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Mega Contributor
Creditaddict
Posts: 18,873
Registered: ‎10-23-2007

Re: Do I Stand A Chance With AMEX?

I think amex likes low util and high scores more than they care about inq.

and they are pushing the Zync hard core

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Regular Contributor
grigorexxxcore
Posts: 220
Registered: ‎08-03-2010

Re: Do I Stand A Chance With AMEX?

Hm...so then I would stand a pretty good chance? I would LOVE the GOLD but I can take the Zync. I plan on just paying off my balances in full for the next 4 months and hopefully by then, my scores will increase a bit more.

 

How long do these inquiries stay? 

New Contributor
tobey
Posts: 71
Registered: ‎02-24-2010

Re: Do I Stand A Chance With AMEX?

[ Edited ]

Hell, I'd go for it if I were you. You have 21, what's one more going to hurt at this point?

 

But why so many? What cards were you applying for? Were you declined all those times?

 

Edit: Hard inqs stay on your report for 24 months, but will no longer have an impact on your score at 12 months.


Starting Score: 737
Current Score: 770
Goal Score: 800


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Mega Contributor
Creditaddict
Posts: 18,873
Registered: ‎10-23-2007

Re: Do I Stand A Chance With AMEX?

if you rather gold then get that one... charge cards are all in same class when applying I think.

my friend got approved for gold with a 652 score

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Moderator Emeritus
fused
Posts: 16,253
Registered: ‎03-12-2007

Re: Do I Stand A Chance With AMEX?

 


Creditaddict wrote:

 

if you rather gold then get that one... charge cards are all in same class when applying I think.

my friend got approved for gold with a 652 score


The OP posted FAKO scores, so we have no idea what his/her FICOs are.

 

Credit Cards:
Amex BCP 25K ~ Amex Clear 25K ~ Amex Platinum NPSL ~ Chase Freedom Visa 19.3K ~ CITI Dividend World Mastercard 20.3K ~ FIA Fidelity Investments Platinum Plus Visa 40K ~ First Hawaiian Bank Gold Visa 10K
Regular Contributor
grigorexxxcore
Posts: 220
Registered: ‎08-03-2010

Re: Do I Stand A Chance With AMEX?

Haha, I know, it's really tempting as you can see with my 21 inquires! 

 

Before these scores, I was very low, I was in the 610's. During that time, I thought I could try to sneak a card or two into my life without carrying a balance to help raise my score, you know?

 

I was declined 95% of the time. My recent one was a Capital One that I've been trying to get for the past 2 years and they finally gave me one. 

 

So that's why I'm trying to see if I should stick it out this way and pay them off to help establish a better score?

 

The last time I applied for an AMEX was on May 30th of this year, and was declined because I had a low score. So maybe I should wait it out for a bit?

Regular Contributor
grigorexxxcore
Posts: 220
Registered: ‎08-03-2010

Re: Do I Stand A Chance With AMEX?

It may sound weird but I just like the gold one because it looks nicer, haha. I have no experience with their rewards or anything, I've heard they have some sort of reward program, but I a not certain of it.

Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Do I Stand A Chance With AMEX?

If all they pull is EX, then the only thing that matters is how many inqs are on EX.

 

But if they pull one or both of the others, that's a different story.

 

AmEx doesn't use FICO scores or any other available FAKO scores. They have their own internal algorithm, which they use on Experian reports.

 

American Express traditionally pulls Experian, but if they see something that puzzles or worries them, they'll pull TU and/or EQ to see what's up.

 

OP, how many inqs have you had on each report (break it down, please, if you will) within the last six months? How many within the last 12 months? Inqs aren't necessarily fatal with AmEx, but the combo of short history and lotsa inqs might make them nervous.

 

If you've gone kind of nuts within the last 6 months, I'd cool your jets and wait a while. Zync would be a good choice, once you're a bit more marketable.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Do I Stand A Chance With AMEX?

 


grigorexxxcore wrote:

 

It may sound weird but I just like the gold one because it looks nicer, haha. I have no experience with their rewards or anything, I've heard they have some sort of reward program, but I a not certain of it.


 

Not to sound excessively mom-ish here, but it's a good idea to treat credit in a bit of more business-like manner. Anything that you do with credit now will show up for the next 7-10 years (2 years on inqs.)

 

Doing research on various credit products + picking ones that will work for you, as opposed to looking cool, will probably make you a lot happier over the long run.

 

Mild apologies for the scold, and welcome to the forums! This is a good place to think through what you want from personal credit.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
grigorexxxcore
Posts: 220
Registered: ‎08-03-2010

Re: Do I Stand A Chance With AMEX?

Thanks Haulingthescoreup for all that info, I'll break it down for you now :smileyhappy:

 

Equifax:

 

Inquiries in the past 12 months: 19

 

Inquiries in the past 6 months: 6

 

There are inquiries in February, which is exactly 6 months ago, and if you want February included, it is then: 12

 

 

Experian:

 

12 months: 21

 

6 months: 13

 

Also including February. 

 

 

Transunion:

 

12 months: 22

 

6 months: 10

 

 

There you go, that's all of it! Looks scary!


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