AMEX Application declined

[davidj]

Recently applied for a Plat. Money Back card, and got the usual rejection letter (2 identical letters actually). In my application I did not mention my current Earth AMEX card; would this have aided my application?

From what I've gathered from this thread I won't be applying for this card again for at least 6 months.

Anyone recently noticed AMEX getting strict in regards to new applications?

 

[NYCguy]

Re: Rejected Application

Anyone recently noticed AMEX getting strict in regards to new applications?

And with credit-limit increases. An Aussie friend whose salary is well into six figures recently asked Amex to increase the limit on his Platinum credit card (which, by the way, is paid off every month), and was declined, again for reasons that they weren't prepared to specify.

Eh, what can you do. Times are tougher - some of the customers who got shiny, metallic-coloured cards in their wallets during the boom are now having trouble meeting their obligations, so everyone suffers.

 

[Evan]

Re: Rejected Application

HSBC rejected me for a small card in Singapore, no reason... Amex gave me another credit card here in SIN (I wanted an SGD card for expenses etc) without any issues at all and a good limit (ie more than my monthly salary)
But then again i do have an Amex Plat chg and credit also in AUD which they know about.
E

 

[wxxnxs]

Re: Rejected Application

And with credit-limit increases. An Aussie friend whose salary is well into six figures recently asked Amex to increase the limit on his Platinum credit card (which, by the way, is paid off every month), and was declined, again for reasons that they weren't prepared to specify.

Eh, what can you do. Times are tougher - some of the customers who got shiny, metallic-coloured cards in their wallets during the boom are now having trouble meeting their obligations, so everyone suffers.

AMEX suck!!!:evil: I got pre-approved card from my professional institution, AMEX only offers me $2k limited, and doesn't allow me to increase in 12 months because of economic cricis, I was told by their CTS all application has been frozen in next 6 months. What a "service"!:evil: Plus AMEX has stoped issuing PIN to the new card holder because they are shortage for cash follow and trying to minimise card holders' cash advance amount.

I have stopped using this card and dont wanner bother in the future, I got fee wavied for NAB velocity and CBA awards cards, both of them offer me $7k, that's enough for me. I don't think I need to cancel that rubbish AMEX card because it is free any way(professional fees includes that)

 

[Diesellife]

Re: Rejected Application

Just received my new charge card today...
Guess charge card is easier to get nowadays?

 

[NYCguy]

Re: Rejected Application

Just received my new charge card today...
Guess charge card is easier to get nowadays?

Dunno if it's easier. Charge cards are probably easier for Amex to control - no big revolving credit-balances for customers to default on.

 

[lovetravellingoz]

Re: Rejected Application

The other point to note of course is that the Global Finacial Crisis is going on..:idea:

This means all credit providers area lot more gun shy than they were a year or more back.

They are a lot more nevous about potential bad debts....and with good reason as bankrupties etc are up......and a risk factor with bakrupticies is people with many credit cards..and on lowish incomes.

 

[oz_mark]

Re: Rejected Application

The other point to note of course is that the Global Finacial Crisis is going on..:idea:

This means all credit providers area lot more gun shy than they weea year or more back.

Hasn't stopped Westpac and Citibank trying to entice me!

 

[Dave Noble]

Recently applied for a Plat. Money Back card, and got the usual rejection letter (2 identical letters actually). In my application I did not mention my current Earth AMEX card; would this have aided my application?

From what I've gathered from this thread I won't be applying for this card again for at least 6 months.

Anyone recently noticed AMEX getting strict in regards to new applications?

iirc, Veda now maintains details of current credit agreements which can be seen by the prospective lenders when applying for credit. If you omitted pertinent information about current obligations, that could have been a cause. Have you made many credit applications in the last year ?

I would phone and ask them whether the reason to decline was based on credit reference report and, if it was, I would recommend getting hold of the reports from Veda and Dunn & Bradstreet to see what is there that could be causing it

If not a credit entry, could be a myriad of reasons such as income, residential status ( renting vs owning ), current cards held, employment status or even industry in which employed

Dave

 

[davidj]

Have you made many credit applications in the last year ?

I would phone and ask them whether the reason to decline was based on credit reference report and, if it was, I would recommend getting hold of the reports from Veda and Dunn & Bradstreet to see what is there that could be causing it

Dave

'

I have made 2 applications within the past year. According to the other older thread, if I ring up, they won't tell me the exact reason, just that it was an "overall assessment" (this is what they say in the letter; perhaps they use a scoring system?).

I might get my report from Veda and see if that sheds any light.

Anyway now that I have been rejected, what is the earliest I can apply again?

