topic Re: Accepted by Amex with a very bad credit profile in Credit Card Approvals

Accepted by Amex with a very bad credit profile

Crossgamerhd — Sun, 08 May 2022 01:13:54 GMT

Hey guys,

I'm in process of rebuilding my credit.

I got a 40k au total with one charge off from chase still active. Hoping to pay off after I move out this year

Anyway, i finally hit barely "good" credit with a 675 ex and Tu and 686 eq

I decided for fun to apply for Amex.

I went to their site and checked their pre qualify link. I was pre qualified for 3 cards including the gold card

I was like **bleep** why not.

To my surprise, I was expected to get declined

Boom, I was accepted for Amex gold. I already have it here with me. I had a bunch of crappy cards I'm gonna dump well just not waste time using anymore. Just use my gold card.

I'm just curious how did Amex decide to approve me while other banks still dont want to touch me.

I'm really happy and grateful to Amex.

Hope to apply everything I learned in the last two years into good use and manage my expenses and finance well.

Oh also for anyone wondering I also make 90k lol not lot of money but I still have 6 late payments and 5 charged off all recent. Barely year old.

Re: Accepted by Amex with a very bad credit profile

Elpadrino1 — Sun, 08 May 2022 01:38:56 GMT

Congratulations on your Amex approval!!

Re: Accepted by Amex with a very bad credit profile

Crossgamerhd — Sun, 08 May 2022 01:52:53 GMT

@Elpadrino1 wrote:
Congratulations on your Amex approval!!

Thank you!

Was really unexpected and really made my weekend. Really grateful to Amex.

Re: Accepted by Amex with a very bad credit profile

CreditMagic7 — Sun, 08 May 2022 02:11:13 GMT

Congratulations on your new Amex approval!!

Re: Accepted by Amex with a very bad credit profile

babygirl1256 — Sun, 08 May 2022 02:48:55 GMT

Congrats on your Amex Gold Card approval. This is a fantastic opportunity for you and perhaps you should consider trying to negotiate removal of those charge-offs and late payments. Another six years is a long time (to me) waiting for the negative information to purge. Best wishes with your credit rebuild.

Re: Accepted by Amex with a very bad credit profile

Howaboutthat — Sun, 08 May 2022 04:33:01 GMT

Congrats on your Amex approval, by the way $90,000.00 isn't chump change.

Re: Accepted by Amex with a very bad credit profile

Crossgamerhd — Sun, 08 May 2022 11:15:41 GMT

@babygirl1256 wrote:
Congrats on your Amex Gold Card approval. This is a fantastic opportunity for you and perhaps you should consider trying to negotiate removal of those charge-offs and late payments. Another six years is a long time (to me) waiting for the negative information to purge. Best wishes with your credit rebuild.

Hi there, i've tried to. i've been very unsuccessful. they said they have reported everything correctly and unable to change anything at this time.

honestly, i'd pay to have them removed but seems impossible so far.

and thanks

Re: Accepted by Amex with a very bad credit profile

TSlop — Sun, 08 May 2022 11:40:15 GMT

Congrats on your approval!

Re: Accepted by Amex with a very bad credit profile

coreyb80 — Sun, 08 May 2022 13:42:15 GMT

Congrats on the approval!

Re: Accepted by Amex with a very bad credit profile

gdale6 — Sun, 08 May 2022 13:59:32 GMT

Grats on your Amex gold approval!!!

Re: Accepted by Amex with a very bad credit profile

Danmae777 — Sun, 08 May 2022 15:21:43 GMT

Congratulations, good for you.

Re: Accepted by Amex with a very bad credit profile

Yasselife — Sun, 08 May 2022 16:01:04 GMT

Congratulations 🎊💳🎉

Re: Accepted by Amex with a very bad credit profile

CreditAggie — Mon, 09 May 2022 04:49:16 GMT

Congratulations on your Amex approval!

Re: Accepted by Amex with a very bad credit profile

Mdowning30 — Mon, 09 May 2022 11:14:58 GMT

Imagine how I feel going from my toy limit cards to being accepted by Amex with a good starting limit at that

Re: Accepted by Amex with a very bad credit profile

SUPERSQUID — Mon, 09 May 2022 11:35:04 GMT

@Crossgamerhd wrote:
Hey guys,
I'm in process of rebuilding my credit.
I got a 40k au total with one charge off from chase still active. Hoping to pay off after I move out this year
Anyway, i finally hit barely "good" credit with a 675 ex and Tu and 686 eq
I decided for fun to apply for Amex.
I went to their site and checked their pre qualify link. I was pre qualified for 3 cards including the gold card
I was like **bleep** why not.
To my surprise, I was expected to get declined
Boom, I was accepted for Amex gold. I already have it here with me. I had a bunch of crappy cards I'm gonna dump well just not waste time using anymore. Just use my gold card.
I'm just curious how did Amex decide to approve me while other banks still dont want to touch me.
I'm really happy and grateful to Amex.
Hope to apply everything I learned in the last two years into good use and manage my expenses and finance well.

