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AMEX info- Talked with approval rep for half hour


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Whats up everyone, I thought I would let you know how to avoid an inquiry if you not likely to get approved.

I apllied for an AMEX online, I do not know which one, but when they first reviewed my CR in Jan. they denied me because of 1 paid CO and 1 non paid Collection from last year, I had since gotten them deleted, so I called back and the lady that I spoke to right after I got the deletes told me to send in a copy of my updated report, before doing that I called the approval department and spoke to someone else, and I asked specifically if those negatives were gone , " what are my chances", she said I would say they are pretty good, but we should probably just run your report again. So I agreed to run it again, only because of her encouraging words, so then she says she forwarded the application to a supervisor to review and to call back in a couple days.

So I called back, and the Sup. told me they cannot give me my card, so I got into a lengthly discussion about why. The Sup told me that if you open 3 accounts in 1 year, it almost automatically gets you denied, I had like 3 or 4 inquiries in the last 6 months. And another interesting twist was that I only put my income down at $50,000, and their are 2 AU accounts on my CR and the limits added up to $17,000. Then I told him they were not responsibiltity, so he stuck with the 3 accounts being opened as the main reason..But before I told him I was just an AU on those accounts, he said "you listed 50,000 as your income, and your credit limits currently add up to $25,000, we do not like the chance of someone going into debt that would equal 50% of their income.

Now that sucked because one of them was CRAP1, the other a store card at Robinsons May and a Zales card. So CRAP1 is screwing me in the backend. I would give them up for an AMEX anyday.

Another interesting Tid-bit, they really have no actuall way of verifying income, they say they can get an idea from payment history but really have no firm way to confirm it. The income you list, if you get approved, determines the credit limit, with some other factors.

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Sorry to hear about that. AMEX is very finicky about credit limits initially. Show you can spend alot and make large payments and that credit line will increase rapidly. Once you ask for more than 25K on any one card, that is when they have been known to freeze (all) your amex accounts (personal+biz) until you provide financial documentation that your stated HH income is actually true. Up to 25K and AMEX will not require you to prove your income.

Other lenders set the bar a little higher (MBNA, BofA, Citi) before requiring financial docs.

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Mazda B-Series (International) history

Edited by sjsharks
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