How can Hubby be turned down for American Express

boo_star

midnight_express wrote: »

I think the problem is they wouldn't make much money from you.

If it's a "proper" Amex (charge card) rather than an Amex credit card then you're expected to pay it off each month, so surely paying a CC in full each month would be a plus.

That said if it is a "proper" one they are notoriously picky on who they give them to, I wouldn't be too upset about being declined.

JuicyJesus

midnight_express wrote: »

I think the problem is they wouldn't make much money from you.

Lenders are forbidden from using credit report data to tell whether a customer is going to be profitable on a commercial basis or not as part of an application.

So it won't be that.

[Deleted User]

Perhaps he needs to check his credit reports (there are three in total) to make sure that all the information held is correct and that there is not information there that shouldn't be, by error or fraud.

boo_star

Domino9 wrote: »

Perhaps he needs to check his credit reports (there are three in total) to make sure that all the information held is correct and that there is not information there that shouldn't be, by error or fraud.

I suspect they applied for a "proper" Amex.

As I said they are notorious for declining despite perfect records.

They don't make their money from interest, they make it from prompt repayment and annual charges.

I think clarification from the OP is needed as to whether it is an Amex or Amex CC.

goonarmy

nellienellie wrote: »

My husband has just applied and been turned down for an American express card due to his credit score. How can this be ?? We are in our sixties and still working. We have lived in the same house for thirty years. We own two houses outright,have money in the bank, and although we have always had finance for our car have never had any other debts. We have never, and I do mean NEVER, faltered on a payment. All our bills are paid on time,credit card cleared each month etc,etc. I find it embarrassing and a bit scarey. I would appreciate any advice on what to do next.

Embarrassing? Why? You seem to have all your finaces in order and nothing to worry about. And no-one knows(apart from who you tell). Next course of action: try some one else if you really need credit. What is the reason for the card if not too forward?

nellienellie

We were advised that an AE card is a good idea when travelling abroad. Embarrassing, mainly because other friends, whose financial affairs are not good, have AE cards no problem. We didn't know how credit scores worked and I now think it may be because we have had little credit over the years.

macman

Exactly. Little or no credit history makes you almost as high a risk as an adverse history, because the lender has nothing to go on to assess the risk.
Your other friends may be £100K in debt, but as long as they are servicing those debts on time, their credit history is good.
What is the advantage of an Amex card over any other when travelling? Almost everywhere that takes Amex also accepts Visa or Mastercard.

iAMaLONDONER

JuicyJesus wrote: »

Lenders are forbidden from using credit report data to tell whether a customer is going to be profitable on a commercial basis or not as part of an application.

So it won't be that.

Really? I never knew that!
I think I remember Martin once saying that stoozers could be found out through CRA data??

Makram_2

JuicyJesus wrote: »

Lenders are forbidden from using credit report data to tell whether a customer is going to be profitable on a commercial basis or not as part of an application.

So it won't be that.

And how would you know it wont be that? do u work for that organization?

Makram_2

nellienellie wrote: »

My husband has just applied and been turned down for an American express card due to his credit score. How can this be ?? We are in our sixties and still working. We have lived in the same house for thirty years. We own two houses outright,have money in the bank, and although we have always had finance for our car have never had any other debts. We have never, and I do mean NEVER, faltered on a payment. All our bills are paid on time,credit card cleared each month etc,etc. I find it embarrassing and a bit scarey. I would appreciate any advice on what to do next.

First thing i would do is check your credit files just to make sure no one else has used your details to obtain credit by linking another address, or it maybe some errors or not enough credit history like some have said.