Hi everyone!
First time poster here! Been recently working on my credit actively.
I want to apply for an Amex charge card in the next few months but I'm unsure which one to go for and what will get approved. Fico EX is 640. TU is 651. Credit utilization is 17%. AAoA is 3.5 years. Income is 48K. Have one charge off collection derogatory (paid less than original amount)
when I called Experian they said it'll fall off in 2020. At the time I paid it I didn't know about the pay for delete and all that. Completely stupid I know. Payment history is 100%.
What do you think my odds are? I would also like to apply for the sky miles gold the same day, is that advisable?
Other credit cards 1) Cap 1 Platinum $4k, Cap Quick silver $500, Discover It $1400, Credit 1 (my oldest card 6 years) $1350, first premier also an old account $500.
I'm trying to lower my credit utilization to 11%. Last year I opened up Cap 1 quicksilver in august and discover it in December. Please excuse my lack of info and lingo.. I'm still new at this.
TIA
First time poster here! Been recently working on my credit actively.
I want to apply for an Amex charge card in the next few months but I'm unsure which one to go for and what will get approved. Fico EX is 640. TU is 651. Credit utilization is 17%. AAoA is 3.5 years. Income is 48K. Have one charge off collection derogatory (paid less than original amount)
when I called Experian they said it'll fall off in 2020. At the time I paid it I didn't know about the pay for delete and all that. Completely stupid I know. Payment history is 100%.What do you think my odds are? I would also like to apply for the sky miles gold the same day, is that advisable?
Other credit cards 1) Cap 1 Platinum $4k, Cap Quick silver $500, Discover It $1400, Credit 1 (my oldest card 6 years) $1350, first premier also an old account $500.
I'm trying to lower my credit utilization to 11%. Last year I opened up Cap 1 quicksilver in august and discover it in December. Please excuse my lack of info and lingo.. I'm still new at this.
TIA
@Anonymous wrote:
Personally, I have their Green Charge Card and I love it. Been very helpful and helps establish a relationship with them. I'm not too particular about rewards because I already have cards that offer great rewards but if you're just looking to start a relationship with American Express, go for the Green card. Many people I'm sure will disagree with me, but I think the green card is great. Best of luck to you
The Green card is OK if someone just needs/wants a charge card, but the reason most people prefer the PRG is because of the sign-up bonus, and there's no AF the first year. If you see that you're not using the extra benefits, you can PC to a Green before the first AF is due and keep the bonus MR points. 
Also, the PRG has a $100 airline fee credit, so if someone flies at all (or is otherwise able to take advantage of the fee credit) that makes the PRG annual fee effectively $95 ($195 - $100) which is the same as the Green card... and it earns MR points at a higher rate than the Green card, too.
I actually got the Green card myself back in 2015 (I wasn't well-read on the differences at the time) and I ended up closing it so I could app for the PRG and get the bonus. At the time, IIRC my scores were around 680; they approved my Green and my BCP for $1k at the highest APR. They made me wait 18 months before they would give me a CLI on the BCP, and even then it was an auto-CLI (they have yet to approve a CLI request initiated by me).
They look at more than just score, which is why some are approved at 645 and others are declined at 680. There's no way to know without just trying, however I will say that unless there's an urgent need I would probably wait until I knew my chances for approval were at their highest (especially since there's no special 'bonus' at the moment that I'm aware of).
Just my 2¢.