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Hi Everyone,
I have a question regarding charge cards (specifically the amex plum card). I've just recently started building my credit. Got a $2000 secured credit card a few months ago, and my credit score is 727 (Experian at the moment). When should I apply for the charge card, and how hard are they to get approved for? I was thinking of getting another secured credit card with a higher limit?
Thanks in advance.
Where are you getting your score from? Unless you've app'd for something recently that pulls EX or are a member of PSECU, the EX score you're referring to is considered a FAKO. Your real score could be much different.
Are you building, or rebuilding? If you're building, Citibank is known to take chances on those with little to no credit (but they're nearly impossible to get if you have negatives on your CR). If you're wanting an Amex, definitely go for Zync or Green, but your limited history definitely will hurt your chances. Do you know anyone with an Amex with great payment history that can add you as an authorized user?
Got the score from Experian's site. A FAKO? How do I find my real score?
I'm fresh....building my credit, started a few months ago. Been in business for around 1.5 years though.
I have no problem with the Plum Card not reporting. Working with small profit margins, and this card will definitely help. I'll have two other cards to keep my score up.
Unfortunately, no, I do not know anyone with an Amex card.
My game plan is to get another tradeline, then later on apply for the Plum card, and hopefully I'll get it.
@real_madrid09 wrote:Got the score from Experian's site. A FAKO? How do I find my real score?
I'm fresh....building my credit, started a few months ago. Been in business for around 1.5 years though.
I have no problem with the Plum Card not reporting. Working with small profit margins, and this card will definitely help. I'll have two other cards to keep my score up.
Unfortunately, no, I do not know anyone with an Amex card.
My game plan is to get another tradeline (secured credit card with $x,000 limit, or un-secured card? Which is better for buiding, or does it matter?) Then in about 6 months I'll bite the bullet, and go and apply for the Plum. If denied, then I'll try the Zync or Green, and I'll start building my relationship with Amex. If I get approved with one of thoes, every 4-6 months I'll apply for the Plum.
This is called a "Plus" score and is not even used by lenders. No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
How do I see the non-fako score?
For EX, the only way to get your score is app for Amex (don't accept your stuff electornically or you won't get your score) or another creditor that pulls EX or be a member of PSECU (only open to PA residents). Those are the only ways to get your true EX score right now.
Equifax and Transunion (EQ and TU) can be bought here. The EQ score is the most accurate. The TU score is based on an older model (TU98). Most lenders now use TU04, but you can't purchase that one from here. Several credit cards and banks also supply the score monthly, either as a perk or on a monthly charge basis. I'm a member of M&T Bank and they provide me my EQ score monthly for $2.99.
@real_madrid09 wrote:How do I see the non-fako score?
As I said in my last post "Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only".
Those are the only 2 ways at this time that I know of to see an EX FICO score.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".