topic Re: AMEX Platinum FICO Score? in Credit Cards

AMEX Platinum FICO Score?

ineedcreditbad — Thu, 15 Dec 2022 15:07:54 GMT

Any idea what kind of FICO Score is required for AMEX Plat?

Got an offer today for 150K points what are the chances of getting approved?

My current FICO 8 score is 810.

Thanks

Re: AMEX Platinum FICO Score?

pizzadude — Thu, 15 Dec 2022 15:18:03 GMT

@ineedcreditbad wrote:
Any idea what kind of FICO Score is required for AMEX Plat?

Got an offer today for 150K points what are the chances of getting approved?

My current FICO 8 score is 810.

Thanks

Assuming that's your EX score then your odds of approval are probably good. AMEX usually pulls EX, sometimes will also pull TU.

Score isn't the only factor, you'd obviously have to meet whatever income requirements they have, along with any other underwriting criteria.

Also charge cards are generally thought to be easier to qualify for than revolving cards in the world of AMEX.

Re: AMEX Platinum FICO Score?

AlanGJP — Thu, 15 Dec 2022 15:30:26 GMT

@ineedcreditbad wrote:
Any idea what kind of FICO Score is required for AMEX Plat?

Got an offer today for 150K points what are the chances of getting approved?

My current FICO 8 score is 810.

Thanks

Unless things have changed recently, Platinum (like gold) isn't that hard to get approved for, low 700's should get you in. Most Amex cards are fairly easy to get approved for. Again, unless things have changed. Given the turbulent financial landscape we see ourselves in, anything is possible right now.

Re: AMEX Platinum FICO Score?

ineedcreditbad — Thu, 15 Dec 2022 15:35:21 GMT

Thanks for the reply.

How much of a dip should I expect on my score given I havent applied for any credit for 2 years.

Also is there any CL on the Platinum?

Re: AMEX Platinum FICO Score?

pizzadude — Thu, 15 Dec 2022 15:42:15 GMT

@ineedcreditbad wrote:
Thanks for the reply.

How much of a dip should I expect on my score given I havent applied for any credit for 2 years.

Also is there any CL on the Platinum?

Inquiries usually won't have a significant impact on your score, probably less than 10pts. Once the new account hits your reports it may affect your score based on your AAoA being lower.

AMEX charge cards are NPSL, but AMEX will assign you a defacto limit that is variable, and is based on your spending habits, income, etc..

Re: AMEX Platinum FICO Score?

wasCB14 — Thu, 15 Dec 2022 15:40:27 GMT

Since FICO scoring was comparing me to other thin files, I had a nominal ~750 FICO with just 6.5 months of credit history. My application was pending for 24 hours but was ultimately approved.

Charge card spending power usually grows with spend and history. Some people get a specific limit of $2k or $4k or something assigned which is a sign Amex has concerns. Healthy accounts won't have an exact limit assigned. And most accounts will get a Pay Over Time limit but that's not a cause for concern.

Re: AMEX Platinum FICO Score?

Remedios — Thu, 15 Dec 2022 16:41:10 GMT

Scoring requirement for Amex charge cards is "Not dead"

Though, if dead were willing to prepay Coupon Wally+ Book, they would be in, too.

Re: AMEX Platinum FICO Score?

Brian_Earl_Spilner — Thu, 15 Dec 2022 16:55:22 GMT

@Remedios wrote:
Scoring requirement for Amex charge cards is "Not dead"

Though, if dead were willing to prepay Coupon Wally+ Book, they would be in, too.

I love my Amex prepaid gold card. I just wish I could top off at 7-Eleven like my green dot.

Re: AMEX Platinum FICO Score?

bigseegar — Thu, 15 Dec 2022 17:01:17 GMT

Of course AmEx looks at more factors than just FICO. But with that siad it really isn't that hard to get anymore at all. I know folks with 620 scores that got it. Sadly, IMO it's just not the quality card it use to be when it was Invitation only. Again though that's just my opinion.

Re: AMEX Platinum FICO Score?

wasCB14 — Thu, 15 Dec 2022 17:24:02 GMT

@bigseegar wrote:
Of course AmEx looks at more factors than just FICO. But with that siad it really isn't that hard to get anymore at all. I know folks with 620 scores that got it. Sadly, IMO it's just not the quality card it use to be when it was Invitation only. Again though that's just my opinion.

Charge card spending power is not all alike. @Brian_Earl_Spilner points out his $1750 POT limit Gold, but at the other end you have Liu Yiqian who ran a $170.4 million Modigliani painting through his Centurion charge card.

Re: AMEX Platinum FICO Score?

SouthJamaica — Thu, 15 Dec 2022 17:37:55 GMT

@ineedcreditbad wrote:
Any idea what kind of FICO Score is required for AMEX Plat?

Got an offer today for 150K points what are the chances of getting approved?

My current FICO 8 score is 810.

Thanks

Your chances are great.

I got approved when my score was in the 600's.

Re: AMEX Platinum FICO Score?

SouthJamaica — Thu, 15 Dec 2022 17:42:32 GMT

@ineedcreditbad wrote:
Thanks for the reply.

How much of a dip should I expect on my score given I havent applied for any credit for 2 years.

Also is there any CL on the Platinum?

You might experience a drop of 20 points or so, because you'd be dropping down to a different scoreboard. There is a separate scorecard for good profiles which haven't had a new account in 12 months. When I moved down from that scoreboard, it appeared to cost me 26 points in my EX FICO 8.

No there is no clear credit limit. They have internal limits, based on many factors, which keep changing, and which will probably grow over time. When in doubt about a particular item you can hit the "check spending power" button.

