Reply
Established Contributor
CruzImperial
Posts: 869
Registered: ‎07-04-2012
0

Re: How much weight does Amex put on Income

Reading these posts, sometimes I wish I had $100,000+ to burn xD

Nice approval, Amex is generous and that 8k will rise to the sky in 1 year. Grats!!
Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Regular Contributor
ramblin_wreck08
Posts: 181
Registered: ‎08-09-2012
0

Re: How much weight does Amex put on Income

I feel like Amex looks at a person's entire profile instead of just at a credit score/history. If you don't have much history, big banks look at it as a risk. Amex looks at it as being responsible and not needing much debt, particularly if it's paired with a high income. To them, you aren't a risk when you have a high income and little to no debt. Plus this is an ideal combination for putting a high $ amount through the card. They sure know what they're doing.



What's in my wallet:



Left to right:
NPSL ($10k approved)
$5k (EMV - Chip & PIN)
$7k (Visa Sig + EMV)
$7.5k (WEMC)

Transunion FICO: 709 (8/13/12) -> 740 (9/24/12)
Credit Karma: 772 (11/24/13)
Credit Sesame: 755 (11/5/13)
Established Contributor
ibmrad7
Posts: 694
Registered: ‎12-11-2010
0

Re: How much weight does Amex put on Income

I think income and prior history with AMEX matters a lot. I was approved to Platinum last week with 91% utilization on reports... I have been running 80-90% utilization from last 8-9 months.


Starting Score: 583
Current Score: 692
Goal Score: 750+


Take the FICO Fitness Challenge
Senior Contributor
Open123
Posts: 4,220
Registered: ‎02-23-2011
0

Re: How much weight does Amex put on Income

Without a history with them, not so much.  With a history, the "income" portion becomes increasingly important when levels of spending increase. 

 

I speculate that once spending hits north of $15K per month, income and type of spending takes on more and more importance.  For CLs and montly spends more than $25K, I'd imagine financial documents will be requested in the form of a 4056T, which then would make "income and assets" the MOST important.

Member
CreditSnob
Posts: 15
Registered: ‎08-13-2012
0

Re: How much weight does Amex put on Income


Open123 wrote:

Without a history with them, not so much.  With a history, the "income" portion becomes increasingly important when levels of spending increase. 

 

I speculate that once spending hits north of $15K per month, income and type of spending takes on more and more importance.  For CLs and montly spends more than $25K, I'd imagine financial documents will be requested in the form of a 4056T, which then would make "income and assets" the MOST important.


Does being an AU on an AMEX card count as personal history with them?

Senior Contributor
Open123
Posts: 4,220
Registered: ‎02-23-2011
0

Re: How much weight does Amex put on Income


CreditSnob wrote:

Open123 wrote:

Without a history with them, not so much.  With a history, the "income" portion becomes increasingly important when levels of spending increase. 

 

I speculate that once spending hits north of $15K per month, income and type of spending takes on more and more importance.  For CLs and montly spends more than $25K, I'd imagine financial documents will be requested in the form of a 4056T, which then would make "income and assets" the MOST important.


Does being an AU on an AMEX card count as personal history with them?


Yes, but I'm sure to what extent.  I'd imagine it'd be on a case by case basis, but Amex certainly tracks AUs.  


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}