Amex Chances (Meh Credit, High Income)

[Anonymous]

I screwed up my credit back when I didn't make a lot of money, carrying balances and I got popped with a few collections for things like medical bills and an unpaid utility bill.

All told I've got about 12k of CC debt (15k total limit across multiple cards) I'm slamming down on hard right now, and ideally will have completely paid off by the end of August.

I've been trying to get an Amex for ages now, and I'd happily settle for just a Green card, if nothing better. I basically intend to use it in place of my debit card for all my main purchasing throughout a month and smack it down to 0 on dueday, every single time.

My experian FICO is sitting at just barely 630 right now, but I'm pulling down over 200k a year USD.

I think my credit score will improve massively once I'm not sitting at like 80% utilization, but I (stupidly) pulled the trigger on applying for a Green card last week.
They denied, but I called in and asked for a recon.
Gotta wait until Monday to find out, but do y'all think there's a decent chance, even with my credit being crap, that they'll see the income and go "yeah okay we want her as a cardholder"?
Avg age of accounts is 3 and a half years, 0 missed payments on the cards and my 2 auto loans themselves, last screwup was a bill 4 years ago (and paid off).

[Pikaboo-icu]

Welcome to My Fico   

Sorry but with that uti, the chances are slim.

Yes, you have the income but they will wonder: "with that income why your cards are at 80% uti and in addition have a couple derogs"..

I would pay that uti way down- and then try again.

Good Luck.. 

[Anonymous]

Thanks for the welcome, and the heads up!

Bummer to hear but I figured that'd be the situation. I mean, we'll see on Monday but I don't have my hopes up.

I guess pay everything off, wait a month for everything to catch up and report as not terrible anymore, and then try again (or rather, start checking the pre-approval link every few months)?

[Gmood1]

Once denied, it's 90 days before you can apply again under normal circumstances.
Your scores should really jump after paying down the debt to 9% or less.

Allow at least one card to report a balance, so not to ding your scores.

[Anonymous]

Why does it have to be an American Express?  Why not an NFCU Visa?

Your credit score rises slow and falls quick.  Are you looking for a statement card which shows people what your annual income is?  That's kinda bluffing if you have a low credit score.

Pay off your current CC debt with your high income and don't worry about prestigious credit cards.  AmEx cards are not accepted at many retail establishments.  Yes, I have one coming in the mail but I realize it's much like RayBan Wayfarers when Miami Vice was a huge hit.  No, I'm not buying a Delorean with my AmEx.

[Anonymous]

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@Anonymous wrote:

Why does it have to be an American Express?  Why not an NFCU Visa?

Your credit score rises slow and falls quick.  Are you looking for a statement card which shows people what your annual income is?  That's kinda bluffing if you have a low credit score.

Pay off your current CC debt with your high income and don't worry about prestigious credit cards.  AmEx cards are not accepted at many retail establishments.  Yes, I have one coming in the mail but I realize it's much like RayBan Wayfarers when Miami Vice was a huge hit.  No, I'm not buying a Delorean with my AmEx.

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It's stupid, but it's more of a statement to myself that I finally got my **** together.

A friendly reminder every time I look in my purse that I'm a long way away from my days of couch surfing and begging for scraps.

I realize there are significantly less stupid ways of going about it, but it's the one card I don't currently hold, and I'm something of a completionist, I guess. I've got visa, MC, Discover, but no AmEx. (I'm aware I'm also missing DC, UP, etc, but those aren't exactly something you typically come across in the states anyway.)
90 days... got it. Seems like that'll be more than enough time to start reporting well under 10% utilization.

[Anonymous]

Don't take it personal.  I come off as abrasive sometimes.  I live at the coast.  I ride a bicycle everywhere.  I wear t-shirts and board shorts.

I see many women walking down Ocean Blvd in stilettos and what they think is evening wear which mimics "The Real Housewives Of".

I don't know you from Adam but I just kinda react to some posts.  I'm not good at getting likes.

[Pikaboo-icu]

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@Anonymous wrote:

Don't take it personal.  I come off as abrasive sometimes.  I live at the coast.  I ride a bicycle everywhere.  I wear t-shirts and board shorts.

I see many women walking down Ocean Blvd in stilettos and what they think is evening wear which mimics "The Real Housewives Of".

I don't know you from Adam but I just kinda react to some posts.  I'm not good at getting likes.

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[Anonymous]

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@Anonymous wrote:

Don't take it personal.  I come off as abrasive sometimes.  I live at the coast.  I ride a bicycle everywhere.  I wear t-shirts and board shorts.

I see many women walking down Ocean Blvd in stilettos and what they think is evening wear which mimics "The Real Housewives Of".

I don't know you from Adam but I just kinda react to some posts.  I'm not good at getting likes.

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Personal? Dude, abrasive is my middle name, haha.
I might be a Southern girl now but I'm Jersey through and through. 
That's our lifesblood right there.

Don't you worry about it. I find that angry and abrasive folks are the best ones to drink with. My kinda people.

> stilettos and what they think is evening wear which mimics "The Real Housewives Of".

Oh god don't even get me started on that crowd.

I work in tech. I'm a geek who's greatest joy in life is tearing down a highway at 3 am going well over any sane speed in my bare bones bottom of the line stick shift mustang. I wear sneakers until they fall off my feet, and keep my wardrobe pretty basic. Death metal t-shirts, comfortable jeans, hoodies. I have 0 desire to bare my wealth, so to speak. 

My biggest reason for a charge card is to earn some kind of rewards while keeping my spending well in check.

Having to pay in full every month will help keep me from going overboard ever again.

[Shadowfactor]

I would try the prequalified site before applying again.

Amex recons don’t usually have positive results and it’s another HP.

Get your Util down and work on attacking any negative items you have on your reports.
Pay down the cards you have, try to work on PFD on any negatives and then reapply.

I believe it’s 30 days since a denial for any credit product with Amex. The 90 days is for CLI denials, not new cards