topic Re: Amex Everday new easiest revolver? Success stories, please! in Credit Cards

Amex Everyday new easiest revolver? Success stories, please!

nitrov — Fri, 28 Mar 2014 17:31:16 GMT

Hi, I've had an Amex PRG for about 4 months and really want a revolver. I see a few success stories on approvals, but am trying to get some background on the scores people have that are getting approved for the new Everyday card. Is this one possibly easier to get than a BCE card? I'm trying to figure out the easiest revolver to get my foot back in the door with them on that side. I've been a cardmember since 2007. My EX score according to USAA/Experian monitoring is a 708, but I have a lot of inquiries from December 2013.

Any recommendations or experiences?

Thanks!

Re: Amex Everday new easiest revolver? Success stories, please!

Anonymous — Thu, 27 Mar 2014 17:55:30 GMT

I was approved yesterday

Re: Amex Everday new easiest revolver? Success stories, please!

elbori357 — Thu, 27 Mar 2014 18:33:05 GMT

@Anonymous wrote:
I was approved yesterday

How many inqs do you have in your profile?

Re: Amex Everday new easiest revolver? Success stories, please!

nursepower — Thu, 27 Mar 2014 19:56:35 GMT

I was declined. Even after calling in. However I do have a TON of inquiries.

Re: Amex Everday new easiest revolver? Success stories, please!

CalAlumnus13 — Thu, 27 Mar 2014 21:05:36 GMT

How many is a ton? I was approved for the ED with 9 EX inquiries in the past year (two Amex, two for a single car loan), a week after being approved for the PRG and HHonors.

Re: Amex Everday new easiest revolver? Success stories, please!

nursepower — Thu, 27 Mar 2014 21:06:19 GMT

Re: Amex Everday new easiest revolver? Success stories, please!

CalAlumnus13 — Thu, 27 Mar 2014 21:07:11 GMT

Wow, that is a ton!

Re: Amex Everday new easiest revolver? Success stories, please!

Kris1228 — Fri, 28 Mar 2014 02:26:21 GMT

Approved today myself

Re: Amex Everday new easiest revolver? Success stories, please!

Ron1 — Fri, 28 Mar 2014 02:43:35 GMT

I got approved two days. I had 15 INQs. I had to close one of my Amex credit cards to get approved.

Ron.

Re: Amex Everday new easiest revolver? Success stories, please!

newUser0 — Fri, 28 Mar 2014 02:54:29 GMT

@Ron1 wrote:
I got approved two days. I had 15 INQs. I had to close one of my Amex credit cards to get approved.

Ron.

Which one you closed out ron? Congrats on approval...

Re: Amex Everday new easiest revolver? Success stories, please!

Open123 — Fri, 28 Mar 2014 03:13:23 GMT

I was approved with 20.

Re: Amex Everday new easiest revolver? Success stories, please!

nitrov — Fri, 28 Mar 2014 14:27:33 GMT

Can you guys give me some other data points like credit score too? I'm surprised how forgiving they're being with these large numbers of inquiries.

Re: Amex Everday new easiest revolver? Success stories, please!

nitrov — Fri, 28 Mar 2014 14:28:13 GMT

@nursepower wrote:
25

Was the decline reason they gave you solely based on the number of inquiries?

Re: Amex Everday new easiest revolver? Success stories, please!

Anonymous — Fri, 28 Mar 2014 14:34:13 GMT

I was approved - only got my PRG and BCE back in late January (applied for the EDP on my 61st day as I'd prefer to have the increased limit on it).

My profile at Apping:

Experian FAKO: 734

AAoA: 2yrs, 3 months (mostly from the backdating from the AMEX from my Australian accounts), newest account 8 months.

INQs: 6 on EX.

Open Tradelines: 3

Total CL: $4500

Pulled: EX of course.

Limit Given: $2000

Re: Amex Everday new easiest revolver? Success stories, please!

nitrov — Fri, 28 Mar 2014 14:45:52 GMT

@Anonymous wrote:
I was approved - only got my PRG and BCE back in late January (applied for the EDP on my 61st day as I'd prefer to have the increased limit on it).

