Applying for Amex Platinum - Odds of being approved

[Anonymous]

Anyone have experience applying for Amex Platinum within 60 days of getting Delta Amex Gold?  When I was approved for Delta Amex Gold my EXP Fico was 629 but is now just north of 700.  Have been with Amex since 05 but have not had a card with them for the last 3 years.  Been rebuilding credit, income is in a good spot now (over $150K), and utilization is low 1%.  Have had the Delta Gold for 45 days and have had to pre-pay more times than I would like to count due to amount of spend and $1K CL.  If I am going to keep the monthly spend going, I would rather have it on a card that I will get more use out of.  So my question is, is it worth applying for the Platinum card or do I need to wait a bit?

Thanks!

[Anonymous]

You probably should wait since its fairly well-known that Amex underwriting does not use the Experian FICO score displayed in your online account.  Instead they use the score obtained when they do a monthly soft pull of your credit reports.  Because of this, the score from the soft pull and the online score often do not coincide and its usually advised to wait a month from when the online score updates to ensure that the soft pull captures the new scores.

But there's really no harm in applying now since its likely (but not guaranteed) that Amex will not do a hard pull.  If you're denied, the notice will tell you when the soft pull usually occurs, and when you can apply again.

Edit:  A $1,000 approval suggests you barely qualified for the Delta card so Amex may not want to approve another card so quickly.

[GatorGuy]

It will most likely be a SP for a new card so you have little to lose. You can apply now and later. 

You'll have the best chance when your new score hits.

[KJinNC]

I think you'd be approved, and it's extremely likely it would be SP if denied, so I'd go for it if you are sure you want the Platinum Card.

You are probably aware, it's not a card that is known for points or cash back type rewards, except for travel bought in certain ways. It is more about status and perks (meaning, hotel status, airport lounge access, etc). So, for many people, it's not a card that you'd necessarily run a lot of spend through. The exception would be if you spend a lot on travel and are ok using the Amex travel portal or other methods that get point rewards.

Good luck!