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Want to pull trigger on AMEX SPG, Advice

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Anonymous
Not applicable

Re: Want to pull trigger on AMEX SPG, Advice

It all depends op. I got the csp and freedom despite the 5/24 and that's considered a hard line.

If a bank wants to do business with you they will.

Remember also you can do recon with Amex even after a denial.

If that's your only Amex card they won't like your high utilization with them. They usually approve if you've been good with one of their accounts like a charge card or from what I've read under 25% utilization.

As 2011 says it all depends and its your descion. You won't know until you try. Just keep in mind that if you haven't hit 5/24 and want chase cards, it may limit your chances.

Also make sure you can hit the minimum spend with current spending habits. Spending more to meet a requirement usually offsets any rewards.

In my honest opinion, I would take the 3k to meet that spend and invest in lowering that 3800 to 3k.

Bonuses will always be there.

Just my thoughts op all the best regardless!

Message 11 of 38
Anonymous
Not applicable

Re: Want to pull trigger on AMEX SPG, Advice

Sorry 3.8k to 800*.
Message 12 of 38
Outdoorstech1
Frequent Contributor

Re: Want to pull trigger on AMEX SPG, Advice


@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

Message 13 of 38
Anonymous
Not applicable

Re: Want to pull trigger on AMEX SPG, Advice

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...

Message 14 of 38
Outdoorstech1
Frequent Contributor

Re: Want to pull trigger on AMEX SPG, Advice

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

Message 15 of 38
UncleB
Credit Mentor

Re: Want to pull trigger on AMEX SPG, Advice


@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.  Smiley Wink

Message 16 of 38
juniornj23
Established Contributor

Re: Want to pull trigger on AMEX SPG, Advice

I will never app for a card with if i own more than 50% of my credit limit
Amex ED (2000) Amex BCE (2000) Amex macys (5000) Amex Gold , VENTURE (5000) MC PLATINUM (600) CAP QUICKSILVERONE (1250) CAP QUICKSILVER (4500) CAP QUICKSILVER (3500) PENFED AMEX (5000) PENFED CASH REWARDS (25,000) PENDFED REWARDS VISA SIGNATURE (20,000) UPROMISE (1000) NFL (4000) OVERSTOCK (2800) HSN (3200) DISCOVER IT(8500) AMAZON PRIME (10000) MARVEL(7000) BOF VISA(2000) BEST BUY VISA CITI (9000) BLISPAY (9000)Amex Magnet (10,000) Uber (3100)

WELCOME TO 100K CLUB . LAST APP 08/29/18 Credit Score 8 TU 720 EQ 705 EX 724

Starting Score: 640
Current Score: 720
Goal Score: 850


Take the myFICO Fitness Challenge

CARD I want .
Chase Freedom and US cash +

Now back to the garden until 2020
Message 17 of 38
Anonymous
Not applicable

Re: Want to pull trigger on AMEX SPG, Advice

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. 

Message 18 of 38
UncleB
Credit Mentor

Re: Want to pull trigger on AMEX SPG, Advice


@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.  Smiley LOL

Message 19 of 38
Anonymous
Not applicable

Re: Want to pull trigger on AMEX SPG, Advice

you two care way too much. i just get hammered the night before, don't shower or brush my teeth, eat a breakfast taco to mask the breath and get on out there! lol
Message 20 of 38
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