Hi all, has anyone got their platinum charge card application declined?
Applied for it yesterday, called today and was told my application was declined without giving me any valid reason (didn't ask for any paperwork either).
Annual income is $105k, currently having a $6k credit card and mortgage. Pretty gutted as I thought I am eligible for it, is there any way for them to reverse the decision?
I would close my $6k credit card after getting my AmEx approved…. and the application is for a charge card
Not amex but suddenly had a few rejections in the last 18m after almost a decade of churning - not sure what caused it for me given good income/lowish expenses
You probably have a better chance if you do it the other way around- cancel the $6k card first then apply.
Pretty gutted
really? What reaction would you have if something of actual life struggle happened?
🎻
â–’â–’â–’â–’
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â–’â–’â–’â–’â–’â–’â–’â–’â–’â–’â–’â–’â–’â–’â–’â–’ â–‘â–‘â–’â–’
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Exactly
If my application for a Card was declined, can I appeal the decision or re-apply? Oops, sorry - from the USA site but the advice will be the same here, you can always ask. And you have at least a month to get your next application in order.
Annual income is $105k
The minimum annual income for the Platinum Charge Card being $100K and you only just meet that. The regular expenses/liabilities you've listed (credit card and mortgage payments) might be just a little bit too high for their liking (which reduces your disposable income).
A little over six months ago when you were looking to get your mortgage, the bank told you that you had to cancel your Citibank Prestige card to get a pre-approval, which means you don't have a high enough income for both a high limit card AND a mortgage.
Once you've got a longer repayment history on your mortgage and/or an increase income, your chances of approval will be higher.
Pretty gutted
If you're wanting it to show off or use the card as a indirect way of saying you earn over $100K/year, trust me, it's not worth it. haha
$105k, not just a $100k pleb.
lucky bastard… I'm just on $19,479.20/year - which coincides with the NewStart allowance amount. Oh wait.. it is the NewStart allowance. I wonder if I can get a platinum card with that!
They have taken down all mentions of 100k income requirement from their application forms and website. I got approved with substantially lower income than 100k.
pretty gutted……….geeesh, I feel sorry for you /s
I'd hate to see how you react when negative things of actual importance happen to you…..you know like the 13 interest rate rises in 15months which I am sure would be (or shortly to) be savaging your mortgage rate
AMEX from experience has been the most ruthless with knockbacks, on a decent wage, zero debt etc, (haven't been knocked back from any other bank) haven't had one in 3 years as a result.
Just accept it and move on there are plenty of other options :)
Rejection is a way of life, if this is your reaction to a credit i'm kinda worried if a girl/guy/job ever rejects you. Acceptance is key.
Haha what a failure pffft
Pretty gutted
Sorry about your loss. Don't go it alone. Please reach out for help. Putting this here just in case
Lifeline: 13 11 14 or lifeline.org.au
Beyond Blue: 1300 22 4636 or beyondblue.org.au
Kids Helpline: 1800 55 1800 or kidshelpline.com.au
Headspace: 1800 650 890 or headspace.org.au
LOLz
To be blunt, you shouldn't even have qualified for the Prestige card to begin with. It used to be a minimum $150K income test then Citi realised that took out most of the market and dropped this requirement.
Amex obviously ran the ruler on you and deemed you higher risk so here we are.
Move on - plenty of cards out there. That piece of Amex metal is hardly worth crying over.
If you think you have a water-tight case, along with time, the ability to present your case, and perseverance, then fight.
My circumstances are different as I am on an Age Pension plus a bit of super. I also have an excellent credit rating, but that rubbish is useless at the end of the day. I was also not applying for high level cards such as the Amex Platinum. Even in an earlier life, the best I ever had was a Gold Amex.
I took them on a few years ago when I applied for a Qantas Amex card. I believed that I met all the conditions, but they refused. I just kept on pushing and pushing, probably until they finally realised I was not going to lie down and die. A massive waste of time I hear you all saying. Yes, it was, but I have all the time in the world I was rewarded later on when they upgraded my card to a better one because I proved my worth to them.
Last year I went through the whole thing again with NAB to get a Qantas Premier Mastercard to replace my old Woolworths Visa card which was discontinued. That was compounded by trying to deal with morons in the Philippines, but again, I just kept pushing them till I won. I am sure they, like Amex, are happy now with my business. On both cards, I would like a slightly higher limit that I've got, but that is probably a bridge too far. Both cards are paid in full every month without fail, and I have never defaulted on a payment. It probably doesn't help that I am depriving them of interest and their rip-off fees!!!
Thanks for your sharing.
Called them today, and was told my spending with my previous AmEx doesn't meet the requirement for a Platinum. I guess they would prefer someone who's not on their payment all the time so they can squeeze some interest from.
It's a Charge Card with zero interest. You pay a membership fee and they earn merchant fees from your spending. Consider one rung higher is the Centurion, offered to high-net-worth individuals by invitation only.
No interest but late fees are charged.
You can't carry a balance over month to month.
I've had one for 5yrs now and love the perks
Why? You already have $6k in credit card debt…… and a mortgage. How much debt do you want?
Nope