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Frequent Contributor
CreditJunkie917
Posts: 403
Registered: ‎01-08-2013
0

I want an AMEX CHARGE CARD!!!

I really want an AMEX charge card, either green or PRG. It would make sense for me to get one because I currently use my NFCU card to pay my monthly expenses(minus rent) which comes to about $1200/mo. Looking to see if I should pull the trigger or wait it out till the end of the year to apply. Here are my vitals:

 

3 total SL in rehab(5 TLs), rehabbing since January...$8000

HSBC CO(currently disputing b/c acct was fraudulently open in my name)

LVNV(just had removed...tied to HSBC acct)...$1175

First Premier CO....PIF jan 2008...have read impossible to GW to delete

NFCU auto loan...$3700, opened 4/13

Current accts all in good standing, no baddies, missed payments since military star card was opened in Feb 2010

 

Utilization @ 4%. The only issue I think I might run into is that my NFCU card was opened last month, along the auto loan listed above.  I know they pull experian, but no way for sure to truly know what my score is be it that one I have is a FAKO. What are you thoughts on how I should proceed?

 

Amex Plat.(NPSL) Amex PRG(NPSL), Amex BCE($6K), Amex Hilton($1K), NavCheck ($15K), NFCU CR Siggy($16.6K), USAA Amex($7K), USAA World MC($7K), CSP($5K), Chase Marriott($5K), Care Credit($2.5K), Cap1 QS($3.5K), VS($500), Cap1 Secure($200)
Starting Scores(Jan 2013): FICO EQ: 643, TU: 552, EX: 567
Current Scores(October 8, 2014): FICO EQ: 679, TU: 703, EX: 696
In the Garden FOR-EV-ER!!!!! Cards and goals achieved! Let's grow and mature these babies!!!



Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: I want an AMEX CHARGE CARD!!!

If you are just spending 1200 a month, you shouldn't get the charge card. You need to be spending >30k to make the AF for the prg worthwhile, based upon calculations by others.

And very recent new accounts are a bad idea for Amex.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Established Contributor
ibmrad7
Posts: 676
Registered: ‎12-11-2010
0

Re: I want an AMEX CHARGE CARD!!!

I think you have a good shot at either one. Go for it.


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


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Frequent Contributor
CreditJunkie917
Posts: 403
Registered: ‎01-08-2013
0

Re: I want an AMEX CHARGE CARD!!!

Thanks for the replies. @enharu, I've also read threads on here that AMEX will waive all AF for active duty military personnel. If that's the case, getting the card would make more worth it. I would like more fedelity on that. Also, I'm not too much worried about the AF as I am about my utilzation. Understanding that the high balance that is reported doesn't affect UTI makes it more attactive in my eyes. The charge card in general suits my lifestyle. But I understand what your saying.

Amex Plat.(NPSL) Amex PRG(NPSL), Amex BCE($6K), Amex Hilton($1K), NavCheck ($15K), NFCU CR Siggy($16.6K), USAA Amex($7K), USAA World MC($7K), CSP($5K), Chase Marriott($5K), Care Credit($2.5K), Cap1 QS($3.5K), VS($500), Cap1 Secure($200)
Starting Scores(Jan 2013): FICO EQ: 643, TU: 552, EX: 567
Current Scores(October 8, 2014): FICO EQ: 679, TU: 703, EX: 696
In the Garden FOR-EV-ER!!!!! Cards and goals achieved! Let's grow and mature these babies!!!



Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: I want an AMEX CHARGE CARD!!!


