topic Re: Amex charge vs. Amex credit, which one.... in Credit Cards

Amex charge vs. Amex credit, which one....

Gibran — Tue, 06 Apr 2010 18:12:33 GMT

Is harder to obtain? I think I read somewhere here within the forums that an Amex credit card is harder to get approved. The cards I'm particularly inquiring about are the Green, Blue, Amex Gold Skymiles, Amex Starwood..If someone could give a little insight, that would be helpful. I know it really all depends on the individual's credit history, but I'm hoping you guys who have Amex experience could shed some light the cards you've found to be harder to obtain than others. I tried twice with Amex, shot down both times, their reason was my EX score was too low, no revolving accounts, 1 old pd collection from 6 six years ago. Since my last denial I've obtained 5 cc's (2 bank, 3 store), right now my util is 11% on all cc's ($2,750 combined CL on all cards), the old collection has fallen off so now there are no baddies on report, not sure what my EX score is but I'm sure it has risen. I was going to give Amex one last shot and if denied, just write them off for good. Maybe it just wasn't meant to be

Re: Amex charge vs. Amex credit, which one....

cdtotten — Tue, 06 Apr 2010 18:10:52 GMT

Credit cards will amost always be harder to obtain then Charge Cards. With a credit card, they have to allow someone to potentially charge to their limit and revolve that balance from month to month, not knowing if they will ever get it back. With charge cards, they can cut you off anytime they want and don't have to worry about balances being rotated. Although they both pose the same ultimate risk of non-payment, it is substantially higher with a credit card than a signature card.

Re: Amex charge vs. Amex credit, which one....

Gibran — Tue, 06 Apr 2010 18:17:02 GMT

Hey cdtotten thanks for that insight, I never knew that. I tried app'ing for the Delta Gold Skymiles card both times.

Re: Amex charge vs. Amex credit, which one....

cdtotten — Tue, 06 Apr 2010 19:18:59 GMT

The Delta Gold Skymiles card is the easiest credit product they offer, so if that is not working out you might want to improve your credit report and try again once things are looking better.

Re: Amex charge vs. Amex credit, which one....

Gibran — Tue, 06 Apr 2010 19:33:29 GMT

Wow I didn't know that was one of their easier cards, yeah guess I'll wait.

Re: Amex charge vs. Amex credit, which one....

tray — Tue, 06 Apr 2010 20:46:17 GMT

Have you tried the pre-select site for any offers, even if it is a charge card and you end up getting approved you have your foot in the door with American Express and you will be able then to build a relationship and app for better cards later. This is what I did and I had baddies on my EX report and was approved. My opinion if you are pre-selected for a card you have a pretty good shot. Others have been approved also using this site.