American Express with Ch 7 BK, and High Inquiries? Is it possible?

[Anonymous]

1) Is it Possible to qualify for any of the American Express Cards with a CH 7 Bankruptcy discharged 3 years ago and 12 Inquiries in the last 12 months? Is so, which one will give me the best chance of approval?

2) I have a start up business Oct '14, Is it possible to qualify for a corporate/ business AmEx account if I'm the guarantor with above mentioned? Again, if so, which of their cards will offer me the best chance to get approved?

Thanks

[Creditaddict]

I would say the Preferred Rewards Gold Charge would be your best bet.

If they were not in your BK originally as of late it looks like you might have decent chance.

[Anonymous]

Thanks. I may just give it a try. I gotta see how the rest of my apps play out this week. I may just wait till I do the next round of apps. Will let you know soon what I do.

thanks again

[TRC_WA]

3 years is probably too soon with a BK.  The INQs could also be an issue depending on how many you have on EX.

I've read that AmEx likes to see 5 years after filing if you didn't burn them.

I can also say that I can back up that statement because I was declined in 2013... 4 years after I filed a BK13.

I was approved in 2014... 5 years after filing.

[Deltadog03]

Thanks for asking. 😃. I was gonna ask for my case. 2 years post, didn't burn them and have a pretty decent EX score with 6 inq effecting my score. 

[Anonymous]

Looks like I'mm waiting,a couple of more years. Just curious. Do you think it should be be 5 years after filing? Or after Discharge? I guess I could wait till after discharge to be safe but I was just curious?thanks

[Creditaddict]

I think it's worth an EX burn... just apply... if denied you know to wait till 5 years I would say but we have seen some "off" approvals for amex lately if you ask me... they are not as strict as many like to think!

[Anonymous]

Okay, will consider it. Will decide here in the next couple of days. I guess it all depends on my "Emotional Disposition" after I get my answer from Wells Fargo next week and also from my Quicksilver application  after I call cap 1 for recon.

i may be euphoric and feeling bulletproof if I get approved by both of them and will want to go for the Amex or

I may feel "mad" that I didn't get them and will want to apply to Amex just in case I get it, I will feel vindicated. Or

i may feel depressed that I didn't get them and will want to apply to Amex just in case I get it I will feel better. Or..... I guess it sounds like I'll be applying doesn't it?

well, if I do, I'll post here what happens. Should be in a few days time.  

Thank you you all for you input.

[Deltadog03]

Do you think my EX score is high enough?  675 is my EX score and like 680 the bankcard version.  I am 25 months post BK.  GREAT re-build after and Util around 13-15%.  Also, what card is the "easiest" to get?  a NO Annual fee one from them.  I would expect I would have to recon...How is Amex with that, and what number is best to call?  Thanks bud!

[Anonymous]

Those are all excellent questions that I want to know myself. Hopefully some of our far more experienced friends in this forum will provide those answers. I don't know why? But since I started rebuilding my credit 3 years ago I look at an Amex card as an aspiration card. Something that says that if I'm able to get one it means that I have been successful in rebuilding my credit. I don't know if that's right or wrong but it just feels to me that they have a much higher bar than visa and M/C which I've always known I could get some sort card even with bad credit. But frankly up until I joined these community I never thought I could have one. Now I know I can. If not now, sometime down the road but I am sure now that I will have one.