I see Amex in my future or Not.

gwizdak24 · ‎02-07-2015

The venture card is definitely popular huh? I am tempted to apply but honestly the only card I want is an amex.

I have 5 store cards (v.s, express, overstock, macy's, bob's discount furniture), citibank, occu, nfcu, nfcu loc, chase, 2 capitalones.

Both NFCU has high utilitazation (I Used those a lot and pay), the other cards either have 0 or very small amounts on it (I use and I pay immediately)

I did apply for an amex costco in July but was denied

I have 7 inquiries on Transunion(5 falling off this year). 4 on equifax(2 falling off this year), and 8 on experian (5 falling off this year).

Question is: what are my chances of getting an amex? Should I wait til all balances are paid off, or should I wait til my inquiries fall off at least on experian?

I used to be an AU on someone's account, I took myself off and interestingly I can still sign on. Would that make a difference? I tried the prequalified but nothing came up.

The only fico score I know is equifax through citi which is 680 something

ohhh and not to forget, I have a negative verizon on my experian which I have been trying to dispute for ages since it wasnt mine but no luck.

Oslo · ‎02-07-2015

You really need to know your EX score since that's the one Amex uses 99.9% of the time.

To my understanding the charge cards (Green/Gold) along with delta and everyday are the easiest to get approved for.

Anonymous · ‎02-07-2015

@gwizdak24 wrote:
The venture card is definitely popular huh? I am tempted to apply but honestly the only card I want is an amex.
I have 5 store cards (v.s, express, overstock, macy's, bob's discount furniture), citibank, occu, nfcu, nfcu loc, chase, 2 capitalones.

Both NFCU has high utilitazation (I Used those a lot and pay), the other cards either have 0 or very small amounts on it (I use and I pay immediately)

I did apply for an amex costco in July but was denied

I have 7 inquiries on Transunion(5 falling off this year). 4 on equifax(2 falling off this year), and 8 on experian (5 falling off this year).

Question is: what are my chances of getting an amex? Should I wait til all balances are paid off, or should I wait til my inquiries fall off at least on experian?

I used to be an AU on someone's account, I took myself off and interestingly I can still sign on. Would that make a difference? I tried the prequalified but nothing came up.

The only fico score I know is equifax through citi which is 680 something

ohhh and not to forget, I have a negative verizon on my experian which I have been trying to dispute for ages since it wasnt mine but no luck.

How high are your balances on the NFCU cards? If substantial you definitely need to wait until those go down. You really need to have an idea of your Experian score as that is what AMEX uses. The inquiries don't seem to hurt with AMEX but that collection in Experian could be hurting your chances. The high balances though are probably what's doing the most damage to your chances.

Anonymous · ‎02-07-2015

trust me im not too fond of capital one and i too applied and got 10k at at a decent rate compared to my cards.

gwizdak24 · ‎02-07-2015

ok I will work on the balances on my nfcu. Maybe the best thing is to pay everything down to 10%.

Also will check my experian score. I was thinking about purchasing the package on here that is 25$ a month for all three scores and monitoring.. It seems worth it.

Sapingo, capitalone gave me my 1st card and I am grateful but I already have two. The only thing that worries me is the 2 or 3 pulls. I don't need that. lol.

CreditCuriosity · ‎02-07-2015

@gwizdak24 wrote:
ok I will work on the balances on my nfcu. Maybe the best thing is to pay everything down to 10%.

Also will check my experian score. I was thinking about purchasing the package on here that is 25$ a month for all three scores and monitoring.. It seems worth it.

Sapingo, capitalone gave me my 1st card and I am grateful but I already have two. The only thing that worries me is the 2 or 3 pulls. I don't need that. lol.

Package is deffinetly worth it for $25 a month to have a pretty close snapshot to what your current scores are although it lags behind a few days sometimes more then a few days, but least you have a good idea always what your TRUE fico is.. I would say if you Exp score > 660 as stated to many you probably could get the delta.. > 680 most likely you will be approved even with a baddie or a late as long as they aren't recent. Really it comes down to score and what your Utilization is at on your other cards.. <30% and score > 680 app away, otherwise hold off.

Anonymous · ‎02-07-2015

In a nutshell, in order to get approved for an Amex, you will need to have a profile along these lines(YMMV):

Scores: minimum 660s and above on Experian
Utilization: as low as possible but 3-10% is the best
none to 1 derogatory
no blacklist
AAoA 6-8 month

From my study of the approvals on Myfico...you generally will get in with these numbers. Income doesn't seem to play a huge part in the scores. I've seen people post incomes in the $20-30K and get approved?

As mentioned YMMV