AMEX Nectar Card

derfo

Hello All,
Need some community credit card help! I applied for an AMEX Nectar card on the recommendation of my Mrs who also has one to get Nectar points for all of my expenses/purchases. To my dismay, AMEX declined me citing credit score reason. I have an Experian account and checked that my score was 950 so am a bit surprised as to why my application was declined. Could it be that my credit score is too high?

Any help is much appreciated.

[Deleted User]

i doubt very much that your score is too high,but a cra score is meaningless as amex as others will use their own scoring methods,one thought do you have the required min income for amex?

InsideInsurance

LoL @ too high

For a start the Experian credit score is nothing more than a money generating ploy from them. American Express dont see that number, they have their own scoring system which is applied to the data the CRA holds on you plus the other information you give them etc.

American Express are one of the strictest card issuers and so even people with a good record that would be accepted by most other companies doesnt guarantee that Amex will.

From personal experience I found they hate outstanding balances even if your over paying them, have a relatively modest utilisation rate etc.

derfo

Below are the eligibility criteria. I satisfy all of them...

• I am aged 18 or over
• I have a current UK bank or building society account
• I have a permanent UK home address
• I have a household income of at least £30,000
• I have no history of bad debt
• And if self-employed, I have been working for more than one year

reclusive46

Indeed but they use their own credit scoring system and they are very strict on their credit cards, if you want an Amex that you'll probably get accepted for that, the charge cards don't have any revolving balance, so you have to pay it off in full at the end of month. (They have no credit limit either)

The Gold, Green and Platinum cards are the charge cards.

InsideInsurance

derfo wrote: »

Below are the eligibility criteria. I satisfy all of them...

• I am aged 18 or over
• I have a current UK bank or building society account
• I have a permanent UK home address
• I have a household income of at least £30,000
• I have no history of bad debt
• And if self-employed, I have been working for more than one year

These are always verging on misleading by them. If you look at the demographics of their customer base they are on average massively higher than the minimum requirement.

If you look at the section about why businesses should accept amex it basically says "because our customers are richer than yours" :cool:

derfo

Yea, the Mrs had an AMEX back in USA and they gave her one when she moved here even though she did not have a job at that time...

Oh well, Sainsburys Nectar for me then...

Savvy_Money

But they do accept AMEX in poundland! Having said that I read the other day that the middle classes are now frequenting poundland but swapping the bags for a Waitrose one outside the store!

InsideInsurance

Just because you have money doesnt mean that you have to buy £100 HDMI cables rather than £1 ones from Poundland. The difference is they need a dozen of them as they've a HD TV and bluray player & SkyHD in every room.

Arguably those with money can be the most money conscious which is how they get their money in the first place (look after the pennies and the pounds will look after themselves as my gran always used to say).

Dont swap the bags when we come out.... in fact frequently laugh at those that use the bags from luxury brand stores (eg Chanel, Louis Vuitton etc) effectively as hand/ man bags