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The Chance AMEX Approve for Blue Cash

Established Member

The Chance AMEX Approve for Blue Cash

I currently have 3 collection accounts that are about to fall off my report in 2013. It's very hard for me to get approve for an unsecured credit card. Atm, I have USAA AMEX Card with $12,000 CL, Discover $1,850 CL, Capital One Secured Master Card $3,000 CL, and US Bank Secure Visa Card $5,000. I applied for an AMEX Blue Cash 2 months ago, and was denied because of the unpaid charge-off I have in 2006. I am looking forward to get AMEX Blue Cash in near future, so I recently opened an AMEX online saving account with the deposit of $17,000 with 1.30% APY. Im planning to let it sits there until January 2011, and re-apply for an AMEX Blue Cash. Do you think I have a better chance to have my application approved? Consider my income is $80K.

Message 1 of 16
15 REPLIES
Epic Contributor

Re: The Chance AMEX Approve for Blue Cash

unpaid charge offs until off your reports are going to get you declined for amex

Message 2 of 16
Established Contributor

Re: The Chance AMEX Approve for Blue Cash


xecutioner wrote:

I currently have 3 collection accounts that are about to fall off my report in 2013. It's very hard for me to get approve for an unsecured credit card. Atm, I have USAA AMEX Card with $12,000 CL, Discover $1,850 CL, Capital One Secured Master Card $3,000 CL, and US Bank Secure Visa Card $5,000. I applied for an AMEX Blue Cash 2 months ago, and was denied because of the unpaid charge-off I have in 2006. I am looking forward to get AMEX Blue Cash in near future, so I recently opened an AMEX online saving account with the deposit of $17,000 with 1.30% APY. Im planning to let it sits there until January 2011, and re-apply for an AMEX Blue Cash. Do you think I have a better chance to have my application approved? Consider my income is $80K.


Seems like those collection accounts are fairly recent.  Your scores are very good.  I would consider going to Amex prequal and see if you prequalify for any cards first. Maybe app for the Zync card, and then PC into the Blue at a later date.  I know you want a credit card, but this might be the way to go, given those items that won't come off until 2013.  I've seen people with mid 600 scores and collection items get the Zync.  At least your foot would be in the door.  How does the last 24 months look like?  I assume its clean other than those 3 items?  What does everyone else think?

Current Score: EQ: 828, EX: 833, TU: 820 Citi TY Premier WEMC 46.5, (Since 1983)Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| Cap One QS WMC 15K|Chase Freedom VS 19.3k|Citi Dividend WEMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Macys 5k|Sams MasterCard 15k|Barclay Arrival Plus WEMC 18.7k|Chase IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k|Amex Everyday 16.2|BBVA Amex 22.5k|Total Rewards VS 12.5k|SGV 10K|Venture 12k|BOA Virgin Atlantic WEMC 11.2K|MB Amex 9.5k
Message 3 of 16
Established Member

Re: The Chance AMEX Approve for Blue Cash

3 negative accounts on my credit report:

MIDLAND CRED (This account is scheduled to continue on record until Mar 2013). Collection account. $8,160 past due as of Aug 2010.
MIDLAND CRED (This account is scheduled to continue on record until Apr 2013). Collection account. $6,113 past due as of Aug 2010.
SST/CIGPF1C (This account is scheduled to continue on record until May 2012). Collection account. $907 past due as of Aug 2010.

 

All of my credit cards are paid off. I don't carry balance.

All of my accounts are paid on time; never late. Except Collection/charge-off accounts.

 

I'd like to know what's my chance to get approve for an AMEX Blue Cash Card Instantly.

Message 4 of 16
Regular Contributor

Re: The Chance AMEX Approve for Blue Cash

Not going to happen.

Message 5 of 16
Frequent Contributor

Re: The Chance AMEX Approve for Blue Cash

If it were me I'd try for the Zync card and if denied I'd wait until 2013 when the baddies fall off before trying again. By that time the inquiry will have gone poof too.

Message 6 of 16
Established Contributor

Re: The Chance AMEX Approve for Blue Cash

You might be very surprised. It looks like AMEX and Discover have temporary fallen off of their high horse since the credit card act, and the crunch. Now it seems, that people with low fico scores are getting approved, with collections etc.. But the main factor is your income. If you have superb income, Amex might just slide you a card on a hush.

 

Cory

Message 7 of 16
Regular Contributor

Re: The Chance AMEX Approve for Blue Cash

 


Cory wrote:

You might be very surprised. It looks like AMEX and Discover have temporary fallen off of their high horse since the credit card act, and the crunch. Now it seems, that people with low fico scores are getting approved, with collections etc.. But the main factor is your income. If you have superb income, Amex might just slide you a card on a hush.

 

Cory

 


 

I guarantee that he will get declined with those recent unpaid collections regardless of his income. It's not even worth the inquiry. 

 

Also, OP: you need to concern yourself with getting those collections off your file. If they really are unpaid, you have to worry about them suing you for it which adds a judgment to your file. If the current debt owner sells it again, that's likely what's going to happen.

Message 8 of 16
Established Member

Re: The Chance AMEX Approve for Blue Cash

in less than 3 years, all the negative marks and collection accounts will be POOOFFFFF!!! All gone. If I were to pay them, I would have paid them a lot sooner. Second, I tried to contact Midland to settle for balance for delete, but they're ignorant to delete their own report. They offer to update the report as "Paid in full." Third, the DOFD is back in June 2006, therefore, the SOL has expired (Texas - 4 years). Being sue is one thing less I have to worry about. Currently, I'm trying to defeat Midland, and have those deleted from my report. I have successfully disputed and removed charge-off and collection account in the past few months. The ones I'm struggling to get it off my back is Midland.

 

PS: I have a perfect thought to get my family members or friends to work of all three bureaus, and fix my report Smiley Happy

Message 9 of 16
Established Contributor

Re: The Chance AMEX Approve for Blue Cash

 


xecutioner wrote:

in less than 3 years, all the negative marks and collection accounts will be POOOFFFFF!!! All gone. If I were to pay them, I would have paid them a lot sooner. Second, I tried to contact Midland to settle for balance for delete, but they're ignorant to delete their own report. They offer to update the report as "Paid in full." Third, the DOFD is back in June 2006, therefore, the SOL has expired (Texas - 4 years). Being sue is one thing less I have to worry about. Currently, I'm trying to defeat Midland, and have those deleted from my report. I have successfully disputed and removed charge-off and collection account in the past few months. The ones I'm struggling to get it off my back is Midland.

 

PS: I have a perfect thought to get my family members or friends to work of all three bureaus, and fix my report Smiley Happy


Those delinquent accounts will stay on your credit report for 7 years after they were charged off regardless of any states SOL.  The CA will not delete unless they are willing to PFD if they even do that.  Some debt collectors like RJM keep their word but a lot of them just want your $$.  I agree with the other respondents.  It is unlikely that America Express is going to approve a card with those on your file especially with the DOFD and the amounts.  It's your call but I'd wait til those fall off.  

 

P.S. Where did you get those scores in your siggy?  EX isn't available to the public and hasn't for a while now.  And why is there such a dramatic increase in the month between scores?  And the family and friends idea? not advisable unless they don't plan on keeping their job

 

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Message 10 of 16