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Thread: So wait, what?

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    Centurion Member Snowman's Avatar
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    Default So wait, what?

    So remember when I applied for an amex last week (bad decision by me, and I should have waited.) When you guys told me to wait longer, lesson learned. Anyways I got my letter today from them, here is what it says:

    Reason(S) for Our Decision:

    Federal regulations prohibit us from approving applications that are taken over the phone from applicants who are under the age of 21. Because of this we cannot accept applications over the phone from under the age of 21.

    Please apply again online at www.americanexpress.com/apply. If our information about your age is incorrect, please call us ***-***-**** so we can update your information and process your application. Thank you for your interest in American Express Cardmembership.

    An important notice concerning your rights is included. The creditor is American Express Centurion Bank.

    So basically they would not approve me because I am 19? I didn't know you had to be 21 to become an Amex member. And also I applied online and not over the phone, so I'm a bit confused.
    Cards And Credit History
    Bank Of America: BankAmeriCard Cash Rewards (3% Gas, 2% Grocery, 1% everything else). 4/25/12-1,000$ (CLI Increase on 6/15/13)
    Citi: Forward (SM) Card (5x points on Restaurants, bookstores, music stores, video rental stores, movie theaters, 1 point for everything else.) 10/27/12-3,000$ (SP CLI 2/8/14)
    Discover: More. 10/27/12-1,500
    Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
    Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
    Future Cards
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    It has something to do with CARD Act. People under 21 either have to have a certain income on their own or they have to have a coapplicant. I do not remember what that income requirement is....that stupid CARD Act. What a pain.
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    Centurion Member Snowman's Avatar
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    Well I have 12,000 on my own, I mean does that should I try reconning again or is that going to be a lost cause? I had previously tried calling AMEX, but they could not really give me a concrete reason for my denial. When I got the letter in the mail, I was like huh? I mean I can understand because of my short history, no a lot of income etc. But my age? there are people here on this forum that have gotten Amex's at 19-21. And I didn't apply through the phone, but rather online...
    Cards And Credit History
    Bank Of America: BankAmeriCard Cash Rewards (3% Gas, 2% Grocery, 1% everything else). 4/25/12-1,000$ (CLI Increase on 6/15/13)
    Citi: Forward (SM) Card (5x points on Restaurants, bookstores, music stores, video rental stores, movie theaters, 1 point for everything else.) 10/27/12-3,000$ (SP CLI 2/8/14)
    Discover: More. 10/27/12-1,500
    Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
    Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
    Future Cards
    Marriott Premier Rewards
    American Airlines AAdvantage Gold
    Chase Sapphire Preferred
    Fidelity Amex
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    http://www.bankrate.com/finance/cred...od-credit.aspx

    Under provisions of the Credit Card Accountability, Responsibility and Disclosure, or CARD, Act of 2009, consumers under age 21 who can't prove an independent means of income -- or provide the signature of a co-signer aged 21 or older -- won't get approved for credit cards other than as authorized users on their parents' accounts. (Most of the act's provisions are effective Feb. 22, 2010.)
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    Centurion Member Snowman's Avatar
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    David- I have income, I make 12,000 (projected income for this year.) working 2 jobs, but I go to school full time as well. I got my BOFA card using my income last year which was 4,200, and my current CL on that card is 700. I'm still lost, because I didn't know I could be denied due to my age. I mean I understand if it was over short history, income, etc. but never through age, I just thought you had to be 18 since I got my current card as well right before I turned 19, and I had income then as I have income now. I don't have a co-signer when I got my current card either.
    Cards And Credit History
    Bank Of America: BankAmeriCard Cash Rewards (3% Gas, 2% Grocery, 1% everything else). 4/25/12-1,000$ (CLI Increase on 6/15/13)
    Citi: Forward (SM) Card (5x points on Restaurants, bookstores, music stores, video rental stores, movie theaters, 1 point for everything else.) 10/27/12-3,000$ (SP CLI 2/8/14)
    Discover: More. 10/27/12-1,500
    Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
    Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
    Future Cards
    Marriott Premier Rewards
    American Airlines AAdvantage Gold
    Chase Sapphire Preferred
    Fidelity Amex
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    Quote Originally Posted by Snowman View Post
    David- I have income, I make 12,000 (projected income for this year.) working 2 jobs, but I go to school full time as well. I got my BOFA card using my income last year which was 4,200, and my current CL on that card is 700. I'm still lost, because I didn't know I could be denied due to my age. I mean I understand if it was over short history, income, etc. but never through age, I just thought you had to be 18 since I got my current card as well right before I turned 19, and I had income then as I have income now. I don't have a co-signer when I got my current card either.
    Different lenders have interpreted the CARD Act different ways. Citibank used to be awesome and would allow product changes etc with no questions asked. After CARD Act they would state that they could no longer change the product due to CARD Act etc. Some lenders are being overly cautious....it seems AMEX must have a certain income requirement or they saw that you didn't pay rent and threfore, figured you are dependant.

