AMEX blue cash everyday card approval chances?

Anonymous · ‎07-28-2017

Hello all,

I'm new to this forum so thank you in advance for all the feedback!

Question about my approval chances through AMEX applying for the blue cash everyday card.

I received an prequalifying offer in the mail for $250 back when spending $1000 in first 3 months plus no apr first 15 months.

So my credit score TU 710 EQ 709 FICO 688 Vantage Score 710(think is the same as TransUnion)

I have one 90 day delinquent missed payment on my dept of ed student loans from 3/2016 that i was unaware of at the time they were due and thought they were deffered, but to later find out they were indeed not. Since then the account is in good standing as I have deffered them every since and will most likely start paying down the 40k I owe within the next few months as I just started my new fulltime job. That is the only missed payment/derogatory mark in my credit history, everything else is in perfect standing no collections etc. I read that a 90 day miss payment is just as bad as bankruptcy when lenders are looking to extend credit. So i wanted to know what kind of shape im in moving forward.

I have 13% credit usage so I was thinking about paying it down to zero before applying so that would hopefully best help my situation at the very least. No hard inquaries in the past 2 years. Has anyone had any prior instances when they had gotten approved with a 90 day delinquent missed payment on their report?

All Feedback is appreciated. Thanks again!

Anonymous · ‎07-28-2017

I think your chances are very good especially with a pre-qualifying offer, I would however bring utilization down below 3% before applying, worth about another 5-10 points on your score.

Anonymous · ‎07-28-2017

@Anonymous wrote:
I think your chances are very good especially with a pre-qualifying offer, I would however bring utilization down below 3% before applying, worth about another 5-10 points on your score.

I'm in the same boat of debating to apply with Amex or not. 4 months ago I was not eligible for a pre-qual and now I am. But what oldman87 is true. Dropped my Utilization from 13% to 7-8% on my one Cap1 Secured card and instantly went up 9 points that statement period and it's still there...now Amex shows me 3 cards I am eligible for although Blue Cash is the only one that interests me. So yeah, drop your utilization to increase your chances.

Total80sKid · ‎07-28-2017

Also remember that just because you aren't pre-qualified, doesn't mean you won't get the card you want.

AMEX: $1k
Chase FU: $2k
Discover: $7k
Citi Costco Anywhere: $4k

I was not pre-qualified for any of those.

So far, Merrick has been the only one to pre-qualify me.

Anonymous · ‎07-28-2017

@Anonymous wrote:
Hello all,

I'm new to this forum so thank you in advance for all the feedback!
Question about my approval chances through AMEX applying for the blue cash everyday card.
I received an prequalifying offer in the mail for $250 back when spending $1000 in first 3 months plus no apr first 15 months.
So my credit score TU 710 EQ 709 FICO 688 Vantage Score 710(think is the same as TransUnion)
I have one 90 day delinquent missed payment on my dept of ed student loans from 3/2016 that i was unaware of at the time they were due and thought they were deffered, but to later find out they were indeed not. Since then the account is in good standing as I have deffered them every since and will most likely start paying down the 40k I owe within the next few months as I just started my new fulltime job. That is the only missed payment/derogatory mark in my credit history, everything else is in perfect standing no collections etc. I read that a 90 day miss payment is just as bad as bankruptcy when lenders are looking to extend credit. So i wanted to know what kind of shape im in moving forward.
I have 13% credit usage so I was thinking about paying it down to zero before applying so that would hopefully best help my situation at the very least. No hard inquaries in the past 2 years. Has anyone had any prior instances when they had gotten approved with a 90 day delinquent missed payment on their report?

All Feedback is appreciated. Thanks again!

From my daughter's experience------

Fresh out of college, with moderate school loans. Just one Cap1 card, SL 500 for two years. Her Ex was around 710. Since her SL was only 500, her utilization was high. She applied for Delta Gold ang got instant 10000. I assume underwriting standard among Amex revolvers are almost same.

Anonymous · ‎07-28-2017

I'd say you're good to go with that card. I got approved with many lates from the past and my last late was a year ago. My FICO 8's are about 640 across the board. Low utilization at 2% and few inquiries. On top of the pre approved mailers you got, see if you're pre approved on their site as well. If you are then I say go for it!