topic Re: Amex Approval odds in Credit Card Approvals

Amex Approval odds

smcol — Wed, 23 Apr 2014 10:13:58 GMT

Hi all,

Can't decide what I should do, I want to get an Amex charge card (gold rewards), but not sure if I should wait or apply now.

Here is where I am at:

- Util: 5%

- Income: 150k

- Average account age: 1.9 Years

- Oldest account age: 3.8 Years

- No baddies

- Experian score: 736

- 3 hard inquries

- Last inqury last month 3/20/2014 for a Chase Freedom which was approved

- Amex inqury (denied) 2/2013

- WF Bank account 11/2013

I have currently have two cards:

- Wells Fargo Credit Card with $2,000 CL

- Chase Freedom with $1,000 CL

What should I do?

Re: Amex Approval odds

Shock — Wed, 23 Apr 2014 10:41:02 GMT

You look more than qualified. Why did you get denied last year?

Re: Amex Approval odds

smcol — Wed, 23 Apr 2014 10:43:02 GMT

Thanks for the reply! I had about 4 collection accounts that had my score at ~570, but I spent a lot of time getting them all removed and it shot my score up to where it's at now. AMEX doesn't care if I just opened that chase freedom card?

Re: Amex Approval odds

Shock — Wed, 23 Apr 2014 10:46:36 GMT

I personally think it's fine. Other people can chime in as well. Has the Freedom reported yet?

Re: Amex Approval odds

Chris679 — Wed, 23 Apr 2014 10:53:41 GMT

You won't find many who are more conservative than me when it comes to apps and I say dooooo it.

Re: Amex Approval odds

smcol — Wed, 23 Apr 2014 11:00:14 GMT

Thank you guys!!!!! Two people was enough for me to pull the trigger.

The results:

We are pleased to let you know that your application for the Premier Rewards Gold Card has been approved. We hope you’ll enjoy the benefits of Card Membership.

Re: Amex Approval odds

Shock — Wed, 23 Apr 2014 11:05:51 GMT

NICE!!! Quickly app for a revolver as well!! Might get 2 for 1 pull!

Blue Cash Everyday r Blue Cash Preferred or any one of their revolvers!!

Hurry!!

Re: Amex Approval odds

Anonymous — Wed, 23 Apr 2014 12:37:07 GMT

@Shock wrote:
NICE!!! Quickly app for a revolver as well!! Might get 2 for 1 pull!

Blue Cash Everyday r Blue Cash Preferred or any one of their revolvers!!

Hurry!!

I agree!

Re: Amex Approval odds

alvon123 — Wed, 23 Apr 2014 13:08:45 GMT

@smcol wrote:

Thank you guys!!!!! Two people was enough for me to pull the trigger.

The results:

We are pleased to let you know that your application for the Premier Rewards Gold Card has been approved. We hope you’ll enjoy the benefits of Card Membership.

congrats

Re: Amex Approval odds

1_2 — Wed, 23 Apr 2014 13:29:17 GMT

Congrats! I was going to say go for it, but I see you already did.

It feels good doesnt it!

Way to go!

Re: Amex Approval odds

ways2go — Wed, 23 Apr 2014 13:55:47 GMT

Congrats. It took me over a year and a half to finally get an Amex. I got two in the past two weeks. I don't know why.

Re: Amex Approval odds

BigBS — Wed, 23 Apr 2014 14:05:23 GMT

Congrats! Definitely take advantage of the opportunity and go for one of the revolvers.

Re: Amex Approval odds

alinoapa — Thu, 24 Apr 2014 01:49:22 GMT

@smcol wrote:

Thank you guys!!!!! Two people was enough for me to pull the trigger.

The results:

We are pleased to let you know that your application for the Premier Rewards Gold Card has been approved. We hope you’ll enjoy the benefits of Card Membership.

Awesome news!!! Congrats

Re: Amex Approval odds

gdale6 — Thu, 24 Apr 2014 02:51:14 GMT

Grats on your new AMEX OP

Re: Amex Approval odds

Kenny — Thu, 24 Apr 2014 03:52:25 GMT

Congrats! Did you ever apply for the revolver, OP?

Re: Amex Approval odds

-Wade- — Thu, 24 Apr 2014 04:50:13 GMT

Congrats on your approval OP

Re: Amex Approval odds

Anonymous — Fri, 16 May 2014 16:59:21 GMT

@BigBS wrote:
Congrats! Definitely take advantage of the opportunity and go for one of the revolvers.

Would you please explain the overall benefit of going for both a revolver and a charge card? Is it just to capitalize on the potential opportunity to get two different cards from one hard inquiry?

For example, I'm considering applying for the EveryDay Preferred card. Which charge card should I consider applying for as well, and why?

Thanks in advance!

* EDIT * - - To further flesh this out: I would not be able to hit the $30k spend to get the 15k bonus points available through the AmEx PRG, and I don't see the point of the AmEx Green Card. My initial plan had been to apply for the EveryDay Preferred card, then to go for the Chase Sapphire Preffered.

Re: Amex Approval odds

efranklin23 — Fri, 16 May 2014 22:07:42 GMT

@smcol wrote:

Thank you guys!!!!! Two people was enough for me to pull the trigger.

The results:

We are pleased to let you know that your application for the Premier Rewards Gold Card has been approved. We hope you’ll enjoy the benefits of Card Membership.

Welcome to AMEX!!

Re: Amex Approval odds

efranklin23 — Fri, 16 May 2014 22:11:16 GMT

@Anonymous wrote:
@BigBS wrote:
Congrats! Definitely take advantage of the opportunity and go for one of the revolvers.
Would you please explain the overall benefit of going for both a revolver and a charge card? Is it just to capitalize on the potential opportunity to get two different cards from one hard inquiry?

For example, I'm considering applying for the EveryDay Preferred card. Which charge card should I consider applying for as well, and why?

Thanks in advance!

* EDIT * - - To further flesh this out: I would not be able to hit the $30k spend to get the 15k bonus points available through the AmEx PRG, and I don't see the point of the AmEx Green Card. My initial plan had been to apply for the EveryDay Preferred card, then to go for the Chase Sapphire Preffered.

base on your preference of spending, I would say stick to the Everyday Preferred Card if you don't spend alot on CCs a year. I never recommend charge cards as they usually come with an annual fee and it would take a alot of spending the offset the AF.

Re: Amex Approval odds

Anonymous — Sun, 18 May 2014 21:53:53 GMT

@efranklin23 wrote:
@Anonymous wrote:
@BigBS wrote:
Congrats! Definitely take advantage of the opportunity and go for one of the revolvers.
Would you please explain the overall benefit of going for both a revolver and a charge card? Is it just to capitalize on the potential opportunity to get two different cards from one hard inquiry?

For example, I'm considering applying for the EveryDay Preferred card. Which charge card should I consider applying for as well, and why?

Thanks in advance!

* EDIT * - - To further flesh this out: I would not be able to hit the $30k spend to get the 15k bonus points available through the AmEx PRG, and I don't see the point of the AmEx Green Card. My initial plan had been to apply for the EveryDay Preferred card, then to go for the Chase Sapphire Preffered.

base on your preference of spending, I would say stick to the Everyday Preferred Card if you don't spend alot on CCs a year. I never recommend charge cards as they usually come with an annual fee and it would take a alot of spending the offset the AF.

Thanks for your response.

Yeah, based on my anticipated spending, what you're saying makes sense to me. The benefits of the EveryDay Preferred card make more sense to me than those of the PRG, especially given that I wouldn't hit the $30k annual spend on the PRG to get those bonus points.