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Time to apply for AMEX?? Advice pls!

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taxi818
Super Contributor

Re: Time to apply for AMEX?? Advice pls!

I read every thread. The only one so far is check your fico. Experian. Pat the 20. What card. Depending on which one. Go for it. I just got two cards in last 5 days. Experian 674 now.  1 old collection 4 years old paid. 12 new cards in last year. And 11 inquiries on experian. So they are very friendly now. Especially if discover has not reported. Get em while they re hot. 

Message 11 of 19
Anonymous
Not applicable

Re: Time to apply for AMEX?? Advice pls!

Well, now I've another situation that I'd like everyone's opinion for. 

 

So my sister has an AmEx, but it currently has a high utilization (approx. 70%). Could I just get added as an AU, take the hit to my overall utilization for a month, and then after one statement, remove myself from being an authorized user, just to utilize that established MSD with AmEx?

 

This way, I can establish the 2014 MSD that I really want, without having to take a hit to the tally of hard pulls. Would this work out like I'm thinking, or is there something I'm missing?

Message 12 of 19
mongstradamus
Super Contributor

Re: Time to apply for AMEX?? Advice pls!


@Anonymous wrote:

Well, now I've another situation that I'd like everyone's opinion for. 

 

So my sister has an AmEx, but it currently has a high utilization (approx. 70%). Could I just get added as an AU, take the hit to my overall utilization for a month, and then after one statement, remove myself from being an authorized user, just to utilize that established MSD with AmEx?

 

This way, I can establish the 2014 MSD that I really want, without having to take a hit to the tally of hard pulls. Would this work out like I'm thinking, or is there something I'm missing?


I don't think you can get your MSD from AU account. I think it has to be your own account. Somebody could correct me if i am wrong on that. 

 

As long as we are throwing questions out , I am wondering when i app for EDP , should i wait for that to report so it will increase my aaoa, since msd is 1995, before apping for boa BBR.  Do you think the change of aaoa in my credit reports will change the chances of me getting a higher cl ?



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 13 of 19
Anonymous
Not applicable

Re: Time to apply for AMEX?? Advice pls!

 


@mongstradamus wrote:

I don't think you can get your MSD from AU account. I think it has to be your own account. Somebody could correct me if i am wrong on that.  

 


 

 If I read correctly on other posts, becoming an AU on an AmEx establishes your MSD with them. You just don't get the same MSD as the original/primary cardholder. So for example, say your dad has an AmEx card with an MSD of 2010, and you became an AU today. Your MSD would be Oct 2014, not 2010. And that would apply for any succeeding cards that you attain from AmEx. 

Message 14 of 19
Anonymous
Not applicable

Re: Time to apply for AMEX?? Advice pls!

Hate to up a thread, but I'd really just like some feedback from others on my second plan to become an AU.

 

Please refer to Message 12 of X for the second plan I'm referring to.

 

Thanks in advance!

Message 15 of 19
Anonymous
Not applicable

Re: Time to apply for AMEX?? Advice pls!


@Anonymous wrote:

Well, now I've another situation that I'd like everyone's opinion for. 

 

So my sister has an AmEx, but it currently has a high utilization (approx. 70%). Could I just get added as an AU, take the hit to my overall utilization for a month, and then after one statement, remove myself from being an authorized user, just to utilize that established MSD with AmEx?

 

This way, I can establish the 2014 MSD that I really want, without having to take a hit to the tally of hard pulls. Would this work out like I'm thinking, or is there something I'm missing?


I wouldn't. Not with that UTL.

Message 16 of 19
Anonymous
Not applicable

Re: Time to apply for AMEX?? Advice pls!


@Anonymous wrote:

@Anonymous wrote:

Well, now I've another situation that I'd like everyone's opinion for. 

 

So my sister has an AmEx, but it currently has a high utilization (approx. 70%). Could I just get added as an AU, take the hit to my overall utilization for a month, and then after one statement, remove myself from being an authorized user, just to utilize that established MSD with AmEx?

 

This way, I can establish the 2014 MSD that I really want, without having to take a hit to the tally of hard pulls. Would this work out like I'm thinking, or is there something I'm missing?


I wouldn't. Not with that UTL.


Even if it's just temporary? Like I said, I would do it just to establish that 2014 MSD, then I would have my sister close my authorized user account. Hypothetically speaking, if I were to become an AU this month, I would close it probably no later than December. 

 

The temporary high utilization just seems like a better route to go compared to a hard pull and an uncertain decision for a new card.

Message 17 of 19
red259
Super Contributor

Re: Time to apply for AMEX?? Advice pls!


@Anonymous wrote:

So I currently have 4 cards and they're as follows:

 

Fifth Third Secured (15 Months) - $300 Limit - $0 Balance

Express Next Store Card (11 Months) - $850 Limit - $0 Balance

Capital One QS (6 Months) - $1000 Limit - Approx. $80 Balance

Discover IT for Students (2 Months) - $2500 Limit - Approx. $1800 Balance

 

I got my statement from Discover today, and it says my FICO Score (Transunion) is 687. While CK says my score is at 695. I really only have a high balance on my Discover because I did a BT. The thing is, my Discover has yet to report to CRA's, so any information regarding my Discover has not yet played a role in my report and score. 

 

So without the Discover, my AAoA is at around 11 months and my overall utilization is at a 3%. CapOne's statement close is next week; so I can pay it off now and have 0% overall utilization reported by next week, if needed. I have 7 inquiries on my Experian report (I know that's what Amex pulls), 3 of which are within the past 6 months.

 

 

With all this said, should I carpe diem and apply for the AmEx I've been yearning to get?? 

 

All feedback is much appreciated! Thanks in advance!


While your AAoAs may be 11 months without your Discover card I fail to see what that has to do with anything. Your AAoAs is your AAoAs and to try to minimize it is just silly, because no lender is going to be viewing it that way. You had three inqs within the past six months. Will any of those be over six months before the end of the year? The best thing to do is garden at this point. Depending on the details of your credit report you may want to try for an amex as late in the year as possible (so end of December) to try to get a 2014 MSD. If you really want to be sure of an approval I would garden six months so that you have a year showing on your cap 1 account, otherwise you have a shot in December, but there are no guarantees. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 18 of 19
red259
Super Contributor

Re: Time to apply for AMEX?? Advice pls!


@mongstradamus wrote:

@Anonymous wrote:

Well, now I've another situation that I'd like everyone's opinion for. 

 

So my sister has an AmEx, but it currently has a high utilization (approx. 70%). Could I just get added as an AU, take the hit to my overall utilization for a month, and then after one statement, remove myself from being an authorized user, just to utilize that established MSD with AmEx?

 

This way, I can establish the 2014 MSD that I really want, without having to take a hit to the tally of hard pulls. Would this work out like I'm thinking, or is there something I'm missing?


I don't think you can get your MSD from AU account. I think it has to be your own account. Somebody could correct me if i am wrong on that. 

 

As long as we are throwing questions out , I am wondering when i app for EDP , should i wait for that to report so it will increase my aaoa, since msd is 1995, before apping for boa BBR.  Do you think the change of aaoa in my credit reports will change the chances of me getting a higher cl ?


Not sure how much of a difference it will make in terms of credit line. I guess it depends on how low your current AAoA is. If you have a high AAoAs then this won't have a major impact, but if you have a really low AAoA then it could make a difference. In the end I would wait to app until the card reports to your CR, unless there are other reasons you need the card now. If you have a pressing interest then I would just app, but if waiting would have no impact on you then why not wait and see if it helps. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 19 of 19
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