Amex Propel approval odds

[Anonymous]

Hi, second post here.

I just wanted to get opinions on when to apply for the Amex Propel card, and how inquiry and new account sensitive Wells Fargo is.

EX-696, 12 inquiries on record since 2018, 7 in 2019. I've opened 5 new accounts in 2019.

TU-723

EQ-716.

AAoA- 3 years, 2 months. Authorized user on my mother's 18 year old cap one account with 46% usage (which sucks)

AU on Chas FU.

Current utilization including from AU accounts is 19%. Without AU, personal usage is at 11%.

DiscoverIT-$2700, Nordstrom-$2000,Premier America-$1000, Cap One Platinum-$750, Chase FU-$1000, Amex Delta Gold-$1000

Amazon Store Card- $1500

[M_Smart007]

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@Anonymous wrote:

Hi, second post here.

I just wanted to get opinions on when to apply for the Amex Propel card, and how inquiry and new account sensitive Wells Fargo is.

EX-696, 12 inquiries on record since 2018, 7 in 2019. I've opened 5 new accounts in 2019.

TU-723

EQ-716.

AAoA- 3 years, 2 months. Authorized user on my mother's 18 year old cap one account with 46% usage (which sucks)

AU on Chas FU.

Current utilization including from AU accounts is 19%. Without AU, personal usage is at 11%.

DiscoverIT-$2700, Nordstrom-$2000,Premier America-$1000, Cap One Platinum-$750, Chase FU-$1000, Amex Delta Gold-$1000

Amazon Store Card- $1500

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@AnonymousWelcome to myFICO!

Tough card to get, not impossible.

But I believe this will probably result in a denial?

". I've opened 5 new accounts in 2019."

WF is sensitive to new accounts/credit seeking.

This would probably not help

"AAoA- 3 years, 2 months. Authorized user on my mother's 18 year old cap one account with 46% usage (which sucks)

AU on Chas FU.

Current utilization including from AU accounts is 19%. Without AU, personal usage is at 11%.

This is all JMHO

[Anonymous]

I wonder if that one account at 46% is actually bringing down your score. Perhaps removing yourself would be more beneficial to you, considering you have plenty of your own accounts. Unless it lowers your score due to shortened AAoA. 

Guess it depends on whether they put much stock into AU accounts. But the recent new accounts may have more of an imact than anything.

[Anonymous]

Thanks for the replies and insight. I really should've checked what her usage was before having her add me as an AU.

Should I just work on aging my accounts, increasing credit limits, and limiting activity? I feel like I could realistically wait 3-6 months to apply, I just hope Wells Fargo doesn't make the benefits worse.

Any other insight or experience would be greatly appreciated. 

Cheers.

[Anonymous]

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@Anonymous wrote:

Thanks for the replies and insight. I really should've checked what her usage was before having her add me as an AU.

Should I just work on aging my accounts, increasing credit limits, and limiting activity? I feel like I could realistically wait 3-6 months to apply, I just hope Wells Fargo doesn't make the benefits worse.

Any other insight or experience would be greatly appreciated. 

Cheers.

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I think you should wait out until some of your accounts from 2019 aged pass 1 year and let those inquiries fall off as well. Don't worry about card benefits changing because they will always change, for better or for worse. There will always be other fishes in the sea to pick from. 

[Meanmchine]

Good luck whatever you decide

[Anonymous]

Just a thought ... since it is your mother .. perhaps you could help her out by paying some of that debt down to lower her Utilization ... She did in deed add you to improve your credit profile. Regardless if you were or were not the person to incur the debt, as a child of your mother .. that would be a golden Early Mother's Day present 

[Anonymous]

I was actuallly thinking of doing that.

The only reason the utilization is so high is because she did a massive balance transfer from the Coscto Citi card after receiving a 0% APR balance transfer offer from Capital one. She said she'd have it paid off in like 8 months. I think I'm going to let my cards age and hold off on applying. Lower my personal utilization to less than 5% and then see what works. BTW, I'm preapproved for the Citi DC and Simplicity, but I've been told that Citi is extremely sensitive to new accounts and inquiries. Another thing to add in is that 5 inquiries are going to fall off my report by June!

[Anonymous]

good luck!

i'm sure you'll be approvals easily in the near future.

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@Anonymous wrote:

I was actuallly thinking of doing that.

The only reason the utilization is so high is because she did a massive balance transfer from the Coscto Citi card after receiving a 0% APR balance transfer offer from Capital one. She said she'd have it paid off in like 8 months. I think I'm going to let my cards age and hold off on applying. Lower my personal utilization to less than 5% and then see what works. BTW, I'm preapproved for the Citi DC and Simplicity, but I've been told that Citi is extremely sensitive to new accounts and inquiries. Another thing to add in is that 5 inquiries are going to fall off my report by June!

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[M_Smart007]

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@Anonymous wrote:

I was actuallly thinking of doing that.

The only reason the utilization is so high is because she did a massive balance transfer from the Coscto Citi card after receiving a 0% APR balance transfer offer from Capital one. She said she'd have it paid off in like 8 months. I think I'm going to let my cards age and hold off on applying. Lower my personal utilization to less than 5% and then see what works. BTW, I'm preapproved for the Citi DC and Simplicity, but I've been told that Citi is extremely sensitive to new accounts and inquiries. Another thing to add in is that 5 inquiries are going to fall off my report by June!

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I think if you can hold off until June, you would likely benefit from that.