topic Re: Going for Gold and Platinum - My Next Steps? in Credit Card Applications

Going for Gold and Platinum - My Next Steps?

Anonymous — Mon, 27 Jul 2020 15:21:30 GMT

Hi all!

I have been lurking through the forums for a while now to learn a bit about the AMEX Gold and Platinum cards and wanted to get some input on my specific situation to see if I have a good chance at qualifying. I have a lot of the typical cards recommended here and am ready to move onto something new, especially now that I travel up to 75% of the year with my new job.

My current cards and limits are:

- NFCU cashRewards - $5500

- NFCU MoreRewards AMEX - $500

- Apple Card - $1,000

- USAA Platinum - $6,500

- Capital One Quicksilver -$300

- Discover IT -$1,000

- Scheels Visa - $1,000

- Synchrony Amazon - $100 (was $1,000, never used it since opening 4 years ago)

- Synchrony Care Credit - $3,000

- Best Buy non-MC - $3,000

I currently have 7 inquiries on my report with 4 falling off in December. My average age of credit is just under 4 years and my FICO 8 scores sit at EQ 603, TU 613 and EX 648. This is mostly due to carrying a balance for a long time, averaging about 90% utilization overall. I am happy to say that, after today, all of my credit cards will be paid in full for the first time in 5 years and I never plan to make the same mistake ever again! I do not have any major deliquincies, bankruptices, charge offs, collections etc so I feel like I might have a shot at these cards once the PIF balances show up on my credit. What do you guys think? Any recommendations for another credit card? I don't mind paying AFs as long as I get something out of it, so I'm also considering the CSR or CSP!

Thanks all!

Re: Going for Gold and Platinum - My Next Steps?

addicted_to_credit — Mon, 27 Jul 2020 16:01:41 GMT

1. Put a 5 dollar charge on one card before posting time... you get a score ding for having all cards reporting zero balances - even though you'll most likely see a rise anyway. Maximize your score!

2. IMHO AMEX has some great cards and they're an awesome bank BUT they can be fickle. I also think that other banks have travel cards with a good rewards structure at far less expensive AF's. At the end of the day though you have to pay them and if it's what you want and it'll fit your spend then go for it, you should have a decent shot at it once your balances update with all 3 CB's.

Re: Going for Gold and Platinum - My Next Steps?

Girlzilla88 — Mon, 27 Jul 2020 20:12:10 GMT

To piggyback if you do put a charge on a card be sure it's a bank issued card to effectively use AZ method

Re: Going for Gold and Platinum - My Next Steps?

Girlzilla88 — Mon, 27 Jul 2020 20:23:22 GMT

@Anonymous Have you tried the Amex prequal page?! Yes they are being a stickler but that's nothing new really everyone is with everything going on lol

Re: Going for Gold and Platinum - My Next Steps?

mrcraft — Mon, 27 Jul 2020 20:30:22 GMT

I think if your scores increase to the 680-ish range after your payments post then you might be able to secure an approval for an Amex charge card. They have a pre-qualify page which is pretty good that you can guage your chances before applying. Very nice to hear that you paid off your cards. Good luck!

Re: Going for Gold and Platinum - My Next Steps?

M_Smart007 — Mon, 27 Jul 2020 21:48:10 GMT

Congrats on paying your cards off!

Good Luck on The Amex App's ..

Re: Going for Gold and Platinum - My Next Steps?

Anonymous — Mon, 27 Jul 2020 21:50:51 GMT

@Anonymous wrote:
I currently have 7 inquiries on my report with 4 falling off in December. My average age of credit is just under 4 years and my FICO 8 scores sit at EQ 603, TU 613 and EX 648. This is mostly due to carrying a balance for a long time, averaging about 90% utilization overall. I am happy to say that, after today, all of my credit cards will be paid in full for the first time in 5 years and I never plan to make the same mistake ever again! I do not have any major deliquincies, bankruptices, charge offs, collections etc so I feel like I might have a shot at these cards once the PIF balances show up on my credit. What do you guys think? Any recommendations for another credit card? I don't mind paying AFs as long as I get something out of it, so I'm also considering the CSR or CSP!

