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@SouthJamaica wrote:
@Outdoorstech1 wrote:I received my first Amex, BCED card Last March, with a $5k limit and was approved with a 672 FICO. I recently asked for a CLI on the card but was denied because apparently I asked once before within the past 90 day's and was denied because my balance on the card was $4,400 out of my $5k limit. IAs of today my balance is $3,800, and always paying every two weeks.
I really want to bite on the 35,000 bonus points on the SPG card before this month is over. Is that a tougher card to acquire?
I heard they usualy always pull Experian and my Experian MYFICO is currently at 721 and since last march I've have two collections come off my reports, and one baddie pay off. So I am wondering if I would be approved or not. I did try AMEX pre approval link but it could not put me with a card at this time. Is it possibly due to the high balance on my current AMEX card, will that affect me getting approved for the SPG card?
Any tips, insite, advice? Thanks guys!
You're not going to be approved, so don't do it.
LOL PFFFFT
I think SJ's point is that Amex doesn't typically appreciate high utilization. The OP not only has current high utilization, but apparently also a history of high utilization. It would also reason that if he hasn't received a CLI (which Amex is usually pretty good about giving) that they will be reluctant to open a new account. Finally, the SPG is considered one of their harder to get cards, so that also raises the bar a little.
On the other hand....
1. You never know with credit until you apply.
2. It is very possible that, as you stated, even if the OP takes a shot that it will only be a SP (thus no real Credit Score loss).
Decisions....decisions...decisions...
I have had the high uti because I made a large purchase that I have been payng off over time. I'm taking advantage of that 0% on the card for sure. Does amex do a soft pull if you already have a card from them? I received a hp back in March when I apped for the BCED
@Outdoorstech1 wrote:I have had the high uti because I made a large purchase that I have been payng off over time. I'm taking advantage of that 0% on the card for sure. Does amex do a soft pull if you already have a card from them? I received a hp back in March when I apped for the BCED
Generally, if you already have an account with them it's a SP if you're denied, and a HP if your approved. If you look hard enough you'll find an occasional exception, but for the most part it's reliable.
Stranger things have happened. An analogy, apply for credit like you get ready for a first date. Make your self representable. Best face forward with whatever your working with!
Having 1-9% UTL does help cases, me in particular, as I think that's a reason the current lenders I have said **** it, here's a card.
Like someone else said, worst case is a SP, you have a history, and this is the highest bonus ever....but...you need to do what's best for you! Maybe a shiny new Hilton is in your future instead as more beneficial.
@Anonymous wrote:Stranger things have happened. An analogy, apply for credit like you get ready for a first date. Make your self representable. Best face forward with whatever your working with!
Having 1-9% UTL does help cases, me in particular, as I think that's a reason the current lenders I have said **** it, here's a card.
Like someone else said, worst case is a SP, you have a history, and this is the highest bonus ever....but...you need to do what's best for you! Maybe a shiny new Hilton is in your future instead as more beneficial.
BuYao, I love it!
In my case, I have a small zit on my face (old credit report baddie) and while I can try to conceal it, I feel I'll look better in a few weeks when it goes away (ages off). At that time, I plan to brush, floss, and put a little 'goop' in my thinning hair and try to make myself presentable for a nice, shiny ED card.
If they turn me away, I could stand outside their window holding up my boom box (recon), but I'll likely just head back home and try again another day, since it's just a SP if denied for existing Amex card holders.
My own credit is in the "awkward teenager" stage, and I'm hoping it will look much better the more it matures.