Past 6 months last AMEX-I so want to app!!

[Duncanrr]

I need help staying course. Im over 6 months since apping for AMEX. My score last March was a lowly 542. I expect my EX to be between 690-710. (it's my best credit report as it still has two old cc accounts reporting perfect history). My two cc's are only 4 months old and I wanted to wait to Nov. I have 2 inq on report and still have 4 bad accounts but my other factors are excellent. I know I need to wait but would an inquiry really hurt me that much? Uggg. Help my app demon!

[jamesdwi]

If you want the Zync you should be good in a couple months, doing it now may be a gamble since they like 6 months of experience but you never know. If you want a revolver they want 2 cards for a year. They also have been known to do pulls on two different reports especially if you are new to AMEX. 

[Duncanrr]

I want Zync and if instant then Amex gold delta. Would Amex consider my two old closed cc accounts when they calculate my cc AAoA? If it were not for fact that I may have to get LOC for home repairs, I would stay the course and wait till Nov to app. I've waited 6 months, I'm trying to wait 2 more!

[bichonmom]

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@Duncanrr wrote:
I need help staying course. Im over 6 months since apping for AMEX. My score last March was a lowly 542. I expect my EX to be between 690-710. (it's my best credit report as it still has two old cc accounts reporting perfect history). My two cc's are only 4 months old and I wanted to wait to Nov. I have 2 inq on report and still have 4 bad accounts but my other factors are excellent. I know I need to wait but would an inquiry really hurt me that much? Uggg. Help my app demon!

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You could try for Zync. If your FICO has improved that much since March, then you have a good chance. I'm not sure how they'll feel about the 4 baddies, though. That could be enough for them to not approve you. Have you tried to GW or PFD? If you can get the baddies off, your chances are a lot better. Depending on what "bad accounts" means and how long ago they were, you may or may not get approved. (I don't know if that means a 30-day late or a CO or CA.) Also the age is a factor. The more recent, the more likely it is to hurt you.

An inq isn't a big deal. But almost all of my apps have been thoroughly thought out and planned, and I've been fortunate to have been approved for everything I apped for (since finding this forum, anyway). I hate the idea of taking a ding without getting the account, and it sounds like you're the same way.

If you post more info about your credit situation, you can probably get some better advice. The FICO alone isn't enough to determine.

[Duncanrr]

I've been gwing the hell out of them. No luck so far. My scores on my sig are from here. EQ up 110 and TU up 130 in under 3 months. I have no CA, BKs or judgments. I have Verizon CO (paid) July 09, 90x late Student loan July 11, 30x late SL (different account than 90) Dec 10 and mess cap1 auto last late March 12 (string of lates no ore than 60x). I have 26 accounts, AAoA 10.6 years, income +100k, 3 years current job, 5 years own home. Other than 4 baddies, the other 22 accounts are perfect standing. Been using Amex prepaid last 2 months. My lates aren't keeping scores too depressed but I know it looks bad.

[ACsteel]

I say be patient and try to get two new cards every year, let your scores grow and don't let them keep feeling the impact from apps.

[bichonmom]

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@Duncanrr wrote:
I've been gwing the hell out of them. No luck so far. My scores on my sig are from here. EQ up 110 and TU up 130 in under 3 months. I have no CA, BKs or judgments. I have Verizon CO (paid) July 09, 90x late Student loan July 11, 30x late SL (different account than 90) Dec 10 and mess cap1 auto last late March 12 (string of lates no ore than 60x). I have 26 accounts, AAoA 10.6 years, income +100k, 3 years current job, 5 years own home. Other than 4 baddies, the other 22 accounts are perfect standing. Been using Amex prepaid last 2 months. My lates aren't keeping scores too depressed but I know it looks bad.

first post: My two cc's are only 4 months old and I wanted to wait to Nov. I have 2 inq on report and still have 4 bad accounts but my other factors are excellent.

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Not sure what make up the other 22 accounts if only 2 of them are CCs. In any case, the only way to know is to app. The thing with Amex is if they deny you, you need to address their reason for denial in the letter. Then re-apply. You can't recon. Based on your FICO and 10.6 yr AAoA, I would think you'd qualify for Zync. But your 4 baddies are likely preventing approval.

[Duncanrr]

5 revolving accounts (2 opened four months ago, 1 listed as opened but really closed, 2 closed)

21 installments (1 car note, 2 active student loans, 17 closed student loans that have been consolidated, and 1 CO account - paid)

only 1 cc shows balance (util under 1%)

car note and 2 SL show balance

-------Side note------

I have 3 degrees, BS in microbiology, MPH in Public Health and JD....thats why so many student loans

[bichonmom]

So, mostly a bunch of SLs. I would wait until November. You'll have a few more months' history on your CCs. And around Black Friday last year, they seemed really generous. And that way you can plan it so your statements can post w/0 bal beforehand. It's only 2 months away!

[LionLaw]

Why are you waiting until November?  Will your scores be significantly higher then?  Unless you're crossing some major milestone (e.g. a negative item aging a year) between now and then, I think your app is as strong now as it would be in November.