topic Re: GOOD STARTER CARD FOR AMEX in Credit Card Applications

GOOD STARTER CARD FOR AMEX

Anonymous — Sat, 17 Aug 2019 18:35:16 GMT

Hello Myfico, New to the forum. First Post. I have been reading here faithfully for weeks now in my credit growing process. Ive been doin heavy research on how to get my foot in the door with amex just to build a relationship and maybe PC later or app for a new card. In the past 2 mths Ive app for the delta gold in July and was denied for too many inquiries. Called in to app and was advised for the the blue cash everyday and was denied for low Fico of 669. No pre approvals online so decided to cold app. Inquiries are building up which would suggest gardening for awhile and Im ok with that but still would like more info about amex. My ultilization is 22%

Score for Fico are:

Eq= 673

Trans= 725

Ex= 669

Inquires in last 12mths

Eq= 15

Trans= 12

Ex= 17

Accounts in Last 24mth= 19 6mths= 8

Car Loan= 1

Installment Loans= 5

CC= 10, 1 sececured(opensky)(which is my oldest of 2 yrs) 2 A

Re: GOOD STARTER CARD FOR AMEX

Brian_Earl_Spilner — Sat, 17 Aug 2019 20:32:21 GMT

You've opened way too many accounts in the last 2 years. You basically opened a new account every 19 days. I'm actually surprised lenders hadn't cut you off sooner. You should garden for at least a year. What info do you want about Amex?

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sat, 17 Aug 2019 20:57:00 GMT

Makes since when you put it that way.........I had mini app sprees here and there but i guess that why amex told me no twice in 2 mths. Ive been doin some research on the the less stricter cards to get with amex. I came across a few posts saying that BLUE from amex was a typical starter card and easier card to obtain but I was gonna garden for at least 6 mths and go for cli in that time. I just got in with nfcu last mth so I was gonna try for a cli or a new card after 3 statements

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sat, 17 Aug 2019 21:13:38 GMT

Their charge cards would be on the "less stricter" side, because you would have to pay the entire statement balance in full by the due date each month, as (without pay over time) there is no revolving limit so you are expected to only spend what you can pay right away. They do come with annual fee and earn Membership Rewards points. Their credit cards may be stricter than charge cards but aren't too difficult to get actually. You can look at what type(s) of reward and benefits you want, as well as if you frequently travel with some of their airline/hotel partners.

But still, you should probably wait until most of your accounts are at least 1--2 years old and most inquiries age, and refrain from applying for anything in the near future.

Re: GOOD STARTER CARD FOR AMEX

Brian_Earl_Spilner — Sat, 17 Aug 2019 21:37:13 GMT

The co-branded cards like the Delta and Hilton are the easiest to get, requiring at least a 631 EX from all the data points I found. If you can't get one of those, it's time to stop and re-evaluate your reports and fix what's stopping you from getting in. The next easiest to get are the charge cards with a low of 645 EX. The requirements are pretty much the same for all three. The core cards typically require at least 670 EX, but there are members here that have gotten them with scores around 650, but they have already established a relationship. The requirements are pretty standard across the cores but some people have found there is a difference between cash cards and MR earning cards. Basically, if you qualify for a cash card, you should qualify for all the cash cards. Same with MR cards.

Re: GOOD STARTER CARD FOR AMEX

MrCreditInternational — Sat, 17 Aug 2019 21:48:17 GMT

I was approved for the gold without even having a fico score. I think the gold card is probably your best bet especially if you're going to use it wisely (which is super easy)

Re: GOOD STARTER CARD FOR AMEX

Aim_High — Sat, 17 Aug 2019 21:59:37 GMT

@Brian_Earl_Spilner wrote:
You've opened way too many accounts in the last 2 years. You basically opened a new account every 19 days.

Yes. If anything, that was an understatement.

I was literally jaw-dropping at your activity ...

Inquires in last 12mths: 15/12/17

New Accounts in Last 24mth= 19; 6mths= 8

*Including 10 credit cards; 5 Installment Loans

Remember that credit is a marathon, not a sprint.

That kind of activity makes lenders nervous about your intentions or question whether you can handle such huge changes so quickly. Relax, pace yourself. Worse case scenario, if you were to keep that up, not only could you get denied but your other lenders may notice and start AA against other accounts by reducing credit lines, closing accounts, raising APRs, etc. Frantic credit-seeking makes you stand out and get unwanted attention.

