Re: Inquiry-free line of credit by OK, I just checked my email, and there was a message from AMEX: Welcome to Membership B@nking(R) We know that you will appreciate our great rates and convenient online services, and we are looking forward to providing you with an exceptional banking experience. Here is the status of the product(s) for which you applied: - Your application for a Line of Credit - Prime + 5.99 is Pending We appreciate your application to Membership B@nking. We are making every effort to process your application, but will be unable to complete the process online today. We will notify you by mail within the next five to seven business days of the final status of your application. Did anyone else get this??
Re: Inquiry-free line of credit by I haven't received any e-mail yet... I'll keep checking... I did check CreditExpert, and the soft inquiry shows.
Re: Inquiry-free line of credit by I think I know what messed mine up and it's the "two homes" problem again. I think they match mortgage amounts and since I have two I added both of them up and put that as the answer. They may just match the "most recent" mortgage which is abt half the total. Other than that I also put time at residence as the amount of time we've owned and used what is now our second home. If Experian has info on the time of residency and they are looking at what is now our primary then that is only less than 3 yrs. I don't think AMEX can process mine and approve by only doing an AR which I think only pulls in "header" info.
Re: Inquiry-free line of credit by Not just a header, they get the whole file. Here's why I won't be eligible for this product until next month: "Your application was processed by a credit scoring system that assigns a numerical value to the various items of information we consider... The reasons you did not score well... - Too many inquiries last 12 months; - Length of time accounts have been established; - Not at least 1 open trade 12 months old." Again, I expect at least 2 of the above 3 factors to show improvement by next month. Saar
Re: Inquiry-free line of credit by JacquiG, Now I've got the e-mail. Are you sure yours said prime + 5.99? My e-mail said primt + 2.99.
Re: Inquiry-free line of credit by Yep, that was a 'cut and paste' directly from the email. Mist, did you receive a message yet?
Re: Inquiry-free line of credit by So they are at least telling us what rate they are considering us for...
Re: Inquiry-free line of credit by i got that too jacqui, same email, i figure its a decline. Amex is pretty consistent in declining me.
Re: Inquiry-free line of credit by How long did it take for you to get the e-mails? I'm driving myself nuts here wondering what happened, LOL. Still no e-mail. Mist
Re: Inquiry-free line of credit by I'll save you the trouble, Mist. The e-mails for declined applications will say they are "pending", and if it was not approved at the time you applied, it won't be approved at the time they e-mail you either. If you want a definite answer you can either wait for the mail or call the # I've posted above. Saar
Re: Inquiry-free line of credit by Saar, Do they NOT send e-mail if you are rejected but only by US Mail? Is that what you're saying? Did you call the number or did you wait for the reply via e-mail or snail? Just curious. Also, I'd be interested in seeing whether this is going to be another AMEX account which doesn't report limits to Credit Bureaus.
Re: Inquiry-free line of credit by Saar, So are you saying that if you didn't receive instant approval, you will not be approved? Then why bother to send the email? Why the delay?
Re: Inquiry-free line of credit by $25,000 as in Twenty Five Thousand Dollars? Good grief!! From a Sub-Prime card holder this credit limit sounds like a fantasy. I've always thought that such high limits were very rare and extremely difficult to get. How does one get a 25K credit limit? (Not that I want one..I'm just curious)
Re: Inquiry-free line of credit by Saar, Any why would the e-mails show different rates to each person (i.e. mine said +2.99 and JacquiG's said + 5.99)?
Re: Inquiry-free line of credit by They may run a couple of algorithms on your report. Some make it to the P+2.99% score cutoff, some don't. Of those that don't, some qualify for P+5.99%, some don't. Again, what I said does not apply to JacquiG's application, since that one generated a unique text that does not necessarily imply a decline/approval. Saar
Re: Inquiry-free line of credit by Ok, finally received an e-mail: --------------- Welcome to Membership B@nking(R) We know that you will appreciate our great rates and convenient online services, and we are looking forward to providing you with an exceptional banking experience. Here is the status of the product(s) for which you applied: - Your application for a Line of Credit - Prime + 5.99 is Pendin We appreciate your application to Membership B@nking. We are making every effort to process your application, but will be unable to complete the process online today. We will notify you by mail within the next five to seven business days of the final status of your application. American Express Centurion Bank, Member FDIC --------------------- Mist
Re: Inquiry-free line of credit by "The Other", yours was considered for the P+2.99% rate. Any idea what range your Experian/FICO score is in? Thanks. Saar
Re: Inquiry-free line of credit by Now I've called and found that I've been declined. The csr would not give me reasons on the phone, I have to wait for the snail mail. I have an Equifax FICO of 759 (one account not showing so it is a little inflated but should adjust to around 720) right now and an Experian Credit expert score of 704.
