topic Re: Should I try for Amex? in Credit Cards

Should I try for Amex?

720wannabe — Thu, 24 Jan 2013 21:12:07 GMT

Hi everyone. I want to build more credit but am unsure if I should wait or go ahead. I read that Amex typically pulls EX. I don't have my real EX but I pulled from Experian Direct today and it was 739.

I have one Cap 1 - $300 since Oct 2012

Baddies:

Chapter 13 dismissal set to be deleted April 2013

1 collections from Fair Collections and Outsourcing for 1900 to be deleted 7/2014

Some older good stuff -

Had a discover with a 10K limit that I closed in 2005 with a high credit limit of 1100.

I had an american express in 87- can barely remember but it was only showing as a $30 payment not sure what the limit was but paid as agreed.

A credit union account paid as agreed.

This is definitely my best report so I would love to find a credit card to increase my limits, etc. Should I try now or wait with Amex or do you have a better suggestion for a card to try.

THanks in advance.

Re: Should I try for Amex?

daybreakgonesXe — Thu, 24 Jan 2013 21:14:38 GMT

720wannabe wrote:
Hi everyone. I want to build more credit but am unsure if I should wait or go ahead. I read that Amex typically pulls EX. I don't have my real EX but I pulled from Experian Direct today and it was 739.

I have one Cap 1 - $300 since Oct 2012

Baddies:
Chapter 13 dismissal set to be deleted April 2013
1 collections from Fair Collections and Outsourcing for 1900 to be deleted 7/2014

Some older good stuff -
Had a discover with a 10K limit that I closed in 2005 with a high credit limit of 1100.
I had an american express in 87- can barely remember but it was only showing as a $30 payment not sure what the limit was but paid as agreed.
A credit union account paid as agreed.

This is definitely my best report so I would love to find a credit card to increase my limits, etc. Should I try now or wait with Amex or do you have a better suggestion for a card to try.

THanks in advance.

Hmm. As long as you didn't burn AMEX in the past i think you're good to go with a charge card now, maybe a revolver. However, if you can wait the 3 months until that BK drops off, you'll watch you scores go up and it would be less to question on a manual review :P Then you'll be almost as good as gold for either charge or revolver!

Re: Should I try for Amex?

ibmrad7 — Thu, 24 Jan 2013 21:41:33 GMT

Whats your Annual Income.

If I were you, I would hold onto applying for AMEX until I build a better portfolio.

Re: Should I try for Amex?

ryanbush — Thu, 24 Jan 2013 21:48:29 GMT

I don't think you would get a revolver, but I think you woud have a good chance at a charge card if you didn't have any lates with AMEX in the past.... plus with that backdating it would help more than hurt to get an AMEX

Use your charge card for 4-6 months and you should be able to get a revolver

Re: Should I try for Amex?

720wannabe — Thu, 24 Jan 2013 22:25:21 GMT

72k

Re: Should I try for Amex?

youngandcreditwrthy — Thu, 24 Jan 2013 22:54:15 GMT

I think you'd get approved for a BCE...or another "revolver" lol

Re: Should I try for Amex?

720wannabe — Thu, 24 Jan 2013 23:16:30 GMT

Do I specifically have to apply for a certain card or do they decide?

Re: Should I try for Amex?

Repo-ed — Fri, 25 Jan 2013 00:10:36 GMT

If you think you are borderline, then go for the delta gold and then apply for the real revolver you want.

This way, if you are approved for the Gold, you MAY get away with a single-pull for Gold + revolver you really want.

If you are declined for the Delta, then you'll only get hit with one HP and you won't be able to get the other revolver anyway.

Re: Should I try for Amex?

CredittotheMax — Fri, 25 Jan 2013 00:27:32 GMT

I woud say go ahead and apply for a charge card and if you can backdate that joint :smileyhappy:

Re: Should I try for Amex?

720wannabe — Fri, 25 Jan 2013 01:15:16 GMT

Well I tried for the Delta Gold Skymiles- was thinking positive thoughts the whole time... and

came back as not approved. Went to the status page and said it was because of the dismissed chapter 13 that is coming off my report in freaking APRIL! I feel kind of dumb but really want to have some positive credit in my favor. Geez.

Guess I need to wait until the BK is gone in April before applying. They checked Experian. THanks guys! Hoping this will help someone else make their decision.

:smileysad:

Live and learn. I was thrilled that my EX had gone up 109 points since October. Guess points are not all that matter.

Re: Should I try for Amex?

SnackTrader — Fri, 25 Jan 2013 03:58:54 GMT

Sorry to hear about the denial!

If you weren't already, start counting down the days until that thing drops. You will be in a whole new playing field then, and I wish you luck.

And feel free to use this opportunity to get a free copy of your Experian report by selecting "denial or adverse action" on their site. It's always helpful to check it from time to time, even if you think you know what's on it.

