AMEX rejection

[Waddygib]

Have you been churning in the last 2 years?

Amex Platinum is probably the easiest card in the market to get approval for so if it isn't churning it must be something else fairly major in you bureau (multiple defaults, really really low score). Or they think it is fraud.

 

[Spomasan]

Have you been churning in the last 2 years?

Amex Platinum is probably the easiest card in the market to get approval for so if it isn't churning it must be something else fairly major in you bureau (multiple defaults, really really low score). Or they think it is fraud.

I’ve had probably 3-4 different cards in the last 2 years. I have a good credit score so can’t be that. I thought they would consider that I held my previous Amex for a fairly long time. I’ll ask for a review and see if anything comes of it.

 

[Waddygib]

That's probably the churning that got you then, assuming you cancelled all 4 of them

 

[Brucetiki]

Hi all

So I held the velocity platinum for around 5 years and cancelled it two years ago. I have now been rejected on my recent platinum application. My income is well over what is required and I currently don’t have another credit card. What are my chances if I ask to them to review my application? Has anyone gone through this process?

Thanks

No chance. They wouldn't even try with me when I queried a rejected limit increase

 

[burneracc]

No chance. They wouldn't even try with me when I queried a rejected limit increase

Semi related, any insight into how CLIs work in Australia? In the US they have the rule of approving requests up to 3x the current limit every 6 months, so wondering what we have here. Does a CLI request do an external credit check too, or can they just do it internally?

 

[Waddygib]

External credit check not required but banks would probably take the opportunity to do it as they are restricted in how frequently they can do this for existing accounts (especially the good ones). Their own internal scoring engines would be better than an Australian bureau score and is what would be used to make the decision.

No multiple rule that I know of but big difference is debt capacity check and income verification requirement in Australia needs to be re-done for limit increase.

 

[Brucetiki]

Semi related, any insight into how CLIs work in Australia? In the US they have the rule of approving requests up to 3x the current limit every 6 months, so wondering what we have here. Does a CLI request do an external credit check too, or can they just do it internally?

Amex do an external credit check when you apply for a limit increase, but then don't take your credit score into account when rejecting an application

 

[Waddygib]

Amex do an external credit check when you apply for a limit increase, but then don't take your credit score into account when rejecting an application

They do take it into accoun,t in two ways: 1. it is an input into their decision engine (but is only a relatively small minority of the weight) and 2. It is an auto-reject below a certain (quite low) level.

So it only really has an impact if its really low. If your bureau score is high and you were rejected, it was due to something else in your bureau profile (like history of churning), some other factor the model identified, or you failed debt capacity test based on your income and other debts (this last one not applicable to the platinum card).

 

[Bacchus71]

Blessing in disguise. Rejected twice for AMEX Velocity Platinum card, but just approved for Westpac Altitude Velocity Black card. 180,000 points, here they come!