I understand CC assessment algorithms look at income (after expenses), debt to asset ratio, stable employment and housing. I easily pass these checks and have nothing negative on my credit file … apart from “number of credit card inquiries” - which is significant as I churn through a card or two each year.
Over last 12 months Amex declined to offer me two of their co-branded cards from different providers - no reason given - and yet I experience the usual instant approval from AU banks.
Unclear why the yankee boys will no longer play ball - never missed a beat with their cards in the past. Anyone else in good standing seemingly on an Amex blacklist?
As you’ve correctly identified, the process that companies use to approve or decline credit card applications is complicated, opaque, and different for each company. The only little piece of the puzzle that I can offer, which may or may not come as news to you, is that Amex does seem to have a policy of not approving new applications for at least 6 months after an application is declined. So if you apply within 6 months of having an application declined, you have zero chance even if everything else is in your favour.
If your credit score is less than about 600, that can also be a factor.
My advice to you would be to not be discouraged, but don’t be impatient either. All other things being equal, the longer you wait between applications, the greater the chance of the application being approved.
All the best!
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Thanks @sixtyeight. Good tip on the 6 month rule, I may well have re-applied to quickly!
Ps. I’m not discouraged: I took my business elsewhere 