CreditJunkie917 wrote:

I really want an AMEX charge card, either green or PRG. It would make sense for me to get one because I currently use my NFCU card to pay my monthly expenses(minus rent) which comes to about $1200/mo. Looking to see if I should pull the trigger or wait it out till the end of the year to apply. Here are my vitals:

 

3 total SL in rehab(5 TLs), rehabbing since January...$8000

HSBC CO(currently disputing b/c acct was fraudulently open in my name)

LVNV(just had removed...tied to HSBC acct)...$1175

First Premier CO....PIF jan 2008...have read impossible to GW to delete

NFCU auto loan...$3700, opened 4/13

Current accts all in good standing, no baddies, missed payments since military star card was opened in Feb 2010

 

Utilization @ 4%. The only issue I think I might run into is that my NFCU card was opened last month, along the auto loan listed above.  I know they pull experian, but no way for sure to truly know what my score is be it that one I have is a FAKO. What are you thoughts on how I should proceed?

 


IMO I do not think they will approve you. I would consider gardening for for at least 6 monthsa and do everything you can to get the fraudulent card removed and CO.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: I want an AMEX CHARGE CARD!!!

[ Edited ]
Ah I see. If you think it's good for you (and it does sound that way), definitely go for it.

As for credit cards utilization, you can still maintain a low utilization as long as you pay and have the payment clear before the statement cuts. And utilization shouldn't really matter until you are about to apply for new cards, so don't pay too much attention to it if you are not seeking new credit.

You might have a chance for the charge cards. Applying with new recent accounts are not recommended usually, but since you are going for a charge card, not a revolver, I think you should be fine.

Edit: missed out on your collections. Those might be a big problem, like what LS said.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Frequent Contributor
CreditJunkie917
Posts: 403
Registered: ‎01-08-2013
0

Re: I want an AMEX CHARGE CARD!!!

That's what I've been battling. It's easy to get caught up in all the successes that people have had on here, and i'm one more example of that. I've taken the necessary steps to work myself out of the hole I created. I know a couple more months wont hurt, but only help. Thanks!

Amex Plat.(NPSL) Amex PRG(NPSL), Amex BCE($6K), Amex Hilton($1K), NavCheck ($15K), NFCU CR Siggy($16.6K), USAA Amex($7K), USAA World MC($7K), CSP($5K), Chase Marriott($5K), Care Credit($2.5K), Cap1 QS($3.5K), VS($500), Cap1 Secure($200)
Starting Scores(Jan 2013): FICO EQ: 643, TU: 552, EX: 567
Current Scores(October 8, 2014): FICO EQ: 679, TU: 703, EX: 696
In the Garden FOR-EV-ER!!!!! Cards and goals achieved! Let's grow and mature these babies!!!



Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: I want an AMEX CHARGE CARD!!!


CreditJunkie917 wrote:

That's what I've been battling. It's easy to get caught up in all the successes that people have had on here, and i'm one more example of that. I've taken the necessary steps to work myself out of the hole I created. I know a couple more months wont hurt, but only help. Thanks!


Take it from someone who jumped the gun with AMEX 3 times before being approved: Don't waste the INQ's! Be smart with them :smileyhappy:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
CreditJunkie917
Posts: 403
Registered: ‎01-08-2013
0

Re: I want an AMEX CHARGE CARD!!!

Sounds like a plan!!

Amex Plat.(NPSL) Amex PRG(NPSL), Amex BCE($6K), Amex Hilton($1K), NavCheck ($15K), NFCU CR Siggy($16.6K), USAA Amex($7K), USAA World MC($7K), CSP($5K), Chase Marriott($5K), Care Credit($2.5K), Cap1 QS($3.5K), VS($500), Cap1 Secure($200)
Starting Scores(Jan 2013): FICO EQ: 643, TU: 552, EX: 567
Current Scores(October 8, 2014): FICO EQ: 679, TU: 703, EX: 696
In the Garden FOR-EV-ER!!!!! Cards and goals achieved! Let's grow and mature these babies!!!



Community Leader
Senior Contributor
myjourney
Posts: 26,656
Registered: ‎02-07-2013
0

Re: I want an AMEX CHARGE CARD!!!

I too think you should wait a few months before applying. Allow your scores to grow just a bit more.

Good luck 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13



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