Hi all! I am not sure if I will be accepted for this card, although I would love to have it. Here is my credit info.
- 704 Equifax Score
- 74% credit utilization
- Newest account was opened 1 Year, 3 Months ago.
- 0 inquires in the last year.
- Average age of accounts is 5 years.
- 0 missed payments.
- Have been an AMEX card member for 2 1/2 years with a no preset limit that has been approved for as high as $10,000.
I am waiting another 2 weeks until my total debt ($19,541) will decrease by $3,200.
What do you think my chances are if I apply in 2 weeks? The MyFICO Score Simulator says my score will be a 724.
There is no way I will be able to pay off another 35% to bring it down below 30%. Do you think I could still be accepted based on being a member of Amex and no inquires or colelctions on my record?
Yes, when you apply another AMEX card they use most recent SP, which is typically one month late compared to your credit report at the time.