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I would really like to get in the Amex door but I'm not sure how it will show in my scores if I app for the Amex Green charge card.
I currently have a USAA secured with 250 cl, a B of A Secured (99/500), creditone at 1000, creditone at 750, capital one at 1750, merric bank at 1100, and Overstock at 2500, all with a combined util of about 5%.
I have all three cra scores in the 650 range.
In the last two weeks I did the sct for the Overstock and the B of A Secured was opened, with a HP and its the only HP showing now..
So if I understand it correctly, the Amex Green would be a HP and if approved, it would show as a TL but no contribution to avail credit. I have received prescreen offers for Amex green and when I check at the amex offers page, it shows the green, the gold, and the gold preferred. I dont use the rewards that much so even though the first year fees are 0, next year would be larger with either of the gold cards. My B of A Secured gives me the rewards and I want to get that one unsecured quickly so I will be concentrating on that one, but I could use the Amex for small amounts each month to show usage.
I use B of A for checking / savings and Chase for my mortgage, amd no car payments, but perhaps in 6 months.
My long term goal is to get an Amex credit card, a Chase card, and a Citi card, keep my B of A and Cap1, and to close my earlier sub prime cards.
I am rebuilding my credit from 2008 when it took big hits and some COs and baddies have already fallen off and the rest will be gone by Feb 2016.
Thanks for the advice.
@Anonymous wrote:I would really like to get in the Amex door but I'm not sure how it will show in my scores if I app for the Amex Green charge card.
I currently have a USAA secured with 250 cl, a B of A Secured (99/500), creditone at 1000, creditone at 750, capital one at 1750, merric bank at 1100, and Overstock at 2500, all with a combined util of about 5%.
I have all three cra scores in the 650 range.
In the last two weeks I did the sct for the Overstock and the B of A Secured was opened, with a HP and its the only HP showing now..
So if I understand it correctly, the Amex Green would be a HP and if approved, it would show as a TL but no contribution to avail credit. I have received prescreen offers for Amex green and when I check at the amex offers page, it shows the green, the gold, and the gold preferred. I dont use the rewards that much so even though the first year fees are 0, next year would be larger with either of the gold cards. My B of A Secured gives me the rewards and I want to get that one unsecured quickly so I will be concentrating on that one, but I could use the Amex for small amounts each month to show usage.
I use B of A for checking / savings and Chase for my mortgage, amd no car payments, but perhaps in 6 months.
My long term goal is to get an Amex credit card, a Chase card, and a Citi card, keep my B of A and Cap1, and to close my earlier sub prime cards.
I am rebuilding my credit from 2008 when it took big hits and some COs and baddies have already fallen off and the rest will be gone by Feb 2016.
Thanks for the advice.
Others will chime in with whether AMEX will approve you before 2/16, but my suggestion for this is to get the PRG and downgrade to the green after a year. You lose nothing by doing so, only gain a signup bonus and increased rewards.
Actually, I have pretty good average age of accounts, like 9 years and 2 months, before the Overstock and B of A were opened. I had high CLs in 2008 but had COs and lates. Actually Amex was one of them but I settled with them 3 years ago. I did not have the Everyday Card in the prescreen offers page on their site and I was going for the conservative app. I woud rather have the Everday Card.
Does anyone know what happens to the AAoA when a CO rolls off your CRA? I think I read that the CLs and dates still stay for 10 years but that does that still hold true when a CO rolls off after the 7 year period?
Thanks.