topic Re: Should I bother applying for AMEX? in Credit Cards

Should I bother applying for AMEX?

Anonymous — Wed, 15 Jan 2014 10:07:11 GMT

I tried their preapprove offers but it says "We're sorry we couldn't find a special offer for you. But based on your interests, we think you might like the following Cards..."

Does that mean I shouldn't bother to apply? I heard great things about them so I'm interested in trying it out, but I don't want to apply if my chances are low. My TU FICO is 717 with 11 months of credit history. I have a credit card with $1900 credit limit. I am a student with limited income and about $2,000 in loans. I never missed a payment before. Any opinions would be appreciated

Re: Should I bother applying for AMEX?

Anonymous — Wed, 15 Jan 2014 10:16:03 GMT

Don't worry too much about pre-approvals. They are not exactly accurate. Just because you are not preapproved doesn't mean you will be denied.

As to what your chances are, more info about your credit history is needed.

Re: Should I bother applying for AMEX?

Anonymous — Wed, 15 Jan 2014 10:20:56 GMT

What other info do you need?

Re: Should I bother applying for AMEX?

Anonymous — Wed, 15 Jan 2014 10:22:46 GMT

Utilization and number of inquiries.

Re: Should I bother applying for AMEX?

Anonymous — Wed, 15 Jan 2014 10:26:56 GMT

10% and 1

Re: Should I bother applying for AMEX?

titanofold — Wed, 15 Jan 2014 12:13:16 GMT

@Anonymous wrote:
10% and 1

Most recent derogatory? Any public records?

Re: Should I bother applying for AMEX?

killer_queen229 — Wed, 15 Jan 2014 12:30:51 GMT

If your utlitization is at 10% and 1 inquiry then I don't see why you wouldn't have a chance. I barely got in the door with them with almost 20 LOL. But my utilization was pretty good regardless.

Re: Should I bother applying for AMEX?

sghosh5 — Wed, 15 Jan 2014 12:45:36 GMT

What is your EXPERIAN FICO? AMEX pulls EXPERIAN. I would still say you should be good to get an AMEX. I recently got approved for 3 AMEX cards and my scores are pretty low, utlization is around 20% and lotssss of inquiries on EXP report. But then I was an AU with AMEX for 1 year before applying. Pre-Approval link did not bring any offer for me either.

Re: Should I bother applying for AMEX?

takeshi74 — Wed, 15 Jan 2014 13:32:41 GMT

@Anonymous wrote:
Does that mean I shouldn't bother to apply?

Not necessarily. While based on SP's, offers are just marketing and an approval or a denial is possible even with offers. Same even without offers. Are you sure you haven't opted out?

Re: Should I bother applying for AMEX?

blondy250 — Wed, 15 Jan 2014 13:52:54 GMT

I'd wait a few months, Amex likes to see a year of credit history.

Re: Should I bother applying for AMEX?

Anonymous — Wed, 15 Jan 2014 21:08:30 GMT

What card did you apply for?

I have no derogatories. This is my second credit card so I'm not really worried about inquiries because it probably wont be more than 1. I'm mainly worried because of my limited income. Is there a a minimum income requirement or anything? I'm living with my family so I don't have to pay rent or anything. And what's their easiest card to get?

I'm mostly interested in the Premier Rewards Gold Card because I wanted to travel in the near future and it doesnt limit me to just 1 carrier

Re: Should I bother applying for AMEX?

Anonymous — Thu, 16 Jan 2014 00:35:27 GMT

I would say go for it...worst case you have an inquiry and no card, really not a big deal especially considering you only have one right now.

Re: Should I bother applying for AMEX?

red259 — Thu, 16 Jan 2014 02:07:04 GMT

@blondy250 wrote:
I'd wait a few months, Amex likes to see a year of credit history.

I got a revolver and charge card after 7 months of active revolver history. I was denied a charge card with only a month or two of revolver history (but I had a couple of new accounts at the time), so I think six months is sufficient. YMMV

Re: Should I bother applying for AMEX?

red259 — Thu, 16 Jan 2014 02:09:49 GMT

@Anonymous wrote:
What card did you apply for?
I have no derogatories. This is my second credit card so I'm not really worried about inquiries because it probably wont be more than 1. I'm mainly worried because of my limited income. Is there a a minimum income requirement or anything? I'm living with my family so I don't have to pay rent or anything. And what's their easiest card to get?
I'm mostly interested in the Premier Rewards Gold Card because I wanted to travel in the near future and it doesnt limit me to just 1 carrier

How long have you had your current credit card for? What card is it?

Re: Should I bother applying for AMEX?

Anonymous — Thu, 16 Jan 2014 02:39:33 GMT

11 months. I'm thinking about waiting for 1 more month to be safe. It's a discover.

Re: Should I bother applying for AMEX?

red259 — Thu, 16 Jan 2014 03:01:37 GMT

@Anonymous wrote:
11 months. I'm thinking about waiting for 1 more month to be safe. It's a discover.

I think you would have a good shot at getting a charge card. I am unsure of a revolver (you could apply for a charge and then apply for a revolver with the positbility of getting everything in one pull). The reason being is that you only have one credit card, although one inq will not kill you at this point. If you want to wait the extra month to hit the one year mark there is nothing wrong with that, but I am unsure how much of an impact it will have on your chances. If you get a low credit line to start don't worry you will be able to grow the card fairly quickly.

Re: Should I bother applying for AMEX?

killer_queen229 — Thu, 16 Jan 2014 05:15:57 GMT

I got in with Amex after 10 months, but barely cause of all my inquiries 😜. Discover denied me credit the first time but approved me about 5 1/2 months later. Some people told me to go for it and I did.. You'll never know unless you really want to try. Didn't think id get approved for great cards. I applied for 5 and got approved by Chase, Discover and American Express but got denied by TD Bank (which is where I bank at) and denied by BOA.. If you have a decent record id just try

Re: Should I bother applying for AMEX?

newUser0 — Thu, 16 Jan 2014 05:23:55 GMT

@blondy250 wrote:
I'd wait a few months, Amex likes to see a year of credit history.

I have been declined by Amex when I had less than 1 Year of History.

As soon as I completed 1 Year , Applied again and got approved instantly.