topic Re: Amex ??? in Credit Card Applications

Amex ???

Eyisila — Sat, 21 Feb 2015 21:28:04 GMT

Not to sound bad or anything, and I apologize if it sounds that way, but I am a bit confused.

Has Amex lowered their standards, so to speak, for approval? I have seen a lot of recent (like within the past week) of people with scores around 640 getting approved for PRG, Delta, ED. Also it seems to vary with the types of files these people have. Some have high utilization, collections, charge-offs and so forth and some are "playing the game" well. Albeit they are for lower limits, but still, they are getting in.

I was just curious, maybe it's due to the fact that they lost Costco and JetBlue so they are trying to expand their customer base in other ways? Don't get me wrong I am very, VERY happy for these members, as it gives me hope (628 EX but utilization hasn't updated for this period) that I can get in fairly soon.

Just curious and would like to see/read you guys and gals opinions.

Re: Amex ???

ojefferyo — Sat, 21 Feb 2015 21:40:58 GMT

Personally I don't think they have changed, they aren't all the sudden going to take more risk of losing money just because their contract with costco will be coming to an end here.

Re: Amex ???

sjt — Sat, 21 Feb 2015 21:42:44 GMT

@Eyisila wrote:
Not to sound bad or anything, and I apologize if it sounds that way, but I am a bit confused.

Has Amex lowered their standards, so to speak, for approval? I have seen a lot of recent (like within the past week) of people with scores around 640 getting approved for PRG, Delta, ED. Also it seems to vary with the types of files these people have. Some have high utilization, collections, charge-offs and so forth and some are "playing the game" well. Albeit they are for lower limits, but still, they are getting in.

I was just curious, maybe it's due to the fact that they lost Costco and JetBlue so they are trying to expand their customer base in other ways? Don't get me wrong I am very, VERY happy for these members, as it gives me hope (628 EX but utilization hasn't updated for this period) that I can get in fairly soon.

Just curious and would like to see/read you guys and gals opinions.

Amex (and other lenders) have their own internal scoring system that put weights on certain factors, such as income, types of credit, useage,etc. So a person with a 640 FICO score can be approved and a person with a 740 score could be declined.

Also, many lenders will look past a charge off if a certain age and been paid.

YMMW

Re: Amex ???

Anonymous — Sat, 21 Feb 2015 21:45:22 GMT

@Eyisila wrote:
Not to sound bad or anything, and I apologize if it sounds that way, but I am a bit confused.

Has Amex lowered their standards, so to speak, for approval? I have seen a lot of recent (like within the past week) of people with scores around 640 getting approved for PRG, Delta, ED. Also it seems to vary with the types of files these people have. Some have high utilization, collections, charge-offs and so forth and some are "playing the game" well. Albeit they are for lower limits, but still, they are getting in.

I was just curious, maybe it's due to the fact that they lost Costco and JetBlue so they are trying to expand their customer base in other ways? Don't get me wrong I am very, VERY happy for these members, as it gives me hope (628 EX but utilization hasn't updated for this period) that I can get in fairly soon.

Just curious and would like to see/read you guys and gals opinions.

@Elysila,

I don't think so. Someone may have a score of 640 but may have other things strongly going in their favor. A credit score is not everything. Alot of other important factors are taken in to consideration as well.

i have to amex charge, and was recently declined for a bl...

Anonymous — Sat, 21 Feb 2015 23:39:19 GMT

i have to amex charge, and was recently declined for a blue cash and my scores are above 700s.

If someone has changed their views is cap 1 approving errbody with 10k and 20k

Re: i have to amex charge, and was recently declined for a bl...

travisr0 — Sat, 21 Feb 2015 23:52:07 GMT

Yeh cap one is throwing credit out to everybody, I just hate Cap 1

Re: i have to amex charge, and was recently declined for a bl...

bigbang91 — Sun, 22 Feb 2015 03:11:44 GMT

I read somewhere that Amex's ED is the easiest one to get and targets customer with low credit score. PRG makes you PIF everymonth so less risk, and everyone know the Delta Peso card is ....Also,i saw lots of people got approved for low limit,including me,2k delta peso lol.

Re: Amex ???

TURNERHOOVER — Sun, 22 Feb 2015 05:38:45 GMT

@sjt wrote:
@Eyisila wrote:
Not to sound bad or anything, and I apologize if it sounds that way, but I am a bit confused.

Has Amex lowered their standards, so to speak, for approval? I have seen a lot of recent (like within the past week) of people with scores around 640 getting approved for PRG, Delta, ED. Also it seems to vary with the types of files these people have. Some have high utilization, collections, charge-offs and so forth and some are "playing the game" well. Albeit they are for lower limits, but still, they are getting in.

I was just curious, maybe it's due to the fact that they lost Costco and JetBlue so they are trying to expand their customer base in other ways? Don't get me wrong I am very, VERY happy for these members, as it gives me hope (628 EX but utilization hasn't updated for this period) that I can get in fairly soon.

Just curious and would like to see/read you guys and gals opinions.
Amex (and other lenders) have their own internal scoring system that put weights on certain factors, such as income, types of credit, useage,etc. So a person with a 640 FICO score can be approved and a person with a 740 score could be declined.

Also, many lenders will look past a charge off if a certain age and been paid.

YMMW

True, Amex looked past my charge off during approval process which is almost 7 years old.

Re: i have to amex charge, and was recently declined for a bl...

TURNERHOOVER — Sun, 22 Feb 2015 05:40:31 GMT

@travisr0 wrote:
Yeh cap one is throwing credit out to everybody, I just hate Cap 1

I LOVE THAT YOU HATE CRAP1 +1