College Student Applying for Amex Gold/Green

[Anonymous]

Hello! I am currently a college student looking to apply for an Amex card in the next few months. I want to start traveling more often and I plan on going to Europe this summer. I'm interested in either the Amex Green and the Amex Gold Card. Before you ask why I'm not interested in Chase, based off what I've read online, they won't like my ~$3800 per year income (wish I had a job on campus/in town but they're really hard to come by; I work during breaks) and my ~$11k in student loans. I am unfortunately not 21 so I can't include the money my parents give me (nothing significant but they do give me money for my own personal use as well as paying me back when I go out and do errands for them). My current experian score as of 1/4/20 is 708 (checked through Discover). I have two other cards: Citi Rewards+ Student ($500 CL, opened in November 2019) and the BoFA student card ($1100 CL, opened in April 2019). I can stomach the annual fee of the Green Card, but if the Gold Card is better in the long run then I might possibly be willing to pay $250 per year. I spend about $1000 on dining annually, $300 on groceries annually (although I might live off campus next year so this may change), and about $1100 on everything else. 

I guess for me, I want to apply but I can't tell if my approval odds will be too great. I filled out their pre-approval form and was shown the Everyday, BCE, and the cash magnet. 

[CreditInspired]

Unfortunately, IMHO, I believe your income is too low, your credit profile too thin, and your credit history too young at this moment in time for an AmX card. And, I believe even if you were approved, it's possible it would be a toy limit. 

[NimbusIII]

It's all about building relationships, take one of the preapproved offers and in 6 months to a year check back for new offers. If you maintain a good history and PIF each month as you would with a charge card it won't take long.

[MrCreditInternational]

I applied for my first Amex (the Gold) before even having a FICO score and I got approved. From my understanding, Amex is more likely to give you the Gold/Green because you can't carry a balance on them. I'd personally apply and see what happens since you can't know if you'd get approved without applying

Regarding the difference between the two cards, the Gold is actually cheaper than the Green since you get 120$ back in GrubHub (10$ every month) and 100$ in airline credit (harder to use than other cards), so effectively you're only paying 30$ if you can use both credits. The Green has a lower annual fee but you only get 100$ in LoungeBuddy credit, which I've found really hard to use personally. 

Both cards give you 3 points on airline tickets and the difference is minimal for dining, so I think the biggest difference is going to be how much you're going to spend on groceries vs general travel.

Regardless of which one you choose, make sure you get the highest SUB (50k points for the Gold and 45k points for the Green).

[Anonymous]

I agree with @CreditInspired in that, unforuntately, you likely wouldn't be approved. Amex is usually pretty solid with their preapprovals, so if you want an Amex card specifically then I'd apply for one of the cards that you're pre-approved for. I'm a student that was approved for the Gold card but only decided to apply after I was pre-approved. You may want to wait for another 6 months to a year or so to let your profile age. If you're looking for travel cards and decide to wait for another 6 monthts to a year or so, I'd wait and apply for Chase cards since you're under 5/24 still (something I wish I did) if you're interested in any of their cards. It might be useful to apply for one of their hotel cards after gardening for the SUB even if you're not interested in any of their core cards if you'd be travelling to Europe this year to help pay for the hotel costs (and they offer an anniversary night every year that the card is open after year 1) if you're able to meet the minimum spend. Right now the IHG card is at an elevated bonus.

[Anonymous]

If it’s what you want go for it. You won’t know until you try. 

Worst case scenario you don’t get approved and it’s only a few points for the inquiry best case scenario you get your foot in the door with a major lender. 

[Anonymous]

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@Anonymous wrote:

 ~$3800 per year income

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Tough love here-  you won't be able to spend enough to take advantage of the card to justify the annual fee unless someone else is paying for the stuff and annual fee.. No need for a card with a fee until you're making more money and can offset the cost. You will be much better served by keeping the two cards you have in good standing.

[Anonymous]

I've heard that applying for a charge card and credit card on the same day would count as one hard pull. Is this correct? If so, then should I be denied for one of their charge cards, I would apply for one of the cards they pre-approved me for. 

[Matt9543]

If I log in and check through my account, it shows that I'm pre-approved, but when I applied through my friend's referral link, I was denied. Do you think that could affect it?

[Anonymous]

I have to agree with others, your income doesn't match the requirements for the card. There's nothing wrong with wanting to travel in college, I'm an undergrad, but I was approved with a $35k income and no debt. A friend of mine was approved with $21k income and some loans, but both of us had at least one account that was 2 years and 6 months old, as well as an average age around 1 year and 8 months. Perhaps look into the WF Propel for a no AF travel card, but I'm not sure about your odds with that card.