topic Amex card decision in Credit Cards

Amex card decision

Anonymous — Sat, 15 Jul 2017 20:58:09 GMT

Hey everyone,

I am currently a 21 year old full time student, I have been an authorized user on 2 of my dads credit cards for nearly 2 years(Credit reports claim 3 years) My EQ score is 726, TU is 745 and EXP is 711. Other than being an authorized user I have no other line of credit. I was thinking about applying for the Amex Platium just becasue I saw people were having better luck with getting approved over the Gold. My dream card is the Citi Aadvantage card but I feel the likelihood is not promising. I am new this so I will take any advice!

Re: Amex card desicsion

AverageJoesCredit — Sat, 15 Jul 2017 19:24:04 GMT

Probably better shot at Amex than Citi, Citi prefers at least 1 year credit history. The Platinum seems to be a good card if you utilize it right. Paying $550 af just to have not the best option. Imo

Re: Amex card desicsion

BPebbles — Sat, 15 Jul 2017 19:28:49 GMT

I agree with AJC, but be aware that the AmEx Platinum is a charge card, not a credit card. You have to pay in full every statement.

Re: Amex card desicsion

Anonymous — Sat, 15 Jul 2017 19:38:42 GMT

What would you recomend for me?

Re: Amex card desicsion

Anonymous — Sat, 15 Jul 2017 20:06:05 GMT

All Amex charge cards seem to have similar underwriting criteria. Who do you bank with? That would be a good place to start. Who are the AU cards with? If they are also with Amex, then applying for both a charge card and then a revolver in the same day (BCE or ED) I'd say would likely work out in your favor.

Re: Amex card desicsion

Anonymous — Sat, 15 Jul 2017 20:25:02 GMT

One AU is with Amex and the other is Citi AAdvantage World Elite. I bank with regional bank called Regions. I just have it while im here in at school, but im not a big fan of it. I was reading where if you have an account with amex it will only be a soft pull? Does that include the AU?

Re: Amex card desicsion

AverageJoesCredit — Sat, 15 Jul 2017 20:55:44 GMT

No i believe you have to actually have an actual account. I would probably go for an Amex first, as they kinda prefer thin files and in a year after establishing your own credit you could go for the Citi.

Re: Amex card decision*

Anonymous — Sat, 15 Jul 2017 21:06:34 GMT

Is there a big difference in approvals between the platinum and gold? I travel quite a bit and have a trip to Europe coming up in a few weeks.

Re: Amex card decision*

simplynoir — Sat, 15 Jul 2017 22:37:21 GMT

The underwriting is the same for the charge cards so if you want to apply for the platinum card just keep in mind as others have already mentioned there's an annual fee charged right away of $550 and since it's a charge card the balance has to be paid in full every month.

Re: Amex card decision*

wasCB14 — Sat, 15 Jul 2017 22:43:21 GMT

I know Amex is often okay with thin files...I got my first with 6.5 months of history...but will it hurt OP that the history is only on AU cards? I'm not sure what Amex's underwriting standards are regarding history as an AU.

Platinum isn't generally believed to be easier to get than other charge cards. Also, last I heard the regular Gold was closed to new apps, so it's not relevant for comparison to begin with.

Re: Amex card decision

AverageJoesCredit — Sat, 15 Jul 2017 23:08:32 GMT

I guess only way to find out is for op to try his hand. With Amex opening the doors to lower scores lately anything is possible

Re: Amex card decision

Anonymous — Sat, 15 Jul 2017 23:52:57 GMT

Check out the Amex prequal site to see if they have any offers for you.

That would be a good starting point !

Re: Amex card decision

Anonymous — Sun, 16 Jul 2017 00:05:24 GMT

I must say I love my platinum. Sitting in a nice air conditioned lounge with good food and cold drinks watching the people outside sweltering in some airport... Don't leave home without it. Lol!

Truly though, you must admit the world is upside down when some Citi card is thought more desirable than My Precious...uh, er, AmEx Platinum. These were by invitation in the eighties.. :-)

Re: Amex card decision

MrDisco99 — Sun, 16 Jul 2017 00:21:38 GMT

Do you already fly at least once a year and use Uber regularly? Is that already in your budget? If not, then the Platinum card is probably not the one you want to start with.

Re: Amex card decision

Anonymous — Sun, 16 Jul 2017 01:19:44 GMT

Update: I got approved for the Amex Gold! Should I go ahead and apply for the revolver?

Re: Amex card decision

simplynoir — Sun, 16 Jul 2017 01:59:50 GMT

@Anonymous wrote:
Update: I got approved for the Amex Gold! Should I go ahead and apply for the revolver?

If you want to use the same HP to double app yes. Since you got the PRG I'd go the with ED card to maximize your MR points.

Re: Amex card decision

Anonymous — Sun, 16 Jul 2017 04:36:23 GMT

@Anonymous wrote:
Update: I got approved for the Amex Gold! Should I go ahead and apply for the revolver?

Welcome to the forum! Congrats on your approval!!

Re: Amex card decision

Anonymous — Sun, 16 Jul 2017 14:20:50 GMT

@simplynoir wrote:
@Anonymous wrote:
Update: I got approved for the Amex Gold! Should I go ahead and apply for the revolver?
If you want to use the same HP to double app yes. Since you got the PRG I'd go the with ED card to maximize your MR points.

I second this. But don't do what I did in college and rack up debt on credit cards. Credit does not equal additional income. A charge card would have been perfect for me to practice better habits. But as long as you're paying off your bill every month and not incurring interest, I'd say go for it!

Re: Amex card decision

jawbrkr — Sun, 16 Jul 2017 19:58:20 GMT

Congrats!!

Re: Amex card decision

Anonymous — Mon, 17 Jul 2017 01:37:40 GMT

college student as well and avid AMEX user here.

Congrats on your PRG, I would probably go with what was said above ^^ and go with the ED. If you don't see yourself redeeming the rewards for travel as often, go with the BCE (which I did) for the cash back. $100 signup bonus after $1k is also pretty neat.