topic Re: Amex starter (Odds?) in Credit Card Applications

Amex starter (Odds?)

jayjayhawaii — Sat, 08 Sep 2018 12:54:02 GMT

I'm currently eyeing the PayPal 2% MC, which I'll app for in 3 weeks when my util will be below 30% and my TU score should be past 700.

My ultimate goal for 2018 however is to get in with Amex - It would be an incredible feeling og accomplishment for someone whose Experian FICO was 455 two years ago. Experian is my dirty report, so I've got a little ways to go, but want to prep myself as best as I can before pulling the trigger. by December, my Experian report should look something like this:

660 (give or take) FICO8

Income: $80k

AAoA: 1 yr, 2 mo

Util: <9%

Inq last six: 0
Inq last year: 5

New accts last six: One if I get the PayPal

New last year: Six if I get the PayPal
Baddies: One 120+ (paid and closed, 2.5 yrs old), One paid disputed collection (1.5 years old)

Ultimately, I'd want the PRG or Delta Gold since I don't currently have any travel cards. I was shot down for Delta gold back in June when my Experian was 608. Anyone have any recommendations for which one to pull the trigger on? I see plenty members on this forum getting approved for Delta Gold around 640, but I also hear PRG might be easier since it's a charge card? Is BCE or green better as Amex entries?

Re: Amex starter (Odds?)

Brian_Earl_Spilner — Sat, 08 Sep 2018 13:05:58 GMT

The supposed easiest cards to get are the Delta gold or blue, green charge (though the prg is supposed to have the same underwriting), and the blue (not the blue cash).

I got approved for the PayPal the other day and my DPs are way worse than yours. I have a thread in approvals if you want to check it out.

Re: Amex starter (Odds?)

jayjayhawaii — Sat, 08 Sep 2018 13:42:17 GMT

@Brian_Earl_Spilner wrote:
The supposed easiest cards to get are the Delta gold or blue, green charge (though the prg is supposed to have the same underwriting), and the blue (not the blue cash).

I got approved for the PayPal the other day and my DPs are way worse than yours. I have a thread in approvals if you want to check it out.

Knock on wood, I'm feeling fairly confident with Synchrony as they were generous with CareCredit back in June. Mucho mahalo for the DPs, and congrats!

I'll need that confidence to pull the Amex lever.

Re: Amex starter (Odds?)

Brian_Earl_Spilner — Sat, 08 Sep 2018 14:17:15 GMT

@jayjayhawaii wrote:
@Brian_Earl_Spilner wrote:
The supposed easiest cards to get are the Delta gold or blue, green charge (though the prg is supposed to have the same underwriting), and the blue (not the blue cash).

I got approved for the PayPal the other day and my DPs are way worse than yours. I have a thread in approvals if you want to check it out.
Knock on wood, I'm feeling fairly confident with Synchrony as they were generous with CareCredit back in June. Mucho mahalo for the DPs, and congrats!

I'll need that confidence to pull the Amex lever.

I'm waiting until spring 2019 to try amex

Re: Amex starter (Odds?)

RicHowe — Sat, 08 Sep 2018 15:17:03 GMT

@jayjayhawaii wrote:
I'm currently eyeing the PayPal 2% MC, which I'll app for in 3 weeks when my util will be below 30% and my TU score should be past 700.

My ultimate goal for 2018 however is to get in with Amex - It would be an incredible feeling og accomplishment for someone whose Experian FICO was 455 two years ago. Experian is my dirty report, so I've got a little ways to go, but want to prep myself as best as I can before pulling the trigger. by December, my Experian report should look something like this:

660 (give or take) FICO8
Income: $80k
AAoA: 1 yr, 2 mo
Util: <9%
Inq last six: 1 (Your are apping for PayPal)
Inq last year: 6
New accts last six: One if I get the PayPal
New last year: Six if I get the PayPal
Baddies: One 120+ (paid and closed, 2.5 yrs old), One paid disputed collection (1.5 years old)

Ultimately, I'd want the PRG or Delta Gold since I don't currently have any travel cards. I was shot down for Delta gold back in June when my Experian was 608. Anyone have any recommendations for which one to pull the trigger on? I see plenty members on this forum getting approved for Delta Gold around 640, but I also hear PRG might be easier since it's a charge card? Is BCE or green better as Amex entries?

As always, YMMV, but with a 660ish score and low util and low inquiries you should be good for the Delta family of cards (Blue, Gold, Platinum). BCE is off the table for now as it's an AMEX core card and has slightly higher underwriting (you might get it under credit steps or a very low SL). If you are not comfortable with PIF, then getting a charge card (Green, PRG, Platinum) would not benefit you, plus having a new revolver will help your utilitization with the increase in total available credit.

Re: Amex starter (Odds?)

jayjayhawaii — Sat, 08 Sep 2018 17:17:27 GMT

Thank you for laying it out like that.

