Around Nov 2023, I applied for a BCP and it was declined citing a low FICO EX 689. Upon Recon, I was told to apply when I have 3-6 months of AMEX payment history.
Now that I have improved my scores, I would like to apply for BCP.
I have an Amex Plat that I pay in full every month. At the moment it has a 4K balance that I am planning to pay off before the statment closes. Will that have any negative impact on application if I am to apply today?
My EX is 760
Uti is around 2%
Aaoa is 7 years
No Negative accounts. But I did screw Amex in 2016 for around 14K that I never repaid.
@CreditPoor wrote:Wait til you have a zero balance. If you owe money, there is no incentive to loan you more. Always best to have zero balance when applying for new credit
Thank you. This is what I was thinking as well.
Thank you, I plan on paying it down to zero on the 5th.
On pro-approval, I have tried their "Apply with Confidence" yet after buffering, it came back with a decline. The adverse letter cited an old FICO score of 689. From the score they had cited, I figured they used a month old pull. I could be wrong.
Elsewhere on the board, I read that odds of a revolver approval with Amex exceed once the FICO passes 720. You have far more insight into the credit game.
I would pay off the Plat first.
Why chance it?
Why wonder - "what if?"
I wonder if the previous unpaid issue is still impacting despite the plat approval. I didn't burn Amex, but was approved for my BCP with FICO 8 scores in the low 670s with a then 63mo old BK7.
@Shooting-For-800 wrote:I would pay off the Plat first.
Why chance it?
Why wonder - "what if?"
I am going to pay it down to zero. I am not carrying balance across the board. I hope it will have a different outcome this time.
@Zoostation1 wrote:I wonder if the previous unpaid issue is still impacting despite the plat approval. I didn't burn Amex, but was approved for my BCP with FICO 8 scores in the low 670s with a then 63mo old BK7.
This is precisely my worry. In their adverse letter, AMEX did not specfically cited it, but it is my inclination that AMEX is somehow still holding on to that unpaid CO particularly for a revolving product. Though their adverse letter provide little conclusive information, I will re-read the adverse letter.