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sat, 17 Aug 2019 22:08:33 GMT

I must say Im guilty of falling in the credit game and trying to maximize my score whille they were over 680. Ive already made the decision to garden at least 6-7mths then apply for Cli on the cards with sp at least. Had a my wedding back in june so thats where most of the inquiries came from. thanks for the points, really appreciate it.

Re: GOOD STARTER CARD FOR AMEX

KJinNC — Wed, 28 Aug 2019 01:33:17 GMT

Your profile is going to be pretty alarming to any lender, but I won't judge because I've made some similar choices, just earlier in my process. Specifically, I approached getting an Amex like the credit card version of charging a machine gun nest. I applied over and over, stupidly, and then eventually got a Gold Card. The reason I was willing to try like that is that I already had severe credit-seeking behavior and a ton of inquiries, so I figured my profile was a wasteland for a while either way, and if I got the Amex, it would age with my other stuff. It would also allow SP applications for other Amex cards. It would not make sense for most situations, but it made sense to me, and it worked out (surprisingly). Now I've got a bronze spade (edit: not anymore! But, I do have a Delta Gold and Hilton Aspire.)

Only you can judge if your situation is similar in that regard. Either way, good luck!

Re: GOOD STARTER CARD FOR AMEX

Brian_Earl_Spilner — Sun, 18 Aug 2019 01:44:32 GMT

@Anonymous wrote:
I must say Im guilty of falling in the credit game and trying to maximize my score whille they were over 680. Ive already made the decision to garden at least 6-7mths then apply for Cli on the cards with sp at least. Had a my wedding back in june so thats where most of the inquiries came from. thanks for the points, really appreciate it.

It happened to me. That's why I'm gardening. I have so many inquiries now that I can't even get a CLI because of "credit seeking behavior". In October almost all of my inquiries will be unscorable, but I'll have another year before they fall off. Kind of ironic. I came here to improve my credit and went from 1 inquiry on all reports to 15-20 on each.

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sun, 18 Aug 2019 01:48:57 GMT

Thanks for the info KJinNC. I'm definitely hitting the garden at least till the summer then I'll try for the pre qualify but if I dont have any offers I'll access my scores and make a move.

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sun, 18 Aug 2019 02:09:15 GMT

@Brian_Earl_Spilner sounds like my inquiries right now.

Re: GOOD STARTER CARD FOR AMEX

CreditInspired — Sun, 18 Aug 2019 15:51:49 GMT

This feels like de-ja vu. So, to simplify matters so you don't have to ask about all the different CCs, the answer again is to just stop applying.

You are continuously wracking up inquiries, denials, and low SLs. This is affecting your AAOA. Please, please stop applying for credit if your goal is to build a thick positive credit profile. This is the way to get decent SLs.

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sun, 18 Aug 2019 16:57:14 GMT

Trey, are the 5 installment loans SSL's? Wondering also if you plan on keeping the OpenSky and Credit One at this point with the AFs and monthly fees? What was the last card you were approved for and when? Feels like with your profile you should be debriefed. The war is over son, step away from the submit button... Lol.

Re: GOOD STARTER CARD FOR AMEX

AverageJoesCredit — Sun, 18 Aug 2019 16:51:52 GMT

One that doesn't require AF

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sun, 18 Aug 2019 20:12:46 GMT

Hear you loud and clear @creditinspired. I already had it in my mind to hit the garden at least till the summer and even at that point, im only gonna go for cli with sp on my currents cards

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Sun, 18 Aug 2019 20:19:45 GMT

@silversmith, SSL?

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Mon, 19 Aug 2019 01:05:21 GMT

SSL = Share Secured Loan. Self Lender type of product. You can get them at most banks as well.

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Mon, 19 Aug 2019 01:15:46 GMT

3 of them are from my wedding funding in July 2019. I is from my bank but not secured(500) that should be paid in full by the 1st and the other 1 was a cosign for my brother that is also done in the next 2 mths

Re: GOOD STARTER CARD FOR AMEX

Anonymous — Wed, 28 Aug 2019 01:15:13 GMT

Does anyone if amex is new account sensitive?
Are there any guidelines to apply if you have 5/24, 90 day etc......?
When I tried the preapproval, my lowest score was 689 and came back with no offers.