cancel
Showing results for 
Search instead for 
Did you mean: 

I want an SPG so badly!

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
Message 1 of 11
10 REPLIES
Frequent Contributor

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.

Message 2 of 11
Established Contributor

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.

Message 3 of 11
Moderator

Re: I want an SPG so badly!

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 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 4 of 11
Regular Contributor

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 ($15k), AMEX BCE ($20k), Amex Platinum, Arrival ($11.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($6.5k)

2/16 - 864 Fico EQ (CITI); 818 Fico Ex (AMEX)
Message 5 of 11
Established Contributor

Re: I want an SPG so badly!

I thought we were into encouraging gardening around here... Smiley Tongue

Message 6 of 11
Regular Contributor

Re: I want an SPG so badly!

Okay ... so excuse my ignorance here but 'what's SPG'??  Smiley Indifferent

________________________________________________________________________________________________
I’ve found that I can "charge" WHATEVER I want…. Just not all at THE SAME TIME!*Last CC App 07/2010*
Message 7 of 11

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
Message 8 of 11
Senior Contributor

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
Message 9 of 11
Regular Contributor

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) Smiley LOL

________________________________________________________________________________________________
I’ve found that I can "charge" WHATEVER I want…. Just not all at THE SAME TIME!*Last CC App 07/2010*
Message 10 of 11