topic Re: American Express - Need Advice in General Credit Topics

American Express - Need Advice

CaptainConcorde — Sat, 23 Jun 2007 21:26:35 GMT

Hello, I'm looking to apply for an American Express card but am not sure which card has the best chance of being approved.

Transunion FICO - 673

Equifax FICO - 670

Experian FICO - 671

My FICO scores from all three are nearly identical (pulled today from this website).

I have a BK from 2/2001 that discharged with no lates since, no collection accounts of any kind and have about 65% credit utilization on my other credit cards. I'd like to know which AMEX cards are "easier" to get so I can pick from one of them rather than make a mistake and apply for a high level one requiring 800+ scores.

Thanks, ErikArizona

Re: American Express - Need Advice

Tuscani — Sat, 23 Jun 2007 21:28:24 GMT

Welcome! The easiest are Delta Gold, HHilton and Starwood. Your BK could be an issue. PS.. they are pulling EX these days.

Re: American Express - Need Advice

CaptainConcorde — Sat, 23 Jun 2007 21:31:24 GMT

Thank you Tuscani for the super-fast reply! (under two minutes!)

How far back will they normally look at a BK any idea? I know last year when I applied for a BofA Visa they turned me down because of a BK on the record (and said they always would not even approve a secured card). After the BK I had secured cards a few years but they all rolled over to unsecured now and I'm very timely with my payments. How much of a problem do you think the BK would be? Would calling them and applying give me a better chance then doing an online application? I'm not looking for a huge limit just to get my foot in the door so to speak.

Thanks, ErikArizona

Re: American Express - Need Advice

Tuscani — Sat, 23 Jun 2007 21:36:40 GMT

It's hard to say.. I have been seeing more approvals than denies for those who have applied with a BK. Yours is pretty old so I suspect you are ok. I would try for the Delta first (online). If approved, try for the HHilton or Starwood. There has been talk that the Starwood has a more generous initial credit line. Good luck! Keep us updated

PS... don't apply if Amex was part of your BK.

Message Edited by Tuscani on 06-23-2007 04:36 PM

Re: American Express - Need Advice

CaptainConcorde — Sat, 23 Jun 2007 21:39:27 GMT

Tuscani,

Would applying for the Delta then the HH or SW right afterwards be an issue? Or do they automatically close the previous one? I only have two inquiries in the last year so don't want to run a bunch of those. How long should I wait assuming the Delta is approved before applying for the others? I saw the Starwood card and it looks best for me (I travel for work too but don't fly Delta but do like Starwood hotels).

Thanks, ErikArizona

Re: American Express - Need Advice

Tuscani — Sat, 23 Jun 2007 21:42:35 GMT

ErikArizona wrote:

Tuscani,

Would applying for the Delta then the HH or SW right afterwards be an issue? Or do they automatically close the previous one? I only have two inquiries in the last year so don't want to run a bunch of those. How long should I wait assuming the Delta is approved before applying for the others? I saw the Starwood card and it looks best for me (I travel for work too but don't fly Delta but do like Starwood hotels).

Thanks, ErikArizona

Right after is fine.. and doing them back to back (I recommend the Delta first) should only cost you one Inq. Remember, the 2nd app may not be instant, but you should hear something a few days after (you can check the status online).

Re: American Express - Need Advice

CaptainConcorde — Sat, 23 Jun 2007 21:58:50 GMT

Thank you for your recent application for the Gold Delta SkyMiles® Credit Card from American ExpressS:TRIM . We do value your desire to establish a relationship with us. We regret that we are unable to approve your request for the following reason(s):
Information received from Experian Consumer Reporting Agency (See below)
The factors provided by the consumer reporting agency that affected our decision are:

Bankruptcy

OK they denied it because of the BK.....

I'll just keep working at it and apply in December. I hope to be over 700 by then and hopefully that will be enough. I am going to call them though and ask them what weight a six year old BK has when I've been perfect since. Maybe they have a BofA type policy with no BKs ever? I'll see I guess.

The glass is always half full for me so this is just a minor disappointment. I will get one of those AMEX cards eventually! Just have to keep doing what I'm doing. Looking at the 472 I was at after the BK and the scores now I've already climbed most of the mountain.

ErikArizona

Re: American Express - Need Advice

Anonymous — Sat, 23 Jun 2007 22:35:57 GMT

With your great attitude I'm sure things will keep improving. It's really nice to see.

Re: American Express - Need Advice

Anonymous — Sat, 23 Jun 2007 22:56:15 GMT

ErikArizona wrote:
Hello, I'm looking to apply for an American Express card but am not sure which card has the best chance of being approved.

Transunion FICO - 673
Equifax FICO - 670
Experian FICO - 671

My FICO scores from all three are nearly identical (pulled today from this website).

I have a BK from 2/2001 that discharged with no lates since, no collection accounts of any kind and have about 65% credit utilization on my other credit cards. I'd like to know which AMEX cards are "easier" to get so I can pick from one of them rather than make a mistake and apply for a high level one requiring 800+ scores.

