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Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
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Long Term Amex Aprroval Strategy.

    i have bad credit now but am very interested in being approved for an Amex card even if it is like 5 years from now. One reason for this is that I had one in 1991 and might be able to get it backdate at some point in the future. Also,,, the whole pirates and booty thing.. Anyway, would getting a Macy's store card and planning to convert it later to amex be a good strategy? Once I had a Macys Amex would that give me an advantage when I appled for a green card? Thanks for the advice/info. I am not sure exactly what my status is with amex. I had a green card and I think it was cancelled because I was chronically late at paying back in the early 1990s.....

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
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Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: Long Term Amex Aprroval Strategy.

Someone correct me if I'm wrong, but I believe that the Macy's Amex is co-branded so I don't think it has the same criteria as the official Amex.  So getting one of those may not help you at all.  But I have read many cases where a person paid whatever was owed to Amex and they have let them back in.  So I think if you get your credit cleaned you do have a chance of getting back with them.  

 

I know that after my BK falls off in Mar 2014 I'm apping for them.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Frequent Contributor
mnavas
Posts: 408
Registered: ‎02-04-2013
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Re: Long Term Amex Aprroval Strategy.

Remember that Macys Amex isn't a "Real Amex" the underwriter is DSNB but works under the Amex network so i don't think a Macys Amex will help you increase your approval odds for an Amex card... but well the store account history will do help you to build a better credit profile Oh btw Macys Amex isn't that easy to get approved (you need at least 700 FiCO)
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Revelate
Posts: 9,549
Registered: ‎12-30-2011
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Re: Long Term Amex Aprroval Strategy.

[ Edited ]

Rhaeny wrote:

Someone correct me if I'm wrong, but I believe that the Macy's Amex is co-branded so I don't think it has the same criteria as the official Amex.  So getting one of those may not help you at all.  But I have read many cases where a person paid whatever was owed to Amex and they have let them back in.  So I think if you get your credit cleaned you do have a chance of getting back with them.  

 

I know that after my BK falls off in Mar 2014 I'm apping for them.


Close, co-branded cards are basically the SPG, HHonors, Delta Skymiles, and the like from Amex: issued by Amex directly in addition to authorizing on the Amex transactional network.  

 

The Macy's card is a store card, that just happens to use Amex for it's transactional network.  You're correct that doesn't help in the slightest for future Amex approvals, completely different set of data than the Amex customer lending arm and their records.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
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Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
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Re: Long Term Amex Aprroval Strategy.

    Thank you for the info. i am certainly not applying for an Amex card anytime soon. I may put out feelers to Amex in the form of calling them at some point. I don't know if it is good to mention that I was a past customer or not. It is what it is tho and I'm sure they have that information somewhere.

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
Established Contributor
eviLution
Posts: 706
Registered: ‎06-11-2012
0

Re: Long Term Amex Aprroval Strategy.

The Macy's Amex is harder to get than Amex charge cards and Walmart Discover is harder to get than a real Discover. LOL

Current Score: DCU EQ 714 - EX+ 746 - WM TU 746
Goal Score: 750+

DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 6000 - Chase Freedom: 5000
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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Long Term Amex Aprroval Strategy.


dddewdrop wrote:

    i have bad credit now but am very interested in being approved for an Amex card even if it is like 5 years from now. One reason for this is that I had one in 1991 and might be able to get it backdate at some point in the future. Also,,, the whole pirates and booty thing.. Anyway, would getting a Macy's store card and planning to convert it later to amex be a good strategy? Once I had a Macys Amex would that give me an advantage when I appled for a green card? Thanks for the advice/info. I am not sure exactly what my status is with amex. I had a green card and I think it was cancelled because I was chronically late at paying back in the early 1990s.....


LMAO!!!!! :smileyvery-happy:

 

 




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