topic Re: Should I go for it? AMEX with a BR? in Credit Card Applications

Should I go for it? AMEX with a BR?

Broke_Triathlete — Sat, 30 Dec 2017 19:05:40 GMT

Hey guys. It's been a long road since BR but I'm close to getting in my "dream" creditor so-to-speak.... AMEX. I've read thread after thread that they have a "5 year rule" which basically states that 5 years +1 month of FILING you should be good to go. I called them and spoke to a few different people and they said they haven't heard of such a thing.

I filed in 12 of 12' and DC 3 of 13' so that means in a few days I should be able to apply, correct?

My EX is 739 as of today and the only negative on my entire report (other than BR) is 1 late payment on a student loan before I filed BR. Reports are squeaky clean otherwise. I have several large $27K+ limits with the other 3 (Visa/MC/Disco). My utilization is 2% and all I have left debt wise to my name are student loans. Originally $120K down to $17K. I haven't applied for credit in over 2 years.

I unfroze my EX to run their prequal and nothing came up. I also tried Cap 1 and nothing. Cap 1 had a message box pop up and suggested maybe I elected out of credit card offers, which I believe I did do several years ago. So I'm assuming that's why nothing is popping up on prequal.

What do you guys think? I don't want to jump the gun on the 5 year deal by not waiting a few more months until my discharge date, if that's the case.

Re: Should I go for it? AMEX with a BR?

Anonymous — Sat, 30 Dec 2017 19:20:06 GMT

You should be okay.

Besides, I believe AMEX only soft pulls for declines.
You might get a 30 or 7-10 day message, call recon and hope for the best.

Your score is good and you have high limits on your cards, AMEX likes that.

Are you prequalified for any of their cards?

Re: Should I go for it? AMEX with a BR?

Broke_Triathlete — Sat, 30 Dec 2017 20:02:17 GMT

@Anonymous wrote:
You should be okay.

Besides, I believe AMEX only soft pulls for declines.
You might get a 30 or 7-10 day message, call recon and hope for the best.

Your score is good and you have high limits on your cards, AMEX likes that.

Are you prequalified for any of their cards?

Thanks for the reply. I'm not prequaled for any cards, period. Regardless of company. That's why I'm thinking it has to do with the opt out I think I did a few years ago.

Hmm, that'd be great if they only softed for a denial. Any links to that?

Re: Should I go for it? AMEX with a BR?

Anonymous — Sat, 30 Dec 2017 22:04:28 GMT

You should be good wth Amex come January, assuming you haven't burned them in the past. If you opted out, you won't get any preapprovals. Go for it in January and let us know the outcome.

Re: Should I go for it? AMEX with a BR?

Shadowfactor — Sat, 30 Dec 2017 22:14:29 GMT

Amex only soft pulls for denials if you have an existing card with them. That’s not set in stone either.

From what I’ve seen on here, Amex will know if your blacklisted because of bankruptcies and won’t process the application.

Any new account application will certainly result in a hard pull of your credit

Re: Should I go for it? AMEX with a BR?

expatCanuck — Sat, 30 Dec 2017 22:36:03 GMT

@Broke_Triathlete wrote:
Thanks for the reply. I'm not prequaled for any cards, period. Regardless of company. That's why I'm thinking it has to do with the opt out I think I did a few years ago.

Exactly right. I opted out earlier this year, and no offers come up when I check for a prequal -- but I've been successful in all of my recent apps (tho' one required a recon). I don't know whether the site allows you to opt back in, but the URL is www.optoutprescreen.com.

Re: Should I go for it? AMEX with a BR?

Broke_Triathlete — Sat, 30 Dec 2017 23:43:30 GMT

I forgot to add that I have NOT burned AMEX before. I've never had a card with them.

So would Jan 2nd be ok or should I wait until the end of the month or??

Re: Should I go for it? AMEX with a BR?

Anonymous — Sat, 30 Dec 2017 23:47:53 GMT

I can say from experience (month after month) that if you are on the Amex blacklist and you app, they won’t hit you with a HP. You’ll get an instant decline and when you try to look up app status it won’t find your app. If you aren’t on the blacklist and you get declined, you will get a HP. Your stats are pretty solid so if you aren’t on the blacklist you’ll probably get an approval. Good luck!

Re: Should I go for it? AMEX with a BR?

RicHowe — Sun, 31 Dec 2017 00:46:00 GMT

@Broke_Triathlete wrote:
Hey guys. It's been a long road since BR but I'm close to getting in my "dream" creditor so-to-speak.... AMEX. I've read thread after thread that they have a "5 year rule" which basically states that 5 years +1 month of FILING you should be good to go. I called them and spoke to a few different people and they said they haven't heard of such a thing.

