 1078
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Re: Applied to PRG, got rejected

Postby Nixon » Thu Sep 10, 2015 10:20 pm

Put a call into reconsideration. :lift:
Image

Vermonster
Centurion Member
Centurion Member
 
Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Applied to PRG, got rejected

Postby Vermonster » Fri Sep 11, 2015 7:42 pm

ingramjuan wrote:Possible you can call AMEX to do a recon, ask Capital One for a CI. Also from my experience I would suggest waiting a few months prior to applying for another card. Usually the AMEX Green Card you can get easily. (Its A Charge Card)


Amex doesn't normally recon unless there was something inaccurate on your application or report. And all Charge cards from Green to Platinum have the same underwriting, so a denial for a PRG is a denial for a green.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3756
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Applied to PRG, got rejected

Postby CarefulBuilder14 » Sat Sep 12, 2015 3:44 pm

When you say you maxed out your credit card a few months ago, did you go over the limit? Or just very close to it? Issuers often do report a card's high balance, even if it's a mid-statement balance.

1. You're probably already opt-in for credit offers by default, which is good in your case. If you're currently opt-out, change that. Go to optoutprescreen.com and opt in. Amex does occasionally mail good signup offers to prequalified customers. If you do get a special prequalified offer from Amex, it will be an indication that your odds are better, but you don't absolutely need one to apply.

2. Wait to see what Amex's reasons are for denying you PRG. It could be an insufficiently short history, or only experience with one low CL, or the fact you had very high utilization only a few months ago.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Re: Applied to PRG, got rejected

Postby Elijahmex » Sun Sep 13, 2015 12:08 pm

CarefulBuilder14 wrote:When you say you maxed out your credit card a few months ago, did you go over the limit? Or just very close to it? Issuers often do report a card's high balance, even if it's a mid-statement balance.

1. You're probably already opt-in for credit offers by default, which is good in your case. If you're currently opt-out, change that. Go to optoutprescreen.com and opt in. Amex does occasionally mail good signup offers to prequalified customers. If you do get a special prequalified offer from Amex, it will be an indication that your odds are better, but you don't absolutely need one to apply.

2. Wait to see what Amex's reasons are for denying you PRG. It could be an insufficiently short history, or only experience with one low CL, or the fact you had very high utilization only a few months ago.


I did not go over the limit, just got very close to it. I had just moved to the US and had many expenses the first 2-3 months. My credit was close to 690 and went down almost 30 points. From that moment I never used more than 15% of my credit & always PIF way ahead of time and my SC improved drastically. I recently joined the 700 club.

I am sure the reason why they denied me is because of short history. I am waiting to see the report!
Also I only have one credit card account, that might be another reason why I was denied. I am currently looking to open a new account but there are so many CC out there, its a little overwhelming.

One question though, when I applied for the PRG and got denied, did that have a negative affect on my credit score or will it remain the same?

Thank you all for your answers!!! :oooo
Image

Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Re: Applied to PRG, got rejected

Postby Elijahmex » Sun Sep 13, 2015 12:10 pm

CarefulBuilder14 wrote:When you say you maxed out your credit card a few months ago, did you go over the limit? Or just very close to it? Issuers often do report a card's high balance, even if it's a mid-statement balance.

1. You're probably already opt-in for credit offers by default, which is good in your case. If you're currently opt-out, change that. Go to optoutprescreen.com and opt in. Amex does occasionally mail good signup offers to prequalified customers. If you do get a special prequalified offer from Amex, it will be an indication that your odds are better, but you don't absolutely need one to apply.

2. Wait to see what Amex's reasons are for denying you PRG. It could be an insufficiently short history, or only experience with one low CL, or the fact you had very high utilization only a few months ago.


Thanks for that tip. I just did it!!
Image

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3756
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Applied to PRG, got rejected

Postby CarefulBuilder14 » Sun Sep 13, 2015 12:37 pm

Elijahmex wrote:I am sure the reason why they denied me is because of short history. I am waiting to see the report!
Also I only have one credit card account, that might be another reason why I was denied. I am currently looking to open a new account but there are so many CC out there, its a little overwhelming.

One question though, when I applied for the PRG and got denied, did that have a negative affect on my credit score or will it remain the same?

It is good that you didn't go over your limit.

The denied PRG application generated at least one credit inquiry. It had a small, temporary, negative effect on your credit on each report that Amex pulled.

Having one account with presumably a low limit may have been a big factor. I don't know if the length of your credit history was. I got a mailed PRG offer with just 6.5 months of history. I had a $600 individual card and a $2000 joint card at the time, though.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests