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American Express

New Contributor

American Express

Hi everyone. Long time. Hope all is well. Question to myfico experts.

Getting recent Amex invitations with RSVP codes. Been rebuilding for a couple of years.

Currently still in the low 600s high 500s. On credit

I have a couple high balances on my nfcu. Husband in army and stationed overseas. Had to buy some tix home and put on cc. Those should be paid down back to 0 mid June.

What do you guys think. Value all your knowledge. When I started this journey. Never thought a fico score could be so low. Mine was.

Rebuilding takes a while with dedication and diligence. Basically just doing the right thing all the time.

Hubby been getting several invites to apply too. We don't want any pulls on his credit. His is way better than mine. He's up for security clearance in a few months and we just need to be careful and do the right thing.

Would love to have an Amex instead of the prepaid one, But hey. I can wait.

Thanks for any and all information and have a great day.
1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
Message 1 of 12
11 REPLIES
Mega Contributor

Re: American Express


tbc wrote:
Hi everyone. Long time. Hope all is well. Question to myfico experts.

Getting recent Amex invitations with RSVP codes. Been rebuilding for a couple of years.

Currently still in the low 600s high 500s. On credit

I have a couple high balances on my nfcu. Husband in army and stationed overseas. Had to buy some tix home and put on cc. Those should be paid down back to 0 mid June.

What do you guys think. Value all your knowledge. When I started this journey. Never thought a fico score could be so low. Mine was.

Rebuilding takes a while with dedication and diligence. Basically just doing the right thing all the time.

Hubby been getting several invites to apply too. We don't want any pulls on his credit. His is way better than mine. He's up for security clearance in a few months and we just need to be careful and do the right thing.

Would love to have an Amex instead of the prepaid one, But hey. I can wait.

Thanks for any and all information and have a great day.

The preapprovals you receive in the mail are not guaranteed. And your FICO in the low 600s would more than likely be a denial. Do you have recent baddies on your file?




EQ FICO 548 3/3/16
Message 2 of 12
Senior Contributor

Re: American Express

I'd repair, pay down balances, and hold off on apping until having better odds at approval. That being said, Amex uses other factors besides scores so you never really know.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 3 of 12
New Contributor

Re: American Express

Hi thanks

I have been in the garden for approx 1 year. I got navy, cap one and bbrz. Don't need anything else.

No recent baddies

According to simulator when I pay those off my score should significant jump. C'mon June 14th.


Appreciate your input.
1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
Message 4 of 12
Super Contributor

Re: American Express

what kind of baddies do you have on file? unpaid / paid collections? charge-offs?


Anyhow since you said most of the balances will be paid down, wait till they update and you should see a decent jump in your scores.

 

Best of luck!

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 5 of 12
New Contributor

Re: American Express

Just a fp from 6.5 yrs ago
1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
Message 6 of 12
Super Contributor

Re: American Express

what's FP? :/

First Premier? You have a collections from them?

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 7 of 12
Valued Contributor

Re: American Express

I snagged my first amex with a 620, though it was a ZYNC w/ NPSL - amex none-the-less.

 

Get all scores out of the 500's with a bit more gardening and you'll fast track to multiple amex accounts like myself and many others here.

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 8 of 12
Mega Contributor

Re: American Express

I would say garden for 6 more months then go for a charge card, make sure your overall util. is below 10%.




EQ FICO 548 3/3/16
Message 9 of 12
New Contributor

Re: American Express

Yes. They refuse to pay for delete Its from 2006.
1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
Message 10 of 12