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Hi,
I was debating whether i should get a Discover More or Amex Blue Cash as my second card (First card is Citi Divident Master Card) to increase credit score. I chose Amex because it is more widely accepted world wide since I travel a lot. Currently studying aboard in Europe. I guess I made a mistake, is Amex THAT hard to get approved????
AMEX uses their own internal formula for determining credit worthiness. It's hard to say why you were turned down with a 760. Is that a FICO score you obtained from myfico.com or transunioncs.com ? Have you ever had an account in the past with them that went derogitory? Do you have a thin credit file?
That is also one of their reasonably more difficult cards to get started with. A lot of people app for the Delta gold card (pretty easy to get) and then PC over to blue cash.
@cdtotten wrote:AMEX uses their own internal formula for determining credit worthiness. It's hard to say why you were turned down with a 760. Is that a FICO score you obtained from myfico.com or transunioncs.com ? Have you ever had an account in the past with them that went derogitory? Do you have a thin credit file?
That is also one of their reasonably more difficult cards to get started with. A lot of people app for the Delta gold card (pretty easy to get) and then PC over to blue cash.
I used Truecredit from Transunion...Ive never had a Amex card that's why I tried to get it. My credit line is about $3000 with citi master. I guess I should go for student card from now since I don't have income.
@ChesterPDexter wrote:
Do you mind if I ask: How do you pay your bills (credit card bills, for example) if you don't have an income? Does it come from parents? Could you have an authorized user card on their accounts, if this is the case?
Yes, income source comes from my parents. Never had an authorized card from anyone else.
IMO, Discover Student is a better option in your situation. AMEX looks at income, and uses its own credit criteria....
@Anonymous wrote:
@cdtotten wrote:AMEX uses their own internal formula for determining credit worthiness. It's hard to say why you were turned down with a 760. Is that a FICO score you obtained from myfico.com or transunioncs.com ? Have you ever had an account in the past with them that went derogitory? Do you have a thin credit file?
That is also one of their reasonably more difficult cards to get started with. A lot of people app for the Delta gold card (pretty easy to get) and then PC over to blue cash.
I used Truecredit from Transunion...Ive never had a Amex card that's why I tried to get it. My credit line is about $3000 with citi master. I guess I should go for student card from now since I don't have income.
That is your big proble. The score provided from Truecredit is not a FICO score, it is a FAKO score. It in no way relates to your true FICO. You need to pull your actual FICO score from either here, or transunioncs.com (notice the cs). Your true FICO score could be a 600 and would explain why you got declined. Without income, you shouldn't app for an AMEX card, as you won't be accepted.