American Express Cheated me.

ajron

I applied a credit card with American Express. I did an eligibility check on American express website before applying for credit card with them. The check gave me a result of 9.5/10 chance for getting a credit card from them. Based on the eligibility check. I went forward and applied for a credit card and may application got rejected.

I contacted the American express customer care and enquired why my application got rejected. They replied that I didn't get 10/10 and 9.5/10 is not enough for getting accepted for the card.

I understand there are further checks, like credit score and other conditions will be considered for the application to get accepted. But in this occasion, I feel cheated.

I applied only because the possibility of getting the card was excellent. The lured me in applying for the card by giving me 95% chance of acceptance. Now that i have got rejected, it will be affecting my credit score. It is cheating and fake advertisement.

I contacted the Financial Ombudsman (set up by Parliament to resolve individual complaints between financial businesses and their customers), I got a reply that unless the money lending company offers you 100% chance of getting accepted, they are not doing anything wrong.

So Friends, Beware that even they are offering you 99% acceptance chance, still there is 1% chance that you will get rejected. And that 1 person out of 100 might be you !!

Richey_

I don’t get your post, you are stating the obvious.

5/100 people in your situation get rejected. You were one of the 5

It’s their money, you have no right to borrow it!
Why go to the FCO? They cannot bully a company to lend you money.
You knew the risks, you got rejected.
I’d be checking my credit files if I was you to find out why, rather than licking my wounds and up locally griping

Nick_C

American Express Cheated me

No, they didn't.

BoGoF

Don't you think FOS have better things to do than state the obvious that a 9.5/10 chance is not 100%.

Nobody cheated you, move on.

[Deleted User]

You credit score wasnt affected since it doesn't exist.

As others suggest I would check your files (not the score) and look for anomalies.

Any number or reason you were rejected on making the full application: incoming and outgoing, reason for applying for the card, a full credit and ID check etc.

cjmillsnun

You have lost nothing. You have one hard search on your Experian credit file. That's it. After 6 months every lender will ignore it, right now, if it is the only hard search most lenders won't be overly bothered anyway. After a year it's gone.

Your "credit score" is meaningless because lenders don't use it. Every credit reference agency will give you a different "score" and every lender uses their own process based on the information in your credit file.

At the moment you have zero quantifiable loss. You didn't get a card from Amex, but you didn't have one from them anyway. They don't have to give you their money, and until you pay it back, it is their money.

Everything else you had before, you still have now.

What you should do is check your files (all three major CRAs) and ensure that any information they have about you is correct.

You wasted the FOS' time.

tenchy

ajron - I suggest you don't ever come here for "advice" again, but I expect you've already worked that out for yourself. In many respects it really is a bum forum, as evidenced by the arrogant, smug, pompous, gloating responses you received TO YOUR FIRST POST on the forum. They all missed the Newbie tag on your post (actually they didn't!).


As for the point you're complaining about, can you explain how the pre-eligibility check differed from the full application? If they were essentially the same, then Amex (a company I hate, and would never do business with) are indeed cheating you, and others.

Edi81

Simple percentages. They didn’t give a 100% guarantee.

Nothing to complain about.

PixelPound

Edi81 wrote: »

Simple percentages. They didn’t give a 100% guarantee.

Nothing to complain about.

Surely this is a troll posting? Say something that everyone disagrees with? Especially as a first post. :rotfl:

cjmillsnun

tenchy wrote: »

ajron - I suggest you don't ever come here for "advice" again, but I expect you've already worked that out for yourself. In many respects it really is a bum forum, as evidenced by the arrogant, smug, pompous, gloating responses you received TO YOUR FIRST POST on the forum. They all missed the Newbie tag on your post (actually they didn't!).


As for the point you're complaining about, can you explain how the pre-eligibility check differed from the full application? If they were essentially the same, then Amex (a company I hate, and would never do business with) are indeed cheating you, and others.

Oh please. He was not cheated in the slightest and has not lost a thing except for a few minutes of his time. His financial affairs remain as they were with no real damage done.

There will be more information given in a full application than in an eligibility check which is why no one offers a 100% guarantee based on those checks.

I understand the OPs frustration. However Amex (i also wont do business with them) in this case did nothing wrong.

Superscrooge

It might help to look at the eligibility check in reverse?

When Amex quote a 9.5/10 chance of acceptance, they are stating you have a 5% chance of rejection, which is what happened.

There is no evidence you have been cheated