AmEx Advice

[Anonymous]

Looking for advice on a realistic score and overall credit picture needed to for AmEx approval?? Thinking I will apply for the EveryDay card as soon as the pre-qual site shows me an offer. Just wondering what kind of wait I should prepare for. I have no inclination to apply for any additional cards just in general, and definitely not until I can get started with AmEx. I really appreciate any advice you all can offer.   

[thummel]

I don't know Amex to the full extent but I can give you a little insight. They like clean reports and I hear they also like thin files too. I only had mabye 3 cards when I got my everyday and I started at 10K on it last July. My EXP score at the time was around 740ish. I wasn't prequalified at the time either. I also had a thin file too. Hope this helps some and I'm sure others will chime in too.

[thummel]

Probably should have also added what does your current profile look like if you don't mind sharing?

[Anonymous]

From what I know AmEx likes clean thin files. I'm not that experienced though and still fairly new here. Though I'm sure others will chime in!

I had received an offer in the mail for the ED and have never seen any prequals on the site, so I used my mail offer before it expired.

At the time of apping these were my scores and such.

EQ: 723 | TU: 716 | EX: 703 | AAoA: EQ: 7.8YRs - TU: 4.8YRS - EX: 4.8YRS | HPs: 2 EQ - 1 TU - 3 EX | UTIL: 9%

Paid off car loan 2013 - last 30 day late March 2013..

Paid off 1000.00 CL 2008

Cap1 QS1 opened 09/2015... 1500.00 CL.

They pulled only EX for me here in CA. So at the time of app had 1 HP within the last 5 months from Cap1.

Approved for 5000.00 CL.

Hope this helps!

[myjourney]

---

@Anonymous wrote:

Looking for advice on a realistic score and overall credit picture needed to for AmEx approval?? Thinking I will apply for the EveryDay card as soon as the pre-qual site shows me an offer. Just wondering what kind of wait I should prepare for. I have no inclination to apply for any additional cards just in general, and definitely not until I can get started with AmEx. I really appreciate any advice you all can offer.   

---

Welcome to the forum 

Can't see your full sig but looks like you have about 6 HP over the last 2 years ....not bad 

Amex ED card score wise you should be 670+

Any baddies? 

How's your UTL?

[Anonymous]

I got in with a 647 for 2 cards. You can do it And the prefered is supposed to be harder to get.  They look at EX Fico 8. GL

[Anonymous]

Hi and thanks for such a quick response! I know this is probably a stupid question, but what does "thin file" mean?

[Anonymous]

Sorry - I thought I got it all to fit in my signature, but it appears not. 

2014 = Low - Mid 500's FICO

8/14: Merrick Bank (SL = $700, auto CLI = $1400, auto CLI = $1700)

3/15: Wal-Mart Card (SL = $1200, auto CLI = $1400) CLOSED (Replaced by Auto-Upgrade to Wal-Mart Mastercard)

10/15: Citi Best Buy Visa (SL = $2000)

12/15: Wal-Mart Mastercard (SL = $5000, 1/16 SP CLI = $8000)

12/15: Chase Freedom (SL = $3500)

12/15: The Bedroom Store (SL = $2500)

1/16: Chase SLATE (SL = $3200)

1/16: Overstock (SP w/SL = $4300)

Current Scores

2/20/16: EXP = 679

2/8/16: TU = 688

2/20/16: EQ = ???

UTI ($3500 / $25200) = ~14%

0 MIssed/Late Payments

1 Collection (medical) appearing on EXP, but am in the dispute process and am confident it will be removed.

AAoA = ~ 5 years

I should also note that the Overstock card has not reported yet ($0 balance/$4300 SL) and the recent Walmart Mastercard CLI of $3000) has not been updated. I calculated the UTI I listed above is (~14%) including that $7300 total additional credit that the bureaus don't see yet. Until those update, my UTI is at ~21%.

Hopefully this provides a better overall picture. Thanks so much for taking a look...

[Anonymous]

Hi!

UTI is currently ~21%. Once the Wal-Mart CLI of $3000 and the new Overstock Card (SP, shopping cart trick, SL = $4300) report to the bureaus, UTI will decrease to ~14%, possibly less.

1 collection account (medical) from 2011, but am in dispute process now as the debt is invalid. I am confident it well be removed within the next two weeks. And although there are several new acccounts/CLI's on my list, the Overtock was a Comenity SP and Wal-mart was an auto increase, so really only 4 HP's

Thank you for your response and any advice is greatly appreciated!

[Anonymous]

Thanks for the info!