topic Re: Amex Approval- Should I apply for Premier Rewards Gold? in Credit Cards

Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Tue, 15 Nov 2016 19:54:09 GMT

Based on FICO report:

EQ is 605

TU is 630

EX is 619.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

sjt — Wed, 21 Sep 2016 20:26:41 GMT

i would go for it. Since you now have a Amex Card and future applications are a SP unless you get approved. So there is no risk of a HP.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 00:54:19 GMT

Im very tempted. I just cannot get a straight answer on whether you should apply within 30 days of opening a new amex account. It doesn't seem like that would matter?

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Meanmchine — Thu, 22 Sep 2016 01:21:48 GMT

If there is a 30 day rule it wouldnt cost you anything to try as they wouldnt pull your report It would be an instant no pull denial

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 04:38:36 GMT

No such rule. Only rule is if your app is within 5 days of another it will usually go straight to pending but not always. However, I would wait it out if I were you, your scores are low for PRG with the derogs. Just because you were approved for one Amex product doesn't mean you will be approved for another. Although it's widely noted that Amex charge cards have lower underwriting standards for approvals than Amex revolvers, the Delta gold seems to have the lowest standards due to it being co-branded. I was once denied for PRG with 719 FICO 08 EX, perfect payment history, no derogs just a thin file. But as always YMMV every profile is different. Congrats on your approval and good luck to you. Please let us know if you decide to go for it or garden for a bit and raise your scores.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

austinguy907 — Thu, 22 Sep 2016 05:22:37 GMT

First off Congrats on the approval and joining the family!

As for adding another Amex line right now? I wouldn't poke the bear as you have a borderline approval at $1K already on Delta

Plan of action:

Wait for the AU to drop

3X CLI on Amex @ 61 days if possible (may not work if derogatories are on report and keep scores low)

181 day 3X attempt

While working on Amex start scrubbing your reports on the collections and see if you can GW the lates off

This usually doesn't work on the first attempt and may take several attempts unless you can get a PFD (pay for delete) on them

Work on your existing cards from a CLI standpoint instead of apping for something new

Don't abuse the Synchrony card with a bunch of tires nor apply for more of them like Wal-Mart / Sam's / Etc. Just give CS a call @ 877-379-8173 and ask for $10K and they will counter back with a reasonable amount based on your TU score.

I would go ahead and combine the Cap1 accounts into the QS1

Other than that if you follow these things in 1 Year you should see some pretty nice results. Whomever owns the Cap1 AU account.... make sure they keep the UTIL under 10% while you're an AU for maximum points.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 12:38:00 GMT

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 12:34:22 GMT

Amex Approval's

check out my post the other day. Good luck if you decide to go for it!

Congrats on your new Amex!

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 13:14:47 GMT

wow, thank you!!!

I will call Sync and see what they say about a CLI.
About those derogs/CO's.... How do I even go about that? As in, theyre 3-4 years old and they are "valid", so what do I say to try and get them off?

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 13:17:07 GMT

Thank you... your thread definitely gives me hope and is tempting...

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Tue, 15 Nov 2016 19:55:48 GMT

Re: Amex Approval- Should I apply for Premier Rewards Gold?

austinguy907 — Thu, 22 Sep 2016 16:47:28 GMT

@Anonymous wrote:
wow, thank you!!!

I will call Sync and see what they say about a CLI.
About those derogs/CO's.... How do I even go about that? As in, theyre 3-4 years old and they are "valid", so what do I say to try and get them off?

Call each one and ask them if they would like to settle and delete them once they're paid. Most of them bought the debts for pennies on the dollar and will delete them if you give them money for the debts.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 17:14:02 GMT

Thanks!

I don't have any room to negotiate on the amount to pay back, do I?

Re: Amex Approval- Should I apply for Premier Rewards Gold?

austinguy907 — Thu, 22 Sep 2016 17:43:41 GMT

You can ask them if they'll do 50% of the amount and delete it when you pay it. Depends on the collector though if they're willing to budge from the amount. If they don't agree to delete it's not worth paying it though since it will reactivate it on your CR's and bring your scores down with any update.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Thu, 22 Sep 2016 18:45:22 GMT

Ah, thank you!!

Morality aside, if they negotiate a lower amount, it's prudent to pay them off and have them removed, right? How much (guesstimate) would my scores improve?

Apologize if these are somewhat elementary questions- first time (and last time) I hope to be in this situation.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

austinguy907 — Thu, 22 Sep 2016 19:00:20 GMT

It's hard to say how much of a rebound you'll see from the removals but, it's safe to say you'll be in a better place sooner than waiting for them to fall off on their own. If you get all of them to go away you should see a significant 30-50 or more points from them being removed. For instance when you see a Bankruptcy fall off there's about 100-120 points. Collections hold things down but, aren't as significant as a BK in terms of scoring. You might get more than 50 points but, it's hard to say for sure depending on other factors that may be concurrent with the changes.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Fri, 23 Sep 2016 21:29:39 GMT

Gotcha, thanks!

Well, i got a little trigger happy today and apped for the PRG. Declined. got the letter in 7-10 days message. I guess I'll go garden for a few months.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Fri, 23 Sep 2016 21:35:06 GMT

@austinguy907 wrote:
First off Congrats on the approval and joining the family!

As for adding another Amex line right now? I wouldn't poke the bear as you have a borderline approval at $1K already on Delta

Plan of action:
Wait for the AU to drop
@3X CLI on Amex @ 61 days if possible (may not work if derogatories are on report and keep scores low)
181 day 3X attempt

While working on Amex start scrubbing your reports on the collections and see if you can GW the lates off
This usually doesn't work on the first attempt and may take several attempts unless you can get a PFD (pay for delete) on them
Work on your existing cards from a CLI standpoint instead of apping for something new

@Anonymous't abuse the Synchrony card with a bunch of tires nor apply for more of them like Wal-Mart / Sam's / Etc. Just give CS a call @ 877-379-8173 and ask for $10K and they will counter back with a reasonable amount based on your TU score.

I would go ahead and combine the Cap1 accounts into the QS1

Other than that if you follow these things in 1 Year you should see some pretty nice results. Whomever owns the Cap1 AU account.... make sure they keep the UTIL under 10% while you're an AU for maximum points.

Solid advice.

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Fri, 23 Sep 2016 21:36:07 GMT

Congrats on your approval and welcome to the forum!

Re: Amex Approval- Should I apply for Premier Rewards Gold?

Anonymous — Fri, 23 Sep 2016 22:12:53 GMT

@Anonymous wrote:
wow, thank you!!!

I will call Sync and see what they say about a CLI.
About those derogs/CO's.... How do I even go about that? As in, theyre 3-4 years old and they are "valid", so what do I say to try and get them off?

Spend some time on the Rebuild forum. Also, do an online search for GW letters. Best of luck to you!