@Anonymous wrote:
@distantarray wrote:
@Anonymous wrote:
@distantarray wrote:
@Anonymous wrote:
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
I think this idea that Amex won't approve you with a First Premier showing on your reports is overblown. I was approved for an Amex Green with two -- count 'em, two! -- First Premier cards showing on my reports. I'm sure that Amex looks at a lot of factors when deciding upon approvals, and having a FP is not automatic grounds for denial, if indeed it factors into their decision making process at all.
I never got approved with good scores with first premier on the reports, They stated First Premier as a reason -_-;
They specifically stated First Premier? How did they inform you of that; surely they didn't state First Premier by name directly on the denial letter, did they?
Well, if that's the case, then it still is very much a YMMV sort of thing. As I stated, I was approved with two FP cards on my reports. (Two FP cards -- what was I thinking!!! I've learned a lot since then, LOL!)
They quoted "Sub prime lenders" but besides HSBC and Achieva (local CU) reporting they were the only ones and we know those are ok =p
Interesting. I'd really love to know exactly how they make their decisions -- would love to look at and analyze the algorithm! -- as it really seems like a crapshoot at times. I was approved with nothing BUT subprime lenders on my reports: Cap1, First Premier, Orchard; closed accounts with First Premier, Emerge, Applied Bank and SST. That and Kay, JC Penney and Dillards. Subprime and store cards as far as the eye could see... and I was approved for a Green. Go figure.
Anyway, I would urge the OP to try even with the FP on the reports. There must be a wide variety of factors that Amex takes into account and I wouldn't worry about which lenders you're showing. It's worth a shot to get in by the end of the year and establish the member date.
I believe the sub prime hit has less effect if you've had the cards established over a year and in good standing. You have to start somewhere.
i had them for 5 years at the time, but probably went to an underwritter it could be a ymmv situation. Depends who looked at your account etc.
Thanks for the replies. I dont feel that I cant get Amex with !st premier open only that it seems frowned upon. Want to get my utility down before I pull trigger and the 4 new cards reporting at least 6 months. Not sure of actual scores right now but when I get utility to lowest one card 9% less then Ill get fico scores to see where I am at. Keep everybody posted.
Starting Score: 0
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
link please?
would this effect people already backdated or just new backdaters? hmmm
No link but many of these things are talked about in the last six months. prior backdating would most likely not be effected. I was just stating that it seems that there will be more regulation re credit files, if I was a person on the mend or building from thin file Id be at Mach speed. Only time will tell.