topic AMEX Credit card question in Credit Cards

AMEX Credit card question

Anonymous — Thu, 25 Apr 2013 16:20:58 GMT

Hi,

Just wanted to know if anyone knows the "typical" scores they accept for an AMEX card. I know that's not the only factor, but I'm just wondering what AMEX card gives applicants the highest odds of acceptance.

Also - sorry I'm new here - what is "the garden"????

Thanks,

Re: AMEX Credit card question

myjourney — Thu, 25 Apr 2013 16:39:56 GMT

@Anonymous wrote:
Hi,

Just wanted to know if anyone knows the "typical" scores they accept for an AMEX card. I know that's not the only factor, but I'm just wondering what AMEX card gives applicants the highest odds of acceptance.

Also - sorry I'm new here - what is "the garden"????

Thanks,
TJ

Welcome to the forum

AMEX has it's on internal scoring system

The easier cards to get your foot in the door with amex are charge cards

The garden is when you don't apply for any new credit while you let your existing TL's grow accounts age, etc etc

check the thread that say garden club meeting and read the 1st page for a good summary

Re: AMEX Credit card question

dodfire — Thu, 25 Apr 2013 16:39:45 GMT

Welcome!!

As to your question....AMEX score approvals can be all over the place because it is not just about the score only....

You would get better advice if you tell us more about your credit picture.

Garden...is the time you spend not applying for anything...letting your accounts age and inquiries fall off.

Re: AMEX Credit card question

Anonymous — Thu, 25 Apr 2013 16:49:34 GMT

Hi,

Thanks for the responses. Credit history is as follows:

2 recent hard inquiries

Scores: Equifax 679, Experian, 683, TU - ???

1 30 day late car payment in 2011

A couple old collection accounts from 2006/2007

Average age of accounts is 8 years. Oldest account is 39 years (fathers sears card is showing on my reports for some reason)

Only credit debt I have is an unsecured capital one card (1000 limit, 0 balance), 17000 in student loans, and 1533 left on my car payments.

Any suggestions for what "type" of AMEX card I "should" be OK to apply for. I've been reading about the green, but I honestly probably won't use it enough to jusitfy the annual fee. I really just want to increase my available credit "just in case" and hopefully to improve my scores.

Thanks again!

Re: AMEX Credit card question

dodfire — Thu, 25 Apr 2013 16:54:21 GMT

@Anonymous wrote:
Hi,

Thanks for the responses. Credit history is as follows:

2 recent hard inquiries
Scores: Equifax 679, Experian, 683, TU - ???
1 30 day late car payment in 2011
A couple old collection accounts from 2006/2007

Average age of accounts is 8 years. Oldest account is 39 years (fathers sears card is showing on my reports for some reason)

Only credit debt I have is an unsecured capital one card (1000 limit, 0 balance), 17000 in student loans, and 1533 left on my car payments.

Any suggestions for what "type" of AMEX card I "should" be OK to apply for. I've been reading about the green, but I honestly probably won't use it enough to jusitfy the annual fee. I really just want to increase my available credit "just in case" and hopefully to improve my scores.

Thanks again!
TJ

It is true that the AMEX charge cards seem to be a little easier to get. That is were most people start to get their foot in the door before applying for a revolving card with them.

Next in line I would say is the AMEX Gold Delta as far as a revolving card goes.

How long have you had your CapOne card??

Re: AMEX Credit card question

winner88 — Thu, 25 Apr 2013 16:55:59 GMT

for a charge card, EX FICO 670+ should suffice.

Re: AMEX Credit card question

Anonymous — Thu, 25 Apr 2013 17:14:08 GMT

Only about 2 months for the Capital One card. I tried applying for a Citi Simplicity card like my wife has, but was declined. I'm trying to get at least one more card to A. increase my available credit, and B. find one with a low interest rate since the Capital One card is like 24.99% or something.

Suggestions for any other cards that might be within my reach would be appreciated as well as I know that the AMEX cards are not revolving. Had I known this forum was here I probably would have asked before wasting my time with the Citi application....

Thanks again - this forum is great!

Re: AMEX Credit card question

myjourney — Thu, 25 Apr 2013 17:17:32 GMT

@Anonymous wrote:
Only about 2 months for the Capital One card. I tried applying for a Citi Simplicity card like my wife has, but was declined. I'm trying to get at least one more card to A. increase my available credit, and B. find one with a low interest rate since the Capital One card is like 24.99% or something.

Suggestions for any other cards that might be within my reach would be appreciated as well as I know that the AMEX cards are not revolving. Had I known this forum was here I probably would have asked before wasting my time with the Citi application....

Thanks again - this forum is great!

TJ

When you start to see declines it's time to stop applying and let your accounts age a bit.

Re: AMEX Credit card question

Anonymous — Thu, 25 Apr 2013 17:18:20 GMT

Go for it you never know. My experian was 730 when I got the green and bce. Only thing that I see that they may not like is the 30 day late. Keep us posted good luck!

Re: AMEX Credit card question

TimeToRecover — Thu, 25 Apr 2013 17:19:43 GMT

what is your utilization on the cap one. if it is high that can affect the approvals also.

Re: AMEX Credit card question

dodfire — Thu, 25 Apr 2013 17:22:19 GMT

@myjourney wrote:
@Anonymous wrote:
Only about 2 months for the Capital One card. I tried applying for a Citi Simplicity card like my wife has, but was declined. I'm trying to get at least one more card to A. increase my available credit, and B. find one with a low interest rate since the Capital One card is like 24.99% or something.

Suggestions for any other cards that might be within my reach would be appreciated as well as I know that the AMEX cards are not revolving. Had I known this forum was here I probably would have asked before wasting my time with the Citi application....

Thanks again - this forum is great!

TJ
When you start to see declines it's time to stop applying and let your accounts age a bit.

I agree with this......

You might look at Discover but......

Since your CapOne card is only 2 months old I would suggest you wait another 4 months and then apply for something.

And, when you apply make sure that your utilization is between 1%-9%

Re: AMEX Credit card question

Anonymous — Thu, 25 Apr 2013 20:01:13 GMT

It's a CL of $1000, I have about $180 on it currently. I pay it off in full every month.

The decline I received was on a Citi simplicity card with 0% intro rate for a year. I'm just wondering if the decline means I need to wait to apply again for "anything", or if the decline was simply a result of applying for a card that was "out of my league" in relation to my credit scores/history.

Re: AMEX Credit card question

codimom — Thu, 25 Apr 2013 20:25:20 GMT

Welcome to the forum!
With your card being such a young one I would wait til it hits its 6month mark before I would apply for any other card.
I pay my cards in full every month so I don't worry too much about the interest rate, but I do see your point. By using and paying on your Cap1 card responsibly, you will show creditors you can handle credit, and they may be more inclined to grant you a new card.

Re: AMEX Credit card question

codimom — Thu, 25 Apr 2013 20:30:59 GMT

@Anonymous wrote:
It's a CL of $1000, I have about $180 on it currently. I pay it off in full every month.

The decline I received was on a Citi simplicity card with 0% intro rate for a year. I'm just wondering if the decline means I need to wait to apply again for "anything", or if the decline was simply a result of applying for a card that was "out of my league" in relation to my credit scores/history.

I don't remember seeing how many total inqs are on your file... asking for too much too soon looks bad on your report. Inqs stay on your file for 2 years, but really only count 'against' you for 1 year. When you do decide to apply for your next card, try paying your Cap1 down to less than 9% util (so $90?) and then apply. Utilization is a big key.

If you must have another card, you could try a store card, or go to your local credit union. Then you can baby step your way into the prime cards like amex and citi.