Re: AMEX Platinum FICO Score?

Anonymous — Thu, 15 Dec 2022 21:09:48 GMT

@Remedios wrote:
Scoring requirement for Amex charge cards is "Not dead"

I'm surprised that Amex marketing hasn't campaigned to offer to the dead too. This is a huge, underserved potential market.

It's not clear if Amex is yet willing to lend to the undead (as compared to @Remedios not dead) which could also be a huge market in a zombie apocalypse.

I do understand that the finance people might worry about the credit worthiness of these populations, and security might have real concerns about the undead breaching physical security.

Re: AMEX Platinum FICO Score?

Remedios — Thu, 15 Dec 2022 21:46:18 GMT

@Anonymous wrote:
@Remedios wrote:
Scoring requirement for Amex charge cards is "Not dead"

I'm surprised that Amex marketing hasn't campaigned to offer to the dead too. This is a huge, underserved potential market.
It's not clear if Amex is yet willing to lend to the undead (as compared to @Remedios not dead) which could also be a huge market in a zombie apocalypse.

I do understand that the finance people might worry about the credit worthiness of these populations, and security might have real concerns about the undead breaching physical security.

Finance people need not worry about formerly alive people, they have eternity to pay them back.

They could even introduce "Haunt Over Time" feature.

Re: AMEX Platinum FICO Score?

wasCB14 — Thu, 15 Dec 2022 22:17:06 GMT

@Remedios wrote:
@Anonymous wrote:
@Remedios wrote:
Scoring requirement for Amex charge cards is "Not dead"

I'm surprised that Amex marketing hasn't campaigned to offer to the dead too. This is a huge, underserved potential market.
It's not clear if Amex is yet willing to lend to the undead (as compared to @Remedios not dead) which could also be a huge market in a zombie apocalypse.

I do understand that the finance people might worry about the credit worthiness of these populations, and security might have real concerns about the undead breaching physical security.

Finance people need not worry about formerly alive people, they have eternity to pay them back.
They could even introduce "Haunt Over Time" feature.

I suppose one benefit of a lender incorporating is that with a corporation's theoretically infinite lifespan they can hope to avoid Dante's sixth circle (heresy, which includes usury).

We've already had zombie banks from the financial crisis. Why not customers, too?

And with enough culinary skill, maybe the Centurion Lounge cooks could find a way to give brains a mainstream appeal.

Re: AMEX Platinum FICO Score?

Brian_Earl_Spilner — Fri, 16 Dec 2022 02:59:23 GMT

@wasCB14 wrote:
@bigseegar wrote:
Of course AmEx looks at more factors than just FICO. But with that siad it really isn't that hard to get anymore at all. I know folks with 620 scores that got it. Sadly, IMO it's just not the quality card it use to be when it was Invitation only. Again though that's just my opinion.
Charge card spending power is not all alike. @Brian_Earl_Spilner points out his $1750 POT limit Gold, but at the other end you have Liu Yiqian who ran a $170.4 million Modigliani painting through his Centurion charge card.

Hardly pointing out my pot limit. That was my limit when I had NPSL. Now that it has a hard limit, I have to prepay it if I want to go over that limit.

Re: AMEX Platinum FICO Score?

Revelate — Fri, 16 Dec 2022 13:33:22 GMT

@bigseegar wrote:
Of course AmEx looks at more factors than just FICO. But with that siad it really isn't that hard to get anymore at all. I know folks with 620 scores that got it. Sadly, IMO it's just not the quality card it use to be when it was Invitation only. Again though that's just my opinion.

How many decades ago was it invite only?

Centurion (the almighty black card) was the invite only one since at least circa 2010 at least, and Remedios was pretty much spot on with "not dead" since like mid-2012.

Re: AMEX Platinum FICO Score?

iced — Fri, 16 Dec 2022 21:30:58 GMT

@Remedios wrote:
Scoring requirement for Amex charge cards is "Not dead"

Though, if dead were willing to prepay Coupon Wally+ Book, they would be in, too.

Pretty much this. If you have a pulse, a score in the mid to high 600s, and a job, they'll probably approve you. Despite the marketing, it's not an exclusive card.

Re: AMEX Platinum FICO Score?

wasCB14 — Fri, 16 Dec 2022 22:17:24 GMT

@iced wrote:
@Remedios wrote:
Scoring requirement for Amex charge cards is "Not dead"

Though, if dead were willing to prepay Coupon Wally+ Book, they would be in, too.
Pretty much this. If you have a pulse, a score in the mid to high 600s, and a job, they'll probably approve you. Despite the marketing, it's not an exclusive card.

And (from FT reports and my own experience) the once-bountiful retention offers seem to be drying up a bit...even as compared to a year ago when post-COVID travel had already largely resumed.

Re: AMEX Platinum FICO Score?

pizzadude — Fri, 16 Dec 2022 23:14:58 GMT

@Remedios wrote:
@Anonymous wrote:
@Remedios wrote:
Scoring requirement for Amex charge cards is "Not dead"

I'm surprised that Amex marketing hasn't campaigned to offer to the dead too. This is a huge, underserved potential market.
It's not clear if Amex is yet willing to lend to the undead (as compared to @Remedios not dead) which could also be a huge market in a zombie apocalypse.

I do understand that the finance people might worry about the credit worthiness of these populations, and security might have real concerns about the undead breaching physical security.

Finance people need not worry about formerly alive people, they have eternity to pay them back.
They could even introduce "Haunt Over Time" feature.

This gives a whole new meaning to Zombie Debt.