My profile at Apping:
Experian FAKO: 734
AAoA: 2yrs, 3 months (mostly from the backdating from the AMEX from my Australian accounts), newest account 8 months.
INQs: 6 on EX.
Open Tradelines: 3
Total CL: $4500

Pulled: EX of course.
Limit Given: $2000

Thanks for the solid info. I have a lot of new accounts from an app spree back in December (the reason why I got all the inquiries) and some of them have balances right now. I'm paying them down significantly this month and hoping to app for this card in late April or early May.

What's this about the 61st day for an increased limit you mention?

Re: Amex Everday new easiest revolver? Success stories, please!

Jlu — Fri, 28 Mar 2014 15:14:47 GMT

This new AMEX card is apparently using the same underwriting criteria as the discontinued Zync product. Therefore it will not be uncommon to hear of sub-700 FICOs getting approved. The Zync was an attempt to target a younger generation, but the concept of a charge card is unforunately a foreign concept to most 18-25 year olds. This will be AMEX's new attempt to attract this demographic.

Re: Amex Everday new easiest revolver? Success stories, please!

improvingmycredit — Fri, 28 Mar 2014 15:32:16 GMT

@Jlu wrote:
This new AMEX card is apparently using the same underwriting criteria as the discontinued Zync product. Therefore it will not be uncommon to hear of sub-700 FICOs getting approved. The Zync was an attempt to target a younger generation, but the concept of a charge card is unforunately a foreign concept to most 18-25 year olds. This will be AMEX's new attempt to attract this demographic.

Hey Jlu!

I'm thinking the jury is still out on this one regarding UW criteria. From what I've read, they are going after the everyday spend of "soccer mom's" and regular family spend. I'm curious to see how this unfolds with average FICO. I'm guessing it's going to fall in the 680 or a little higher range as an average. Just my guess.

Re: Amex Everday new easiest revolver? Success stories, please!

Jlu — Fri, 28 Mar 2014 15:36:05 GMT

From what I understand thus far > 680 FICO with average income is congrats you're approved territory. 630-680 FICO with extraordinary income/assets are strongly considered.

So no, I don't think we'll be hearing about a 640 FICO making 45,000/year being approved. But that same 640 FICO making 110,000/year is a different story.

Re: Amex Everday new easiest revolver? Success stories, please!

improvingmycredit — Fri, 28 Mar 2014 15:49:22 GMT

@Jlu wrote:
From what I understand thus far > 680 FICO with average income is congrats you're approved territory. 630-680 FICO with extraordinary income/assets are strongly considered.

So no, I don't think we'll be hearing about a 640 FICO making 45,000/year being approved. But that same 640 FICO making 110,000/year is a different story.

Hey!

You really think so? I saw Zync approvals in this FICO range but with much lower incomes due to the demographics targets. I'm curious to see if this holds true for this card. Amex says they are trying out something new with this card so I can't wait to see how this pans out. Typically, revolvers are harder to get than their Charge products. I wanna see where this one falls.

Re: Amex Everday new easiest revolver? Success stories, please!

nitrov — Fri, 28 Mar 2014 16:10:07 GMT

@improvingmycredit wrote:
@Jlu wrote:
From what I understand thus far > 680 FICO with average income is congrats you're approved territory. 630-680 FICO with extraordinary income/assets are strongly considered.

So no, I don't think we'll be hearing about a 640 FICO making 45,000/year being approved. But that same 640 FICO making 110,000/year is a different story.
Hey!
You really think so? I saw Zync approvals in this FICO range but with much lower incomes due to the demographics targets. I'm curious to see if this holds true for this card. Amex says they are trying out something new with this card so I can't wait to see how this pans out. Typically, revolvers are harder to get than their Charge products. I wanna see where this one falls.

This is really interesting to me. Since Zync was a charge card, I understand the more lax UW criteria, but since this new Everyday card is a revolver, I would be surprised if they approved something in 640 territory even with good income. My EX score according to USAA monitoring (which is from EX) says it's a 708 but I'm afraid to do the app with Amex until I know for sure the FICO will come back over 700. I just got my PRG early January so I want to make sure I'll get approved when I app for Everyday since I know Amex recon is essenially nonexistent.