topic Re: Trying to get AMEX APPROVAL in Credit Cards

Trying to get AMEX APPROVAL

Ladymajestic2000 — Thu, 28 Apr 2022 06:14:14 GMT

Currently my Fico Score 8 is exp 667 equi 624 transu 633. I'm currently about to get my last 2 collections deleted across all 3 bureaus. I have 1 late on my auto loan from dec 2019 & 7 lates on my Cap One Platinum card with latest late payment being Mar 2020. Other than that, my credit profile is good. Do you think once I have both collections off I'll get approved for AMEX Gold. I'll also like to mention I'm 22

Re: Trying to get AMEX APPROVAL

NRB525 — Thu, 28 Apr 2022 08:46:23 GMT

Welcome to the forums!

It is likely the removal of the collections will help your scores, so waiting for that makes sense.
The CapOne lates, are those each 30 day lates? I'm not sure what AMEX policy is on recent lates, but they may hinder an approval.

Re: Trying to get AMEX APPROVAL

FireMedic1 — Thu, 28 Apr 2022 10:38:22 GMT

How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.

And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade

Re: Trying to get AMEX APPROVAL

bigseegar — Thu, 28 Apr 2022 11:44:28 GMT

@Ladymajestic2000 wrote:
Currently my Fico Score 8 is exp 667 equi 624 transu 633. I'm currently about to get my last 2 collections deleted across all 3 bureaus. I have 1 late on my auto loan from dec 2019 & 7 lates on my Cap One Platinum card with latest late payment being Mar 2020. Other than that, my credit profile is good. Do you think once I have both collections off I'll get approved for AMEX Gold. I'll also like to mention I'm 22

More than liikely you'll have a hard time getting approved for an AmEx card with Collections and/or all those lates on your report. Also AmEx will depend on your salary as well. But like I said and I'm huge AmEx person, I think you'll have an uphill battle even with the Collections off as they won't like those multiple Lates.

Re: Trying to get AMEX APPROVAL

Brian_Earl_Spilner — Thu, 28 Apr 2022 12:07:37 GMT

You can probably be approved right now. They may put you on a leash for a while depending on how you handle your profile, but if you're willing to jump through hoops like a possible spending limit placed on the account, there really isn't much stopping you besides how recent the lates are.

Re: Trying to get AMEX APPROVAL

jcooks — Thu, 28 Apr 2022 13:05:47 GMT

I was able to get Amex Gold approval with a collection showing and 27+ lates in April last year. The collection was almost falling off, but I still decided to settle for less and pay for delete after getting approved. Most of the lates were about 5 years old at the time of applying. I believe my scores were in the 670 range. For a few years, I went very minimally, had an auto loan (which required a cosigner and even then had a 6.59 rate) from cap one never missed a payment and 2 credit cards totaling $1500 credit line from cap one that I never missed a payment. All other cards were closed. I was literally at a point when I was in the garden for many years not by choice but I couldn't get approved and just continued to make payments on my current cards and let the baddies fall off. The Amex approval was just a blind attempt without even knowing the exacts of my credit profile as it was in the back of my mind how destroyed it was. The instant approval is what got me to start repairing my credit. I'm currently sitting at ~760 with 7 late payments that are about to fall off with no other derogs. I have about 57k in total credit line, 2 Amex charge cards, an auto loan at 2.49 interest and always PIF.

I would say it would be possible. My age of accounts is probably what helped me. Oldest account was 17 years which was a student loan. Had 3 auto loans reporting. It would depend on the rest of your profile.

Re: Trying to get AMEX APPROVAL

Remedios — Thu, 28 Apr 2022 13:41:29 GMT

@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade

"Two years" is for an isolated 30 day late, and even in those cases it's partial scoring recovery, there are still points to be gained when it falls off.

Multiple late payments are treated differently by scoring algorithm.

Re: Trying to get AMEX APPROVAL

lupes — Thu, 28 Apr 2022 14:02:53 GMT

Amex is generally easier than some of the other issuers such as Chase. However, those lates might be an issue standing in the way of your approval. Have you checked if Amex has pre-qualified offers for you on their website? This might give you a better indication.

