Hello all! New member here and I thought I'd share my AmEx story with a bit of backstory; I've learned a lot from reading these posts, and thought I'd return the favor...
In Feb 2011, I had a ch7 drop off my credit reports. At the time I had 2 HSBC rebuilders and 2 Cap1 rebuilders, as well as several (many) student loans. All of these accounts were 3-8 years old, and I had 2 inquiries, for opening a checking acct and Comcast service. As soon as I knew my reports were clean, I apped for the Zync, and was declined due to high utilization (about 60%), low limits on cards (at the time my CLs ranged from $320-$635), and COs. Dejected, I applied for nothing else. I disputed all the COs successfully, and a few months later opened an AmEx savings account. I applied again; rejected, same reasons minus the COs. I also applied for the Paypal Extras MC, and was counteroffered Smart Connect w/$1000CL. Finally in November 2011, I applied for a 3rd time after some good luck with Cap1 (worthy of its own post) and was denied, but counteroffered the Zync w/$500CL and autopay. According to AmEx my EXP score at the time was 622. Suffice it to say that it took a month on the phone with CSRs to actually locate my card once it showed 'approved' online, and I had to set up the 'required' autopay myself, but I've been using it alot and paying early and often, and no problems so far.
I have no illusions, however, that this card will someday, or ever, turn into a better card. I'm pretty sure this is a test for AmEx; the sub-prime market is shrinking, debit card fees are (were) rising, and the economy is improving. I think it's a smart move on their part, and I for one am happy to have an alternative to Cap1. I am also thrilled that I wedged myself into AmEx's door. Hope my longwindedness helped someone, and I'll be happy to respond with any ?s.
Starting Score: 595