Oh also for anyone wondering I also make 90k lol not lot of money but I still have 6 late payments and 5 charged off all recent. Barely year old.

CONGRATS!!!!!

What starting liimit did they give you?

Re: Accepted by Amex with a very bad credit profile

bigseegar — Mon, 09 May 2022 11:55:32 GMT

@SUPERSQUID wrote:
CONGRATS!!!!!
What starting liimit did they give you?

AmEx doesn't have a "SL" per se as it's a Charge card and not a credit card and must be PIF each month (aside from certain POT charges). It has a backside "soft type limit" that only AmEx knows. IF they allowed POT for this new Member then that will be stated and likey very low at for at least the beginning based on what the Poster said about their credit history.

Re: Accepted by Amex with a very bad credit profile

bigseegar — Mon, 09 May 2022 12:02:43 GMT

@Crossgamerhd wrote:
Hey guys,
I'm in process of rebuilding my credit.
I got a 40k au total with one charge off from chase still active. Hoping to pay off after I move out this year
Anyway, i finally hit barely "good" credit with a 675 ex and Tu and 686 eq
I decided for fun to apply for Amex.
I went to their site and checked their pre qualify link. I was pre qualified for 3 cards including the gold card
I was like **bleep** why not.
To my surprise, I was expected to get declined
Boom, I was accepted for Amex gold. I already have it here with me. I had a bunch of crappy cards I'm gonna dump well just not waste time using anymore. Just use my gold card.
I'm just curious how did Amex decide to approve me while other banks still dont want to touch me.
I'm really happy and grateful to Amex.
Hope to apply everything I learned in the last two years into good use and manage my expenses and finance well.

Oh also for anyone wondering I also make 90k lol not lot of money but I still have 6 late payments and 5 charged off all recent. Barely year old.

Congrats on your approval and welcome to AmEx membership! Used right they are great cards with lots of perks. To answer your question you probably got approved mainly because the Gold Card is not nearly as difficult to obtain with a decent salary and credit score as a lot folks think. Plus it's NOT a credit card but is instead a Charge Card that most be PIF each month and while you won't know you true CL has only AmEx knows that on this card they will likely start you kinda of low and see how you do. Guess would be probably on the $1K-$2K a month allowed charges. Now if they also activated the POT feature on your card it is possible to make payments on certian larger purchases, but not recommended as smart as the APR will be very high. I personally have never used that feature even when I could. I just PIF every month period.

Re: Accepted by Amex with a very bad credit profile

SouthJamaica — Mon, 09 May 2022 12:09:54 GMT

@Crossgamerhd wrote:
Hey guys,
I'm in process of rebuilding my credit.
I got a 40k au total with one charge off from chase still active. Hoping to pay off after I move out this year
Anyway, i finally hit barely "good" credit with a 675 ex and Tu and 686 eq
I decided for fun to apply for Amex.
I went to their site and checked their pre qualify link. I was pre qualified for 3 cards including the gold card
I was like **bleep** why not.
To my surprise, I was expected to get declined
Boom, I was accepted for Amex gold. I already have it here with me. I had a bunch of crappy cards I'm gonna dump well just not waste time using anymore. Just use my gold card.
I'm just curious how did Amex decide to approve me while other banks still dont want to touch me.
I'm really happy and grateful to Amex.
Hope to apply everything I learned in the last two years into good use and manage my expenses and finance well.

Oh also for anyone wondering I also make 90k lol not lot of money but I still have 6 late payments and 5 charged off all recent. Barely year old.

My theory is that it's their large annual fees and the 30 day cycle. With the charge cards they make a lot of money from the large annual fees, in addition to the swipes, and they are really keeping their customers on a short leash by requiring repayment in the very next cycle. They also manage their risk by giving you an internal spending limit.

Re: Accepted by Amex with a very bad credit profile

cashorcharge — Mon, 09 May 2022 16:25:07 GMT

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

Re: Accepted by Amex with a very bad credit profile

Crossgamerhd — Mon, 09 May 2022 16:37:26 GMT

All my limits with 6 cards were only 5 grand

Awful.

They all paid off and I'm not gonna close them but I'm not gonna use them either since I got the gold.

You see if you are qualified and try your luck and apply.