Re: Trying to get AMEX APPROVAL

jkjklkjkl — Thu, 28 Apr 2022 14:03:33 GMT

Have you checked their website to see if they have any preapproved offers for you?

Re: Trying to get AMEX APPROVAL

Ladymajestic2000 — Thu, 28 Apr 2022 14:22:54 GMT

@NRB525 wrote:
Welcome to the forums!
It is likely the removal of the collections will help your scores, so waiting for that makes sense.
The CapOne lates, are those each 30 day lates? I'm not sure what AMEX policy is on recent lates, but they may hinder an approval.
All of those lates on my cap one card are all 2+ years old. They're spread out on the basis of months. 05/2019-06/2019, Nov 2019-Dec 2019. 01/2020-03/2020

Re: Trying to get AMEX APPROVAL

Ladymajestic2000 — Thu, 28 Apr 2022 14:24:57 GMT

@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade

Cap One is my only credit card. I got denied when I used try and apply to others like the student discover cc

Re: Trying to get AMEX APPROVAL

lupes — Thu, 28 Apr 2022 14:30:56 GMT

@Ladymajestic2000 wrote:

@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade

Cap One is my only credit card. I got denied when I used try and apply to others like the student discover cc

Did you recently apply to those other cards? If so, how many inquiries do you have on your report from the past 3, 6, 12, and 24 months?

Re: Trying to get AMEX APPROVAL

Ladymajestic2000 — Thu, 28 Apr 2022 14:39:59 GMT

@lupes wrote:
@Ladymajestic2000 wrote:

@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade

Cap One is my only credit card. I got denied when I used try and apply to others like the student discover cc

Did you recently apply to those other cards? If so, how many inquiries do you have on your report from the past 3, 6, 12, and 24 months?

I don't think so. As of now, I have 7 inquiries on exp & transu and 5 on my equifax. One of those inquires are from AMEX I tried to do back in October. The others are from dealerships back in July 1, 2021

Re: Trying to get AMEX APPROVAL

YoungMoney06 — Thu, 28 Apr 2022 14:43:14 GMT

@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade

Link won't work... found this a while back and saved it.

To upgrade from one Capital One account... go to this link: https://ficoforums.myfico.com/t5/Credit-Cards/Capital-one-upgrade-link-not-working-anymore/td-p/6228514

Reference Message 7 in that thread. I've used it twice. Once to take a Platinum card to a QS card... and now contemplating whether to go to a Venture One card or not.

Re: Trying to get AMEX APPROVAL

SouthJamaica — Thu, 28 Apr 2022 14:43:57 GMT

@Ladymajestic2000 wrote:
Currently my Fico Score 8 is exp 667 equi 624 transu 633. I'm currently about to get my last 2 collections deleted across all 3 bureaus. I have 1 late on my auto loan from dec 2019 & 7 lates on my Cap One Platinum card with latest late payment being Mar 2020. Other than that, my credit profile is good. Do you think once I have both collections off I'll get approved for AMEX Gold. I'll also like to mention I'm 22

Probably yes, but it's hard to guess as to these things.

Re: Trying to get AMEX APPROVAL

Ladymajestic2000 — Thu, 28 Apr 2022 14:50:55 GMT

@YoungMoney06 wrote:
@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade
Link won't work... found this a while back and saved it.

To upgrade from one Capital One account... go to this link: https://ficoforums.myfico.com/t5/Credit-Cards/Capital-one-upgrade-link-not-working-anymore/td-p/6228514

Reference Message 7 in that thread. I've used it twice. Once to take a Platinum card to a QS card... and now contemplating whether to go to a Venture One card or not.

Will it be a hard inquiry if I upgrade ?

Re: Trying to get AMEX APPROVAL

YoungMoney06 — Thu, 28 Apr 2022 15:04:36 GMT

@Ladymajestic2000 wrote:
@YoungMoney06 wrote:
@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade
Link won't work... found this a while back and saved it.

