American Express (AmEx) Pauses All New Card Applications 🚨🚨

[coolguy1]

Seems like AmEx wants to pause and look back into what they've been doing.
They're pausing all new applications for the time being, probably for the next few months under the reason 'strategic business transformations'.



This does not affect current users but only the new applications.

They've been getting dragged for a decline in their quality of customer support, lack of new offers and the overall card value going down.
Do you think they will introspect all of it and come back even better and stronger?

 

[Noxious]

Applied for plat travel for a friend using ky referral, been 20 days, it showed “no income documents required and you are conditionally approved” then went to his office for verification and now asking for income documents, lets see how it goes.

 

[LHR]

Applied for plat travel for a friend using ky referral, been 20 days, it showed “no income documents required and you are conditionally approved” then went to his office for verification and now asking for income documents, lets see how it goes.

oh does amex do physical office verification?

 

[coolguy1]

oh does amex do physical office verification?

Rarely, not for most. But sometimes, when the other information doesn't suffice, they might trigger a physical verification.
From my experience, it happens in about 1/2 out of 10 cases.

 

[cardio_guycardio_guy is verified member.]

Possible reasons
Mass adoption, increase in customer base, unable to cater to all personally?
Devaluations on the way?
New low rewarding (or cashback) india specific cards to be launched?

 

[drsel]

Possible reasons
Mass adoption, increase in customer base, unable to cater to all personally?
Devaluations on the way?
New low rewarding (or cashback) india specific cards to be launched?

No, no, this is all speculation.

 

[drsel]

The double incentive/commission rates were not sustainable, just like 25000 points for one lakh spend in old Magnus

 

[LHR]

Can anyone here help me out with this? https://www.technofino.in/community...ion-income-documents-issue.38714/#post-958677

 

[sunnykhandelwal5]

I think this is correct because a few days ago, I applied for an Amex card using a referral. Interestingly, during the application process, it showed 'No documents required.' However, later, they asked for documents and even conducted a video KYC. Despite that, my application was rejected, citing a low CIBIL score. But at that time, my CIBIL score was 768. Since when is a 768 CIBIL score considered low?

When I emailed the Nodal Officer about this, they replied that my application was rejected due to too many past inquiries. Every time, they come up with a new excuse. Now, I am finally filing a complaint with the RBI. If they didn’t want to issue the card, they could have informed me from day one instead of wasting the customer's time.

Many recent inquiries is part of CIBIL report. All banks reject new applications for this reason so its not anything related tk these special circumstances

 

[Hanuman Singh]

Seems like AmEx wants to pause and look back into what they've been doing.
They're pausing all new applications for the time being, probably for the next few months under the reason 'strategic business transformations'.

View attachment 85763

This does not affect current users but only the new applications.

They've been getting dragged for a decline in their quality of customer support, lack of new offers and the overall card value going down.
Do you think they will introspect all of it and come back even better and stronger?

P.S. Seems like some applications are still being approved so you might still have a day or two to apply and get your favorite AmEx card before the process is officially stopped for several months. No guarantees but can try your luck! Will update here once the officially application process has stopped.

Seems like AmEx wants to pause and look back into what they've been doing.
They're pausing all new applications for the time being, probably for the next few months under the reason 'strategic business transformations'.

View attachment 85763

This does not affect current users but only the new applications.

They've been getting dragged for a decline in their quality of customer support, lack of new offers and the overall card value going down.
Do you think they will introspect all of it and come back even better and stronger?

P.S. Seems like some applications are still being approved so you might still have a day or two to apply and get your favorite AmEx card before the process is officially stopped for several months. No guarantees but can try your luck! Will update here once the officially application process has stopped.

Seems like tariff war taking the toll, sound the trumpet now🤣

 

[ak_1978]

My view on this is that it is going to get tougher to get a premium card, benefits will see a devaluation while regular acceptance may increase. Too many YouTube videos, finfluencers educating folks on points and miles usage. We also have TF community, Cardexpert, Cardmaven, Savesage etc. Looks like all premium cards issuance is going to become like Emerald Metal. Sigh

 

[badg3rbyte]

Seems like AmEx wants to pause and look back into what they've been doing.
They're pausing all new applications for the time being, probably for the next few months under the reason 'strategic business transformations'.

View attachment 85763

This does not affect current users but only the new applications.

They've been getting dragged for a decline in their quality of customer support, lack of new offers and the overall card value going down.
Do you think they will introspect all of it and come back even better and stronger?

P.S. Seems like some applications are still being approved so you might still have a day or two to apply and get your favorite AmEx card before the process is officially stopped for several months. No guarantees but can try your luck! Will update here once the officially application process has stopped.

Taking that chance, if I apply now and they reject that application, would it be a credit hard enquiry and reject or just that they won't move ahead with the application? 🤔

 

[ccdc]

there are ppl who live on amex referral points as their primary income source..now they'll call themselves unemployed and ask govt for umemployment allowance....after all if i'm unemployed govt should do something....

 

[hender]

there are ppl who live on amex referral points as their primary income source..

"Quote of the day"

 

[coolguy1]

Taking that chance, if I apply now and they reject that application, would it be a credit hard enquiry and reject or just that they won't move ahead with the application? 🤔

To approve any new credit product, the bank needs a hard credit enquiry so if they process the application, there's a high chance there will be an enquiry.

 

[badg3rbyte]

To approve any new credit product, the bank needs a hard credit enquiry so if they process the application, there's a high chance there will be an enquiry.

My doubt is that the screenshot says they're not accepting applications at all. So, would they even take it?🤔

 

[coolguy1]

My doubt is that the screenshot says they're not accepting applications at all. So, would they even take it?🤔

Some people I know can't wait 6 months to get an AmEx card and will do anything to get one right now.
They've applied for the card, will update if they get approved! 🙂

 

[BVCBVC is verified member.]

The double incentive/commission rates were not sustainable, just like 25000 points for one lakh spend in old Magnus

Which cards you were referring to??

 

[Hello_World]

Feel sad for the referral sellers. I hope amex stop these referral programs in order to gain genuine users, not some chappris.

 

[drsel]

Which cards you were referring to??

All the Amex cards have huge referral commissions for the MGMer and also a smaller commission for the new member.

 

[BVCBVC is verified member.]

All the Amex cards have huge referral commissions for the MGMer and also a smaller commission for the new member.

Yeah Referrals part is a painful for Amex, but that's how they operate.

They might look at Referral Points and Acceptance issues.

Even I was expecting the same, mentioned that yesterday. If referral scheme is affected, lets see how customers accept it