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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
AMEX is real picky with certain things, I say wait until january since the bk will drop, it's right around the corner.
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.
@jsickz32 wrote:
Did you have any amex accts on your bk?
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
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.
@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?
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.
@CreditScholar wrote:
@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?
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
@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.
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