7 days until I can app for Amex

[DeeBee78]

I was declined on September 29th for a PRG charge card. EX score was about 635-ish then. 

It looks like my score will be over 660 by next week, which seems to be a magic number for them. 

Do you think I finally have a chance? The cards I want are the PRG and EveryDay. Overall utilization is 12%, I have a couple of cards with higher than 50% utilization, as I'm leveraging some 0% APR's from Chase and Amazon. 

[OmarGB9]

Definitely better odds it sounds like. Idk what's the minimum score they like though. As a datapoint I had a 690 EX when I got my PRG a week ago. Thin file, oldest account about 3 years old, AAoA around 1 year. UTIL around 23%, a couple of cards over 50%.

[NRB525]

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@DeeBee78 wrote:

I was declined on September 29th for a PRG charge card. EX score was about 635-ish then. 

It looks like my score will be over 660 by next week, which seems to be a magic number for them. 

Do you think I finally have a chance? The cards I want are the PRG and EveryDay. Overall utilization is 12%, I have a couple of cards with higher than 50% utilization, as I'm leveraging some 0% APR's from Chase and Amazon. 

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Congratulations on the score improvement, that's good.

However, don't jump the gun. Much of the AMEX analysis of your application will be based on SP data that they have on hand. You can app as soon as your score seems to hit 660, or wait another 2 months to allow time for the SP to catchup, to let their SP catch up to your 660. It is hard to forecast when they will get around to SP your file, thus waiting may be a good tactic.

I would suggest working on paying down those balances. That recent decline (wasn't that long ago) should keep you gardening for a while yet, if your file has not changed substantially.

Also, which PRG and ED sign up bonus offer are you getting? Keep in mind, each AMEX card gives out a bonus only once in your lifetime. Making that worthwhile by getting the best offer available is an important consideration also.

Good luck when you do app.

[OmarGB9]

If OP isn't a current cardholder (not clear if they are), what does it matter when the SPs were? Amex is doing an HP anyway, and in doing so they will see the most up to date report.

[NRB525]

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@OmarGB9 wrote:
If OP isn't a current cardholder (not clear if they are), what does it matter when the SPs were? Amex is doing an HP anyway, and in doing so they will see the most up to date report.

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Do they? They do a HP to tag the account, for sure, but if a SP is weak, I think that weighs on the attempt to get an instant approval. The HP would be used on a manual review, yes, but that implies the computer was not able to approve based on the data on file... the SP data.

[OmarGB9]

Not sure how Amex works, but I'm pretty sure I've never once been SP'd by them, and cold apped last week and got approved. Plus I thought the whole point of the HP was to get the most up to date information, just in case anything had changed from the last (possible) SP, whether for better or for worse.

[B335is]

Congrats on the score improvement!! I think PRG is a very real possibility. I'd try to get your Fico closer to 680 for best chance of a revolver, but if PRG is approved, you might as well try.

[Anonymous]

I would wait  on Am Ex. My wife's score dropped to 697 during a sp and she got denied her cli the 1st time. 90 days later at 722 she got it. Was initially approved for a PRG and ED back to back, just like you want, with a 722 score.

With marginal scores if you squeak through you'll only get a $500 or $1000 limit. I would pay down those  BT cards and wait until your scores jump to the next highest bracket before you try again. See where you stand around February.

[Anonymous]

I want to say 669 is the magic EX number. This from rom having the EX monitoring product and approvals for DW and I. Fun fact 669+ rating moves you over to a "good" rating as opposed to "fair" below that. YMMV as always

[kdm31091]

I would not go for it just because your score rose to what you consider the bare minimum for the product. You are still building credit, and IIRC you have had some setbacks/denials. Which is totally normal. But these occured fairly recently. You do not have to app again a month later (actually, less than a month) just because you feel you may squeak in now.

What's the hurry? The card isn't going anywhere, I promise you. I see TV commercials for the PRG etc. It's not getting discontinued anytime soon. So there is no reason you cannot wait. People fixate on their scores a little too much, and think the second their score rises, they should be good for whatever card they want. That's not the case. Your file and your history still matter.

I'd wait this out. Anytime I was denied for a card in the past, I would wait at least 90 days and probably 6 months before trying again. For what it's worth, that's what happened with my BCE (which is now a BCP via conversion): I applied for it I believe in Jan 2014, was denied, and tried again in May 2014, and was accepted. I probably "could" have tried sooner, but haste makes waste in many cases.

Be patient. You seem to get fixated on some sort of "timer" with credit: "7 days til this app, 9 days til this CLI", etc...it doesn't work that way. Yes, there are bare minimum timeframes before one can app again. It doesn't mean it's a good idea to app as soon as that time expires!