Regular Contributor
Posts: 116
Registered: ‎06-26-2011

Approval Odds for AMEX

Below is a brief summarization of my credit report and I was curious as to, if I was to apply for an AMEX, what would my chances be for approval.


AAoA: 5 months (Due to a defaulted CC from 2006 dropping off report, AAoA tanked. Oldest card is 1yr, 5months)

Total Utilization: 26%

Total Credit Limit: $8,100

Total Accounts: 6 (One opened in November 2012, paid on-time 100%, five cards opened February 2014, 100% paid on time) --- Three successfully paid-off installment loans, all which were paid on time (lease-to-own items that reported)

No baddies, no derogs (Has one defaulted credit card from 2006 that should have dropped off since February)

**Not sure if this counts, but one auto-loan, remaining balance $7.1k, paid 100% on time since August 2013

Hard Inquiries: 12 Inquiries (I know, slightly high, but this has to due with my recent app spree from 02/2014, plus a few other random inquiries over the last two years.)


So...any suggestions on my chances for AMEX approval should I apply in four more months as I was advised to try again after six months back in 02/2014 cause I applied for AMEX and was declined due to inquiries and new credit. Does this still resemble sound advice?

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)

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Valued Contributor
Posts: 1,442
Registered: ‎08-30-2012

Re: Approval Odds for AMEX

I'd wait for your AAoA to come up to 1yr at least. Then you should be in great shape. I'd make it a point to drop that util some to before applying as well.

Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $2.1k; NFCU Cash Rewards $22K; AMEX BCE $18k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k; Chase Freedom $4.5k
Goal Score: 700 across the board.
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