Application for AmEx Gold declined, should I go for Green?

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JoeyJon
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Application for AmEx Gold declined, should I go for Green?

Postby JoeyJon » Sun Feb 12, 2012 10:10 am

I was just declined an American Express Gold card today. The denial information on the site says my FICO is 736. They said:
We evaluated your application using a credit scoring system that considers various pieces of information, including your credit report. The following key factors contributed to our evaluation:

  • Length of time accounts have been established (Experian)
  • No recent record of bank or retail revolving accounts. (Experian)
  • Amount of credit available on accounts (Experian)
  • Delinquency reported on accounts (Experian)
BTW, I don't have any deliquencies.

Anyway, I am just starting out with my credit. If I call them tomorrow (closed on Sundays),

1) could I ask them to apply me for an American Express Green card?
2) When being declined on a Gold card, do they automatically see if I qualify for Green, and would have told me that during the denial?
3) Would they do another hard inquiry if I ask them if I could be approved for the green card, knowing I just applied for Gold yesterday?


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Postby Money card » Mon Feb 13, 2012 12:14 am

If I read your question correctly you said you are just starting out. Does this mean you have no credit card? 1 credit card with no rewards, just a store charge card like Macy's or Lord & Taylor, or a Orchard credit card If you have something what is it?

I would wait at least a couple of months, since the account mgr in the application department specifically said you don't qualify for a gold. I would wait and then you can reapply for the gold or apply for a green. you should definitely not rush.

JoeyJon
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Postby JoeyJon » Mon Feb 13, 2012 3:03 am

I have a student capital one journey card. It gives cash back rewards. I have had it 2 months with a $500 credit limit.

The account manager didn't say anything. The computer said it will take a few days to process. Then in my e-mail was a letter linking me to the site to say I was declined.

So I was wondering if calling them and telling them I would be happy with a green card might work?

JoeyJon
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Location: Chicago

Postby JoeyJon » Mon Feb 13, 2012 10:19 pm

Well, I got approved today for a Chase Freedom card, so that is exciting. I was a little concerned because the computer said approval pending. I called and the CSR said I had to speak with the "Verification Department." I was transfered to them and they verified my identity. I moved a few months ago and it set up a flag. He told me the limit would be revealed in the welcome package and card when it arrives. I am excited!

I tried calling Amex do see if they would approve me for a green card. I made the mistake of calling the number of the rejection screen. I was transfered to India and spoke to a lady who seemed to have no decision making powers at all. She basically read the rejection letter word for word off of the screen and that was it. She had stock answers to all mt questions... "You are welcome to apply again in the future."

So know I have a Capital One Journey card with a $500 limit about 3 months old and the new Chase Freedom card that is coming in the mail.

The Capital One Journey card is a student card, but it gives you access to a free site that shows you your credit score and breaks down every catagory that affects your credit and gives you a letter grade for each category and advice on how to improve each category in your credit.

I wanted the Amex because it is a charge card, and my credit counselor site said having a mix of credit, charge, and loans helps improve your credit. I have an "A" in every category except "number of accounts" I have an F. So the new card will help with that, and the added credit line will improve my score, too!

Now I don't care as much about the Amex. I might try calling again on one of the backdoor numbers listed on this site just for the heck of it, otherwise I can just wait maybe 6 months and try again. I want the "Member since 2012." So I don't know, what do you think, should I call?

I want a great credit score by the time I have to take out student loans in a year / year and a half.

Thanks for all of your advice, plus I reccomend the Capital One Journey card for people starting out. It is supposed to be a student card, but they never verified anything about my school. It has a huge interest rate, but that doesn't matter because I keep utilization around 15% and pay the entire balance every month. It is a reward card, too! The free credit counseling site is awesome as well. It is a lot like the CreditKarma site, but much more informative and custom tailored for my finances.

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Postby Money card » Mon Feb 13, 2012 10:21 pm

JoeyJon I would wait. had you asked this question, the day you applied for the gold, if you get turned down could you get a green card then that would be a good idea. but since you didn't I would wait 2 or so months and then you can do whatever you want.

you have a student capitol1 journey you are fine for right now correct? look at it this way you have a credit card, some people only have charge cards like Kohls and Target. You will get something better so don't worry.

I don't think telling them you would be happy with a green will get you the card. had you said that the other day then yeah maybe it could have worked. what I would do is wait a while then apply for the card of your choice.



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