The Blue, Gold and Platinum have the same underwriting?

(The PayPal inq shouldn't show up on EX, Sync only pulls TU).

Re: Amex starter (Odds?)

MrDFinance — Sat, 08 Sep 2018 17:23:22 GMT

I got approved for my PRG when my Experian was around 660 .... This is after I burned them in 2008 on a charge off..... Now I not only have the card but also have a $25,000 Pay over time limit....

I suggest you go to thier website and check pre approvals..... I had "Excellent" Approval odds on Credit Karma and that made me check the pre approval and sure enough I was Pre Approved and Then Approved...

Re: Amex starter (Odds?)

FinStar — Sat, 08 Sep 2018 17:25:46 GMT

Another item to keep in mind is the AFs associated with any products you are considering plus doing the math and evaluate which one would be more fitting (not just which is easiest or getting "a foot in the door"). If you fly Delta with plenty of frequency, then look to see which Delta CC makes sense. Otherwise, you can consider the PRG if it meets your other goals, including the $100 travel/incidental credit, etc.

Re: Amex starter (Odds?)

FinStar — Sat, 08 Sep 2018 17:27:11 GMT

@jayjayhawaii wrote:
Thank you for laying it out like that.

The Blue, Gold and Platinum have the same underwriting?

(The PayPal inq shouldn't show up on EX, Sync only pulls TU).

SYNCB has been known to pull either TU or EX for the PayPal cards, YEMV.

Re: Amex starter (Odds?)

jayjayhawaii — Sat, 08 Sep 2018 17:28:15 GMT

@MrDFinance wrote:
I got approved for my PRG when my Experian was around 660 .... This is after I burned them in 2008 on a charge off..... Now I not only have the card but also have a $25,000 Pay over time limit....

I suggest you go to thier website and check pre approvals..... I had "Excellent" Approval odds on Credit Karma and that made me check the pre approval and sure enough I was Pre Approved and Then Approved...

Thanks for the input and DP. I have 'fair' approval odds on CK, but I'm only at 631 EX right now. No pre approvals on the Amex website yet. I'm currently prepping my TU for PayPal at the end of this month (just got the invite when logging in), and then I'll focus entirely on getting EX to 660 by December.

How do you get PoT on the charge cards?

Re: Amex starter (Odds?)

jayjayhawaii — Sat, 08 Sep 2018 17:42:48 GMT

@FinStar wrote:
Another item to keep in mind is the AFs associated with any products you are considering plus doing the math and evaluate which one would be more fitting (not just which is easiest or getting "a foot in the door"). If you fly Delta with plenty of frequency, then look to see which Delta CC makes sense. Otherwise, you can consider the PRG if it meets your other goals, including the $100 travel/incidental credit, etc.

Makes sense. I fly mostly Hawaiian or SkyTeam (Delta +), and Hawaiian only because when my credit score was in the dumpster, I could still earn miles with my Bank of Hawaii debit card. Their CC is issued by inq sensitive Barclay (and it sort of sucks anyway) so it's a no go.

Rewards wise, the PRG is a bit more appealing, but I work partly on commission, so being able to carry a balance once in a crappy month is a plus - Are the blue, gold and platinum all same underwriting? Out of 3 Sync cards I've apped for in the past, all 3 have been TU pulls, so I'm fairly certain PayPal will be as well. I think it has to do with location.

Re: Amex starter (Odds?)

MrDFinance — Sat, 08 Sep 2018 17:37:12 GMT

After 6 months with the card they gave me the option to enable it on my account .......

Not sure if they do that for everyone or for people that run a decent amount through the card...... I was using the card pretty regularly as I only had 3 other cards at the time....

**PayPal was a TU pull for me

Re: Amex starter (Odds?)

RicHowe — Sat, 08 Sep 2018 17:39:22 GMT

@jayjayhawaii wrote:
@MrDFinance wrote:
I got approved for my PRG when my Experian was around 660 .... This is after I burned them in 2008 on a charge off..... Now I not only have the card but also have a $25,000 Pay over time limit....

I suggest you go to thier website and check pre approvals..... I had "Excellent" Approval odds on Credit Karma and that made me check the pre approval and sure enough I was Pre Approved and Then Approved...
Thanks for the input and DP. I have 'fair' approval odds on CK, but I'm only at 631 EX right now. No pre approvals on the Amex website yet. I'm currently prepping my TU for PayPal at the end of this month (just got the invite when logging in), and then I'll focus entirely on getting EX to 660 by December.

How do you get PoT on the charge cards?

AMEX will notify you typically after 6 months to offer the chance to enroll your card in Pay Over Time (POT) on eligible transactions and will usually give you a POT limit (similar to a credit limit, but does not report to CRAs so it does not affect credit utilization). You can choose to enroll or not (I didn't).