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I would like to get in the door with AMEX and curious if you all think I have a good chance of approval for either the Gold charge card or the Gold Delta SkyMiles card and which I might be more likely to be approved for.
Before really diving into the forums, I applied for the Blue Cash Everyday and was declined in April 2019. At that time, the score AMEX pulled was 633 (Chase SWA card really helped my available credit and overall scores) with the following reasons stated for the decline.
You have a serious delinquency on one or more of your accounts.
There are too few accounts currently paid as agreed.
The length of time your accounts have been established.
The ratio of loan balances to the loan amounts is too high.
Here are my stats. All of my current TLs are PIF every month. Let me know if more info would be helpful
Fico 8:
EQ 653
TU 654
Ex 681
TLs
Chase RapidRewards Plus (opened 4/19): $381 / $4000
CapOne Platinum Secured (opened 11/18): $0 / $501
NFCU cashRewards (opened 5/19 - not reported yet): $0 / $500
Synchronicity Amazon Prime (opened 2/19): $187 / $350
CapOne QS1 (opened 4/19): $0 / $300
VW Credit Auto Loan (opened 09/18): $14700 / $15999
BADDIES:
BoA Secured Card - opened 01/10 - closed 03/14 - paid off 03/19
People Energy (TU only) - opened 10/11 - closed 07/13 - charge off 09/16
Do you have a specific need or use for either of them?
There are other options that might work better than shooting for "gold" like the ED/EDP or BCE/BCP that tend to lead you down the path easier with Amex. Also, looking at your account dates it would seem a hiatus from apps might be beneficial to boosting your scores back up into territory where Amex will give you 10K instead of 1K approvals.
Personal Opinion here but you should be solid enough to get a pre qual. I was helping a friend the other day and had him check pre quals and the Delta popped up for him and your profice is pretty similar from what I see. I would check that as a first step.
I have tried the online prequal, nothing comes up. Also, I was denied for BCE in April. They pulled a 633 from EX at that time. When my Chase SWA card reported, the $4k CL helped bring my FICOs up quite a bit.
Well, April is a key piece of info here. Depending on when you applied if you submit a 2nd app it would just get cancelled as a duplciate. If you haven't already it would be a good idea to sign up for an Experian account and get your free Fico from there or the Discover Scorecard option works as well. Make sure that your scores are up to par and then maybe June 1st apply again unless you want to call Amex and have them do a fresh pull on the exissting app if it's still within the 30 days.
@mykeys wrote:I would like to get in the door with AMEX and curious if you all think I have a good chance of approval for either the Gold charge card or the Gold Delta SkyMiles card and which I might be more likely to be approved for.
Here are my stats. All of my current TLs are PIF every month. Let me know if more info would be helpful
Fico 8:
EQ 653
TU 654
Ex 681
TLs
Chase RapidRewards Plus (opened 4/19): $381 / $4000
CapOne Platinum Secured (opened 11/18): $0 / $501
NFCU cashRewards (opened 5/19 - not reported yet): $0 / $500
Synchronicity Amazon Prime (opened 2/19): $187 / $350
CapOne QS1 (opened 4/19): $0 / $300
VW Credit Auto Loan (opened 09/18): $14700 / $15999
BADDIES:
BoA Secured Card - opened 01/10 - closed 03/14 - paid off 03/19
People Energy (TU only) - opened 10/11 - closed 07/13 - charge off 09/16
Hi and welcome to MyFICO
IMHO, I suggest holding off on applying because your credit profile is very thin and you have already opened 4 new acconts since February. That’s a lot. Any declines?
I suggest giving your cards time to age and not applying for anything else until your newest card ages to 6 months. Also, you dont want to spook Chase when they do a SP review.
GL2U
@mykeys wrote:I have tried the online prequal, nothing comes up. Also, I was denied for BCE in April. They pulled a 633 from EX at that time. When my Chase SWA card reported, the $4k CL helped bring my FICOs up quite a bit.
Okay, you have answered my question about any declines. IMHO, I think you should garden. A decline is kind of like a prewarning to step back from applying.