AMEX Decline because of one inquiry

[geeharry88]

I am hoping one of you can explain why my soft application with AMEX for a Platinum card was declined today. EX 759 with one hard inquiry yesterday with Chase.  AMEX said I was rejected because "Our evaluation of the inquiries on your credit report based on the number, type and recency. (Experian)  When I called they told me I could check with EX to correct any mistakes, but I knew that hard inquiry was correct.  I asked why did they decline me for having only one.  Everything else is "exceptional" as the report indicates.  14% utilization.  I asked to speak to a manager but even she couldn't explain and ended up giving me the same BS as the other rep that I can go to Experian to correct or dispute any information on there.

So I'm asking you guys what your opinion is or has anyone else had this same experience?  Was having one hard inquiry yesterday the issue?  Should I have waiting 30 days?  For the life of me, I can't understand why.  At least this was only a soft application and didn't put on a hard inquiry onto my report.  My thanks in advance.

[ShawnPY1972]

14 minutes ago, geeharry88 said:

I am hoping one of you can explain why my soft application with AMEX for a Platinum card was declined today. EX 759 with one hard inquiry yesterday with Chase.  AMEX said I was rejected because "Our evaluation of the inquiries on your credit report based on the number, type and recency. (Experian)  When I called they told me I could check with EX to correct any mistakes, but I knew that hard inquiry was correct.  I asked why did they decline me for having only one.  Everything else is "exceptional" as the report indicates.  14% utilization.  I asked to speak to a manager but even she couldn't explain and ended up giving me the same BS as the other rep that I can go to Experian to correct or dispute any information on there.

So I'm asking you guys what your opinion is or has anyone else had this same experience?  Was having one hard inquiry yesterday the issue?  Should I have waiting 30 days?  For the life of me, I can't understand why.  At least this was only a soft application and didn't put on a hard inquiry onto my report.  My thanks in advance.

 

It's because the Chase inquiry was done within a day of the Amex application.  Banks don't like to see inquiries so close together.

Edited July 6, 2024 by ShawnPY1972

[ShawnPY1972]

15 hours ago, ShawnPY1972 said:

 

It's because the Chase inquiry was done within a day of the Amex application.  Banks don't like to see inquiries so close together.

 

Also, you applied for their flagship card!  Had you started off with the green card they probably would have approved you.  Wait a couple of months to apply.  Don't apply anywhere else!

[Sidewinder]

7 hours ago, ShawnPY1972 said:

Don't apply anywhere else!

 

You were supposed to say that in Karl Malden's voice.

[shifter]

On 7/6/2024 at 3:49 PM, ShawnPY1972 said:

the green card they probably would have approved you

Actually the Platinum is no harder to obtain than the Green. And all of their charge cards are easier to obtain than their revolving products. 

[shifter]

On 7/5/2024 at 11:47 PM, geeharry88 said:

Was having one hard inquiry yesterday the issue?

Possibly. Some creditors have hard limits like another inquiry within 48 hours or 7 days means an auto decline. Citi does that. I haven't heard of Amex being that inquiry sensitive in the past, but lending criteria is ever changing. 

[ShawnPY1972]

46 minutes ago, shifter said:

Possibly. Some creditors have hard limits like another inquiry within 48 hours or 7 days means an auto decline. Citi does that. I haven't heard of Amex being that inquiry sensitive in the past, but lending criteria is ever changing. 

 

I've had Amex deny me based on a couple of inquiries and I've seen others be approved with several inquiries.  I think that Amex overlooks inquiries if you have an existing relationship with them.  Bank of America turned me down with three inquiries.