03-15-2012 10:59 AM
I applied for the green card last week, and was denied (not instantly). The denial letter states that I am in a credit counseling services progrm. Yes, this was listed on my experian report. A few years back I did use the services but that has ended. I have since cleaned up my report removing his statement/notation from the bureaus. I aslo just received an Optima Card through the regain membership program (actually applied before receiving the card itself). I received this card after a 10K CO (now PIF) on a Blue Sky card. I tried to recon with the executive office, even sending in a clean report showing the removalof the credit counseling notation, but the nice lady called me back and told me that I would have to close the Optima in order to reapply (with no guarantee). Got "cold feet" and told her I'll wait a couple of month then try again.
Amex did not provide my score, so I have been wondering what my experian FICO score really was, since tAmex did not say any other negative about the score of the other baddies( three 90 days late 2+ years ago) on my report. In my quest to find the trust, I finally called the number on the denial letter and the guy with the "indian accent" said "I cannot tell you your score, but, lets say it's over 700". I then asked is it near 70, he said no! I couldn't believe him, so I called again and got a different rep and she immediately told me it ws 718. This is so not cool that the bureau numbers are so far apart from each other, at least in my case.
My questions to all:
1. How can that be true (score over 700)? My EQ is only 665 and my TU is 655, per this site (MYFICO). My Optima have a membeship date of 1988, so that must have helped me with Amex internal scoring system. I understand that you can log in to Amex site (cardmember only) and get EQ Fico score. I also saw a thread foating around that said it's a real EQ Fico score too.
2. I guess I could keep my Optima card and try for a GOLD card in two months. What are my chances?
3. For those of you that wnet the Optima route, approximatley how long after getting your Optima card, were you able to close it and then apply and get approved for another Amex product. What was your EQ Fico score when you got the PC.
03-15-2012 11:17 AM
You have to wait for 12 months and apply for the regular card. I had my optima for 12 months and then applied for platinium and it is approved for me. I did not close my optima account,
03-15-2012 11:50 AM
You need to get rid of that Optima to apply for any Amex card. You make sure your score are above 680 or higher.
I was told that my socre is above 700, so that's not bad at all. I think I will wait a few months instead and get the TU and EQ above the 700 marks too.
03-15-2012 11:59 AM
I believe I have read here that you cannot get any other Amex card while you are in the Optima program (or have that card). That is probably why the rep told you that you would need to cancel the Optima and re-apply for the Amex Gold.
You'll need to make a choice, but as long as you have the Optima card, you won't be able to get any other Amex cards (with the possible exception of the co-branded ones that aren't administered by Amex --- like Barclay's Amex and Dillard's Amex from GE, etc.).
In terms of your score, I believe that Amex has an internal scoring model that they use after your initial app. Since you're in the Optima program, it's likely that they used that instead of a FICO score. Their internal scoring model range goes higher than FICO, which would explain why your score is over 700 according to them, but less on your FICOs.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.