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Highest UTIL% amex approval?

Valued Member

Highest UTIL% amex approval?

Anyone been approved for an AMEX charge card with a UTIL% over 70%?

 

Just curious to see if this is possible...

 

Currently at 73% because of high balances on my parent's account which i am an AU on, and im just drooling over the zync...

My credit score is 701 other wise.... just that darn utilization that makes me nervous!



Message 1 of 12
11 REPLIES
Moderator Emeritus

Re: Highest UTIL% amex approval?


jchristo wrote:

Anyone been approved for an AMEX charge card with a UTIL% over 70%?

 

Just curious to see if this is possible...

 

Currently at 73% because of high balances on my parent's account which i am an AU on, and im just drooling over the zync...

My credit score is 701 other wise.... just that darn utilization that makes me nervous!




You can always have yourself removed as an AU and if that doesn't make any difference in your score then be put back on as an AU.

 

After I wrote that I thought about how Amex seems to be a different creature than other CCC's and their handling of AU's might not be as easy as other lenders. Let's see what others who are familiar with the idiosyncrasies of Amex think about this.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

 

 

 

Message 2 of 12
Valued Member

Re: Highest UTIL% amex approval?

Yeah it is kind of like a catch22, my parents perfect payment history is helping my score but high balances hurting me.

Message 3 of 12
Valued Contributor

Re: Highest UTIL% amex approval?

The high balances are hurting way more than the account age is helping, most likely.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Message 4 of 12
Valued Member

Re: Highest UTIL% amex approval?

Just opened up a credit karma account today and found that those credit cards that I am an AU on dont have limits reported. And I went back to my TU report that i pulled a few months ago and saw it only has a high balance, not a credit limit but still shows a credit utilization above 90%. On my CK account it states my utilization is actually zero. Super confused now.....


Would amex see this as a high util? or see it like my CK account?

 


Also if anyone could post if they had been approved for an AMEX with high util. I saw someone posted today that they had been approved with UTIL over 60%

Message 5 of 12
Valued Contributor

Re: Highest UTIL% amex approval?

It depends on what type of account it is.  I believe if it's a charge card that it's not used in calculation of utilization (could be wrong), but if it's a "signature card," a revolving account with no reported limit, then I believe "high balance" is used as your credit limit in the calculation.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 6 of 12
Regular Contributor

Re: Highest UTIL% amex approval?

When I applied for a Zync, I was at 69% and they still gave me approval.

 

After I set up the online stuff, I checked thier "Would you be approved" link for $15000 - came back approved right away.

 

I think give it a try.

 

Ray

Current Goals:

830 FICO / ** GARDEN ** / Pay off one remaing card.

** Every Card Has a Job and Every Card Does Its Job **
Message 7 of 12
Regular Contributor

Re: Highest UTIL% amex approval?

As we know that Amex has their own proprietary scoring system, they weigh things differently than say, FICO.

I think their scoring model weighs income and employment history higher than other models.

 

My utlization was over 70% in late January when I applied for a charge card and was approved for a PR Gold.

But we have a relatively high household income because both me and DW are working.

 

(And I've since cut the Util to 45% and am on track towards <10% by year end. Smiley Wink  )

Message 8 of 12
Senior Contributor

Re: Highest UTIL% amex approval?

 


JRomulus wrote:

As we know that Amex has their own proprietary scoring system, they weigh things differently than say, FICO.

I think their scoring model weighs income and employment history higher than other models.

 

My utlization was over 70% in late January when I applied for a charge card and was approved for a PR Gold.

But we have a relatively high household income because both me and DW are working.

 

(And I've since cut the Util to 45% and am on track towards <10% by year end. Smiley Wink  )


 

+1

(v. nice work on the UTI nose dive, my decreased UTI is still too much a mechanism of new TLs from the past year Smiley Sad)

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 9 of 12
Regular Contributor

Re: Highest UTIL% amex approval?

When I applied for my green, I had 80% on my only card with CapOne and two years of clean history. I was approved for Green and other cards. I am now at 5%.
===========
TU: 648 05/14/11| EQ: 691 05/14/11| EX: ??? | NO BADDIES!
What's in my wallet?: AMEX Green, BoA Cash Rewards Platinum Plus CL $2000, CapOne Platinum CL $1500, CFE Platinum Cash CL $1500, Chase Amazon CL $1000, Kay Jewelers CL $1000
Message 10 of 12