topic Re: Help ...?... I want a AMEX in Credit Cards

Help ...?... I want a AMEX

RashShakur — Fri, 05 Sep 2014 17:44:51 GMT

I would like to first mention that I thank this board for giving me such a wealth of knowledge that I could never repay. I recently closed on my first house last week and I am so elated. It took me two years to get my scores where I wasn't embarrassed to say the numbers. It was all because of this board that I was able to close on my house and getting my credit to a better place.

My GOAL is to be 740+ across the board in fifteen months. With that being said let's get down why I POSTED. I have one secured credit card (open 12/2011 with a 500 credit limit and no car loan. The only two things reporting on my credit is one secured card and my student loans everything else is closed and as you can see I have lived without credit for awhile. If you need any additional information just let me know. I need another credit card, what do I qualify for?

Equifax 661

Transunion 646

Experian 660

Inquiries

Equifax 5 ( 2 of them will fall off 11/2013

Transunion 6 (5 of them will fall off 112013

Experian 4 (3 will fall off 11/2013

All lender pulled scores

I have 3 charge-offs

BOA- Balance 7500 (Paid half of the balance) Settled for less on CR .....Will fall of 3/2014 off CR

Macy's- Balance 1k(Paid in full) .....4/2014 will fall off of CR

Capital One- 1500 (Paid 90% of the balance) Settled for less on CR..Will fall off of CR 9/2013

Auto Loan

BOA-9200 PAID IN FULL(Numerous late) Will fall off 12/2013

Paid tax lien ($889) paid 3/2009 only shows up on equifax

2 Collections

Central financial 550( settle for less) They won't delete

Gym Membership ( Paid in full) They won't delete (Only on transunion)

Student Loans 55k

Paid on time for the last 18 months

I have 5 student loan trade lines that were late 4 times in each tradelines (tradelines are consolidated.

Re: Help ...?... I want a AMEX

jamesdwi — Fri, 28 Dec 2012 15:50:33 GMT

If you want an AMEX, apply for a Charge card, they are pretty easy to get worst case is they deny you, they always pull EX for charge cards. Most of the stuff look old so hopefully they will ignore it. Apply for any charge card that has the first year Annual Fee waived perferably get the AP in before December 30th so you get a 2012 membership date that gives you the best chance at backdating on your next AMEX card.

Re: Help ...?... I want a AMEX

Repo-ed — Fri, 28 Dec 2012 15:51:37 GMT

you need to apply for amex green charge, then delta gold - only, with those COs

Re: Help ...?... I want a AMEX

espnjunkie — Fri, 28 Dec 2012 15:52:36 GMT

I would suggest looking into a credit union or into a starter card like capital one newcomers. Right now the baddies will hurt you with prime lenders and you need to get some positive history under your belt. There is light at the end of the tunnel though. Another six months of all on time payments and adding another tradeline will help you out. Slowly but steadily your scores will creep up and in a year you should be feeling much more confident.

Re: Help ...?... I want a AMEX

espnjunkie — Fri, 28 Dec 2012 15:54:26 GMT

@Repo-ed wrote:
you need to apply for amex green charge, then delta gold - only, with those COs

I personally would not recommend applying for any amex cards right now as they are very sensitive to baddies. Apply once you are in a stronger credit position after 6-12 months

Re: Help ...?... I want a AMEX

Anonymous — Fri, 28 Dec 2012 15:55:37 GMT

I have a 703 fico and I know AMEX won't approve me and I just have a 9 yr, 4 mo old Ch 7 on my report. I have a paid auto loan never late for 4 years, 13 yr old student loans also never late, 2 CCs - PIF or close to it: one is 3 yr old and the other is 6 mo old.

I barely got approved for the Chase Freedom last week. I know AMEX is tougher. I would try Capital One first.

Re: Help ...?... I want a AMEX

Anonymous — Sat, 29 Dec 2012 03:44:19 GMT

I also would like an amex, but my scores are not there yet. After I was declined for an amex green, they sent me an email with information about their prepaid card. With the prepaid card, you can load it from your bank account as it depletes or you can set up a direct deposit (not more than 5k per month). This prepaid card does not report to the credit bureaus, but after 6 months they may consider you for a charge/credit card with usage. Just an FYI. Seems like it might be getting a foot in the door. I just signed up.

Re: Help ...?... I want a AMEX

Anonymous — Sat, 29 Dec 2012 04:26:07 GMT

Why Amex?

Re: Help ...?... I want a AMEX

RashShakur — Sat, 29 Dec 2012 16:48:26 GMT

Thanks Jamesdwi-

I was also thinking that a charge card would be my best option at this point. I was thinking should I wait until my last tax lien to fall of my credit before I apply? I had a amex 10 years ago that was charged off but I paid it in full and it's no longer reporting on my credit.

Re: Help ...?... I want a AMEX

HiLine — Sat, 29 Dec 2012 16:51:40 GMT

Why don't you apply for a charge card right now? Worst case scenario is they deny you and you come back to apply in 6 months.

Re: Help ...?... I want a AMEX

RashShakur — Sat, 29 Dec 2012 16:54:15 GMT

ESPNJUNKIE- Thanks

If I get a additional credit card and have good payment for six months my chances would increase? In your opinion, what would be the percentage?

Re: Help ...?... I want a AMEX

RashShakur — Sat, 29 Dec 2012 17:00:13 GMT

Credit_monkey-Thanks.

I think I will try doing a pre-paid amex in hopes it will get me in the door. I really don't want another credit card espcially a capital one but that be my only option if amex pre-paid doesn't work out.

Re: Help ...?... I want a AMEX

RashShakur — Sat, 29 Dec 2012 17:03:52 GMT

I had a AMEX in the past and loved it. Their rewards programs are good and they have good customer service. It doesn't have to be a Amex but I would love a prime card and since I have had one in the past I would like have one now,

Re: Help ...?... I want a AMEX

RashShakur — Sat, 29 Dec 2012 17:05:45 GMT

If you don't mine me asking what was the denial reason and scores at the time?

Re: Help ...?... I want a AMEX

RashShakur — Sat, 29 Dec 2012 17:08:35 GMT

I would apply for it now just to see my denial reason but I wanted to wait until my tax lien falls off within the next month... Any thoughts?

Re: Help ...?... I want a AMEX

chnceit — Sat, 29 Dec 2012 17:15:04 GMT

IMHO you have way too much baddies and not ready for AMEX. You need to clean up your reports, get rebuilder cards and let it age.

Re: Help ...?... I want a AMEX

Anonymous — Sat, 29 Dec 2012 18:24:27 GMT

Tax liens look very bad to lenders. You should wait a month for that to fall off.

Re: Help ...?... I want a AMEX

Anonymous — Sun, 30 Dec 2012 05:35:53 GMT

I haven't recieved the reasons yet. But, my score was 659. I do have lots of inquiries due to recent auto loan and app spree.

Re: Help ...?... I want a AMEX

cashnocredit — Sun, 30 Dec 2012 14:26:44 GMT

I was declined for an Amex charge card back in late 2010. I had a 695 EQ FICO. 1.5 years perfect history with two cards but some older CAs and paid lien.