Likelihood of AmEx Platinum (stats included) [Update: Approved]

[SoCalTransplant]

That was a 3X CLI (so it was $1300) that I used just using the request CLI button when logged into the account.   I've had that account since ~2004 and the limit got chopped back in 2007/8ish when there were a lot of sweeping credit reform and limits were getting lowered.   Didn't realize until recently that I should've have been taking advantage of the SPs from AmEx, 3X and other CLIs over the last few years.    

[Creditaddict]

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@SoCalTransplant wrote:

That was a 3X CLI (so it was $1300) that I used just using the request CLI button when logged into the account.   I've had that account since ~2004 and the limit got chopped back in 2007/8ish when there were a lot of sweeping credit reform and limits were getting lowered.   Didn't realize until recently that I should've have been taking advantage of the SPs from AmEx, 3X and other CLIs over the last few years.    

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I know all to well about those "Chopped CL's"!! LOL

Good to see though that you can work with them to get back to a decent CL!

I saw the personal and business cards that we had back then go from $25k to $500 before I could blink!

[scenery_guy]

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@SoCalTransplant wrote:

I've been a sideliner here on the forums and used lots of the tips and tricks to boost my score lately with a few financial goals coming up (home purchase, travel, etc).   I'm looking at the AmEx Platinum card mostly for the travel benefits this year (not traveling for work anymore, so have to pay for those lounges!) but also for a few of the other perks.   What is the likelihood of an approval with my status below?  (I don't really want to apply unless there's a strong chance for approval as I'd like to not risk the hit.)    

Current SitRep:

AmEx Business Platinum: $3900 limit / $0 balance (just increased in late Feb)

Chase Visa: $2200 limit / always below a $110 balance when closing date to maintain >5% CLU

BoA Visa: $4500 limit / $0 balance 

Local Bank Visa: $1500 limit / $0 balance (13 years active, so keeping it open despite low limit and $19 AF)

EX Score: 702.  Some neg 30 days from 2008 that I'm trying to get taken off with a goodwill letter

Just paid off my auto loan last month 2 years ahead of payoff on 4 yr loan. I have a signifiant # of student loans, however, my DTI is 30.68%.  

Any thoughts on the chances or other things I might be able to do to help.    Thanks for all the input and guidance!

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SitRep. Awesome. Just plain awesome. Good luck on the card. 

[SoCalTransplant]

Just closing the loop here:  Called today and decided on the Mercedes co-branded AmEx Platinum due to the 50k MR points bonus they're offering right now.  They indicated that they couldn't match the MR rewards on the regular AmEx PLT, so decided it was worth the additional $25 AF to go for double the MR....at least for now. =)   Was assured by the rep that all other benefits were identical (except for the additional Mercedes-Benz add ons).   Was approved in seconds over the phone.  Card will be here in a coulpe of days.  

Thanks again everyone for the votes of confidence.  

[ryanbush]

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@Creditaddict wrote:

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@SoCalTransplant wrote:

That was a 3X CLI (so it was $1300) that I used just using the request CLI button when logged into the account.   I've had that account since ~2004 and the limit got chopped back in 2007/8ish when there were a lot of sweeping credit reform and limits were getting lowered.   Didn't realize until recently that I should've have been taking advantage of the SPs from AmEx, 3X and other CLIs over the last few years.    

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I know all to well about those "Chopped CL's"!! LOL

Good to see though that you can work with them to get back to a decent CL!

I saw the personal and business cards that we had back then go from $25k to $500 before I could blink!

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500K! that's a crazy CL...  

[2011beginnings]

Congrats on the approval.

Are you going to get the CSP?

[SoCalTransplant]

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@2011beginnings wrote:
Congrats on the approval.

Are you going to get the CSP?

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Haven't decided yet, but not sure I want another HP right now.   Though the AmEx rep pulled the info from my SimplyCash business so they may not have done a HP...I've got scorewatch right now so I'll see if it triggers an alert in a few days.    

[webhopper]

You will most likely be approved. Platinum is a card with amazing travel benefits...

[webhopper]

@ryanbush

I am pretty sure he meant $500 not $500k

[indiolatino61]

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@thom02099 wrote:

Agree with the others, strong probability of approval.  Charge cards, if I recall right, all have the same underwriting criteria, regardless if Platinum or Green. 

If you have a concern about it, since you're already an AMEX cardholder, you could just call their customer service and ask the same question, the chances of approval based on your current history with them.  That way too, they could assure you if a SP or HP. 

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Can they also tell you your chances of getting a revolver based on your experience with a charge card?