Denied Amex Optima.....Hellooo

Discussion in 'Credit Talk' started by debbie, Sep 20, 2000.

  1. debbie

    debbie Guest

    I can't bealive that Amex denied this card. I just bought a 2000 Dodge Durango, and the reports they pulled came out with excellent credit. 700+. Could it have been the inquiries? I went to 2 dealers both checked my credit and then my credit union also pulled it up to approve the loan. I got the denial calling into their automated system. Do you guys think I should talk to a rep.?
    I have:

    Providian with 1,900 limit, 1,400 bal
    Sears 1,100 700 bal
    Auto loan 20,000 16,970 bal
    Capitol One - closed but 1 year history.
    JcPenny Closed 4/00 6 year history

    $64,000 income

    Thank for any advice
  2. David

    David Well-Known Member

    RE: Denied Amex Optima.....Hel

    I applied for AMEX Blue in August, and one of the three main reasons for denial were:

    -Too many recent credit checks
    -Too many accounts with balances
    -Proportion of loan balance to loan amount is too high

    Sounds like you may get denial reasons like those I got. My credit score was around 700, as well. (According to a NextCard VISA rep)
  3. Michael

    Michael Guest

    RE: Denied Amex Optima.....Hel

    I Would venture to guess that they may see a 64,000.00 income with about 20,000.00 in balances as too high a debt/income ratio.

    HOWEVER, I would still call again and speak to a credit rep. If it is the inquiries then you can explain yourself to them, and if it is the loan then possibly they will either reverse the denial or give you some dirrection as to future prospects of approval!

    All they can say is no again so do call
  4. dogman

    dogman Well-Known Member

    RE: Denied Amex Optima.....Hel

    Good advice, Michael.
    I bet you if you had applied for the Card B4 getting the auto loan, you would have had it already.

    Then you still would have gotten the car loan. They would have seen $16K less debt.

    But explain the situation, and see.
  5. RichGuy

    RichGuy Guest

    RE: Denied Amex Optima.....Hel

    I think the RECENT auto loan may be an issue. Recently opened accounts have their own negative effects on approval.

    The balances on your Sears and Providian cards are also high relative to the limits.
    I'm no expert on this, but Chase told me that over 50% utilization was too high. As already mentioned, AmEx does use utilization as a criterion.

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