Re: Should I try for Amex?

jamie123 — Fri, 25 Jan 2013 06:02:04 GMT

Sorry about the denial.

I think that you need to add at least 1 more credit card now though. I would suggest apping for a Walmart card. Your scores and history would give you a good chance of approval for that card. You have a very thin file and you need to start building it by having good credit report every month.

The Walmart card is serviced by GE and they are very generous with CLI over time and you get a free TU score every month after signing up for electronic billing.

The Cap1 card you have is a good starter card but they are terrible when it comes to CLI.

Re: Should I try for Amex?

beb86 — Fri, 25 Jan 2013 06:07:35 GMT

SnackTrader wrote:
Sorry to hear about the denial!

If you weren't already, start counting down the days until that thing drops. You will be in a whole new playing field then, and I wish you luck.

And feel free to use this opportunity to get a free copy of your Experian report by selecting "denial or adverse action" on their site. It's always helpful to check it from time to time, even if you think you know what's on it.

+1 and yes I would try again after your BK drops........

Re: Should I try for Amex?

720wannabe — Tue, 05 Feb 2013 01:13:59 GMT

Thanks to all of you. It was pretty depressing. I think I apped on the 24th of Jan and was so #*(&$#(*& to check my Experian on Feb 2 and see that the chap 13 dismissal had fallen off!!

So, I got brave tonight and called Amex to let them know that I pulled my EXP report on the 2nd and there was no Bk on there. The guy asked me to fax it to their media dept. Immediately, my app status changed from denied to in progress.

Is there any chance they will approve me at this point? My FAKO is showing a 730 with a collection from 2007. I have one revolving- Cap 1 and an amex from 1987 (just out of high school) and a discover from 1992 that had a 10K limit.

In the meantime, I got a couple of $500 limits with the shopping cart trick for Express and Victorias Secret. I shop at both places and will get the rewards and pay off when I use. It has not shown up on my credit as of now.

Keeping my fingers crossed but not allowing myself to get too excited- hoping for the best.

Re: Should I try for Amex?

Tryon2improve — Tue, 05 Feb 2013 01:19:12 GMT

I have heard good things about the Amex review. I would check tomorrow morning to see if your status changes again to APPROVED! If it hasn't call in and talk to them. I feel positive about your situation.

Re: Should I try for Amex?

720wannabe — Tue, 05 Feb 2013 01:31:58 GMT

Hi Tryon2improve- Thank you. I'll take all the happy thoughts I can get.

My only thought is if they keep a copy of the report they pulled on the 24th or if they will pull another or verify the info with EXP from the original. Do they ever pull from other bureaus in this situation?

Re: Should I try for Amex?

Tryon2improve — Tue, 05 Feb 2013 01:52:54 GMT

Typically they will SP your report that you provided (and the one they pulled previously) verify the information and formulate a new score then make the credit decision. I don't think you will be triple pulled or have them pull another CB report. I had to provide a copy before when I applied for a CLI, and the changes that were on my report weren't enough to make a difference at the time (ie, 1 of 3 collections dropped off and so did a judgement). Good luck!

Re: Should I try for Amex?

astritaho1979 — Tue, 05 Feb 2013 02:46:04 GMT

I dont even know what some posters here suggesting.I would not apply for amex with the current situation your in.You dont stand a chance in my opinion.Amex is one of the most conservatives lenders out there and they will deny you just for the ch13.alone.I am suprised at some poster here misleading you in to applying for something that is 100% deny.IMO

Good luck though

Re: Should I try for Amex?

jake619 — Tue, 05 Feb 2013 03:15:08 GMT

I think the previous history weighs more in your favor than most expect. If you didn't burn them it will be a positive factor. They didn't triple pull originally so that's a bonus. They are known to triple pull when you are borderline so yea, it wouldn't shock me to see them pull the others to double check the BK.

Unlike the perpetual Amex hating PP 1979 the rest of us are rooting for you.

Re: Should I try for Amex?

calihlove75 — Tue, 05 Feb 2013 03:21:06 GMT

720wannabe wrote:
Well I tried for the Delta Gold Skymiles- was thinking positive thoughts the whole time... and

came back as not approved. Went to the status page and said it was because of the dismissed chapter 13 that is coming off my report in freaking APRIL! I feel kind of dumb but really want to have some positive credit in my favor. Geez.

Guess I need to wait until the BK is gone in April before applying. They checked Experian. THanks guys! Hoping this will help someone else make their decision.

:smileysad:

Live and learn. I was thrilled that my EX had gone up 109 points since October. Guess points are not all that matter.

At least you have your current Experian Fico now! Try again in a few months when it drops off and you will be approved!! It took me two tries to get my Amex. Congrats on your progess and don't feel dumb or take it personal.