AMEX Application Process Failures + Contact

[big_RED]

How did you go?

Funny you ask.

AFCA called me last Friday, nearly 4mths after my submission to say they'll start working on this.

However when I explained my reason for the feedback they said the UX and process across every financial provider differs and unfortunately that's up to them.

He understood the customer experience was sub par (from a consumer POV) but said they can really only get involved in regulatory/legal issues (eg a financial institution providing to credit incorrectly to someone who shouldn't be allowed).

I said I understood and he could close the case.

Amex never called me back after 3-4 times confirming they would.

I'm going to apply before October's out and see how I go. I haven't applied for any other credit cards since, so hopefully Amex/their credit reporting services like that.

 

[andyrb]

but said they can really only get involved in regulatory/legal issues

Which is what everyone here already told you.

Seems like you've just wasted their time on a non-issue.

 

[big_RED]

Seems like you've just wasted their time on a non-issue

Hence why I told them to close the case and I wouldn't take up any more of their time.

 

[big_RED]

I thought I might just update anyone interested in my latest Amex experience.

I reapplied for the American Express Ultimate card last month. 5 months after my original rejection from American Express for the same card. Unfortunately there was no change and I was rejected once again.

I still needed a new credit card so I applied for the Qantas Premier credit card (I believe that's backed by nab now?) and within 3 days was approved and what was even more crazy in my eyes was that they gave me a $64,700/mth credit card limit!

Having received this credit limit, it makes me wonder what other rules are in place at American Express that helps them determine credit card suitability!

I understand American Express owes me nothing, but thought it crazy the credit limit one provider is happy to assign when another flat out rejects you!

 

[1022]

I thought I might just update anyone interested in my latest Amex experience.

I reapplied for the American Express Ultimate card last month. 5 months after my original rejection from American Express for the same card. Unfortunately there was no change and I was rejected once again.

I still needed a new credit card so I applied for the Qantas Premier credit card (I believe that's backed by nab now?) and within 3 days was approved and what was even more crazy in my eyes was that they gave me a $64,700/mth credit card limit!

Having received this credit limit, it makes me wonder what other rules are in place at American Express that helps them determine credit card suitability!

I understand American Express owes me nothing, but thought it crazy the credit limit one provider is happy to assign when another flat out rejects you!

Maybe they have an unofficial list of churners. I've also been turned down by AMEX when I have an excellent credit rating and get offered silly limits by other institutions. ANZ is the only other one that has turned me down for a points earning card. When closing a previous ANZ card (just outside the 18 month re-application window), I gave my reason as "I only got the card for the points" ... so you never know what data these companies keep and subsequently use.

 

[Happy Dude]

Maybe they have an unofficial list of churners. I've also been turned down by AMEX when I have an excellent credit rating and get offered silly limits by other institutions. ANZ is the only other one that has turned me down for a points earning card. When closing a previous ANZ card (just outside the 18 month re-application window), I gave my reason as "I only got the card for the points" ... so you never know what data these companies keep and subsequently use.

I recall a post somewhere on here that used that argument specifically to demonstrate why so many card applications had been made. IIRC, the spreadsheet kept by the poster showing application dates, points, closing dates (which were corroborated in the credit file), etc was enough to sway the credit provider to accept the application.

 

[Ubers]

Thanks guys. Amex has been denying my applications the last year (I've never had an issue with about 8 other credit card providers) but I haven't been able to get a reason out of them yet... Seems like they are annoyed by one of the following: too many credit cards, cancelled one of there credit cards a couple of years ago (may not like burn and churners) or I've refinanced our home loan the last 12 months. Very frustrating.

 

[DC3]

… Amex has been denying my applications the last year …

I guess that you don’t fit the profile that Amex is after in a customer.

 

[Ubers]

I guess that you don’t fit the profile that Amex is after in a customer.

Maybe... it would just be nice if they addressed it more professionally by stating a reason or adding it to the application qualifications and exclusions.

 

[andyrb]

it would just be nice if they addressed it more professionally by stating a reason

Lenders will NEVER give specific reasons for a decline. It makes the system too easy to game and opens it up to fraud if people know what might give them an advantage.

 

[big_RED]

I reapplied for the 3rd time this year. Just to see if anything had changed. It hadn't . However this time they actually called me to validate all my finances, to tell me they declined my application.

 

[Ubers]

Lenders will NEVER give specific reasons for a decline. It makes the system too easy to game and opens it up to fraud if people know what might give them an advantage.

Yeah, understandable. I keep thinking why only them but it's a waste of brain power Sometimes my payslips don't line up with my annual salary because I get some overtime. Another bank noticed that and just rang me up to ask why my payslips didn't match. Said no worries and my approval came 5 mins later.

 

[Dr Ralph]

Lenders will NEVER give specific reasons for a decline.

This isn't true.

 

[1022]

FWIW, after an AMEX denial last year for a QFF card, I was approved quickly and easily recently for a Velocity branded one (with 100k points that I'll spend on SQ)

No material change to my financial circumstances, credit rating nor number of other current cards.

 

[big_RED]

I received my Amex rejection letter today, and it actually provided some specific details as to why they rejected me!

"Based on monthly income and expense information.. We couldn't confirm your ability to make sufficient repayments".

Crazy, considering the Qantas Premier gave me a $64k/mth limit after the Amex rejection. And I have a perfect repayment credit record. Can only lol.

 

[Ubers]

I received my Amex rejection letter today, and it actually provided some specific details as to why they rejected me!

"Based on monthly income and expense information.. We couldn't confirm your ability to make sufficient repayments".

Crazy, considering the Qantas Premier gave me a $64k/mth limit after the Amex rejection. And I have a perfect repayment credit record. Can only lol.

Yeah, they certainly seem to lack quality control over their approval process. At least you got a reason. A staff member at Amex assured me the denial letter would have a reason but mine had no reason stated. So, I've prepared my letter to send by mail to American Express in Sydney seeking clarification, as a letter in writing is the only avenue of communication.
I can't remember the last time I bought a letter and stamp .

 

[Peregrine]

Amex has clearly cracked down on churners, and maybe tightened income requirements perhaps in context of people seeking to ease financial pressure through a credit card. My reading around the internet is that I reckon you need to show $2k-$3k clear income a month over commitments, and have income over $100k for the explorer and say $120k for the Platinum, maybe $60k-$70k for the edge.

 

[Mr H]

Allow me to join the ranks of Amex rejects. I have an excellent credit score, income over $170k, no defaults or late payments - but 11 closed credit facilities.

 

[Ubers]

Amex has clearly cracked down on churners, and maybe tightened income requirements perhaps in context of people seeking to ease financial pressure through a credit card. My reading around the internet is that I reckon you need to show $2k-$3k clear income a month over commitments, and have income over $100k for the explorer and say $120k for the Platinum, maybe $60k-$70k for the edge.

Thanks for the info.

 

[big_RED]

I've prepared my letter to send by mail to American Express in Sydney seeking clarification, as a letter in writing is the only avenue of communication.

That's what I did as well. I can't recall what the channel was, but they did reply. Nothing reassuring though.

I feel you need to be on $500k + 0 credit cards in the last 6 months. I've got friends who've been rejected on $350k, saving a huge amount, but with 1 card, and having churned regularly.