I filed in 12 of 12' and DC 3 of 13' so that means in a few days I should be able to apply, correct?

My EX is 739 as of today and the only negative on my entire report (other than BR) is 1 late payment on a student loan before I filed BR. Reports are squeaky clean otherwise. I have several large $27K+ limits with the other 3 (Visa/MC/Disco). My utilization is 2% and all I have left debt wise to my name are student loans. Originally $120K down to $17K. I haven't applied for credit in over 2 years.

I unfroze my EX to run their prequal and nothing came up. I also tried Cap 1 and nothing. Cap 1 had a message box pop up and suggested maybe I elected out of credit card offers, which I believe I did do several years ago. So I'm assuming that's why nothing is popping up on prequal.

What do you guys think? I don't want to jump the gun on the 5 year deal by not waiting a few more months until my discharge date, if that's the case.

The 5 year clock starts from date of discharge (March 3, 2013) or the date the BK was added to your credit report. I would wait until April 15th to be safe. Then you will be right as rain to become an AMEX clubhouse member. Otherwise your stats are solid. Welcome to the club!

EDIT: Apparently, this is wrong information that I have. See responses below.

Re: Should I go for it? AMEX with a BR?

RicHowe — Sun, 31 Dec 2017 00:20:06 GMT

@Broke_Triathlete wrote:
Hey guys. It's been a long road since BR but I'm close to getting in my "dream" creditor so-to-speak.... AMEX. I've read thread after thread that they have a "5 year rule" which basically states that 5 years +1 month of FILING you should be good to go. I called them and spoke to a few different people and they said they haven't heard of such a thing.

I filed in 12 of 12' and DC 3 of 13' so that means in a few days I should be able to apply, correct?

My EX is 739 as of today and the only negative on my entire report (other than BR) is 1 late payment on a student loan before I filed BR. Reports are squeaky clean otherwise. I have several large $27K+ limits with the other 3 (Visa/MC/Disco). My utilization is 2% and all I have left debt wise to my name are student loans. Originally $120K down to $17K. I haven't applied for credit in over 2 years.

I unfroze my EX to run their prequal and nothing came up. I also tried Cap 1 and nothing. Cap 1 had a message box pop up and suggested maybe I elected out of credit card offers, which I believe I did do several years ago. So I'm assuming that's why nothing is popping up on prequal.

What do you guys think? I don't want to jump the gun on the 5 year deal by not waiting a few more months until my discharge date, if that's the case.

This is EXACTLY why you cannot see any pre-qualified offers on any site.

https://www.optoutprescreen.com/opt_form.cgi

Select Opt in and fill out your information. It takes 5 days for them to notify the CRAs, but it will be around a month to 45 days before you'll be able to see offers (from my experience opting back in).

Re: Should I go for it? AMEX with a BR?

Anonymous — Sun, 31 Dec 2017 00:21:52 GMT

@RicHowe wrote:
@Broke_Triathlete wrote:
Hey guys. It's been a long road since BR but I'm close to getting in my "dream" creditor so-to-speak.... AMEX. I've read thread after thread that they have a "5 year rule" which basically states that 5 years +1 month of FILING you should be good to go. I called them and spoke to a few different people and they said they haven't heard of such a thing.

I filed in 12 of 12' and DC 3 of 13' so that means in a few days I should be able to apply, correct?

My EX is 739 as of today and the only negative on my entire report (other than BR) is 1 late payment on a student loan before I filed BR. Reports are squeaky clean otherwise. I have several large $27K+ limits with the other 3 (Visa/MC/Disco). My utilization is 2% and all I have left debt wise to my name are student loans. Originally $120K down to $17K. I haven't applied for credit in over 2 years.

I unfroze my EX to run their prequal and nothing came up. I also tried Cap 1 and nothing. Cap 1 had a message box pop up and suggested maybe I elected out of credit card offers, which I believe I did do several years ago. So I'm assuming that's why nothing is popping up on prequal.

What do you guys think? I don't want to jump the gun on the 5 year deal by not waiting a few more months until my discharge date, if that's the case.

The 5 year clock starts from date of discharge (March 3, 2013) or the date the BK was added to your credit report. I would wait until April 15th to be safe. Then you will be right as rain to become an AMEX clubhouse member. Otherwise your stats are solid. Welcome to the club!

That's not correct, the 5 year clock starts from the filed date, not discharge date for Amex. NFCU is the only one I know of that goes by discharged date.

January 2 should be fine to apply.

Re: Should I go for it? AMEX with a BR?

Broke_Triathlete — Sun, 31 Dec 2017 00:39:41 GMT

I've also been told it's from file date. I hope that's the case so I'm not wasting an INQ

Re: Should I go for it? AMEX with a BR?

