topic Re: Amex gold approval with a low score in Credit Card Approvals

Amex gold approval with a low score

lonewolf5460 — Wed, 09 Feb 2022 04:46:11 GMT

Amex gold approval with a 667 Experian and a 729 vantage 3.0 score with 100k as my reported income. I can prove more but i just switched to commision and I have been reporting and proving 70k so I did not want to trip any flags. I was in denial till i saw the card with my name on it.

1750 is my carry over limit and it seems like 5k is my max.

Discover sees my income since I have my debit account with them. So I did a pre qual for a second line of credit and got approved along with a CLI of 1k on the other line of credit.

I was high of that win and through my reserch saw that you can pre qualify with amex and I just gave it a shot!

I have done 3 car loans every 6 -7 months to thicken my credit file. I work in the car industry and with my tenure and sales for the brand I get auto approved within reason for the brands in house credit. I have 13 good files on my experian report paid as agreed.

I just got a townhouse with a co signer and a new car.

I went from a mid 430s on my equifax and in 20 months got it to a729 granted things did age off. While in the same period I got 2 starter cards that are now canceled. I am also an authorized user on 3 cards one has a 24 year history and a 16k limit and one has 10 years with a 8.8k limit.

Long story short at the time of the AMEX app I had 24 hard pulls. I have 1 bad mark on my transunion (718 score), 2 bad marks on my Experian (667) then 4 stubborn ones on my Equifax (729) that is somehow is my best score? Now as you guys say, it's time to garden for many years. I bullied my way into 5 major credit cards after canceling those starter cards.

Did not want to over share for my first post but I recognize this may be a good data point so I joined just to report this and join the community I have learned so much from.

Re: Amex gold approval with a low score

CreditMagic7 — Wed, 09 Feb 2022 05:09:41 GMT

Congratulations on the Amex Gold!

Re: Amex gold approval with a low score

CreditAggie — Wed, 09 Feb 2022 05:30:05 GMT

Congratulations on your Amex Gold approval!

Re: Amex gold approval with a low score

lonewolf5460 — Wed, 09 Feb 2022 05:36:16 GMT

Thank you to add more info

I have 1 original card from my restart. A discover it secured card with a 200 limit after 6 months I received 1k unsecured chrome card.

I have a discover debit card so discover does see my income.

My cards and limits

Discover it chrome CL 2000 age 1 year 2 months

Discover it cash back 1000 age 2 days old

Apple Card CL 5500 age 2 months

Capital one Platinum Mastercard (I screwed them in my early 20s) CL 500 age 2 months

Amex Gold Card carry over balance 1750 age 2 days

Canceled starter cards

Vystar secured CL 400 age 1 year 5 months they did approve me for 5k. Then in review with my POI the underwriter misread my income. My YTD to my bank account and My overall YTD including my cash spiffs inquires is on another part of document. They claimed I made 40k when it was 65k plus 5k on a bonus card so they rejected me and ran my credit 2 times. So I canceled and disputed the inquires.

Credit one CL 500 age 1 year 4 months.

I realize my score will take a dump very soon my new car loan and my mortgage has not hit my credit yet lol plus all these new accounts! I wont need my credit for a long time so thats why I went so hard on the new accounts.

Re: Amex gold approval with a low score

Elpadrino1 — Wed, 09 Feb 2022 05:37:56 GMT

Congratulations on your approval!!

Re: Amex gold approval with a low score

Anonymous — Wed, 09 Feb 2022 05:46:15 GMT

Congrats on your approval and thank you very much for your DP's. It all adds up over time.

Re: Amex gold approval with a low score

Spectre7_Reup — Wed, 09 Feb 2022 06:29:59 GMT

Congratulations on the Amex Gold approval !! And GL on your journey toward credit rebuilding. Thanks for sharing 👍

Re: Amex gold approval with a low score

bigseegar — Wed, 09 Feb 2022 12:49:30 GMT

Amex Gold isn't even close to being the card it use to be or as hard to get. I've seen folks with way lower scores (620) get approved for it with no problem. Congrats though.

Re: Amex gold approval with a low score

lonewolf5460 — Wed, 09 Feb 2022 13:11:12 GMT

When I researched the minimums it came up as 670 min for Experian that's interesting.

Re: Amex gold approval with a low score

purpledog12 — Wed, 09 Feb 2022 13:47:51 GMT

Congrats on your AMEX Gold approval & your overall rebuilding efforts!! The AMEX ecosystem is great & their customer service is top-notch.

Now all you have to do is head straight to the garden...

Re: Amex gold approval with a low score

Reviewers — Wed, 09 Feb 2022 15:02:19 GMT

Congratulations on your AMEX gold approval!

Re: Amex gold approval with a low score

firefox100 — Wed, 09 Feb 2022 15:21:26 GMT

Congratulations and Welcome to fico boards, enjoy.

Re: Amex gold approval with a low score

gdale6 — Wed, 09 Feb 2022 15:59:43 GMT

Grats to all your continued success and welcome to myFico

Re: Amex gold approval with a low score

cashorcharge — Wed, 09 Feb 2022 19:46:33 GMT

That's terrific!! Congratulations on your AMEX Approval!! 🎉🥂👏

Re: Amex gold approval with a low score

Relatxbles — Wed, 09 Feb 2022 19:51:55 GMT

Congrats on your approval!

Re: Amex gold approval with a low score

RSX — Wed, 09 Feb 2022 19:59:48 GMT

Congrats!

i would start getting dropped of those 3 AU accts, now that you are establishing your own

maybe 1 at a time every 6 months

Re: Amex gold approval with a low score

lonewolf5460 — Wed, 09 Feb 2022 21:52:27 GMT

I ever even thought about it? Does it look bad to have AU accounts?

Re: Amex gold approval with a low score

RSX — Wed, 09 Feb 2022 22:05:06 GMT

it doesnt look bad

it is just that some lenders will ignore the AU accts - which could mean that what you think your scores are, will not be exactly what they are looking at when they drop the AU factor from your account

another possibility is that one of the accounts could have a surprise High Util at the wrong time - ie. you are about to apply for something

(it can take 30-60 days for them to get dropped from your report)

so - i always feel it is better to use the AUs when you need them, then drop them when you have your own accts that are growing and aging

so definitely not necessary for you to drop them - but a couple of points to consider

Re: Amex gold approval with a low score

lonewolf5460 — Thu, 10 Feb 2022 06:57:15 GMT

Thank you in my situation I know I'm good with the high balance situation. these are all my family members sock drawer cards.

I did not know that they will adjust based on AU. As my own accounts age I'll slowly take them off.