topic Re: AMEX Green "in progress" with FICO 609 in Credit Cards

AMEX Green "in progress" with FICO 609

rubbinitout — Tue, 25 Mar 2014 19:08:28 GMT

Quick background on myself:

I have three charge-offs from 2010 on my profile - two are private student loans from SM and the third is an old Bank One/Chase Disney Visa. I am an AU on a Chase Freedom card with my wife since 2011, but no other revolving credit. I decided to go all-in and apply for an AMEX in my quest to reestablish a decent credit profile.

Initially they denied me, and of course the primary reason listed was the charge-off accounts. Also, my FICO was pulled at 609. Anyway, I decided to write a letter to Andrew Skinner (VP of new accts) explaining the circumstances of my past history and reasons why now is the right time to enter into a mutually beneficial relationship and reestablish myself with AMEX. Some of these include finally in high salary job, entered into payment plans for neg accts, etc. I even sent a copy of my W2.

I recently checked the status, and it has now updated from "denied" to "in progress." Do you think I have better than a 10% chance in actually receiving an approval for this card? Or will I inevitably receive a second NO again?

Any color commentary from others would be nice... thanks!

Re: AMEX Green "in progress" with FICO 609

yudeology101 — Tue, 25 Mar 2014 19:14:42 GMT

I'm really pulling for you on this one, but coming from 10+ apps just to get my foot in the door w/ AMEX, your chances are pretty slim as AMEX rarely overturns their decision unless there are any errors in your report. Many of my past apps have been gone through the EO before, and i've seen the "declined" to "in progress" but it was very unfortunate that they all ended up being turning into "declined"....YMMV though, i'm pulling for ya and keep us updated as i would like to know the outcome of this.

IMHO, your scores are pretty low for any AMEX cards right now, and your chargeoffs may seem pretty new to AMEX still (although it's about 4yrs old). Best of luck to you.

Re: AMEX Green "in progress" with FICO 609

Anonymous — Tue, 25 Mar 2014 19:19:46 GMT

I would probably say it's going to be a no. Your FICO score is a little low for an AMEX and the baddies are still pretty recent in AMEX's eyes.

Re: AMEX Green "in progress" with FICO 609

TheGardner — Tue, 25 Mar 2014 19:25:03 GMT

As unlikely as it is I really hope you get it. Would kind of take the heartless mechanics out of Amex lol

Good luck bud

Re: AMEX Green "in progress" with FICO 609

yudeology101 — Tue, 25 Mar 2014 19:29:53 GMT

Well, there's was a member who was approved for the Green like a month ago w/ around 590ish FICO score....as so the member said...still trying to find that thread.

Re: AMEX Green "in progress" with FICO 609

rubbinitout — Tue, 25 Mar 2014 19:30:00 GMT

Thanks for the quick replies - I'll definitely update this thread as the decision is rendered.

I suppose someone somewhere has sweet-talked their way into an approval that shouldn't have occurred, right?

Re: AMEX Green "in progress" with FICO 609

Gornet — Tue, 25 Mar 2014 19:35:15 GMT

Is the green card a good intro card for students who never had a cc before?

Re: AMEX Green "in progress" with FICO 609

Anonymous — Tue, 25 Mar 2014 19:40:00 GMT

@Gornet wrote:
Is the green card a good intro card for students who never had a cc before?

It can be if you are a little intimidated right now by credit as it forces you to PIF every month. Allowing you not to be worried about carrying a balance and going into debt.

Re: AMEX Green "in progress" with FICO 609

Transmogrifying_Bee — Tue, 25 Mar 2014 20:34:29 GMT

Although on the very low end, a credit score of around 609 is not impossible for obtaining the Amex Green card. Statistics on Credit Karma indicate that 7% of successful applicants for the Green card had credit scores of 600 or LESS (1560 people sample size). Unfortunately, the three fairly recent charge-offs are another matter . . . !

Re: AMEX Green "in progress" with FICO 609

elbori357 — Tue, 25 Mar 2014 20:39:18 GMT

@yudeology101 wrote:
I'm really pulling for you on this one, but coming from 10+ apps just to get my foot in the door w/ AMEX,

Hello yudeology,

Could you elaborate on the "coming from 10+ apps to get in" part?

The reason why I ask is that I have applied 2 times for the BCE card and both times have been decline. I do not know the real reason( letter said based on my low EX credit score). Not sure if I should continue to apply until approval or plain give up. Now I don't care much for the BCE, now I would like their new one. I applied the first time in Jan 2013 and the second time on a spree in Feb 2014.

Thoughts

Thanks

Re: AMEX Green "in progress" with FICO 609

Pat94108 — Tue, 25 Mar 2014 20:55:41 GMT

I am pulling for you as well. And like someone said it, based on Credit Karma some people have been approved with lower scores so keep the faith but don't get your hopes too high though.

Re: AMEX Green "in progress" with FICO 609

Ron1 — Tue, 25 Mar 2014 21:39:11 GMT

Good luck!!!

Ron.

Re: AMEX Green "in progress" with FICO 609

eagle2013 — Tue, 25 Mar 2014 22:07:28 GMT

If income is high you'd have a shot at the green.

Re: AMEX Green "in progress" with FICO 609

TiggerDat — Wed, 26 Mar 2014 03:34:56 GMT

Good luck!!!

Re: AMEX Green "in progress" with FICO 609

dodgerslv — Wed, 26 Mar 2014 03:38:53 GMT

good luck OP and keep us updated!!

Re: AMEX Green "in progress" with FICO 609

rubbinitout — Wed, 26 Mar 2014 13:55:08 GMT

Thanks everyone...

I remember back in 2011, AMEX offered me a "secured" version of their Green card by purchasing a $10k CD for a year and then adding funds as a secured amount. I did not have the resources for that then, but wish they offered it now!

Anyone take advantage of that?

Re: AMEX Green "in progress" with FICO 609

Anonymous — Wed, 26 Mar 2014 14:16:40 GMT

@rubbinitout wrote:
Thanks everyone...

I remember back in 2011, AMEX offered me a "secured" version of their Green card by purchasing a $10k CD for a year and then adding funds as a secured amount. I did not have the resources for that then, but wish they offered it now!

Anyone take advantage of that?

Does Amex even do that, (like secured thingy)?

Re: AMEX Green "in progress" with FICO 609

budugu — Wed, 26 Mar 2014 17:16:16 GMT

@eagle2013 wrote:
If income is high you'd have a shot at the green.

+1 ; I think you might have a change ... esp with a high salary.

Re: AMEX Green "in progress" with FICO 609

rubbinitout — Thu, 27 Mar 2014 16:39:34 GMT

Well...

Just checked the status of my app, and now it reads "DECLINED." I tried to view the reason but it did not load anything - guess I'll need to wait for the letter.

Should I attempt one more recon with a call, or just wait it out and go after secured cards?

Re: AMEX Green "in progress" with FICO 609

Ron1 — Thu, 27 Mar 2014 16:52:56 GMT

@rubbinitout wrote:
Well...

Just checked the status of my app, and now it reads "DECLINED." I tried to view the reason but it did not load anything - guess I'll need to wait for the letter.

Should I attempt one more recon with a call, or just wait it out and go after secured cards?

Sorry to hear!!!!

Ron.