Broke_Triathlete — Sun, 31 Dec 2017 00:41:19 GMT

Just pulled this from my experian tracker deal.

Re: Should I go for it? AMEX with a BR?

RicHowe — Sun, 31 Dec 2017 00:48:03 GMT

@Anonymous wrote:
@RicHowe wrote:
@Broke_Triathlete wrote:
Hey guys. It's been a long road since BR but I'm close to getting in my "dream" creditor so-to-speak.... AMEX. I've read thread after thread that they have a "5 year rule" which basically states that 5 years +1 month of FILING you should be good to go. I called them and spoke to a few different people and they said they haven't heard of such a thing.

I filed in 12 of 12' and DC 3 of 13' so that means in a few days I should be able to apply, correct?

My EX is 739 as of today and the only negative on my entire report (other than BR) is 1 late payment on a student loan before I filed BR. Reports are squeaky clean otherwise. I have several large $27K+ limits with the other 3 (Visa/MC/Disco). My utilization is 2% and all I have left debt wise to my name are student loans. Originally $120K down to $17K. I haven't applied for credit in over 2 years.

I unfroze my EX to run their prequal and nothing came up. I also tried Cap 1 and nothing. Cap 1 had a message box pop up and suggested maybe I elected out of credit card offers, which I believe I did do several years ago. So I'm assuming that's why nothing is popping up on prequal.

What do you guys think? I don't want to jump the gun on the 5 year deal by not waiting a few more months until my discharge date, if that's the case.

The 5 year clock starts from date of discharge (March 3, 2013) or the date the BK was added to your credit report. I would wait until April 15th to be safe. Then you will be right as rain to become an AMEX clubhouse member. Otherwise your stats are solid. Welcome to the club!
That's not correct, the 5 year clock starts from the filed date, not discharge date for Amex. NFCU is the only one I know of that goes by discharged date.

January 2 should be fine to apply.

I stand corrected. At any rate, if you are declined because of the BK you will know how much time until you can app. Good luck and post back with your result!

Re: Should I go for it? AMEX with a BR?

Anonymous — Sun, 31 Dec 2017 00:46:01 GMT

Well, no one can guarantee you an approval so you have to be willing to waste an inq to find out. It's just that many have reported being approved 5 years post filed date with a BK, so your odds seem good.

Re: Should I go for it? AMEX with a BR?

Broke_Triathlete — Mon, 01 Jan 2018 01:00:12 GMT

@Anonymous wrote:
Well, no one can guarantee you an approval so you have to be willing to waste an inq to find out. It's just that many have reported being approved 5 years post filed date with a BK, so your odds seem good.

I know I no one can guarantee me an approval and I know I have to use a HP either way. What I'm trying to avoid is "waste" an inq at 5 years post filing if it's 5 years post DC.

What card do you think I should app for? I've been out of the game for a bit. I currently have:

C1 QS

Disco

Barclay MC Rewards

2 credit union cards

Re: Should I go for it? AMEX with a BR?

Anonymous — Mon, 01 Jan 2018 01:05:42 GMT

@Broke_Triathlete wrote:
@Anonymous wrote:
Well, no one can guarantee you an approval so you have to be willing to waste an inq to find out. It's just that many have reported being approved 5 years post filed date with a BK, so your odds seem good.
I know I no one can guarantee me an approval and I know I have to use a HP either way. What I'm trying to avoid is "waste" an inq at 5 years post filing if it's 5 years post DC.

What card do you think I should app for? I've been out of the game for a bit. I currently have:

C1 QS
Disco
Barclay MC Rewards
2 credit union cards

There are a couple threads on the Credit Approval board of ones getting approved for the BCE, so that may be a good one to try for:

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Amex-BCE-Approved-5-Yr-1-Mo-Post-BK-7/td-p/5124381

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Approved-for-Amex-BCR-with-BK7/td-p/5124287

Re: Should I go for it? AMEX with a BR?

Broke_Triathlete — Mon, 01 Jan 2018 01:12:38 GMT

Thank you for those

Re: Should I go for it? AMEX with a BR?

Broke_Triathlete — Tue, 02 Jan 2018 13:23:43 GMT

Approved. $20K for both business and personal

Re: Should I go for it? AMEX with a BR?

Anonymous — Tue, 02 Jan 2018 14:38:33 GMT

Congratulations on pulling the trigger for AMEX! That is an OUTSTANDING SL! Hopefully in about 61 or so days, ask for a CLI and you just might get the 3X CLI. I dont know if that still applies with SL of $20k or higher, others may help on this. If they dont give the 3x CLI, counter offer them to at least $33- 35k.