AMEX ready or no? AMEX EXPERTS PLEASE CHIME IN

[creditguy]

Wait wait and wait. Let your current cards age some and get that EX up to at least 670. Although you could probably get a charge card with a 650 I would wait to at least 670 for extra approval padding. Of course it really depends on your overall profile and which card you want, but a little time and patience definitely won't hurt you.

[Anonymous]

Which Amex product are you interested in?

[sjt]

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@Anonymous wrote:

So I recently stepped out of the garden to do an Mini App Spree last friday.

I received 2 Barclays totaling $7K, Bloomies for $3K, TJmaxx for $3K , Nordstrom $1K  and Discover IT for $1.2K. I already have 2 Cap1 QS1 totaling $3050. My updated scores are as follows (after app spree): EX: 628 EQ: 646 TU: 683 ...

My question is, am I ready to apply for ANY AMEX cards? OR should I wait until my scores are higher? This will be my last card to complete my profile. CHIME IN PLEASE!

OH and the AMEX prequal site doesn't prequal me for anything!

Thanks in advance!!!

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I have seen Recent Amex approvals with your scores. It could be they are pushing for more card members given the Costco loss. I think the key thing with Amex I'd payment pattern and low utilization.

[Bman70]

There's a few schools of thought on that.. with six new cards, sometimes it might be best to apply before they hit the reports and kill your AAoA, score, and show all the new accounts. That's the original idea behind the "spree": So that you don't show a bunch of new accounts until after you've been approved for them all. However, it's been shown that AA can happen anyway, after everything reports. It's one throwaway hard pull if you aren't approved, so not a huge difference when on a spree anyway. Otherwise, wait might be longer because all the new accounts have to age. 

[CJ7]

I think EX 670 is the magic number.

[Anonymous]

My ex was 668 for both my delta and BCP. Edit for score. 

[Anonymous]

how about if you have an ex of 690 but a chp7 bk discharged on 2013 what are your chances of approval then ??????

(no amex cards included in bk only a macys card cobranded amex)

[Rebuilding69]

I got my Everyday card with a 663 EX. Judging by how long it lagged at the 'thinking' screen, I think I got lucky. Had a paid judgement & collection listed when I apped.

[sjt]

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@Anonymous wrote:

how about if you have an ex of 690 but a chp7 bk discharged on 2013 what are your chances of approval then ??????

(no amex cards included in bk only a macys card cobranded amex)

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I think Amex requires 5 years post bk when they were not IIB

[sjt]

Amex does not rely solely on  FICO scores in their approval process. They have their own internal scoring system based on their own data. This is why there are some folks with 700+ FICO scores denied and some with much lower scores that have been approved.

I think what Amex focuses on most is payment pattern, utilization, number of new accounts, inquiries, current or past relationship.

If you look in the Approval section there have are folks who were approved with 630-640 scores. I do think Amex wants to expand cardmembership and is loosening up approval criteria a bit.