topic Amex in Credit Cards

Amex

RiotMonster — Sat, 27 Nov 2010 08:38:14 GMT

i was wondering how much inquiries affect a approval decision for an Amex card, not any in particular but mainly overall both charge and credit.

Thanks for the feedback in advance

Re: Amex

Anonymous — Sat, 27 Nov 2010 11:06:56 GMT

@RiotMonster wrote:
i was wondering how much inquiries affect a approval decision for an Amex card, not any in particular but mainly overall both charge and credit.

Thanks for the feedback in advance

I'm thinking (could be wrong) that not much consideration is given to INQs. I'm basing this thought on the members here who have reported exceptionally high INQs and successful Amex apps. I know that Amex relies on its own internal scoring/lending criteria to make a decision.

Re: Amex

Gibran — Sat, 27 Nov 2010 17:31:35 GMT

When I got my Amex earlier this year, I had 9 INQ's showing on my EX report. I think with Amex, they don't like to see any CO's or collections (even if they're paid), I may be wrong and someone can correct me if I am, I'm just going by my expereince with them when I app'd 2 previous times and both times I was declined due to a collection that was over 5 years old and paid. So I don't thnk they put too much stock into the number of INQ's you have.

Re: Amex

clocktick — Sat, 27 Nov 2010 17:52:02 GMT

@Gibran wrote:
I think with Amex, they don't like to see any CO's or collections (even if they're paid), I may be wrong and someone can correct me if I am

I just got an Amex Blue with a paid Amex chargeoff on my Experian CR (5 years old). Amex hard-pulled my EX to give me this card. I also have two other baddies on that report about 6 years old (one paid, one not and I'm fighting - long story). I did major clean-up though with two large limit secured cards so maybe that helped.

Re: Amex

ficonightmare — Sat, 27 Nov 2010 17:53:30 GMT

When I apped at the start of this month, my EX showed 3 baddies. A 120 days late, and 2 CO's.

I still got approved.

Only had 1 inquiry that was just over a year old.

They use their own algorithm. So while two people may have very similiar reports, one can get denied, the other approved. I haven't yet seem one common theme.

Unless of course you have perfect credit

Re: Amex

RiotMonster — Sat, 27 Nov 2010 20:27:15 GMT

I see i see, i do understand that they do use there own algorithm to either approve someone or decline, too bad no one knows for sure how it works

i think it also depends on where you live (state i mean) on which of the 3 CRA's they pull?

Re: Amex

Anonymous — Sat, 27 Nov 2010 20:35:57 GMT

EQ had 4 at the time and TU had 5... Now I am unsure what AMEX pulled, but they do not show any inquires on the reports through this site.

Re: Amex

ficonightmare — Sat, 27 Nov 2010 20:40:18 GMT

They pulled EX for me which happened to be my worst one.

Re: Amex

Anonymous — Sat, 27 Nov 2010 20:41:50 GMT

How can I pull my EX? I think they pulled that on me, since I don't see any Inquiries on my reports for them.

Re: Amex

haulingthescoreup — Sat, 27 Nov 2010 20:46:30 GMT

@RiotMonster wrote:

I see i see, i do understand that they do use there own algorithm to either approve someone or decline, too bad no one knows for sure how it works

i think it also depends on where you live (state i mean) on which of the 3 CRA's they pull?

Not so much with American Express, although other banks jump around by geography. AmEx almost always pulls Experian for everyone.

If your EX file is really "thin" (not much info), or if they see something that makes them uneasy, they will pull additional reports.

Re: Amex

RiotMonster — Sat, 27 Nov 2010 20:46:49 GMT

EX is my worst report also when it comes to inquiries (15) even though 8 of them are a year old. Sadly you cant pull up your EX fico or report through my fico since last year from what i read. Only lenders and such can do so.

Re: Amex

RiotMonster — Sat, 27 Nov 2010 20:49:09 GMT

I remember applying for an amex green card, which was about 8 months ago and they pulled all 3, i guess since i had a thin file for EX that explains why haha

I learn something new every day

Re: Amex

ficonightmare — Sat, 27 Nov 2010 20:49:56 GMT

@Anonymous wrote:
How can I pull my EX? I think they pulled that on me, since I don't see any Inquiries on my reports for them.

