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Home > AmEx Doesn't Like Me Anymore

AmEx Doesn't Like Me Anymore

February 10th, 2014 at 02:58 pm

I have had a Gold card for two years now. Initially I applied for it for the $250 reward, but kept it because AmEx is the only cc you can use at Costco. I almost always buy gas once a week there. We also shop inside, usually once monthly. I earned points that I cashed in for gift cards. Smile

The first year the annual membership fee was waived. The second year I called to cancel the card and was told I could have the fee waived again if I wanted to keep the card. This year I decided I would apply for a different card account - the one specific to Costco and with higher % back rewards.

Well, I was denied! *gasp!*
That really surprised me. I haven't been denied an account anywhere in years. In addition to the fact I have had an excellent record with my Gold account.

So today I dropped to Plan B and called to cancel my Gold account. I was hoping they would offer to waive the $125 annual fee *again* in order to keep me. They didn't. Frown

On a happier note - I did cash out the little bit of points I had for a $25 Cheesecake Factory card and a $10 Bath & Body Works card.

I figure by this time next year I'll be posting about how they have sent me an offer with a bonus reward I can't pass up. (So they've probably done me a favor.) Big Grin

4 Responses to “AmEx Doesn't Like Me Anymore”

  1. creditcardfree Says:

    I thought I had been denied a card recently, but instead it seemed to go through another process and I was notified about a week later that I was approved. Any idea if this could be the case for you? Otherwise, it is possible you will be offered something great in the future!

  2. snafu Says:

    Yikes, I'd follow up and ask for reasons for denial. If there something on your credit report gone awry it's usually easily corrected. It would be ironic if you were denied because you have a fee based AMEX card that you planned to cancel for the no fee Costco card.

  3. FrugalTexan75 Says:

    I think I'd look into the reasons as well.

  4. Looking Forward Says:

    I did ask by phone and viewed the denial letter online. Standard stuff.
    Proportion of revolving balances to limits too high. (cc debt on 0% cards)
    Number of credit card accounts with balances. (some are paid off monthly but they don't know that)
    Number of inquiries recently. (Chasing rewards.. Smile I do have two new credit cards. )
    Proportion of loan balances to loan amount too high. (Mortgage our only loan.. so whatever)
    My FICO is good, could be better, 730s.

    I'm not worried. Just slightly aggravated.

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