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@JamesG wrote:
Sounds like a plan, also my income is around $60k. Will that be a negative factor?
That should be a positive factor....
I'll send you EO email address in private email now.
No that is a big benefit... It means that AMEX can expect to see more money from you in the future, income becomes an issue when you make less than $24-30k per year, YMMV, some get AMEX when they only make 12k a year ( my son for example, lives at home)... But the higher the income the more likely you are to be approved.
@JamesG wrote:So here's a quick summary of my situation, I just leased a 2013 Toyota Highlander SE on memorial day weekend for $400/mo (first payment down, 15K miles per year. Sticker was $38 and I had to beat up their staff for 3 hours but got it done!). Anyways, that brought to my attention how badly my credit utilization on my CC's was hurting me bc I was basically at 100% (I know I'm a moron...). Anyways, I just paid off all 4 of my cards in full and I'm closing that stupid BestBuy card, I'm also going to have the owner of the closed Chase account pay it off as that's not an issue which would only leave me with my $1500 GE balance which I will pay off over the next 6 months while it has 0% interest. I'm planning on spending 6 months in the garden to let my score heal a bit as I just oopened that business line of credit and swapped an auto loan for a lease.
**What I want to know is come december which card should I apply for and which report(s) does AMEX pull, so I can monitor the correct one?**
Side note; per ScoreWatch my EQ was 680 but when the dealership pulled all 3 they said my best one was 640, of course they're using a auto loan model which I won't fair well against consider I've had 4 different auto loans in the last 18 months...I know stupid again, words of advice on that....1. ALWAYS take a used car to a mechanic before you buy it especially if it's a one off used car dealership 2. Don't buy a stick shift car for your wife because you think it'd be cool if she learned to drive one... : /
I'm guessing that after paying down all my cards and spending 6 months in the garden I'll be up around 700, per scorewatch at least. Anyways., any adivce is welcome!
I would keep your eye on the Gold Delta Skymiles... It's one of the easier ones to get in terms of score alone.. Good luck..
@JamesG wrote:So here's a quick summary of my situation, I just leased a 2013 Toyota Highlander SE on memorial day weekend for $400/mo (first payment down, 15K miles per year. Sticker was $38 and I had to beat up their staff for 3 hours but got it done!). Anyways, that brought to my attention how badly my credit utilization on my CC's was hurting me bc I was basically at 100% (I know I'm a moron...). Anyways, I just paid off all 4 of my cards in full and I'm closing that stupid BestBuy card, I'm also going to have the owner of the closed Chase account pay it off as that's not an issue which would only leave me with my $1500 GE balance which I will pay off over the next 6 months while it has 0% interest. I'm planning on spending 6 months in the garden to let my score heal a bit as I just oopened that business line of credit and swapped an auto loan for a lease.
**What I want to know is come december which card should I apply for and which report(s) does AMEX pull, so I can monitor the correct one?**
Side note; per ScoreWatch my EQ was 680 but when the dealership pulled all 3 they said my best one was 640, of course they're using a auto loan model which I won't fair well against consider I've had 4 different auto loans in the last 18 months...I know stupid again, words of advice on that....1. ALWAYS take a used car to a mechanic before you buy it especially if it's a one off used car dealership 2. Don't buy a stick shift car for your wife because you think it'd be cool if she learned to drive one... : /
I'm guessing that after paying down all my cards and spending 6 months in the garden I'll be up around 700, per scorewatch at least. Anyways., any adivce is welcome!
Some data on Gold Delta Skymiles....
http://www.dailymarkets.com/creditcards/delta-credit-card/
http://creditcardforum.com/american-express/837-delta-skymiles-credit-card-read-before-you-apply.htm...
Older MyFico post that discussed this... May find it helpful..
http://ficoforums.myfico.com/t5/Credit-Cards/Easiest-AMEX-card-approval/td-p/1847851
http://creditcardforum.com/blog/credit-score-needed-for-american-express/
Ok so I'm monitoring my score with experian's service now for this specific purpose and here's my burning question, as of right now I have 10 inquiries (yikes!) on my EX. This is a little confusing bc I count 13 but my report summary says 10. Anyways, 7 of these are from a year ago when I was buying a car and in the next 30-60 days they won't factor into my score but will still show on my report. That said right now my Experian score is a 656 and after my new CL utilization of 10% posts instead of the 98% I was at I expect to see a pretty substantial bump but I just wonder if this is too many inquiries for an AMEX PR Gold card or if they only look back so far? Again my AAoA is 2.5 years with no derogs or late pays of any sort.
Inquiries listed on EX report
1. Toyota Dealer (recent lease) 5/13
2. CapOne Auto (second auto loan) 6/12
3. Compass Bank (second auto loan) 6/12
4. Chevy Dealer (second auto loan) 6/12
5. CapOne Auto (second auto loan) 6/12
6. Chase Auto (second auto loan) 6/12
7. Gateway One Auto (second auto loan) 6/12
8. Credit Union (second auto loan) 6/12
9. Microbilt (not even sure what this is) 5/12
10. AMEX 12/11
11. Chase Credit Card 12/11
12. Advancial Credit Union (attempted auto lender?) 12/11
13. Gateway One Auto (first car loan) 12/11
All of those 'second auto loan' inquiries from 6/12 should count as 1 for reporting purposes. I think you will probably be fine.