topic Re: Do I have chance with AMEX? in Credit Cards

Do I have chance with AMEX?

dodgerslv — Sat, 23 Mar 2013 01:48:02 GMT

I know this probably been asked before but i really would love to get in with AMEX. I tried last August and got denied for the Delta Gold.They pulled all 3 CR and letter came back with EX Fico of 673. Reasons i remember were for recent collections. Time since account has been opened. inquries, etc. Now I do have 2 paid collections on my EX report that are now over 1.5 years old. They are not CC collections. I do have 2 CC chargeoffs from mid/late 2007. One is paid one is unpaid (cannot locate account with collection agency, kept getting bounced around from company to company so i left it alone. I have 15 inquries on EX but only one (BOA) since August 2012. On the good side i have about 12 revolving CC. Utilization is about 9-10%. My highest limit is 4000 on my WF and Cap1 (hasnt updated yet) at 3500. both of those accounts are over 1 year old. My AAoA on EX is 4 yrs, EQ 3.5 and TU only 2. I went to creditcards.com for fun and it resutled in a shot at AMEX BCE BCP and Delta gold. I take that with a grain of salt. Well anyways, dont want to make this too long. I wanted to apply for one of their charge card that way i can apply for BCE come September. Do i have a good shot or should i just wait for those collections to get older? (tried to GW but so far no luck). Any info or advice would greatly be appreciated.

Re: Do I have chance with AMEX?

armbenderc — Sat, 23 Mar 2013 02:07:31 GMT

@dodgerslv wrote:
I know this probably been asked before but i really would love to get in with AMEX. I tried last August and got denied for the Delta Gold.They pulled all 3 CR and letter came back with EX Fico of 673. Reasons i remember were for recent collections. Time since account has been opened. inquries, etc. Now I do have 2 paid collections on my EX report that are now over 1.5 years old. They are not CC collections. I do have 2 CC chargeoffs from mid/late 2007. One is paid one is unpaid (cannot locate account with collection agency, kept getting bounced around from company to company so i left it alone. I have 15 inquries on EX but only one (BOA) since August 2012. On the good side i have about 12 revolving CC. Utilization is about 9-10%. My highest limit is 4000 on my WF and Cap1 (hasnt updated yet) at 3500. both of those accounts are over 1 year old. My AAoA on EX is 4 yrs, EQ 3.5 and TU only 2. I went to creditcards.com for fun and it resutled in a shot at AMEX BCE BCP and Delta gold. I take that with a grain of salt. Well anyways, dont want to make this too long. I wanted to apply for one of their charge card that way i can apply for BCE come September. Do i have a good shot or should i just wait for those collections to get older? (tried to GW but so far no luck). Any info or advice would greatly be appreciated.

Based on my personal experienced with Amex, INQ doesn't really matter.

When I got Amex BCE, I was at 14 INQ with EX.

Although, having Amex Green for 5 months before apping for BCE helped for sure.

I would first go with Amex Green, get 6 months history with them, GET your revolver, then cancel the Green before AF hits if you want.

Re: Do I have chance with AMEX?

youngandcreditwrthy — Sat, 23 Mar 2013 02:12:28 GMT

Idk bout the baddies...
In your case, the good outweighs the bad.
But in most cases, a baddie is a deal-killer for Amex:-/
I say 70% chance.

Re: Do I have chance with AMEX?

toppers555 — Sat, 23 Mar 2013 02:35:15 GMT

I would have to lean towards a denial. You have two collections which are pretty recent. Not to mention the two credit card chargeoff's. How does your chexsystem record look?

Re: Do I have chance with AMEX?

09Lexie — Sat, 23 Mar 2013 02:40:15 GMT

@toppers555

Chexsystems? Amex looks at that too?

Re: Do I have chance with AMEX?

Ron1 — Sat, 23 Mar 2013 03:31:51 GMT

I think you have a chance to get a charge card like Green Card. Charge Cards usually require lower score to qualify. First, I got the charge card to get the foot inside Amex and then apply for Costco Amex after six months. By the way, they don't check the Chexsystem.

Ron.

Re: Do I have chance with AMEX?

LS2982 — Sat, 23 Mar 2013 03:36:19 GMT

@Ron I believe its teletrack that they check.

Re: Do I have chance with AMEX?

09Lexie — Sat, 23 Mar 2013 03:38:24 GMT

That's what I thought too. Thanks LS.

Re: Do I have chance with AMEX?

Henchman21 — Sat, 23 Mar 2013 03:39:28 GMT

What is teletrack?

Re: Do I have chance with AMEX?

09Lexie — Sat, 23 Mar 2013 03:45:15 GMT

It's another agency that keeps information that may not readily be available on traditional CR's. They also can be another catch all for items that should be on your cr ie judgments, evictions.

