Reapplying for Amex

[beni050385]

Hi Guys,

I previously had a Gold charge card and a Platinum edge credit card as the companion card both of which were cancelled over 2 years ago (by me).
I reapplied about 6 months ago however wasn't approved with the usual "our own reasons"

How long until I should reapply? I am need of a charge card but don't want too many enquires on my credit file.

 

[prozac]

Hi Guys,

I previously had a Gold charge card and a Platinum edge credit card as the companion card both of which were cancelled over 2 years ago (by me).
I reapplied about 6 months ago however wasn't approved with the usual "our own reasons"

How long until I should reapply? I am need of a charge card but don't want too many enquires on my credit file.

I don't think anyone could answer how long you should wait. Try a different tack and get someone to refer you. You will get extra bonus points on joining and maybe the process will be different enough to gt you over the line. Gold charge has 20k joining points attached. Put less detail into the application so that they need to talk to you over the phone. I found it easier getting some figures accepted by human contact.

 

[beni050385]

I don't think anyone could answer how long you should wait. Try a different tack and get someone to refer you. You will get extra bonus points on joining and maybe the process will be different enough to gt you over the line. Gold charge has 20k joining points attached. Put less detail into the application so that they need to talk to you over the phone. I found it easier getting some figures accepted by human contact.

Thanks Prozac,

Anyone willing to refer me???

 

[prozac]

I have sent a pm

 

[beni050385]

Thanks Prozac,

I have responded.

 

[mitwg]

It is generally understood that charge cards have less strict requirements for approval than the equivalent level credit cards. I would be very surprised if they outright reject your application on a charge card again without giving you a decent reason (providing that you have no unpaid bills etc. from your previous tenure with amex)

I personally don't really like the gold charge card for some reason though. The 30k sign up bonus is nice (I just referred a colleague and I've never seen the points post so quick!) but the card itself feels like its sitting in a bit of limbo between the green charge and the platinum charge with poor point earn rate for a relatively premium card with an annual fee of $200+ including the MR enrolment.

 

[ric_melb]

I beg to differ on the point that Amex charge cards have less strict requirements for approval than Amex credit cards. A cursory look of the Amex site indicates that minimum income levels for charge cards are generally higher than an equivalent credt card.
Also given that technically a charge card has no limit, then I would hope that Amex would apply a sterner approval process.

 

[mitwg]

I beg to differ on the point that Amex charge cards have less strict requirements for approval than Amex credit cards. A cursory look of the Amex site indicates that minimum income levels for charge cards are generally higher than an equivalent credt card.
Also given that technically a charge card has no limit, then I would hope that Amex would apply a sterner approval process.

Very good point here and everything you said makes perfect sense.

My previous comment was just based on a few earlier readings and also on the observation that the credit card application requires a lot more disclosure about your financials compared to the equivalent charge card. I also know that the charge cards are not really on 'no spending limit' basis because despite not hitting the cap myself, I am aware several people who have been ocassionally contacted by Amex on their spending and had to get even the relatively small charges 'approved'. From what I hear, they say that the card works like a credit card with a hidden credit limit that is recalculated regularly (monthly probably) based on your previous spending pattern and what they perceive your repayment ability to be.

Obviously without working at Amex however, the above is completely an assumption and definitely not fact.

 

[smit0847]

I cancelled my Velocity gold card, applied for a Velocity platinum card the following day and it arrived 4 business days later.

I have received the bonus sign-on points too.

 

[quokka77]

Nice work Smit. Re charge "no limit" cards... I put a few big purchases on mine in the first month (15000) and they phoned me to ask how much more I planned to spend that month, and then have me a limit for that month of 20000. So I guess I found out what the limit was on my card, at least in the first month.