topic Re: AMEX Gold Approval! in Credit Card Approvals

AMEX Gold Approval!

Rex95 — Sun, 31 Oct 2021 17:20:10 GMT

This is the third time I've posted to the approvals board in the past 7 days, so it's safe to say that I've had a great week! I think I'm done for this week.😂

I had a short period of high utilization on two of my revolving accounts over the past few months 85% and 88%, respectively (with 75% overall). Keep in mind that the spending limits on these accounts are relatively low. $1,900 and $2k, respectively, so it's not like I had 15k limits that were maxed out. I paid both of these off about a week ago, but they won't report until later in November. I said "what the heck" and took the plunge today, anyway. Amex gave me a mini heart attack when the "Would you like to add additional cards?" page appeared, but when I saw that, I knew things were looking good. BOOM! Instsntly approved, with 85+% utilization still on 2 revolving cards since my report hasn't updated yet. Also worth noting, I have 5 late payments (nothing more than 60 days) still reporting with the most recent being almost 6 years old. Also worth noting, and a big reason for my approval in my opinion, is that even though my utilization on 2 cards was very high, my DTI is extremely low. Less than 5%. AAoA was also 6 years, and only 2 inquiries which will fall off in January.

EX was 717 at approval. When the paid off balances report at the end of November, I'm sure that number will jump to the mid - upper 700s.

This is my first AMEX, so I'm very happy about this one. A great end to a great week of CLIs and credit success!

Re: AMEX Gold Approval!

Rebuild2019 — Sun, 31 Oct 2021 17:27:59 GMT

Congratulations 🎉🎈🎊 on your AMEX Approval. I Remember how I felt when I had My AMEX approval. Enjoy!!

Re: AMEX Gold Approval!

M_Smart007 — Sun, 31 Oct 2021 17:35:18 GMT

Congratulations on your AmEx Gold approval !!!

Re: AMEX Gold Approval!

Anonymous — Sun, 31 Oct 2021 17:42:25 GMT

Congrats!

Can you share where/how Amex sent you the card solicitation? I'm curious to know what pipeline they used to track you down for an offer.

Re: AMEX Gold Approval!

Irv02 — Sun, 31 Oct 2021 17:48:20 GMT

Congrats on your approval with Amex!!

Re: AMEX Gold Approval!

Rex95 — Sun, 31 Oct 2021 17:49:52 GMT

They didn't.😂 I went to their website to check for offers, and was prequalified for all their cards. I jumped on the 75k offer for 4k spend in 6 months on the Gold. They've never sent me an offer in the mail, email, etc.

Re: AMEX Gold Approval!

gdale6 — Sun, 31 Oct 2021 18:13:57 GMT

Grats on your gold as the first one

Re: AMEX Gold Approval!

practical1 — Sun, 31 Oct 2021 18:25:54 GMT

Excellent work! Your example provides hope, for so many who don't have "textbook," pristine credit files. The Gold Card is, to my mind, one of the better values in a premium card. If you judiciously take advantage of the many small credits available for purchases, over the course of a year you can easily recoup the annual fee. Hope you ordered the rose gold version -- it's really attractive! Nice weight, feel and "plonk," too.

Next stop for you might be to look at some of the AMEX credit cards, once you've built-up some history with them.

Re: AMEX Gold Approval!

Rex95 — Sun, 31 Oct 2021 19:01:16 GMT

Thanks for your comment! I plan to get a BCE after a few months (for gas purchases only) since that's a major expense for me. I want to put everything on the Gold for the first couple months so I hit the sign up bonus though. Oh, and I agree that the rose gold looks good, but I went with the original... I'm a purist😂

I will also say, for anyone with high utilization, I do not condone getting ANY new credit until the balances are paid off. Paying down should be priority #1. Otherwise, any reward you earn will be offset by interest payments. In my case, I had already paid both of them off, but went ahead and applied before they reported because I have very few inquiries and didn't mind taking that risk. If my DTI were higher, I'm sure I would have been denied.

Re: AMEX Gold Approval!

cashorcharge — Sun, 31 Oct 2021 21:44:57 GMT

That’s terrific! Congratulations on your AMEX approval!! 👏🏼🎉🍾

Re: AMEX Gold Approval!

CreditAggie — Sun, 31 Oct 2021 22:07:04 GMT

Congratulations on your Amex Gold approval!

Re: AMEX Gold Approval!

BlueLieutenant — Sun, 31 Oct 2021 22:31:44 GMT

Congrats on your approval! I was just as excited this week when they hit me with the "Would you like additional cards" page! It's only up from here. I did a double play with them two days later and got another AMEX! You never know unless you try!

Re: AMEX Gold Approval!

Rex95 — Sun, 31 Oct 2021 23:30:00 GMT

I'm tempted to pull the trigger on the BCE (for my gas expenses only) before the day is over to try for two on a single hard pull, but I'm leaning towards not doing that as I want to put all my spending on the Gold for the next couple months so I get the 75k points quickly. Can always get the BCE later.

Re: AMEX Gold Approval!

KingRue8500 — Mon, 01 Nov 2021 00:03:58 GMT

Congrats on your AMEX Gold approval

Re: AMEX Gold Approval!

Sub16610 — Mon, 01 Nov 2021 01:57:44 GMT

Great week indeed, congrats! Do you mind sharing your POTL? You got the nicer SUB. Currently working on my SUB. 60K/4000/6.

Re: AMEX Gold Approval!

Rex95 — Mon, 01 Nov 2021 02:26:08 GMT

Yes, I forgot to include that in the original post. The POT limit is $15,000 at 22%. I don't care about the interest though as I don't plan to carry a balance. Interest payments eat away at any rewards you earn.

I missed out on the 100k bonus they were doing, but I'm definitely happy with the 75k!

Re: AMEX Gold Approval!

Total80sKid — Mon, 01 Nov 2021 04:09:55 GMT

Congrats on your Gold approval 👍🏼