Sounds like a solid credit history and once the utilization drops your score will shoot up. All my apps have been over 750 FICO but I'm sure you can apply below that, utilize pre-qual tools as others have mentioned. I have CSR/Plat/Gold and they each have different uses: CSR is my primary use card while I'm traveling, Gold is a big points earner for groceries, Platinum is interesting because I really only use it for airline tickets (Priority Pass/PreCheck is also on CSR).

Whatever you choose, remember that interest and fees are the enemy of rewards!

Re: Going for Gold and Platinum - My Next Steps?

KLEXH25 — Mon, 27 Jul 2020 21:58:07 GMT

Congratulations on paying off your cards! Look forward to seeing where your scores end up.

Out of curiosity, how many cards have you opened in the last 6 months? 12 months? 24 months? This will help us figure out if Amex or Chase are options.

Re: Going for Gold and Platinum - My Next Steps?

lhcole77 — Tue, 28 Jul 2020 05:05:55 GMT

@Anonymous wrote:
Hi all!
I have been lurking through the forums for a while now to learn a bit about the AMEX Gold and Platinum cards and wanted to get some input on my specific situation to see if I have a good chance at qualifying. I have a lot of the typical cards recommended here and am ready to move onto something new, especially now that I travel up to 75% of the year with my new job.
My current cards and limits are:
- NFCU cashRewards - $5500
- NFCU MoreRewards AMEX - $500
- Apple Card - $1,000
- USAA Platinum - $6,500
- Capital One Quicksilver -$300
- Discover IT -$1,000
- Scheels Visa - $1,000
- Synchrony Amazon - $100 (was $1,000, never used it since opening 4 years ago)
- Synchrony Care Credit - $3,000
- Best Buy non-MC - $3,000

I currently have 7 inquiries on my report with 4 falling off in December. My average age of credit is just under 4 years and my FICO 8 scores sit at EQ 603, TU 613 and EX 648. This is mostly due to carrying a balance for a long time, averaging about 90% utilization overall. I am happy to say that, after today, all of my credit cards will be paid in full for the first time in 5 years and I never plan to make the same mistake ever again! I do not have any major deliquincies, bankruptices, charge offs, collections etc so I feel like I might have a shot at these cards once the PIF balances show up on my credit. What do you guys think? Any recommendations for another credit card? I don't mind paying AFs as long as I get something out of it, so I'm also considering the CSR or CSP!

Thanks all!

Will your 75% work travel include flights, ability to visit lounges at airports during layovers or before your board, Uber rides, car rentals, and the like? If so, the Plat is a great card.

Normally I would not recommend anyone apply for this card during a pandemic. But if your travel is a for sure thing, it could net you fun gains.

I would wait until you're at least a 700 before considering an app.

Re: Going for Gold and Platinum - My Next Steps?

Anonymous — Tue, 28 Jul 2020 06:05:07 GMT

Yes, all travel is out of state and, in many cases, overseas. I would definitely use lounges, TSA precheck, rideshare services, etc. My travel is usually 3-12 months at a time, all of which I spend with a rental car, a hotel and daily per diem for food. It's extremely busy work but its very rewarding, especially since we get to keep the Sky Miles,, Marriott and Avis loyalty points to ourselves

To answer the questions about opened cards, I've had two opened in the last 6 months and one in 2019. All of my other cards were opened between 2014 and 2017. I don't mind using Chase and AMEX together, I'm not too worried about annual fees as I'd most certainly get my money's worth out of them! I think I'd stick to the CSR, AMEX Platinum and AMEX Gold.

Re: Going for Gold and Platinum - My Next Steps?

addicted_to_credit — Tue, 28 Jul 2020 06:02:32 GMT

Have you tried the pre qualify tool Amex has?

Re: Going for Gold and Platinum - My Next Steps?

Anonymous — Tue, 28 Jul 2020 06:06:55 GMT

I did recently, no pre-qualified offers yet. I'm assuming its because my paid off cards haven't fully reported yet. My last card reports on the 20th of August, so ill probably check a few days after!

Re: Going for Gold and Platinum - My Next Steps?

addicted_to_credit — Tue, 28 Jul 2020 06:10:29 GMT

Gotcha, I think you have a good shot at getting it once everything settles, I've seen recent approvals with fairly dirty profiles so you should have it in the bag.