Credit Cards

[hotpoint]

Hello,

I have a question and seeing any suggestions.  Should I apply for American Express.  I think I am interested in the Starwood, and/or the Delta.  Here is my situation, EX is clean, no inquires, no BK, no CO completely clean - AAOA about 4.9 years, history close to 9 yrs.  Utilizations high 30 to low 40%.  I use USAA for monitoring system and my Plus score is 740.

EQ is 687 and TU is 712 (FICO) . . . any suggestions is appreciated.  By the way each report is clean of inquiries none for the last two years, and no new credit for the last four years.  I have a BK reported on EQ and TU, but will drop by 10.13.  I have researched this company and I completely understand the power of superior service, and American Express clearly set the pace . . . 

-Thanks,

HotPoint

Current scores above

[jsickz32]

Did you have any amex accts on your bk?

[angelnyc]

AMEX is real picky with certain things, I say wait until january since the bk will drop, it's right around the corner.

[DeadSpider]

I was approved last month with BK still reporting from 2004 and Amex was included in my BK Green card with under $700 CO.

My fico from Amex was 742.

[hotpoint]

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jsickz32 wrote:
Did you have any amex accts on your bk?

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No, I did not have Amex on my BK.  I am aware of the negative impact that the BK has.  As I mentioned, my EX report is completely clean of any negative accts. i.e. BK, CO lates, etc.  I have read that Amex likes to pull EX, which is why I posted the comments.

Thanks,

HotPoint

[Revelate]

Delta traditionally is easier than SPG which is one of their elite revolvers apparently.

If you can reduce your utilization beforehand I'd say you might have a shot at the SPG; however, the Delta Skymiles card is much easier to obtain, and if you're just looking to establish a relationship that's the way to go if you're dead set on a revolver I think.  Personally with a BK showing I think I'd go the charge card route now, and then whatever revolver I wanted long term in 1/14.

Either way, I'd make myself look as pretty as possible by paying down the revolving utilization prior to applying.

[CreditScholar]

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Revelate wrote:

Delta traditionally is easier than SPG which is one of their elite revolvers apparently.

If you can reduce your utilization beforehand I'd say you might have a shot at the SPG; however, the Delta Skymiles card is much easier to obtain, and if you're just looking to establish a relationship that's the way to go if you're dead set on a revolver I think.  Personally with a BK showing I think I'd go the charge card route now, and then whatever revolver I wanted long term in 1/14.

Either way, I'd make myself look as pretty as possible by paying down the revolving utilization prior to applying.

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Speaking of easy vs. elite revolvers, how would you rank their revolvers from easiest to most difficult to be approved for?

[Creditaddict]

I would apply for Charge Card and if approved go back in and try for the revolver you want... 1 INQ - probably pretty good chance.

Also if you are at 30-40% and can't pay it off why not open new account and BT what you have now... not sure your limits but with no inq or new accounts in over 2 years, you are probably in a pretty good place to get a few new bigger cards and get that util overall down while you work on the individual util.

[Revelate]

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CreditScholar wrote:

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Revelate wrote:

Delta traditionally is easier than SPG which is one of their elite revolvers apparently.

If you can reduce your utilization beforehand I'd say you might have a shot at the SPG; however, the Delta Skymiles card is much easier to obtain, and if you're just looking to establish a relationship that's the way to go if you're dead set on a revolver I think.  Personally with a BK showing I think I'd go the charge card route now, and then whatever revolver I wanted long term in 1/14.

Either way, I'd make myself look as pretty as possible by paying down the revolving utilization prior to applying.

---

Speaking of easy vs. elite revolvers, how would you rank their revolvers from easiest to most difficult to be approved for?

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I don't have near enough information to try to rank all of them myself, I typically just go to the various credit pulls databases and try to datamine some approval ranges.  I do know that Amex sent me a pre-approval once upon a time for a Delta Skymiles during the downturn and I've never been FICO pretty regardless.  I don't think the underwriting criteria for that card has changed much in the past two years.

However for giggles, a pure swag (with disclaimers, income matters after all):

- Delta

- Costco?

- Hilton?

- Clear?

- SPG/BCE/BCP

[hotpoint]

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Creditaddict wrote:

I would apply for Charge Card and if approved go back in and try for the revolver you want... 1 INQ - probably pretty good chance.

Also if you are at 30-40% and can't pay it off why not open new account and BT what you have now... not sure your limits but with no inq or new accounts in over 2 years, you are probably in a pretty good place to get a few new bigger cards and get that util overall down while you work on the individual util.

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Thanks for the powerful suggestion - I called Amex on yesterday just to get a feel.  Although, I never explained my credit profile to the CSR, she asked if I frequently fly and made a suggestion for the Delta card.  I agree about the utilization, but to answer your question - I have USAA CL 5k, and my Freedom is 4200 CL.  I had thought about obtaining a CC with a higher limit . . . maybe the NCFU, and Amex later.

Thanks again for the comments - great suggestions . . .

-HotPoint