Amex Declined, but I met all criteria

[0xShailesh]

Hi All,

I applied for an amex platinum reserve card today, and it was instantly declined.

There are my details -

ITR - Greater than 6L
Cibil - 769
Credit inquiry in last 6 months - 14
Credit utilisation - 39%

I don't understand what to do now. I recently got Axis and SBI card, but wanted to get amex.

Suggestions will be appreciated.

 

[sharpened]

14 credit inquiries might be the reason. That's a LOT.

 

[0xShailesh]

14 credit inquiries might be the reason. That's a LOT.

ohh I see, what's considered acceptable?

 

[VGisHere]

Generally, less than 1 a month, 3/quarter!

 

[Wealth is my birth right!]

Hi All,

I applied for an amex platinum reserve card today, and it was instantly declined.

There are my details -

ITR - Greater than 6L
Cibil - 769
Credit inquiry in last 6 months - 14
Credit utilisation - 39%

I don't understand what to do now. I recently got Axis and SBI card, but wanted to get amex.

Suggestions will be appreciated.

14 enquiries is abnormal in the view of a credit issuer
Apply after 3 months with less CIBIL enquiries on the 3 months duration

 

[anirban.choudhuryanirban.choudhury is verified member.]

Hi All,

I applied for an amex platinum reserve card today, and it was instantly declined.

There are my details -

ITR - Greater than 6L
Cibil - 769
Credit inquiry in last 6 months - 14
Credit utilisation - 39%

I don't understand what to do now. I recently got Axis and SBI card, but wanted to get amex.

Suggestions will be appreciated.

High credit utilisation is the reason for rejection

 

[0xShailesh]

14 enquiries is abnormal in the view of a credit issuer
Apply after 3 months with less CIBIL enquiries on the 3 months duration

Okay will not apply for any cards or loans in these 3 months. Thanks.

 

[0xShailesh]

High credit utilisation is the reason for rejection

I see, what should be the desired utilisation ratio? I'm think of clearing all the outstanding balance in my cards, and possibly even pay a little bit more, to get a negative utilisation, where bank owes me money, will this work?

 

[CardSeeker]

I see, what should be the desired utilisation ratio? I'm think of clearing all the outstanding balance in my cards, and possibly even pay a little bit more, to get a negative utilisation, where bank owes me money, will this work?

just keep ur utilisation ratio below 20%

dont apply for too many cards

 

[0xShailesh]

just keep ur utilisation ratio below 20%

dont apply for too many cardOkay,

just keep ur utilisation ratio below 20%

dont apply for too many cards

Okay will do, thanks a lot.

 

[s73uresh]

I feel the number of credit enquiry is really a rude or harsh rule which credit rating companies should remove, or atleast banks should validate subjectively, further on cibil score, payment history, aging and credit utilization. Just because you do enquiry it doesn't mean a person is credit hungry or in need of credit or money. In fact I have cleared 3 housing loans, 2-3 consumer appliances loan from Bajaj Fiserv and I have almost got all private bank's credit cards except SCB which keeps declining everytime, whereas a week before I got amex travel platinum card approved and issued.

 

[s73uresh]

I use credit card purely for attractive offers and discounts rather than for credit or loan

 

[senasenthil]

I feel the number of credit enquiry is really a rude or harsh rule which credit rating companies should remove, or atleast banks should validate subjectively, further on cibil score, payment history, aging and credit utilization. Just because you do enquiry it doesn't mean a person is credit hungry or in need of credit or money. In fact I have cleared 3 housing loans, 2-3 consumer appliances loan from Bajaj Fiserv and I have almost got all private bank's credit cards except SCB which keeps declining everytime, whereas a week before I got amex travel platinum card approved and issued.

The problem is the decision is taken without human intervention so there is no possibility of subjectivity