Thanks, ErikArizona

From my pers experience I would wait till your bankruptcy is discharged. My scores got up to a average of 680 and stayed there for 4-5 months then my bankruptcy came off as well as all the bad info on the accounts associated and bam my scores went up to 730-745 range. I then applied for a BOA card and got a 3000 limit. When the card came I registered the account online and asked for a 2000 credit increase and they approved it. I also got a 7000 Union Plus card as well. The only down points were the inq cost me 19 pts but hopefully the large credit lines will bump my score back up and in the 760's. The fact is some creditors see the word bankruptcy on your report and get freeked out and others don't care because now with all the rule changes there's a good chance you wont be able to apply for it again so your stuck owing them whatever you charge

Re: American Express - Need Advice

Tuscani — Sun, 24 Jun 2007 00:32:17 GMT

You could try reconn

Re: American Express - Need Advice

smallfry — Sun, 24 Jun 2007 00:36:40 GMT

Wish I had seen the post sooner I could have saved you the inquiry (inquiries). I have a BK 7 from mid 2000 scores were higher than yours utilization lower declined for the BK as well. From what I hear AMEX is getting to be one swift pain in the you know what lately. Let'em choke on their plastic. Tell ya what. I got a CITI Mastercard the Platinum Select. No AF my rate was middle to high at 15.24. Low as 10.24 APR. I got a 3K line to start. CITI is a nice prime card. Why not give them a shot? Lots of peeps love CITI. Good luck.

Re: American Express - Need Advice

Bruiser — Sun, 24 Jun 2007 01:10:30 GMT

i applied on the 19th and got denied to a bk

i called them and had a supervisor look it over, he said no because of bk

i sent them a letter and I'm waiting for a response,....i'm not going to give up very easily

but the bk is bad in the eyes of amex

Re: American Express - Need Advice

smallfry — Sun, 24 Jun 2007 01:15:01 GMT

I don't need AMEX that bad.

Re: American Express - Need Advice

Anonymous — Sun, 24 Jun 2007 01:16:49 GMT

I applied on the 12th and was denied called reconn they notified me on the 21st that they was going to stick to their guns and not approve me because of the bk from 2001. I give up!!!!! they can keep it. Credit scores are all in the 700's what more can they ask for....

Re: American Express - Need Advice

Bruiser — Sun, 24 Jun 2007 01:17:02 GMT

smallfry wrote:
I don't need AMEX that bad.

hey, they smacked me with a hard inq,..i'm going to fight for that point dropper

the little things add up, especially when you're trying to rebuild your credit

Re: American Express - Need Advice

Anonymous — Sun, 24 Jun 2007 03:00:02 GMT

Ok, I have another question that is sort of related to this. I already have an Amex Gold card that I have taken good care of through my last couple of years of financial hardship...( had a business go bad with lots of debts...all retired now but my credit score suffered while I got through it robbing peter to pay paul)...now coming out of this the kind folks at Amex sent me a You are PreApproved for a Platinum Card...? If so will this help me or hurt me to accept?....The status quo is fine but if accepting this raises the credit limit (which with amex im never aware of) then that would obviously help.

ideas?

Re: American Express - Need Advice

Anonymous — Sun, 24 Jun 2007 03:04:18 GMT

@Anonymous wrote:
Ok, I have another question that is sort of related to this. I already have an Amex Gold card that I have taken good care of through my last couple of years of financial hardship...( had a business go bad with lots of debts...all retired now but my credit score suffered while I got through it robbing peter to pay paul)...now coming out of this the kind folks at Amex sent me a You are PreApproved for a Platinum Card...? If so will this help me or hurt me to accept?....The status quo is fine but if accepting this raises the credit limit (which with amex im never aware of) then that would obviously help.
ideas?

Do you still have the AMEX Gold card? If you get another card, it'd help with your utilization and overall available credit. You may take a hit in the short run because of the new account & inq... but the overall scores should increase due to another positive TL being added, granted it's paid on time..

Re: American Express - Need Advice

smallfry — Sun, 24 Jun 2007 03:08:41 GMT

If you're that concerned about the inquiry bump the derned thing. After two denials what kind of CL will you get from them at this point anyway? Try one of the credit unions. Probably get a line ten times what AMEX would give you and you wouldn't have to face the possible embarrassment of being declined at the pos. I wanted an AMEX a month ago myself but I've heard too much nonsense lately. They can keep their cards.

Re: American Express - Need Advice

Anonymous — Sun, 24 Jun 2007 03:20:06 GMT

Well that's not exactly what I meant....they want me to UPGRADE to a Plat card.....I still have the Gold in good standing I spend about $900/mo on it and keep it current....but since its amex what diff would a Plat vs a Gold card make...if none...I see no reason to change what I've got..

Re: American Express - Need Advice

Anonymous — Sun, 24 Jun 2007 03:23:21 GMT

If they are going to give you a larger CL ...it helps your util. And that will bump your score some.