Business Platinum Card from American Express
130,000 MR points
What Happens If You Get Declined for a Credit Card?
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Business Platinum Card from American Express
- Earn 90,000 MR points upon spending $15,000 in the first three months
- Plus, earn 40,000 MR points upon making a purchase in months 14–17 as a cardholder
- And, earn 1.25x MR points on all purchases
- Also, receive a $200 annual travel credit
- Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
- Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
- Credits and rebates for business expenses throughout the year with Amex Offers
- Bonus MR points for referring family and friends
- Qualify for the card as a sole proprietor
- Annual fee: $799
18 Comments
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This recently happened to me. After being an Amex customer of over a decade my application for the Bonvoy card was met with the dreaded “your application is under review and will take 10 business days to process”. I never did get a response so I called and the agent wouldn’t provide a reason but said I could reapply in three months time.. I previously held gold and platinum cards in 2019 and 2023 and currently hold premium cards from other lenders so this was disappointing :/
Just curious if you think I got declined for the TD Aeroplan Visa (that currently has no fee first year and bonus points) because: (1) I have an Equifax alerts on for any new credit applications and/or (2) I had this same card in 2021 but cancelled it in November 2021 (after getting the annual fee waived the first year?} . My credit history etc is excellent so I know it’s not my credit rating.
As for the CIBC business cards, the credit application system is exactly the same as it is in the branch. Getting the Bizline card online was not difficult, but does require a branch visit to give them a copy of your Master Business Licence and to sign one additional form.
This is so frustrating! I have never been approved for the TD Aeroplan card the few times I have applied. I always get worried about reapplying too many times and the ding on my credit score.
I recently tried the Aeroplan Biz Gold (on your reco) through a friend who works at CIBC. She said it was declined due to TDS – even though I have banked with them for years and I have the Aventura with them.
I have recently consolidated a few small limit MBNA cards by calling their call center. I am considering cancelling my Amex Essentials as I have Platinum and don’t really use this card – hopefully to reduce this ratio.
I have high limits on HSBC Premier MC and an RBC Visa which I am not prepared to give up as I cannot guarantee I would get a similar limit with other cards at the moment.
I already have a TD Aeroplan infinite visa through my TD all-inclusive banking plan. Now, how do i get another card with this free 15000 aeroplan miles (after first purchase ) ??? thank you
The card is currently offering First Year Free so you’d get that offer if you were to apply for a new card now.
I have a question. I have blocks with Equifax and Transunion die to identity theft.
Any suggestion how to expedite my applications since I’ll not be approved instantly anymore.
I went to CIBC in person and a manual review was still required. Outcome unknown at this point.
Credit file blocks are known to make the process more cumbersome. Unfortunately I’m not aware of any ways around this, since they’re done for your own protection after all, but maybe someone who has experience with the matter can chime in.
Hello! Thanks for the good work, its always interesting. About TD. I’m having a lot of problems getting credit for TD. Anyone know what’s the problem? What is the trick? Last 12 credit cards, all approved but TD. My mother tried yesterday and application could not be processed. Are we just unlucky?
My spouse and I applied in the last 2 weeks. We got approved but in talking with them their systems are not working well. An agent told me that the automatic system is applying the wrong address to the request and assigning branches in other provinces as the closest branch. I suggest you call them for reconsideration and express empathy for their recent system glitches.
Hi Ricky,
How long would you recommend waiting after a denial? It’s Amex (non-business) I’m most interested in at the moment. Usually, I get accepted by them (have 3 of their cards currently) but occasionally I get refused.
Thanks Ricky for your article.
I applied for Biz Plat in May of last year, and then self-referred to Biz Gold in July after hitting the minimum spending requirements. Was declined because "they had the original application approved." I self-referred to Biz Gold in November and they denied me for the same reason. The rep told me to wait 6 months until trying again. Should I cancel the Biz Plat and apply for the Biz Plat again in June?
Excellent article Ricky. Can you please share your experience with HSBC denial? Did you contact them for a reconsideration?
I did – they mentioned it was due to a high number of recent inquiries, and the reconsideration unfortunately resulted in the same outcome. But I can rest easy knowing that I did all I could.
Hi Ricky,
Thanks for your writeup. How long do you wait after a decline to try again at the same bank/same product?
I was recently declined for the Avion 25k FYF promo but I know what triggered the decline. Now that that has been fixed, can I try again within 3 months time?
Thanks!
I usually wait 3 months, bearing in mind the strategy of "going easy" on the credit bureau that the issuer pulls from in the meantime.
So true. Just got turned down by MBNA on the basis of too many credit enquiries but got a third Amex Plat card the same week;)
Did you call their credit department and ask to split the credit limit on an existing MBNA card (if you have one)?