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Valued Contributor
Posts: 2,027
Registered: ‎02-05-2016
0

Thinking of cold apping AMEX

I have been turned down in the past for Amex. I have app'd for the Delta Skymiles, PRG and a business card. My inquiries are as follows for those app dates. 

12-2015 Score unknown - PRG I think.

2-2016 EXP 639 - Sky Miles

4-2016 EXP 661 - Business Card

 

In a few days my UTIL will dip below 30% to about 27% and my score will likely get a pretty good bump above 700. This is a permanent drop, not from like a BT or anything. Scores and Inq's in signature are accurate. See below if you can't see my siggy.

 

When this happens I am thinking of cold apping AMEX since I don't have any pre-qualified offers from any card company at all. I wonder if my number of store cards (11) is going to be a deal breaker after reading some of the stories here though. After 5-1-17 I will only have 1 inq out of all my reports combined under 12 months old. The "Seeking Credit" factor has dropped off all 3 according to CCT 3-score report. My charge off dropped of in February so that is gone. 

 

I really don't want to get declined for this because I will be leaving the garden for this and I am hyper sensitive to inquiries now that I have been in inquiry prison for a year. I need the Blue Cash or Blue Cash Preferred. But, I am not sure I want the Everyday Card and $500SL with 5 months thing like everyone is getting. I need a decent SL but its not a deal breaker as long as it gets me in the door. I need to know what my odds are. If you need more info, just say the word. According to CCT my last late was 30 months ago. I have goodwill letters out that could change that too. What should I do to improve my odds? 

 

Scores for those who can't see them. 

TCL 96k / UTIL 31%
Experian: 680 (24) | TransUnion: 698 (30) | Equifax: 680 (19)
Gardening as of: 8-14-2016
Updated 4-14-17


TCL 100k / UTIL 25% = $25,510
Experian: 673 (33) | TransUnion: 692 (34) | Equifax: 692 (6)
Gardening as of: 6-1-2017
Updated 7-26-17
Established Member
Posts: 76
Registered: ‎03-29-2017

Re: Thinking of cold apping AMEX


MyLoFICO wrote:

I have been turned down in the past for Amex. I have app'd for the Delta Skymiles, PRG and a business card. My inquiries are as follows for those app dates. 

12-2015 Score unknown - PRG I think.

2-2016 EXP 639 - Sky Miles

4-2016 EXP 661 - Business Card

 

In a few days my UTIL will dip below 30% to about 27% and my score will likely get a pretty good bump above 700. This is a permanent drop, not from like a BT or anything. Scores and Inq's in signature are accurate. See below if you can't see my siggy.

 

When this happens I am thinking of cold apping AMEX since I don't have any pre-qualified offers from any card company at all. I wonder if my number of store cards (11) is going to be a deal breaker after reading some of the stories here though. After 5-1-17 I will only have 1 inq out of all my reports combined under 12 months old. The "Seeking Credit" factor has dropped off all 3 according to CCT 3-score report. My charge off dropped of in February so that is gone. 

 

I really don't want to get declined for this because I will be leaving the garden for this and I am hyper sensitive to inquiries now that I have been in inquiry prison for a year. I need the Blue Cash or Blue Cash Preferred. But, I am not sure I want the Everyday Card and $500SL with 5 months thing like everyone is getting. I need a decent SL but its not a deal breaker as long as it gets me in the door. I need to know what my odds are. If you need more info, just say the word. According to CCT my last late was 30 months ago. I have goodwill letters out that could change that too. What should I do to improve my odds? 

 

Scores for those who can't see them. 

TCL 96k / UTIL 31%
Experian: 680 (24) | TransUnion: 698 (30) | Equifax: 680 (19)
Gardening as of: 8-14-2016
Updated 4-14-17


I just got approved for 3 Amex accounts in the last 3 weeks. Starting FICO 8 670? Util 2%, 4 or 5 HP's on EX. I applied for EDC one day, HP, Amex Green next day, HP, Amex Plat Charge, two days ago, SOFT PULL, ALL approved. Go for it! Am I an established member after 3 weeks? I don't think so, I remain shocked I qualified for the Plat. with a SP only. I think Amex has loosened the standards since they have had two years of losses with Costco and Jetblue losses, and the Snob appeal wars with Citi/Chase. Amex means your rich? Chase Citi prestige means you're interesting to Millenials?

