Why was I denied and American Express Blue Cash card?
Posted in Credit on 01/11/2010 06:50 pm by admin
Thank you for your recent application for the Blue Cash SM from American Express. After reviewing your request, regrettably, we are unable to open an account for you at this time for the following reason(s):
Your American Express Acquisition Risk Score is too high (See below)
Your application was processed using our American Express Proprietary Acquisition Risk Scoring System which assigns a numerical value to the various items of information we consider in evaluating an application. Your application’s total score exceeded our threshold for approval at this time. Listed below are the reasons that you did not score well compared with other applicants. (For reasons based on information in a credit report, the name of the consumer reporting agency is identified.)
Number of trades (Experian)
Amount of credit available on accounts (Experian)
Ratio of your card account balances to your income is too high, or cannot be determined(Experian)
Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency(ies) listed in this letter. Please understand that the reporting agency(ies) played no part in our decision and cannot supply you with specific reasons why we denied credit to you. You have a right under the Fair Credit Reporting Act to obtain a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. If you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.
An important notice concerning your rights is included. The creditor is American Express Centurion Bank.
It has been our experience that applicants who do not meet our basic requirements at one time may qualify later on. We invite you to submit a new application at a later date when your circumstances have changed.
Thank you for your interest in our service.
Sincerely,
Robert Garinger
Business Leader New Accounts
Now anyone who can tell me why I was denied? It clearly states it but I want to know MORE about it. And Im going to send a copy of it to experian so I can get a report from them. I know my credit is good. No bad marks whatsoever. I’m blaming it on the credit crisis! =D lol oh well. I’ll live.
NICKOLAS
01/13/2010 at 1:41 pm
ERICH
Even if your credit record is spotless, they won’t take you on if they don’t think you make enough money to handle more debt.
Your credit limits and the amount you already owe on them are the biggies there. Ask yourself this: if you were to use all your available credit, could you comfortably make the minimum payment on that every month without digging a deeper hole? What if your bank bumped the minimum payment up to 5% of the balance? If not, it’s time to hide the cards and go on a money diet.
01/15/2010 at 9:56 pm
CLARENCE
Your credit is almost maxed out. Meaning you have let’s say a 500 credit limit on a cc and you owe 400 (the card is almost maxed out.)
You’re eligible to get a free annual credit report from all three burues.
Hope this helps.