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Valued Contributor
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Registered: ‎06-16-2012
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Re: Do I have chance with AMEX?


Open123 wrote:

dodgerslv wrote:

toppers555 wrote:

I would have to lean towards a denial.  You have two collections which are pretty recent. Not to mention the two credit card chargeoff's. How does your chexsystem record look?


I am thinking the same. I havent really heard of anyone getting approved for Amex charge card with recent collections. Looks like Amex is sensitive about collections right?


Actually, in my experience, they're much "less" sensitive to collections and derogs than most other issuers, if they have other information on you.  

 

I've known a few who were approved for charge cards with recent COs and derogs.  Of course, they weren't large COs, but relatively small ones that really didn't matter, aside from dragging down a score.

 

With an existing relationship, I've seen many with the occassional derog without ever any AA from Amex.  Case in point, I have a colleague who were declined (for the sign up bonus apps) by Chase, Citi, and Barclays.  But, Amex approved him for the SPG, even with his trouble history because of his 30 years of using and paying his charge card, albeit late frequently.

 

In the end, I think Amex makes "more" exceptions than other lenders.  Can you imagine Ctii making an exception for anyone?  


thats good to know Open and that does give me a little hope. My collections are 1 utility for 51 dollars (i know, i know, WTH right?...long story) and the other is a school tuition of 330 dollars that i didnt pay because of financial hardship back in 2010.  They both got reported in 2011 and got paid right away. On is reporting to both EX and TU and the other only EX. No collections on EQ. My concern is the CC chargeoffs from 2007. One is paid, other not. One for 250 other around 580. I think that may be the killer in not getting approved for charge card.

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
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Re: Do I have chance with AMEX?


dodgerslv wrote:

thats good to know Open and that does give me a little hope. My collections are 1 utility for 51 dollars (i know, i know, WTH right?...long story) and the other is a school tuition of 330 dollars that i didnt pay because of financial hardship back in 2010.  They both got reported in 2011 and got paid right away. On is reporting to both EX and TU and the other only EX. No collections on EQ. My concern is the CC chargeoffs from 2007. One is paid, other not. One for 250 other around 580. I think that may be the killer in not getting approved for charge card.


In my experience, if Amex has a relationship with you or has information on you, the derogs you listed above are examples of inconsequetial ones they care very little about, unless there are other concerns.

 

Large derogs where you could be sued (such as tax liens and judgments) and your accounts levied are the ones they care the most.

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Re: Do I have chance with AMEX?

I would say that your chances of an amex charge card are higher than your chances for a chase credit card... That's just my opinion.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Re: Do I have chance with AMEX?

Also I concur with the statement about amex being less sensitive to other derogs when you have a relationship with them. I got zync and pushed 40k through in 10 months for 2012. I applied for business revolver with amex, approved for 22k line, also got premier rewards gold. I have a paid collection from 3 yrs ago, and also a late payment on my report from 2006

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Re: Do I have chance with AMEX?

My business only grosses 24k per year so I was real surprised by the line they gave me on the business card, but they do like you to use their cards and they will give you high lines if you treat them good

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Re: Do I have chance with AMEX?


webhopper wrote:
Also I concur with the statement about amex being less sensitive to other derogs when you have a relationship with them. I got zync and pushed 40k through in 10 months for 2012. I applied for business revolver with amex, approved for 22k line, also got premier rewards gold. I have a paid collection from 3 yrs ago, and also a late payment on my report from 2006

Right, with Amex, if your relationship is a good one and built over time, I can think of no better issuer.  The exceptions and things they do for these cardmembers will far exceed anything from the other lenders.  

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Re: Do I have chance with AMEX?


Open123 wrote:

dodgerslv wrote:

thats good to know Open and that does give me a little hope. My collections are 1 utility for 51 dollars (i know, i know, WTH right?...long story) and the other is a school tuition of 330 dollars that i didnt pay because of financial hardship back in 2010.  They both got reported in 2011 and got paid right away. On is reporting to both EX and TU and the other only EX. No collections on EQ. My concern is the CC chargeoffs from 2007. One is paid, other not. One for 250 other around 580. I think that may be the killer in not getting approved for charge card.


In my experience, if Amex has a relationship with you or has information on you, the derogs you listed above are examples of inconsequetial ones they care very little about, unless there are other concerns.

 

Large derogs where you could be sued (such as tax liens and judgments) and your accounts levied are the ones they care the most.


thanks alot for the info Open...well i guess i could try for Amex Charge card and if not then will just try again in 6 months...LOL

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
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Re: Do I have chance with AMEX?


webhopper wrote:
I would say that your chances of an amex charge card are higher than your chances for a chase credit card... That's just my opinion.


believe it or not hopper, something in the back of my mind keeps telling me that also.

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
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Re: Do I have chance with AMEX? (update)

well tried it and bit the bullet on the AMEX Charge card and INSTANTLY APPROVED!!!!!!!!!!!!!!!!!!!!! Yay!!!!!!!!!!!!!!!!!!!!!

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
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Re: Do I have chance with AMEX? (update)


dodgerslv wrote:

well tried it and bit the bullet on the AMEX Charge card and INSTANTLY APPROVED!!!!!!!!!!!!!!!!!!!!! Yay!!!!!!!!!!!!!!!!!!!!!


CONGRATS!!!!

 

Which one did you get??




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