topic Re: Is Amex really tough to get??? in Credit Cards

Is Amex really tough to get???

Anonymous — Sun, 30 Jul 2017 22:20:04 GMT

I've applied twice in the last 6 months for the BCE card and I've been denied twice. They checked Experian as usual which is my lowest Fico score at 642. Utilization at 45% and I was approved for 3 cards yesterdays. I figured I had good odds for the BCE. My fiancee got the BCE card with a slightly lower utlization and her score was a bit higher.

I guess I'll hold off for now until I get some pre approval letters in the mail.

Is their something Amex spefically looks for? I felt like my credit was in a good place.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/3-Approvals-in-in-day-Chase-Barclay-and-Target/td-p/5011681

Re: Is Amex really tough to get???

MrDisco99 — Sun, 30 Jul 2017 22:25:34 GMT

Your utilization is hurting you. You need to knock that down.

3 brand new inquiries/accounts probably doesn't help, either.

Re: Is Amex really tough to get???

Anonymous — Sun, 30 Jul 2017 22:31:41 GMT

@Anonymous wrote:
I've applied twice in the last 6 months for the BCE card and I've been denied twice. They checked Experian as usual which is my lowest Fico score at 642. Utilization at 45% and I was approved for 3 cards yesterdays. I figured I had good odds for the BCE. My fiancee got the BCE card with a slightly lower utlization and her score was a bit higher.

I guess I'll hold off for now until I get some pre approval letters in the mail.

Is their something Amex spefically looks for? I felt like my credit was in a good place.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/3-Approvals-in-in-day-Chase-Barclay-and-Target/td-p/5011681

As others have said get the UTI down. Take a rest for 6 months. Don't apply for anything. Try for the BCE in 6 months. You may get lucky with a $500-1k SL.

Re: Is Amex really tough to get???

csryang — Sun, 30 Jul 2017 23:06:31 GMT

@Anonymous wrote:
I've applied twice in the last 6 months for the BCE card and I've been denied twice. They checked Experian as usual which is my lowest Fico score at 642. Utilization at 45% and I was approved for 3 cards yesterdays. I figured I had good odds for the BCE. My fiancee got the BCE card with a slightly lower utlization and her score was a bit higher.

I guess I'll hold off for now until I get some pre approval letters in the mail.

Is their something Amex spefically looks for? I felt like my credit was in a good place.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/3-Approvals-in-in-day-Chase-Barclay-and-Target/td-p/5011681

I agree with the above posts. Just wait for at least 6 months to 1 year then apply again. Amex typically offers high sign up bonus to anyone who does not have an Amex card before, so definitely compare different sign up offer when you want to apply again.

I suggest you request a free Experian credit report. You are entitled one as you were just denied credit. Go to Experian wesbite and request one. After you get the report, check to see if there's anything that's unusual. If everything looks good, then you are good to go to just wait for more time.

I always suggest people changing all their credit cards' statement cut/closing date to the same or similar date. That way, you can easily pay down everything except leaving a less than 10% balance/credit limit ratio on that account for them to report to the credit beauru. After statement cuts, you then pay that account to zero without carrying any balance. This way you will achieve the best credit score possible with your current profile. Just do this every month but only 1-2 months prior to your future application to Amex. I suggest you not apply for Amex until your score is at least 700 to get a better odd of being approved.

Re: Is Amex really tough to get???

AverageJoesCredit — Sun, 30 Jul 2017 23:05:22 GMT

Amex isnt as hard to get as before so long as you havent burned them by chargeoff or bankruptcy.

Re: Is Amex really tough to get???

Anonymous — Sun, 30 Jul 2017 23:09:46 GMT

@Anonymous wrote:
I've applied twice in the last 6 months for the BCE card and I've been denied twice. They checked Experian as usual which is my lowest Fico score at 642. Utilization at 45% and I was approved for 3 cards yesterdays. I figured I had good odds for the BCE. My fiancee got the BCE card with a slightly lower utlization and her score was a bit higher.

I guess I'll hold off for now until I get some pre approval letters in the mail.

Is their something Amex spefically looks for? I felt like my credit was in a good place.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/3-Approvals-in-in-day-Chase-Barclay-and-Target/td-p/5011681

No they are easy to get. Why is your score so low? Get it over 680 and you should be good to go,

Re: Is Amex really tough to get???

Anonymous — Mon, 31 Jul 2017 05:07:55 GMT

No they're not hard to get. I got my first Amex in 2015 with about a 635 score with multiple delquencies. I had a $1k staring line but it was cool because it got me in the door with them which worked (as you can see in my sig).

Get that UTL down and try again in a few months. You'll be able to get in!

Re: Is Amex really tough to get???

Turbobuick — Mon, 31 Jul 2017 05:13:01 GMT

They're not hard to get. They offer nothing special. There are better cards for most every need.

Re: Is Amex really tough to get???

quickstrike — Mon, 31 Jul 2017 17:25:44 GMT

I'm starting to realize that if you make use of any underlying credit card benefits, you will understand the value Amex provides. Through Amex offers combined with the least hassle extended warranty/return protection etc, I have received way more benefits than the highest cashback card. Makes me want to use Amex only in my wallet with a Visa/Mastercard as backup.

Re: Is Amex really tough to get???

Anonymous — Mon, 31 Jul 2017 19:12:48 GMT

@AverageJoesCredit wrote:
Amex isnt as hard to get as before so long as you havent burned them by chargeoff or bankruptcy.

What if you have a Bankruptcy listed but they were not apart of it?

Re: Is Amex really tough to get???

lisac — Fri, 04 Aug 2017 16:49:46 GMT

I was just approved for BCE sl $2k in July. Bankruptcy is 5 years old in Sept 2017. They were not included.

Re: Is Amex really tough to get???

Anonymous — Fri, 04 Aug 2017 17:55:04 GMT

@lisac wrote:
I was just approved for BCE sl $2k in July. Bankruptcy is 5 years old in Sept 2017. They were not included.

That is good to hear. I didn't have an Amex at the time. Seems they are easier than Chase lol

Re: Is Amex really tough to get???

Scupra — Fri, 04 Aug 2017 18:23:42 GMT

@Anonymous wrote:
@lisac wrote:
I was just approved for BCE sl $2k in July. Bankruptcy is 5 years old in Sept 2017. They were not included.
That is good to hear. I didn't have an Amex at the time. Seems they are easier than Chase lol

We have seen Chase approvals with a BK reporting around 1-2 years post d/c.. Amex is a strict 5 year wait period after filing. Amex did give me a MUCH higher SL compared to Chase though.