Reply
Member
Posts: 12
Registered: ‎12-03-2012
0

I want an SPG so badly!

After a pitiful attempt at gardening I'm thinking I want to give up because I want an SPG sooo badly! I recently did a little app spree on 12/6/2012 and was shot down for the BCE and the Chase Freedom. (All I got was the super basic Citi Thankyou card)

 

I realize now that my util was WAY too high at that time, and I've significantly paid down my balances. As of today, my util is at around 17%. I am an AMEX member, so I wouldnt get a HP.

 

Do you feel its worth applying? Or waiting until I get the util < 10%? Also.. Amex is reporting my Experian as 693.

 

Any insight would help!

Starting Score: 8/2009 - 542
Current Score: 1/2013 - TU 702 / EQ 692/ EX 692
Goal Score: All above 700
Wallet: Discover IT - $8,800 | Amex PRG - NPSL | Capital One Platinum Mastercard - $5,000 | Capital One Cash Rewards Mastercard - $2,000 | Citi Thank You Preferred Visa - $3,000 | USAirways Mastercard - $5,000
Frequent Contributor
Posts: 376
Registered: ‎05-23-2012
0

Re: I want an SPG so badly!

I think you'd have a better shot at it if your score was over 700, but what the heck, you can go ahead and apply now and if you get declined, you only have to wait 30 days to apply again.  Like you said its only a SP.

Established Contributor
Posts: 504
Registered: ‎08-28-2012
0

Re: I want an SPG so badly!

Sure, it's just a soft pull, but if you're denied, you have to wait another 30 days.  And, while a new application may not show on yoru credit report, I have a feeling that Amex keeps an internal record of member applications and includes them in its internal scoring model.

 

I suggest waiting until the utilization is under 10% before applying - maybe 3% or so reporting on one card.  That'll give you a small bump in your score and increase your chances of success.

Moderator Emeritus
Posts: 10,898
Registered: ‎12-30-2011
0

Re: I want an SPG so badly!

[ Edited ]

I'd take the shot now personally; also Amex is very much likely to be using a different algorithm than the classic '04 or '98 found here.

 

Saw an interesting bullet point the other day on another forum of a PSECU score at 660ish but an Amex EX approval score north of 700; poster stated that all his negatives were installment-loan related and suggested it was likely a bankcard-enhanced score as a result.

 

Still waiting for my own approval score from Amex for my own personal analysis.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)


Take the myFICO Fitness Challenge
Regular Contributor
Posts: 202
Registered: ‎07-27-2012
0

Re: I want an SPG so badly!

Go for it. If you want it and it's a softpull for a decline, why wait? If you don't get it, they'll let you know why.

Current Cards: AMEX Everyday ($5k), AMEX BCE ($15.2k), Arrival ($7.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($5k)

1/15 - 792 Fico EX (AMEX) - In garden indefinitely.
Established Contributor
Posts: 504
Registered: ‎08-28-2012
0

Re: I want an SPG so badly!

I thought we were into encouraging gardening around here... :smileytongue:

Regular Contributor
Posts: 177
Registered: ‎06-03-2009
0

Re: I want an SPG so badly!

Okay ... so excuse my ignorance here but 'what's SPG'??  :smileyindifferent:

________________________________________________________________________________________________
I’ve found that I can "charge" WHATEVER I want…. Just not all at THE SAME TIME!*Last CC App 07/2010*
Member
Posts: 12
Registered: ‎12-03-2012
0

Re: I want an SPG so badly!

American Express - Starwood Preferred Guest card

Starting Score: 8/2009 - 542
Current Score: 1/2013 - TU 702 / EQ 692/ EX 692
Goal Score: All above 700
Wallet: Discover IT - $8,800 | Amex PRG - NPSL | Capital One Platinum Mastercard - $5,000 | Capital One Cash Rewards Mastercard - $2,000 | Citi Thank You Preferred Visa - $3,000 | USAirways Mastercard - $5,000
Senior Contributor
Posts: 3,065
Registered: ‎11-02-2009
0

Re: I want an SPG so badly!

One reason to wait would be to see if they bring back 30K sign up bonus.

Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Regular Contributor
Posts: 177
Registered: ‎06-03-2009
0

Re: I want an SPG so badly!


constantgardener wrote:

American Express - Starwood Preferred Guest card


Cool - Learned something new today I didn't know about  (maybe because I'm no where NEAR being able to apply for this type of card) :smileylol:

________________________________________________________________________________________________
I’ve found that I can "charge" WHATEVER I want…. Just not all at THE SAME TIME!*Last CC App 07/2010*
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.