amex blue cash preferred question

[rkruse12]

Hello all,  i was hoping for some insight. I am currently waiting for my scores to update as ive payed off more then half my debt, UTIL down from 93% to 48%, i am hoping to apply for an amex credit card. My current stats are:

Chase slate: 0/750

BofA platinum Plus 0/1000

Best buy CC 0/750

Chase freedom 2800/3500

amex gold charge card- balance paid off.

My current scores are 650 experian and 651 equifax, but that was before paying down all of my debt. So with a 48% util and an annual income of 70k is that going to be still too much for an approval? I'm hoping for another credit card to keep in the garden for emergencies and help my util percentage. I also have zero missed payments and no baddies on my report. Any help will be grately appreciated folks. 

[myjourney]

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@rkruse12 wrote:

Hello all,  i was hoping for some insight. I am currently waiting for my scores to update as ive payed off more then half my debt, UTIL down from 93% to 48%, i am hoping to apply for an amex credit card. My current stats are:

Chase slate: 0/750

BofA platinum Plus 0/1000

Best buy CC 0/750

Chase freedom 2800/3500

amex gold charge card- balance paid off.

My current scores are 650 experian and 651 equifax, but that was before paying down all of my debt. So with a 48% util and an annual income of 70k is that going to be still too much for an approval? I'm hoping for another credit card to keep in the garden for emergencies and help my util percentage. I also have zero missed payments and no baddies on my report. Any help will be grately appreciated folks. 

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Questions 

AAoA

INQ's in the last year 

[mikey78]

you will need to work up your fico score towards 700 and lower the UTIL waaaay lower
the lower into the teens in utl the better your chances are but Amex will pull from TU

[Crashem]

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@mikey78 wrote:

you will need to work up your fico score towards 700 and lower the UTIL waaaay lower
the lower into the teens in utl the better your chances are but Amex will pull from TU

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TU?  I find AMEX almost always pulls Experian.

But I agree with the rest of what you said.  I guess no harm in apping now since AMEX SP on denial.  However OP might want to target for Jan to max out backdating.  Bring that chase down a bit more for score bump.

[mikey78]

they checked all 3 when i applied for BCE
and on the denial letter every reason for my denial was based off TU, also maybe it was my assumption or i misread it they pull tu

[09Lexie]

Current members are SPd on Experian. Three pulls are for borderline approvals.

I agree with Crashem, get your util lower and I'd app in Jan for max backdating.

[FinStar]

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@09Lexie wrote:
Current members are SPd on Experian. Three pulls are for borderline approvals.

I agree with Crashem, get your util lower and I'd app in Jan for max backdating.

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+1

[takeshi74]

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@rkruse12 wrote:

So with a 48% util and an annual income of 70k is that going to be still too much for an approval? 

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48% is still high.

[youngandcreditwrthy]

My Freedom has been maxxed out nearly a year /4800/5000. I got approved for Amex Bce and Delta Gold with that reporting. Overall util was 10-15%. So, my advice is to try to get sp clis to lower your overall util, then app. Also worth noting that while that card has been maxxed out, I've reached a high $30,000 total cred w Amex. It's possible, but you may want to open a GE acct and then get a big cli to report. I saw a 40 pt boost when my first 4500 cl reported. :-)