topic Re: Should I take the plunge in Credit Card Applications

Should I take the plunge

Anonymous — Mon, 20 Feb 2017 02:38:17 GMT

I have a EX 640 FICO .. no collections .. 2 paid baddies .. work for LockHeed Martin w/ 79K annual income.. any luck??

Re: Should I take the plunge

dragontears — Mon, 20 Feb 2017 02:52:23 GMT

What are you looking to jump into? Not every cc pulls EX.....

Re: Should I take the plunge

Anonymous — Mon, 20 Feb 2017 03:13:38 GMT

I would like to get Amex. Scores elsewhere are 700 plus.. experian is the only one lagging behind with 640 FICO 8 .. or I guess I'm also asking, what Amex would be the easiest for me to be approved for?

Re: Should I take the plunge

creditguy — Mon, 20 Feb 2017 05:54:06 GMT

@Anonymous wrote:
I would like to get Amex. Scores elsewhere are 700 plus.. experian is the only one lagging behind with 640 FICO 8 .. or I guess I'm also asking, what Amex would be the easiest for me to be approved for?

The real question should be: What Amex do you want? and what card would benefit you most? Never apply for a card based on its preceived ease of approval. For your score a charge card from Amex would be the easiest to be approved for if scores were the only factor, but you would end up with a card with an AF that may not fit your needs. I'd work on getting your scores up and applying for a card you really want, that way you increase your odds of approval and a better SL.

Re: Should I take the plunge

Anonymous — Mon, 20 Feb 2017 06:39:19 GMT

@Anonymous wrote:
I would like to get Amex. Scores elsewhere are 700 plus.. experian is the only one lagging behind with 640 FICO 8 .. or I guess I'm also asking, what Amex would be the easiest for me to be approved for?

Amex pretty universally pulls EX, so they would probably be the hardest to get approved for - assuming your EQ and TU are 700+, while EX is clear down at 640.

Why is it so much lower? 700ish will get you approved for most cards, assuming clean reports but a 640 is kind of down in no-man's land.

Re: Should I take the plunge

Anonymous — Mon, 20 Feb 2017 13:03:05 GMT

I can say 640 is the very low end for Amex but back when I got my BCE I had a 643 and 3 CO's showing. Only a 1k limit tho.

If you do get approved it would be a low limit card and then the 3X CLI thing has had reports of not working on SLs lower than 2k

Re: Should I take the plunge

Anonymous — Mon, 20 Feb 2017 13:03:41 GMT

I would check out CB Database and make your decision based on that. GL. (keep us posted)

Re: Should I take the plunge

Anonymous — Mon, 20 Feb 2017 13:58:36 GMT

Good luck!

Re: Should I take the plunge

ls2016 — Tue, 21 Feb 2017 00:08:39 GMT

OP, I was approved for the Amex ED card with a 646 EX score with conditions: No bonus. SL $500, make on-time payments for 5 statements, then receive increase. 13 baddies on report to include late payments as recent as 9 months ago and paid collections, $50,000 annual income. Didn't need the card, just applied due to all the hype ( I know: not a good reason to app). Util 2%, total credit limits: $45,000 (ranging from SL of $500-$15,000). 13 inquires on Ex. As you can see, I barely got in. Care less about low limits as I barely use any of my cards, have them to build credit and not necessarily for everyday usage. Have a mixture of prime, sub-prime, and store cards. So, good luck in applying and although I didn't wait, I'll encourage you too!

Re: Should I take the plunge

Anonymous — Wed, 22 Feb 2017 05:55:08 GMT

I DID IT!!!!

i was approved for the Amex PRG & the silver everyday card at the same time!!! EX at the time was 679.. 2 paid CO's .. 3 secured cards. Thanks everyone!!!

Re: Should I take the plunge

Anonymous — Wed, 22 Feb 2017 07:51:13 GMT

This is not meant to discourage or encourage you. YMMV. I say take the plunge.

The only way you'll find out is when you hit the submit button. AMEX is my first major card after Credit One and 1st Premier. Got the Delta Platinum with EX 628 then the Delta Reserve with EX 615. About 9 collections, tax lien, AAoA < 1 yr. No charge off, Ch 13 in 2005 no longer showing. Only other card is Wells Fargo Secured Card besides the Credit One and First Premier.

Good luck !!!

Re: Should I take the plunge

Anonymous — Wed, 22 Feb 2017 09:57:08 GMT

Congrats Perry. Take care of them and they will grow nicely. Be sure to read about the 3X CLi for your ED card. (I think that's what you meant by silver card)

What were your limits? Were they both instant?