 

[Dave Noble]

I have made 2 applications within the past year. According to the other older thread, if I ring up, they won't tell me the exact reason, just that it was an "overall assessment" (this is what they say in the letter; perhaps they use a scoring system?).


I might get my report from Veda and see if that sheds any light

All credit providers assess against their own criteria; this could be viewed as a scoring system, but there is no actual credit scoring system ( fortunately ) from the CRAs in Australia

If the application was declined based on reporting in your credit report, they will tell you that

I would get hold of your Veda and Dunn & Bradstreet reports and see if there is anything there. At the moment, any negative entry on your credit report will make you ineligable for approval

Anyway now that I have been rejected, what is the earliest I can apply again?

If there is no negative entries on your credit report, then it would seem that in your current circumstances you are not of the customer profile that they are looking to extend credit to and there would seem to be little point re-applying for the same account until circumstances change

If there is anything negative, then the day the negative entry falls off is the 1st date on which it would be worthwhile applying. If there is a negative entry that is in error, get it removed and, if it is within (iirc) 3 months of the application, you can contact AMEX and they will reassess

Dave

 

[Keith009]

Re: Rejected Application

Dunno if it's easier. Charge cards are probably easier for Amex to control - no big revolving credit-balances for customers to default on.

I have a friend who's approved for the Plat charge card but got declined for the Plat credit card. :shock: I am not sure what he did, but it sounded like he applied for the charge card then subsequently tried to get the credit card as a free Plat credit card is one of the perks of the charge card. Or maybe he did the 2 simultaneously.

 

[straitman]

Re: Rejected Application

I have a friend who's approved for the Plat charge card but got declined for the Plat credit card. :shock: I am not sure what he did, but it sounded like he applied for the charge card then subsequently tried to get the credit card as a free Plat credit card is one of the perks of the charge card. Or maybe he did the 2 simultaneously.

An interesting variation, me thinks.

 

[Diesellife]

iirc, Veda now maintains details of current credit agreements which can be seen by the prospective lenders when applying for credit. If you omitted pertinent information about current obligations, that could have been a cause. Have you made many credit applications in the last year ?

Dave

Hi Dave,

I've seen some articles about that current obligations and as far as I know, it is still in the updating stage (Pending the new reform of the privacy act.)
Can you please confirm that?

The reason I ask is because I recently obtained my own credit report and although the sub section which called "Consumer Current Credit Provider" is listed, there's no information that goes against it. It is still listed as "0 Provider".

So perhaps the current law is yet to allow current providers to be listed
OR maybe they are in the process of updating
OR they don't bother to update any detail prior to the reform
OR simply the banks (my current providers) don't bother to update?

 

[Mal]

So perhaps the current law is yet to allow current providers to be listed
OR maybe they are in the process of updating
OR they don't bother to update any detail prior to the reform
OR simply the banks (my current providers) don't bother to update?

Amex and Citibank (IIRC) both provide data to Veda and use that.

 

[Diesellife]

Amex and Citibank (IIRC) both provide data to Veda and use that.

Well I have Amex credit card too but nothing on my credit report...:shock:

I wonder how accurate is the information in that section if only Amex & Citi are using it. And how serious will other lenders look into it.

 

[Mal]

Well I have Amex credit card too but nothing on my credit report...:shock:

Have a read through: http://www.frequentflyer.com.au/community/american-express-rewards/amex-credit-checks-15702.html

 

[Diesellife]

Thanks Mal.

 

[trippin_the_rift]

I have made 2 applications within the past year.

Anyway now that I have been rejected, what is the earliest I can apply again?

After twice being rejected when I was younger (despite having a 6 figure income back then with no other debts and a large disposable income base) I decided it was time to give up and move spend to those who actually wanted it.

I've put probably close to a million$ through non-amex cards over the last few years. Amex won't ever see a cent from that purely because they refused to tell me exactly why it was declined.

Look at it this way: if a women rejected you twice what makes you think she'll say yes the third time? Pick up your things and move on. Plenty of banks in the sea

 

[wxxnxs]

After twice being rejected when I was younger (despite having a 6 figure income back then with no other debts and a large disposable income base) I decided it was time to give up and move spend to those who actually wanted it.

I've put probably close to a million$ through non-amex cards over the last few years. Amex won't ever see a cent from that purely because they refused to tell me exactly why it was declined.

Look at it this way: if a women rejected you twice what makes you think she'll say yes the third time? Pick up your things and move on. Plenty of banks in the sea

This is so true. Although I get pre-approved card from Institution but AMEX only offers $2K tiny limited, I have already stopped using the card, just keep it in the tray, I got CBA & NAB both are quite useful and both of them provide very good service. Not as AMEX:evil: