American Express Card

[ladyvg270]

I have cleared my credit report from 17 collections to 4

The only thing I owe is Norfolf Financial I have been paying for a year now the balance was $591 now it is $216 on-time every month for a yr, and I have a doctors bill that is 205 I am about to start paying that off very soon.

The other two are paid off but there still on my credit Credit One ($893) from 2004 and Swiss Colony $72 I have GW them and they will not take it off.

So my question is to you once I clear the doc bill and Norfolk do think I will qualify for an American Express? I forgot to mention I have 12 things in my name in good standing:

School loan 6000

Dte

2 Overdraft protections from the credit union

2 Visa from the credit union

Jared card

Macy

Tribute

Capital one

Walmart card

All paid in full but my oldest account is the tribute card (2 years old) everything else only 1 year

[Anonymous]

First, Congrats on cleaning up your Credit!  Thats Step 1.

Quite frankly, I don't think American Express should be Step 2.

Based on the information you provided, I don't see you qualifying for American Express at this time.  I'd be curious as to the Age of your accounts, CLs, UTIL, INQs.  That might add some perspective to your chances of approval.

Message Edited by illtakecreditforthat on 08-28-2009 04:13 PM

[Anonymous]

I agree with previous post....don't try AMEX at this time.

[fused]

I agree with the others.

[creditwherecreditisdue]

You are on the right track and doing a great job! Congratulations.

I don't think AMEX would be the right next move for you. You'll be happier with the results if you wait a while. Approval by AMEX is only part of the issue. If you wait until things come up a little more for you you won't have to always be looking over your shoulder when you make a move to see if Papa AMEX is good with it!

[Uncle_Money]

Agreed. Your scores aren't high enough at this time to get an Amex approval. Keep paying down that debt, though!

[CreditDrama85]

i think you should try Chase or Bank of America secured card first. keep that for a year and then try to get an Amex. your scores are good but Amex will most likely do a manual review.

[voidman]

I have Fico scores are around 720ish, I have no baddies, 2 year history.

Now except for the 25% util (due to macbook and parents visitor's insurance purchase that I am revoling on a 0% card) Still I don't think myself qualifed for American Express. 

[DI]

If you still have any type of collections remaining AMEX won't approve you.

I applied July 9th and got decline when I had a 5 year 120 days late.  No collections.  That was my only adverse account.  I had no CC balances.

When I got the adverse account deleted, I reapplied Aug.7th.  I was denied again due to AMEX Risk score.

This time I didnt accept the decline because my credit is pristine.  I told the CSR I have high FICO.  She ask me if I wanted to have my credit report reviewed.  Two days later I got approve for $2000. 0% teaser rate for 6 months, and interest around 14%.

You will have a better chance  of being recon if you have no adverse accounts if they decline you.

[ladyvg270]

Hi!

What I have on my credit report now is

This is the only thing I owe (Doc bill $205)

Credit one (Paid close $893)  collection in 2004

Swiss Colony (Paid closed $72.00) collection in 2004

Doctor bill Judgement filed 7/2009 I paid it in the same month 7/2009 (now its reporting on my credit report as paid civil claim.

I have not checked my credit score yet I am waiting until the begining of Oct 2009

Do the credit reporting people count the inquires for the year your in, or the last two years or what?

Also, would the stuff on my credit report be considered as collections and derogatory accounts?