    Please remember CARD Act and the Durbin Amendment etc when voting in November. The Dems have turned the bank industry upside down because of the mortgage crisis. The Dems were the same ones in the early 2000s demanding that banks give mortgages to low income and minority borrowers in the first place. Yes the banks were greedy, but duh, when aren't banks greedy? With CARD Act et al the Dems catered to the idiot sheep that Americans are by smacking the banks on the wrists and now we have CARD Act. It is too bad Americans are irresponsible jack arses that cant handle their own affairs and go to congress to complain.
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    Quote Originally Posted by Snowman View Post
    David- I have income, I make 12,000 (projected income for this year.) working 2 jobs, but I go to school full time as well. I got my BOFA card using my income last year which was 4,200, and my current CL on that card is 700. I'm still lost, because I didn't know I could be denied due to my age. I mean I understand if it was over short history, income, etc. but never through age, I just thought you had to be 18 since I got my current card as well right before I turned 19, and I had income then as I have income now. I don't have a co-signer when I got my current card either.
    I understand you have 2 part-time jobs, and that's commendable while going to school full-time, but the language of the CARD act refers to how you need to be independent which you can't be if you only make $12,000 per year. In order to apply, you will need to live outside of your parents house paying rent/utility bills/expenses and be 100% independent - something that I am sure requires more money (that Amex can clearly recognize). Not trying to be harsh, just telling you the way it is...
    Amex Blue Cash Everyday - 22k CL | Chase Hyatt - 15k CL

    PenFed Platinum Rewards - 12k CL | Chase Sapphire Preferred - 8k CL | Chase Freedom - 5k CL
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  8. Centurion Member Snowman's Avatar
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    John- I understand, but then why did BOFA not deny me? I mean I had an even smaller income last year (using gross from last year, which was 4,200), and yet the still approved me. I have seen other people my age that have like 9-10k income and they get approved for the Zync, and other various cards, so why were they not denied either? And I know you're not being harsh, I can understand where you're coming from when you say that. But also, I'm surprised that they denied me on my age. I was thinking it was going to be my income or it was going to be because my history was short.

    CC-Oh I know. There is no such thing as responsibility anymore in this country, it's amazing to see how much our great country has been in trouble and decline over the last decade. I'm not totally dependent, any of my bills (food, gas, phone, books for school, tuition for school, and other various things I've paid myself.) Everything else, my parents pay the bills for my house....
    Cards And Credit History
    Bank Of America: BankAmeriCard Cash Rewards (3% Gas, 2% Grocery, 1% everything else). 4/25/12-1,000$ (CLI Increase on 6/15/13)
    Citi: Forward (SM) Card (5x points on Restaurants, bookstores, music stores, video rental stores, movie theaters, 1 point for everything else.) 10/27/12-3,000$ (SP CLI 2/8/14)
    Discover: More. 10/27/12-1,500
    Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
    Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
    Future Cards
    Marriott Premier Rewards
    American Airlines AAdvantage Gold
    Chase Sapphire Preferred
    Fidelity Amex
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    I think the only way to know what is needed is to contact Amex and ask. Find out what information they need to assume you're independent enough. Maybe talk to you parents about being charged "rent," but they waive the fee for doing certain work (preferably work you already do, lol). Amex doesn't have to know how you pay rent, only that you do. There may be other things like that that may make them change their minds.
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    Centurion Member Snowman's Avatar
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    Well I included that. I generally give my parents about 100 dollars a month (which they use for groceries or bills and what not) and I put that on the app. Is it worth try to contact them and maybe try to recon. Cause when I last talked to them on Friday, they did not really give me a concrete reason. Any bills that are on my name (phone, credit card,) are paid by me and not by my parents, and other things that I choose to buy or anything for school and such is always paid by me. Just household stuff is what my parents take care of. Anything I buy, I spend through my paycheck, not from my parents (i.e. movie tickets, a watch I may like, taking a friend out to eat, that's all paid by me) but as I said I give my parents 100 a month and it is generally used for groceries or other bills.
    Cards And Credit History
    Bank Of America: BankAmeriCard Cash Rewards (3% Gas, 2% Grocery, 1% everything else). 4/25/12-1,000$ (CLI Increase on 6/15/13)
    Citi: Forward (SM) Card (5x points on Restaurants, bookstores, music stores, video rental stores, movie theaters, 1 point for everything else.) 10/27/12-3,000$ (SP CLI 2/8/14)
    Discover: More. 10/27/12-1,500
    Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
    Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
    Future Cards
    Marriott Premier Rewards
    American Airlines AAdvantage Gold
    Chase Sapphire Preferred
    Fidelity Amex
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