topic Re: Which Amex card should I apply for? in Credit Card Applications

Which Amex card should I apply for?

Anonymous — Mon, 15 May 2017 09:40:31 GMT

Greetings, I'm rebuliding my credit I was recently approved for an secured mastercard from Citi Bank($200 limit) and a Nordstrom Card for($500)!

My scores are Equifax 538, Transunion 597 , Experian 602.

With an income of $42000 which card should I apply for?

Re: Which Amex card should I apply for?

Anonymous — Mon, 15 May 2017 11:27:38 GMT

You shouldn't be looking at Amex with those scores. Let the new accounts grow a bit on your credit first so those scores come up. What else is on your credit report keeping those scores so low? Charge offs? Judgements? Lates? Etc.

Re: Which Amex card should I apply for?

Anonymous — Mon, 15 May 2017 13:01:05 GMT

Re: Which Amex card should I apply for?

Anonymous — Mon, 15 May 2017 13:40:11 GMT

There is more to things than just your score, but having said that yours does look too low for Amex.

To give you a target number, 650 EX is about the lowest you will see approvals for here, although I have seen a few approvals with slightly lower scores. 660 and up will give you a much better chance of getting an Amex approval

Re: Which Amex card should I apply for?

Anonymous — Mon, 15 May 2017 13:45:03 GMT

@Anonymous wrote:
There is more to things than just your score, but having said that yours does look too low for Amex.
To give you a target number, 650 EX is about the lowest you will see approvals for here, although I have seen a few approvals with slightly lower scores. 660 and up will give you a much better chance of getting an Amex approval

+1...I would even say 670....

Re: Which Amex card should I apply for?

AverageJoesCredit — Mon, 15 May 2017 14:04:47 GMT

I have been seeing lower still, 630+ but definitly try to optimize your postion by getting it as high as you can

Your income is good so thatll help down the road. Definitely let us know whats holding back your scores you just might get more pointed advice.

Re: Which Amex card should I apply for?

Anonymous — Mon, 15 May 2017 17:12:18 GMT

Amex has lowered their minimum scores without a doubt over the last year, probably in response to losing Costco but they are offering very low limits to those under 660 or so. Your scores are simply too low to get qualified with AMEX. I wouldn't apply for anything with anyone right now, my biggest regret during my rebuild was applying for cards that were a stretch and wasting HP's which held me back a bit. I would wait till you have Experian scores in the mid to upper 600's for AMEX. I would work on a rebuild and address the factors that are holding your scores down so when you do apply you get some nice limits and don't get denials.

Income won't outweigh weak scores, I know this from personal experience 200k of income low debt but crappy scores when I began my rebuild and struggled early on to get a 1k limit. Using the advice of the good folks here in the rebuilding section and within 6 months or so things totally turned around.

Re: Which Amex card should I apply for?

Anonymous — Tue, 16 May 2017 01:41:25 GMT

I would definitely wait and age your current cards. Plus with the low scores my guess is you would be denied.

If you do decide to app let us know what happens!

Re: Which Amex card should I apply for?

Anonymous — Tue, 16 May 2017 02:02:02 GMT

Try to get cap one qs1 and eventually upgrade it to a regular qs.

Re: Which Amex card should I apply for?

Anonymous — Tue, 16 May 2017 02:03:33 GMT

One word.

Don't.

Re: Which Amex card should I apply for?

Anonymous — Tue, 16 May 2017 02:17:23 GMT

You should not apply to AMEX you will most likely get denied.

You should get another secure card too that will graduate and grow. I would recommend the below secured cards that can grduate and grow nicely.

NFCU (If you can get in)

Disocver

BofA

Re: Which Amex card should I apply for?

Anonymous — Tue, 16 May 2017 03:00:50 GMT

I was recently approved for the Delta card with as 619 EX FICO but as everyone said, I would wait it out a little until your scores are above 650 to improve your chances. Good luck!

Re: Which Amex card should I apply for?

Anonymous — Wed, 24 May 2017 03:59:49 GMT

In May 2015 I was struck by a car and was out of work for 6 months. I got behind on my credit card bills my scores dropped and I got hit with Charge Offs