I went on Experians site and just ordered their plus report. it shows all the hard inquires.

Re: Amex

MarineVietVet — Sat, 27 Nov 2010 21:00:24 GMT

@RiotMonster wrote:
EX is my worst report also when it comes to inquiries (15) even though 8 of them are a year old. Sadly you cant pull up your EX fico or report through my fico since last year from what i read. Only lenders and such can do so.

Here is why: http://ficoforums.myfico.com/t5/Experian-has-stopped-offering/IMPORTANT-ANNOUNCEMENT-The-sale-of-Experian-based-FICO-scores-on/td-p/430229

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Amex

Anonymous — Sat, 27 Nov 2010 21:10:53 GMT

@ficonightmare wrote:
@Anonymous wrote:
How can I pull my EX? I think they pulled that on me, since I don't see any Inquiries on my reports for them.
I went on Experians site and just ordered their plus report. it shows all the hard inquires.

I just went ahead and ordered the plus report also.... AMEX did pull Experians. But now I am beyond confused.... MyFico shows different scores for TU and EQ. Experians site shows 699 across the board, and more inquires on most of my accounts. Also there puller does not seem as easy to use as the MyFico (not that it's hard, MyFico seems like a good fast glance, check site).

Re: Amex

Anonymous — Sat, 27 Nov 2010 21:12:22 GMT

@Anonymous wrote:
@ficonightmare wrote:
@Anonymous wrote:
How can I pull my EX? I think they pulled that on me, since I don't see any Inquiries on my reports for them.
I went on Experians site and just ordered their plus report. it shows all the hard inquires.
I just went ahead and ordered the plus report also.... AMEX did pull Experians. But now I am beyond confused.... MyFico shows different scores for TU and EQ. Experians site shows 699 across the board, and more inquires on most of my accounts. Also there puller does not seem as easy to use as the MyFico (not that it's hard, MyFico seems like a good fast glance, check site).

That is because the scores are not FICO scores from Experian site.

Re: Amex

Anonymous — Sat, 27 Nov 2010 21:20:54 GMT

What do they use, can you link me to this other scorning major so we don't hijack this thread... Is it worth keeping this second puller or will I be find with the cheap myFico and just check Experian 2-3 times a year?

Heck on Experian site... They state my birthyears as...

EX: 1991

EQ: 1990

TU:0

Re: Amex

ficonightmare — Sat, 27 Nov 2010 21:30:23 GMT

@Anonymous wrote:
What do they use, can you link me to this other scorning major so we don't hijack this thread... Is it worth keeping this second puller or will I be find with the cheap myFico and just check Experian 2-3 times a year?

Heck on Experian site... They state my birthyears as...

EX: 1991
EQ: 1990
TU:0

They use their own Plus score. It's worthless, lenders don't use it.

But, the point of the report is so you know what EX is showing and to verify the info. It's a good idea to see it and compare your EX to TU and EQ.

There's another site that offers you all 3 reports free once per year. No scores just reports. https://www.annualcreditreport.com

What I found interesting with EX's Plus report is that you can dispute it online. If you do, it takes you to another page and you get the same report that annualcreditreport.com offers but with todays date. So even though I got my free EX report through annual credit in October, I was able to get the same report again a few days ago with newer info.

Re: Amex

Anonymous — Sat, 27 Nov 2010 21:52:58 GMT

Checked the reports, I feel good to see my EX score. Now that I am trying to cancel the membership, they keep trying to convince me to stay (Person is somewhat hard to understand). They turn me off more and more by trying to get me to stay bleh... They did offer 50% off witch is tempting, down to $7.50 a month (FYI for anyone who would like to keep it). But one thing after calling the 1-877-284-7942 number, at the end they said,"Thank you for calling myfreecreditreport.com." I just said ok and hung up, but I thought the number was for Experian site. Are they both the same company (Myfreecreditreport and Experian)?

Re: Amex

ficonightmare — Sat, 27 Nov 2010 21:57:37 GMT

You know there was an option to just purchase one report and not become a member, right? If not, I'm sorry- I should have mentioned it