Approval odds?

[Anonymous]

I am new to credit. I have 2 secured credit cards and a month of credit history. My scores are tu 675 and eq 668. I don't like using my debit card all the time. I would prefer to have an amex charge card. 

Do you guys think I will qualify for ex gold or amex delta gold? I was also thinking about amex green but other posts have kind of swayed me away from it.

[Anonymous]

Welcome to the board.  Amex likes thin credit files but  a month of credit history isn't enough.  I suggest you wait for at least 6 months to show enough payment history and responsible use so that your chances of approval are higher.

[Imperfectfuture]

Better if can wait one year. Even better, after 6 months, get cap one quicksilver, then wait for two years and get amex (or 8 months after getting quicksilver). Had two years secured history when got my amex.

[elim]

Go on AMEX site and check for offers... When it's there (and bonus), jump on it.

[Imperfectfuture]

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@elim wrote:

Go on AMEX site and check for offers... When it's there (and bonus), jump on it.

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I did not get pre quals on Amex, most folks do not.  I saw profile of someone similar to mine get approved, this was when I apped.  Sorta follow the leader?  Score at time of approval, one secured card 2+ years, one rebuilder legacy visa 6 months, baddies just removed, 772 experian.  My app frenzy since then has lowered the score.

Pre quals are based on if the CC company has existing relationship with you, or they have purchased your info from the CRA's for marketing purposes.  If neither of those exist, no pre quals.  Case in point, Chase never gave me pre quals.  Apped for Amazon Visa, next month got pre quals.  Then got mailers from other banks (BOA, CITI in particular).

[crrredit]

In the meantime you can use those secured cards the way you would use a charge card--pay it off in full each month. Let one report a balance of less than 10% on the statement then pay to zero after the statement cuts.

[SouthJamaica]

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@Anonymous wrote:

I am new to credit. I have 2 secured credit cards and a month of credit history. My scores are tu 675 and eq 668. I don't like using my debit card all the time. I would prefer to have an amex charge card. 

Do you guys think I will qualify for ex gold or amex delta gold? I was also thinking about amex green but other posts have kind of swayed me away from it.

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I find Amex charge cards pretty useless.

If I were you I'd apply for either a Barclay Rewards card, or a Capital One Quicksilver card.

[azguy13]

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@SouthJamaica wrote:

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@Anonymous wrote:

I am new to credit. I have 2 secured credit cards and a month of credit history. My scores are tu 675 and eq 668. I don't like using my debit card all the time. I would prefer to have an amex charge card. 

Do you guys think I will qualify for ex gold or amex delta gold? I was also thinking about amex green but other posts have kind of swayed me away from it.

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I find Amex charge cards pretty useless.

If I were you I'd apply for either a Barclay Rewards card, or a Capital One Quicksilver card.

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I agree with SouthJamaica. Someone with such a thin file would benefit from a Cap1 card. They are great for building or rebuilding and I would guess that the approval odds are higher. Ever since Amex got rid of the Zinc charge card, I have yet to find a good Amex for a new builder.