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Hi all!
Today I finally decided to apply for the Amex PRG, just to see what would happen. I recently got a CLI on my only credit card, which in turn caused my score to jump all the way from 618 to 699! After submitting my application, it said to contact them in order to provide address verification. Is this usually a good sign for approval? And if so, what exactly is needed for this address verification?
Thanks much!
Unfortunately I don't have experience to answer your question: Sorry! But that's a HUGE score jump from a CLI! Can you tell us a bit about your credit profile? Why did it have such a big impact?
I'm honestly not too sure why it had such a huge impact, I was completely shocked when it happened. I've only had the credit card for 7 months, with an initial credit line of $700. I've generally kept the balance under $200 until the past two months, and it is currently at $615. The CLI increased my limit up to $1500, so I'm guessing it just has to do with my utilization.
Well whatever it is, that's great! I assume you're just new to credit, then, and don't have any baddies on your report?
I got approved for the PRG last week but I'm out of town right now so it's probably sitting in my mailbox at home....Can't wait to use it! I can't imagine why they'd want more information if you were declined. It might not be an acceptance yet, but I'm fairly confident that it's not already declined!
Correct, no baddies or late payments, and I always pay more than my minimum. And indeed, I'm pretty new to credit at 19, and my oldest account is 7 months.
I first heard about the PRG a few months ago, and instantly decided that was my dream card for now. Can't wait to call them first thing in the morning to find out!
@swimswam wrote:Correct, no baddies or late payments, and I always pay more than my minimum. And indeed, I'm pretty new to credit at 19, and my oldest account is 7 months.
I first heard about the PRG a few months ago, and instantly decided that was my dream card for now. Can't wait to call them first thing in the morning to find out!
Just keep in mind that is is a charge card and must be paid in full each month. If approved, congrats. Building a relationship with AMEX is a good move. Hope your were honest with you income on the app. Sometimes AMEX likes to check.