Amex Platinum Cashback - Rejection 2

Psychological_2

Hi Guys,

So after a year of waiting, clearing my credit report so it was exemplary I eagerly applied for the second time to get an Amex Platinum Cashback card and yet again was refused!

Lots of credit accounts against my name, all managed responsibly (perhaps too responsibly from Amex's point of view) and a household income of £74k.

The only things I can see counting against me are time at property (only a year at current property and I move around London a lot) and the fact I don't have any late payments so they realise they'll make no money from me.

I give up, congratulations Amex!

So I still would like a cashback card (moving house next month) although now I have 3 searches in 3 months (although it seems those should be unrecorded ID enquiries and Credit Expert stuff) so guess I should wait a while?

NTCCF

why not try the capital one world mastercard. 1% back on all spending with unlimited cashback. only thing is it has a £18 annual fee. but if your spending is high enough you can cover that easily.

lisyloo

Are you on the electoral role at your property?

I would recommend Egg money. 1% cashback.
£1 fee but has some good insurances like extended warranties and missed event cover e.g. ill and can't go to a concert.
IMO I think it looks better than Cap One, unless I've missed anything.
CAp One might be better if you spend more than £20K per year, so check it out for your circumstances.

Psychological_2

Hi there - yep on the electoral roll for a year at the property. Spoke to Experian and they could see no reason they'd decline me. They are the toughest of the card lenders I guess and they do have the best product in that Platinum Cashback card. Just frustrating to be declined for it twice - especially when I'm not a particularly risky prospect (again maybe that's the problem).

Can't see much difference between the Capital One and the Egg except the annual fee £8 (after £10 annual bonus cashback) for Cap One or £12 for The Egg card.

That 5% Amex intro rate would come in really useful over the next three months while I move though! Damn them...

Tixy

You say you have lots of credit products against your name? how many? how much credit do you have? Might it be the problem that you have too many accounts or too much credit?

Do you have any existing debt showing on your credit file?
Amex don't seem to give any info on what you might need to get their cards but as an example the barclaycard platinum describes itself as best suited for people who "excluding a mortgage, your debt on credit cards or store cards is less than 10% of your income". If Amex have a similar criteria would you fall in that category?

planteria

i use AmexCashback along with the CapOneCashback card and EggMoney. i strongly recommend all three. Amex are tight re. giving the cards out though, as you know, and even when they do they can be tight limit-wise.

the CapOne card charges the £18fee but also credits you with £10 a year...so only need to spend £800 to break even.

Psychological_2

Not excessive amounts against my name - only £2.5k of credit (bank overdraft and low limit on my Barclaycard) - I only set these up ironically to improve my credit rating so I could get the Amex...

I meant more that I have utilities, phone contract etc against my name that help.

slackinside

I bet they declined you because you are not over 25 years old. how old are you?

Psychological_2

I'm 25...

Bloody Amex!

CpdButWhy

Psychological wrote: »

I'm 25...

Bloody Amex!

Well, another year of waiting would cure that condition

BugsyBrowne

Psychological wrote: »

I'm 25...

Bloody Amex!

They don't want you as a customer.