New Visitor
Posts: 1
Registered: ‎04-17-2017
0

Re: Thinking of cold apping AMEX

[ Edited ]

First post on here. I was approved for the BCE 2 weeks ago with only 6 months history and a 694 EX FICO, 14% UTI, 10 inq. No Pre-Qual offer either. They only gave me a $500 limit though and I believe the highest APR of 23.74. I only have 3 other accounts Discover it $1000, BofA Travel Rewards $1300 (Bank with them), and a Cap One Quicksilver $500. 

Senior Contributor
Posts: 7,353
Registered: ‎04-23-2016

Re: Thinking of cold apping AMEX

MyLo, glad to see you are doing better, i hope so anywaySmiley Wink. I wouldnt worry to much about having too many store cards as i have a few and was able to get in . I think there comes a time when if there really is a card you want a hp is worth the price of admission or at least worth trying to gage where you stand. I agree Amex does appear to have loosened up but in no means does that mean theyll be a pushover for anyoneSmiley Wink. Give it a shot, you might be pleasantly surprisedSmiley Happy
Established Contributor
Posts: 910
Registered: ‎11-19-2016

Re: Thinking of cold apping AMEX

So happy to hear that you're still hanging in there!  I think you have a very good shot at approval, but as you suspect it may be with a low line at first that you know will grow quickly by multiples of 2 or 3.  If it helps, my wife apped for her first AmEx (EveryDay) last year with no baddies after being an AU on 3 of my AmEx cards for nearly 15 years.  I think her FICO 08s were all in the 770s at the time, 200k+ income, AAoA was like 13 years, oldest 26 years, etc... and she still only got a $2000 SL!  Went to $4k after 2nd statement and to $12k after 8th statement.  Will go for $36k in a few months.  As for APR, I think 720 is the floor for lowest APRs, but AmEx is very good about lowering them quickly upon request after some payment history has been established.


400k+ club. | FICO 08 [June 2017]: EQ 745 EX 745 TU 735 | GPS Error: Unable to locate garden.
Established Contributor
Posts: 741
Registered: ‎06-02-2016
0

Re: Thinking of cold apping AMEX

MyLoFico
What was the reason for your previous Amex denial and how long ago?

Since your plan is to cold apply, I agree with you to do so when your utilization is <29% and your FICO scores are 700. At least this will increase your odds of an approval. Good luck.

|| NFCU Signature $16.5K || NFCU Platinum $7.5K || Macy's $7.5K || Discover IT $6K || Chase FU $5K || CitiCostco $4K || CitiDC $3.3K || NFCU CLOC $1K ||
Valued Contributor
Posts: 2,027
Registered: ‎02-05-2016
0

Re: Thinking of cold apping AMEX


CreditInspired wrote:
MyLoFico
What was the reason for your previous Amex denial and how long ago?

Since your plan is to cold apply, I agree with you to do so when your utilization is <29% and your FICO scores are 700. At least this will increase your odds of an approval. Good luck.

All the letters said the same thing. Everything. Too many new accounts, too many inq's, serious delinquency, the usual. I don't know if this was the actual reason or just a list of things I have done badly they used to make a decision. 


TCL 100k / UTIL 25% = $25,510
Experian: 673 (33) | TransUnion: 692 (34) | Equifax: 692 (6)
Gardening as of: 6-1-2017
Updated 7-26-17
Valued Contributor
Posts: 2,027
Registered: ‎02-05-2016

Re: Thinking of cold apping AMEX

Once you are in with Amex, apping new AMEX cards are SP's correct?


TCL 100k / UTIL 25% = $25,510
Experian: 673 (33) | TransUnion: 692 (34) | Equifax: 692 (6)
Gardening as of: 6-1-2017
Updated 7-26-17
Valued Contributor
Posts: 2,027
Registered: ‎02-05-2016
0

Re: Thinking of cold apping AMEX

Looks like I am just waiting for 4 accounts to update to PIF status or below 85% UTIL before I cna apply. Its okay though, I don't mind waiting. My UTIL will stabilize at about 27%. I think I will hold off until May to app if I do at all. 


TCL 100k / UTIL 25% = $25,510
Experian: 673 (33) | TransUnion: 692 (34) | Equifax: 692 (6)
Gardening as of: 6-1-2017
Updated 7-26-17
Regular Contributor
Posts: 197
Registered: ‎05-06-2008
0

Re: Thinking of cold apping AMEX


MyLoFICO wrote:

Once you are in with Amex, apping new AMEX cards are SP's correct?


From my understanding it's a SP if you are denied, but a HP if you are approved.  But there have been many who received only a SP.  I think it might me a YMMV kind of situation.  I apped for the ED with a HP and one month later a Green card for another HP.  

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