From what I heard, having something on teletrack is usually not good.

Could be wrong.

Re: Do I have chance with AMEX?

Henchman21 — Sat, 23 Mar 2013 03:51:06 GMT

Yes. I think I have something on chex systems. I wonder if you can clean it up when it's paid like the CR?

Re: Do I have chance with AMEX?

dodgerslv — Sat, 23 Mar 2013 05:18:44 GMT

@LS2982 wrote:
@Anonymous I believe its teletrack that they check.

i think im pretty good with that.

Re: Do I have chance with AMEX?

dodgerslv — Sat, 23 Mar 2013 05:20:23 GMT

@toppers555 wrote:
I would have to lean towards a denial. You have two collections which are pretty recent. Not to mention the two credit card chargeoff's. How does your chexsystem record look?

I am thinking the same. I havent really heard of anyone getting approved for Amex charge card with recent collections. Looks like Amex is sensitive about collections right?

Re: Do I have chance with AMEX?

dodgerslv — Sat, 23 Mar 2013 05:22:46 GMT

And i know if i did took the plunge they would definitely pull all of my 3 CR...even though i have no collections reporting on EQ and only 1 of the that i have on EX reporting in TU. Even if they pull all 3, does anybody know if they still go by EX score? Or could having better reports and scores on the other 2 increase my chances?

Re: Do I have chance with AMEX?

sarkell — Sat, 23 Mar 2013 09:00:32 GMT

I think amex goes by internal score meaning they use exp score they have their own criteries meaning 720 and a late going to be a no. If that makes sense.

Re: Do I have chance with AMEX?

toppers555 — Sat, 23 Mar 2013 11:09:22 GMT

I believe your right it telecheck , not chexsystems.

@ OP I was approved for BCE with one unpaid collection on EX. collection true default date was back in 06 , but collector updated status in 2011 which makes fico thinks it is recent. I was not 3x pulled, only EX. I had appiled many times before and was denied. It could have either been prepaid card I got from Amex, and was loading with a few hundred bucks every two weeks, or the fact I had just a few weeks prior open a small busniess card with them that they have been targeting me for ages about.

Re: Do I have chance with AMEX?

dodgerslv — Sat, 23 Mar 2013 15:40:40 GMT

Well thanks for the infor everyone. Not sure yet if im going to take a shot and gamble on Amex. If i do get denied, then i will know not to apply with them unilt another 6-12 months (or when the chargeoffs fall off in mid/late 2014). Wonder if i have a better chance with Chase? I know i can recon with them 1, 2 even 3 times. I have a feeling my chances with them are better than with Amex.

Re: Do I have chance with AMEX?

zeusta20 — Sat, 23 Mar 2013 15:45:06 GMT

Either way you go, Chase or Amex is good. I know a lot of people want to get an amex. I'm started off with the green, not knowing it would matter to getting my foot in the door. Glad I did though.

Good luck! Hopefully all goes well with whatever you decide.

Re: Do I have chance with AMEX?

dodgerslv — Sat, 23 Mar 2013 16:41:45 GMT

@zeusta20 wrote:
Either way you go, Chase or Amex is good. I know a lot of people want to get an amex. I'm started off with the green, not knowing it would matter to getting my foot in the door. Glad I did though.

Good luck! Hopefully all goes well with whatever you decide.

thanks zeusta! I am probably going to lean towards Chase cuz with them at least i got a chance to explain why i have the baddies that i have and hopefully i will get an understanding CSR/analyst.

Re: Do I have chance with AMEX?

Open123 — Sat, 23 Mar 2013 17:16:08 GMT

@dodgerslv wrote:
@toppers555 wrote:
I would have to lean towards a denial. You have two collections which are pretty recent. Not to mention the two credit card chargeoff's. How does your chexsystem record look?
I am thinking the same. I havent really heard of anyone getting approved for Amex charge card with recent collections. Looks like Amex is sensitive about collections right?

Actually, in my experience, they're much "less" sensitive to collections and derogs than most other issuers, if they have other information on you.

I've known a few who were approved for charge cards with recent COs and derogs. Of course, they weren't large COs, but relatively small ones that really didn't matter, aside from dragging down a score.

With an existing relationship, I've seen many with the occassional derog without ever any AA from Amex. Case in point, I have a colleague who was declined (for the sign up bonus apps) by Chase, Citi, and Barclays. But, Amex approved him for the SPG, even with his troubled history, because of his 30 years of using and paying his charge card, albeit late frequently.

In the end, I think Amex makes "more" exceptions than other lenders. Can you imagine Ctii making an exception for anyone?