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I had an AMEX Green back in the 1990's and it was closed by them, but immediately paid in full by me. It had a member date of since 1996. Over the years, I have handled credit well, and I have had times where I completely screwed things up. What I am wanting is some prime cards, and the top of that list for me is AMEX PRG and BCE. My middle score is a 659 currently.
The good: 3 credit cards open, perfect payment history going back to 2005.
No current inquiries on Experian, 4 on Equifax, and 1 on TU
WF Auto Loan, 36 months into 60 Term. absolute perfect payment history (pay more than minimum since inception0
Oldest account 18 years, average of account 8 years
Verifiable income of 75,000 per year.
No public records, BK, repo, judgements, liens, etc.
The Bad: 30, 60, 90, 120 lates on Student loan, but nothing late since 2009. Everything current now.
2 charge-offs credit cards. One never paid due to fall off report in 2013. One paid in full in collections in 2011. (last activity had been 2007)
No mortgage.
63% Util.
my question is do I have a decent chance of getting approved for AMEX in my current situation? I realize that a revolver would be hard to get, what what about PRG? Should I just sit in the garden for another year or two instead? My score has been stuck where it is for about a year now. Not sure what else to do other than getting my utilization down. I should be able to get utilization under 15% within a few months at the most. Has anyone been approved for an AMEX with a comparable profile to mine? I really don't want the Delta Gold Amex because I don't really ever fly Delta and even if I did, I have heard that it is pretty worthless card for reward miles/redemption. Any advice would be great!
You know you can PC Delta Gold right away to BCE right?
To be honest, 90 and 120 days late are going to be a deal braker here. Especially 120 days late, it is almost as bad as a collection.
@BrickTime wrote:I had an AMEX Green back in the 1990's and it was closed by them, but immediately paid in full by me. It had a member date of since 1996. Over the years, I have handled credit well, and I have had times where I completely screwed things up. What I am wanting is some prime cards, and the top of that list for me is AMEX PRG and BCE. My middle score is a 659 currently.
The good: 3 credit cards open, perfect payment history going back to 2005.
No current inquiries on Experian, 4 on Equifax, and 1 on TU
WF Auto Loan, 36 months into 60 Term. absolute perfect payment history (pay more than minimum since inception0
Oldest account 18 years, average of account 8 years
Verifiable income of 75,000 per year.
No public records, BK, repo, judgements, liens, etc.
The Bad: 30, 60, 90, 120 lates on Student loan, but nothing late since 2009. Everything current now.
2 charge-offs credit cards. One never paid due to fall off report in 2013. One paid in full in collections in 2011. (last activity had been 2007)
No mortgage.
63% Util.
my question is do I have a decent chance of getting approved for AMEX in my current situation? I realize that a revolver would be hard to get, what what about PRG? Should I just sit in the garden for another year or two instead? My score has been stuck where it is for about a year now. Not sure what else to do other than getting my utilization down. I should be able to get utilization under 15% within a few months at the most. Has anyone been approved for an AMEX with a comparable profile to mine? I really don't want the Delta Gold Amex because I don't really ever fly Delta and even if I did, I have heard that it is pretty worthless card for reward miles/redemption. Any advice would be great!
I wish I could speak from Amex experience but in my rejection letter last month, they said my balances were too high to limit and my util was only 10% (stupid mid cycle reporting) and amount of recent accounts. The score from my Exp was 702, oldest account 28 years, AAOA 8 years, $300 coll due to fall off in March, paid mortgage, paying on student loans forever- no lates, new Chase auto loan 6mos but all revolving credit was new-so off to the garden I go unil 2013. My 'new credit' will be almost 9 mos.
Hope that gives you some help in your decision.
Do you have a particular reason to possess an Amex card soon? If not, gardening for a couple of months will help your chances a lot.... Your score seems too low, even for charge cards.
@HiLine wrote:Do you have a particular reason to possess an Amex card soon? If not, gardening for a couple of months will help your chances a lot.... Your score seems too low, even for charge cards.
His income is high and file is probably thick.... I think he should go for it and if declined just wait 6 months.