I went ahead and decided to apply for an AMEX blue today. Well, i already have a green rewards charge account with them in good standing, so I used the link to apply. Well they decline the application with the reason codes: no savings/checking account reporting; insufficent information on monthly rent; high debt compared to income; and utilization of credit. My question is, I have a savings and checking account with a bank that does not report it. How can not having a checking/savings/rent reported have any effect on approval decision. BTW, I spoke with new accounts department, and the lady on the phone told me that the report was pulled from EQ, and that I needed to apply again in 60 days for reconsideration. She told me that im just out of luck because my financial institution does not report the checking/savings acccount. What should I do, or am i stuck with a denial despite having a superior Amex green rewards, checking, and savings account in excellent shape as far as history with no derogatory marks other than mid-high utilization (45% overall).
i have never heard of not having checking/savings/rent reporting affecting your credit simply because they dont report (unless as adverse action) did you fill that information in on your application? not listing it on your application may have affected your score on their internal scorecard, but i highly doubt it affected your fico.
I just got the BLUE 2 weeks ago and my checking account does not show on my CR. I utilization is in the 40s% also. Go figure....Talk to a supervisor..not sure where that CSR is getting her info from.
happy holidays all! I have never heard of such a ridiculous answer. AMEX does not have your chking info - possibly - because of the great short form application. no checking accts are reported to credit bureaus - I have never bk accts on a credit report. Bounce a chk - it goes to chexsystems or who ever. I would ask for immediate reconsideration. Bull on the 60 days. good luck - dogman
no checking or savings accts are reported to credit bureaus - I have never seen bank accts on a credit report. dogman ================= Good thing they're not. Wouldn't that be an open invitation to ID and other theft? What a Hay Day CAs would have with that! >------------>> LB59
Got a nice Christmas present today from AMEX! I called the new accounts department and spoke with a supervisor! He informed me that four reason codes have to be given for a denial and those two were lame to fill in. Well, I informed him that I already had an acccount with them in excellent shape, so he manually approved with 5.99% fixed bt, prime+4.9 for purchases after first 6 months at 0%. THanks cnet for your help because I would have went on and accepted the denial without knowing Cnet's guidance. I never knew before visiting this site what a live person can do versus an automatic 30/60 second response from a computer.
CONGRATS! and you are correct! If you take advantage of available expertise, the outcome can be much different - like you getting the BLUE at great rates! 99% of the population never even challenges or responds. If I had not proactively gone after WORLD, SIGNATURE and GOLD, I would not have them now. I would not have $25 LOC and a $5K Plat US Bank VISA - if I had not gone after them. I went after JCB, and got $5K. I worked Cap One to SHOW a $7100 limit. If the individual fixes the report, and you read who pulls with what scores, you push the button, and then you are approved. Amazing! Sometimes it takes a call as well. To get my $25K LOC, I had to show US Bank income. So I did. But income is not even important on a credit report. My cards this Christmas are SO DIFFERENT than last Christmas. My $7100 Cap One and AMEX GREEN were the top 2 cards.
Dogman is 100% right! I too have used many tips and comments from here to help shape my credit. Indeed, my cards today include BofA Plt., US Bank Plt. Amex Blue, Amex Green, MBNA Plat, Chase WC, Bank One Mileage Plus Signature and 1st. Tenn. Happy Holidays, Mirage
