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Amex and negative marks...

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sjt
Senior Contributor

Re: Amex and negative marks...

Amex has approved applications with baddies showing on their CR. They have their own internal scoring system and they want to see positive tradlines, on-time payments since the last baddie for a certain period. They also want to see low utilization as well.

 

 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 11 of 23
krisssmmm
Regular Contributor

Re: Amex and negative marks...

You don't have to be baddie free to get in with Amex. I just got my first Ed with low 600 score and about 4 baddies. I was prequalified tho.
Message 12 of 23
Creditplz
Valued Contributor

Re: Amex and negative marks...

NC_mild what card did you app for?.
Message 13 of 23
KSK1912
Valued Contributor

Re: Amex and negative marks...


@Fitzgibbons wrote:

Score is 684, profile is about 50/50. I have a car account paid off, another in good standing, 3 CCs in good standing, and mortgage in good standing for 4 years.

 

Still not prequalified, though. I guess ill just wait until i am


Amex approval odds are better than they will ever be for any given CR. There is no such thing as you have to be baddy free for amex. Your score and your trade lines should be more than enough to get approved for a bce or everyday. If i were you, i would apply for a charge card first, easier to get approved. After you get your approval for the charge card, then apply for a revolver back to back. That will make it even easier to get approved for the revolvers such as BCE or everyday. Do not apply for a second revolver. Only one charge card and one revolver at a time. 


6/14/15: Equifax 576 Experian 542 Transunion 571
8/17/15: Equifax 626 Experian 619 Transunion 622
9/28/15: Equifax 655 Experian 636 Transunion 641
11/11/15: Equifax 698 Experian 687 Transunion 672
Short Term Goal Score: 720 Across the board


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Message 14 of 23
UncleB
Credit Mentor

Re: Amex and negative marks...

I can provide a data point for this...

 

April 2015 I was approved for the BCP and a Green card (same day).  Amex pulled EX, and at the time my score was 695 (as reported by Amex).  At the time, I had low utilization and I had two 'baddies' reporting, but they were old (both 6+ years).  I also included Amex in a 2000 Ch. 7 bankruptcy.

 

My BCP was approved at the highest APR (after promo) and with a SL of $1k.  I PIF each month, so the APR isn't a problem.

 

FWIW, each time I've tried for a CLI, they deny me based on the account IIBK 16 years ago, so they don't forget anything. 

 

Hope this helps!  Smiley Happy

Message 15 of 23
sjt
Senior Contributor

Re: Amex and negative marks...


@krisssmmm wrote:
You don't have to be baddie free to get in with Amex. I just got my first Ed with low 600 score and about 4 baddies. I was prequalified tho.

What was your credit profile like when you applied.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 16 of 23
Anonymous
Not applicable

Re: Amex and negative marks...


@Creditplz wrote:
NC_mild what card did you app for?.

I went for the BCE. 

Message 17 of 23
Kiki901
New Contributor

Re: Amex and negative marks...

I have an unpaid collection on my report and was approved for the AMEX Blue cash card.

 

I also have a 120 days late mark on student loans on my report. 

 

I was denied when I had 2 charged off credit cards on there. As soon as those dropped off, I applied and was approved. 

Message 18 of 23
Anonymous
Not applicable

Re: Amex and negative marks...

I have 3 Citibank charge off showing and I was approved for an everyday card one year ago. However I'm in my late thirties and I have 4 tradelines over 20 years old so my 700 time of approval has thicker stats than most.

However UTIL is always the key my score is taking a big hit because of home repairs. It is not in my budget to max out my American Express to pay it off every month but when my other debts are paid I could and I would be awarded the sky high limit.
Message 19 of 23
Fitzgibbons
New Contributor

Re: Amex and negative marks...

So, which score they check? Bankcard 8?

Message 20 of 23
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