topic Re: AMEX Question in Credit Cards

AMEX Question

bellrod44 — Tue, 17 Sep 2013 19:34:40 GMT

I've been thinking about getting my foot in the door with AMEX. Does anyone have any suggestions on which card would be best with my scores (below in my sig)? I'd also prefer a credit card, not a charge card. My AAoA is about 2 years with no new accounts opened in the previous year.

Re: AMEX Question

wHiTeSoL — Tue, 17 Sep 2013 19:39:49 GMT

@bellrod44 wrote:
I've been thinking about getting my foot in the door with AMEX. Does anyone have any suggestions on which card would be best with my scores (below in my sig)? I'd also prefer a credit card, not a charge card. My AAoA is about 2 years with no new accounts opened in the previous year.

Rumors are that the Delta Gold is the easiest revolver to get. YEMV though. There is also two sign up offers floating around, 30k Delta miles w/$500 spend and 45k Miles with 5k Spend (through creditcard.com match tool) I was approved with slightly higher scores than you (10-15 points) so good luck!

Re: AMEX Question

Anonymous — Tue, 17 Sep 2013 19:40:08 GMT

TBH it would be quite difficult to get approved with AMEX with those scores, and a credit vs charge is even more difficult. Most people say the best way is to app for a charge card first, then if you get approved, app for a credit card (probably delta) immediately. I believe it would result in only one HP.

Re: AMEX Question

09Lexie — Tue, 17 Sep 2013 19:40:57 GMT

Besides the scores, what's your util? Any baddies?

Re: AMEX Question

bellrod44 — Tue, 17 Sep 2013 19:43:59 GMT

@09Lexie wrote:
Besides the scores, what's your util? Any baddies?

My util is about 20%. I'm not planning on applying for another month or so. My most recent baddie is probably 4 years old.

Re: AMEX Question

09Lexie — Tue, 17 Sep 2013 19:46:34 GMT

Most recent baddie? How many are we talking about? If you don't mind sharing.

What's your AAOA?

Re: AMEX Question

bellrod44 — Tue, 17 Sep 2013 19:53:53 GMT

I've got some baddies, probably 3-4 30 day lates, from 2008-2009 when I was out of work. Nothing late in the last 4-5 years. My AAoA is about 2-2.5 years.

Re: AMEX Question

wHiTeSoL — Tue, 17 Sep 2013 19:55:49 GMT

Like someone mentioned earlier, you scores are a little low. and your average limits aren't helping you. Besides those two points though I think you aren't in bad shape to get approved.

Re: AMEX Question

bellrod44 — Tue, 17 Sep 2013 19:57:58 GMT

@wHiTeSoL wrote:
Like someone mentioned earlier, you scores are a little low. and your average limits aren't helping you. Besides those two points though I think you aren't in bad shape to get approved.

Thank you. I appreciate it. I'm not really in need of the card, just looking to get in with AMEX. Perhaps I'll wait until my scores come up a bit. I have a mortgage with 11 payments so far, so I'm hoping that'll help, too.

Re: AMEX Question

MissCredit9 — Tue, 17 Sep 2013 19:59:20 GMT

IMO get your utilization down to no more than 5% preferrably with a balance only reporting on one card. That should increase your score slightly and put you in the best shape you could possibly be in moving forward to apply for AMEX. I have seen approvals with old baddies, but I believe it is in your best interest to appear pristine in all other aspects. Best of uck if you decide to app!

Re: AMEX Question

MissCredit9 — Tue, 17 Sep 2013 20:00:15 GMT

luck*

Re: AMEX Question

09Lexie — Tue, 17 Sep 2013 20:00:26 GMT

I would try and get a CLI on your Walmart. If approved, let your CR's update and get your util as low as possible. It still might be a stretch on the revolver.

Re: AMEX Question

WillF360 — Tue, 17 Sep 2013 20:00:35 GMT

I applied yesterday for the AMEX BLUE. My scores are in my sig, yours are just like mine. All I had was 1 secured $200 Capital One Card. I did get 2 other approvals, Discover.It and Chase Freedom, both pretty decent limits, but I don't think AMEX could see those just yet. Go to the cardmatch site to see if you get one to pop up. Amex didn't pop up for me, but still able to get it.

Re: AMEX Question

MissCredit9 — Tue, 17 Sep 2013 20:02:16 GMT

Also if you are due for any CLI's I would ask for them if AAoA is 2.5 surely something is due for an increase.

Re: AMEX Question

09Lexie — Tue, 17 Sep 2013 20:03:34 GMT

Also, your CS are over a year old; any idea if they have improved?

Re: AMEX Question

WillF360 — Tue, 17 Sep 2013 20:09:30 GMT

Forgot to note, my AAoA is between 8-12 yrs depending on which report you pull. That could have helped my case.

I'd listen to Lexie and the rest on their suggestions. Good luck!

Re: AMEX Question

bellrod44 — Tue, 17 Sep 2013 20:10:53 GMT

According to SW they are pretty much the same.

Also, I just updated my sig to reflect my CLI from BofA last month.

Re: AMEX Question

Anonymous — Tue, 17 Sep 2013 20:15:02 GMT

I would recommend apping for a charge card now. Then apping for the revolver you want come 1/2014 for backdating.

Re: AMEX Question

bellrod44 — Tue, 17 Sep 2013 20:27:27 GMT

@Anonymous wrote:
I would recommend apping for a charge card now. Then apping for the revolver you want come 1/2014 for backdating.

Which charge would you recommend? I'm not very familiar with the levels of AMEX charge cards.

Re: AMEX Question

red259 — Tue, 17 Sep 2013 20:36:16 GMT

@MissCredit9 wrote:
IMO get your utilization down to no more than 5% preferrably with a balance only reporting on one card. That should increase your score slightly and put you in the best shape you could possibly be in moving forward to apply for AMEX. I have seen approvals with old baddies, but I believe it is in your best interest to appear pristine in all other aspects. Best of uck if you decide to app!

+1 Yes, if you do move forward applyign to Amex make your credit report as neat as possible. Get any softpull CLIs you can, get your util down and only show a balance on one card. Your on the borderline so every point counts. Others have mentioned getting a charge card first to get your foot in the door. Charge cards are easier to get, but I am a big proponent of only getting what you need. That being said with your current scores I think its going to be tough getting a revolver but you never know. By way of comparison I applied for an Amex charge with a score of 699 and was turned down and they claimed my score was one of the reasons! In reality the main reasons were no open revolving accounts reporting and having had 3 recent inqs on TLs that had not appeared yet.