To upgrade from one Capital One account... go to this link: https://ficoforums.myfico.com/t5/Credit-Cards/Capital-one-upgrade-link-not-working-anymore/td-p/6228514

Reference Message 7 in that thread. I've used it twice. Once to take a Platinum card to a QS card... and now contemplating whether to go to a Venture One card or not.
Will it be a hard inquiry if I upgrade ?

No- when you go to upgrade, it will tell you it won't affect credit score...

Re: Trying to get AMEX APPROVAL

Ladymajestic2000 — Thu, 28 Apr 2022 19:47:59 GMT

@YoungMoney06 wrote:
@Ladymajestic2000 wrote:
@YoungMoney06 wrote:
@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade
Link won't work... found this a while back and saved it.

To upgrade from one Capital One account... go to this link: https://ficoforums.myfico.com/t5/Credit-Cards/Capital-one-upgrade-link-not-working-anymore/td-p/6228514

Reference Message 7 in that thread. I've used it twice. Once to take a Platinum card to a QS card... and now contemplating whether to go to a Venture One card or not.
Will it be a hard inquiry if I upgrade ?
No- when you go to upgrade, it will tell you it won't affect credit score...

I guess my questions are.. if I upgrade, will it completely take away my platinum or will I have 2 cc now? 2. Will it affect me from getting an AMEX Gold card if I apply next month ?

Re: Trying to get AMEX APPROVAL

YoungMoney06 — Thu, 28 Apr 2022 19:48:29 GMT

@Ladymajestic2000 wrote:
@YoungMoney06 wrote:
@Ladymajestic2000 wrote:
@YoungMoney06 wrote:
@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade
Link won't work... found this a while back and saved it.

To upgrade from one Capital One account... go to this link: https://ficoforums.myfico.com/t5/Credit-Cards/Capital-one-upgrade-link-not-working-anymore/td-p/6228514

Reference Message 7 in that thread. I've used it twice. Once to take a Platinum card to a QS card... and now contemplating whether to go to a Venture One card or not.
Will it be a hard inquiry if I upgrade ?
No- when you go to upgrade, it will tell you it won't affect credit score...

I guess my questions are.. if I upgrade, will it completely take away my platinum or will I have 2 cc now? 2. Will it affect me from getting an AMEX Gold card if I apply next month ?

If you upgrade, you're effectively product changing. So yes, your Platinum card will be changed from a Platinum to whatever card you upgrade to. You won't have two cards, but one.

As for the AMEX question- there's too many variances to that to answer, so unfortunately, I don't know.

Re: Trying to get AMEX APPROVAL

bigseegar — Thu, 28 Apr 2022 19:48:56 GMT

@Ladymajestic2000 wrote:
@YoungMoney06 wrote:
@Ladymajestic2000 wrote:
@YoungMoney06 wrote:
@FireMedic1 wrote:
How many cards do you have now? Score is a bit low for them. Your age doesnt really matter. Its your credit profile age that matters. You already got back the most points you could with the last 30 day once it passed 2 yrs. Once those collections are toast. Report back what your scores are then. List out all accounts in the meantime.
And. Upgrade your Plat to the QS here:https://www.capitalone.com/?external_id=%2Fproductupgrade
Link won't work... found this a while back and saved it.

To upgrade from one Capital One account... go to this link: https://ficoforums.myfico.com/t5/Credit-Cards/Capital-one-upgrade-link-not-working-anymore/td-p/6228514

Reference Message 7 in that thread. I've used it twice. Once to take a Platinum card to a QS card... and now contemplating whether to go to a Venture One card or not.
Will it be a hard inquiry if I upgrade ?
No- when you go to upgrade, it will tell you it won't affect credit score...

I guess my questions are.. if I upgrade, will it completely take away my platinum or will I have 2 cc now? 2. Will it affect me from getting an AMEX Gold card if I apply next month ?

No you would not have 2 cards. They would simply upgrade your existing card is all. Even the account number and CL would stay the same. Only the product name would change. But given all the lates you have with them it may be a 50/50 shot at an upgrade at best.

Also if you were denied just a few months ago for the AmEx nothing has really changed for approval now for you. Also you do realize that the Gold Card is a CHARGE card that with a few exceptions relating POT eligible charges has to be PIF each month and not a Credit card, right?