Could A 30 Point Jump Help This...

[Andy77]

So my utilization is sitting at 30 % and I have about 44k of debt on my CR.  I paid off 22k  but it has not updated.

My "my fico" Experian score is 645.

I have about 10 inq on my EX and a discharged bk from Sept 2009

I applied for the Amex Platinum and was approved and the rep said I could use same hard pull to apply for another so I tried for the Blue Cash Everyday.

I got declined and the automated system over the phone read me the denial letter...stated one reason..."score on commercial credit report too low"

SOOOO....when my debt that I paid off updates and my EX score goes from 645 to 675 or 680.....should I try for the Blue Cash Everyday again ?

OR...just the plat card for six months then try again ? 

[Random_idiot]

How do you know it'll jump 30+ points?

[Anonymous]

In addition to the question asked above, what was the reason for Amex denied you?

[Andy77]

The myfico simulator here says a 30 point jump when the balances I have paid off post to CR

The only reason they said was declined was :  "score on commercial credit (not sure why the automated system said "commercial" this was for a personal card) report not high enough"

So guess my question is...is a 675 high enough for the Blue Everyday ?

[Anonymous]

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@Andy77 wrote:

The myfico simulator here says a 30 point jump when the balances I have paid off post to CR

The only reason they said was declined was :  "score on commercial credit (not sure why the automated system said "commercial" this was for a personal card) report not high enough"

So guess my question is...is a 675 high enough for the Blue Everyday ?

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EDIT edited....

But anyway, OP, IMPO, just wait until the the payment and score updates and take it from there. That's what I would do...

[creditguy]

I wouldn't take a simulated score as set in stone and as far as the score being good enough I would say yes. I have seen approvals at 640. But take all that with a grain of salt because Amex could still deny you and give you a generic response. Utilization I think is going to be key in getting approved.

I would just sit tight and wait for your reports to update and your scores to be recalculated and reapply. Worst case scenario you might have to use the platinum for six months and build a solid relationship. Good luck and congrats on your platinum approval.

[Anonymous]

Just sharing my data, I was approved for BC with a score of 620 but only $500 SL. 5 days later I applied for BCP and was approved for $5,000 with a score of 650. I have 3 baddies left and UTI was 9%. 

I suggest wait till your payment post and apply you have better chance getting higher SL. GOod luck!

[Anonymous]

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@creditguy wrote:
I wouldn't take a simulated score as set in stone and as far as the score being good enough I would say yes. I have seen approvals at 640. But take all that with a grain of salt because Amex could still deny you and give you a generic response. Utilization I think is going to be key in getting approved.

I would just sit tight and wait for your reports to update and your scores to be recalculated and reapply. Worst case scenario you might have to use the platinum for six months and build a solid relationship. Good luck and congrats on your platinum approval.

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@OP, This^^^^. Don't be reliant on simulated scores and the advice @creditguy offered is solid.

[Random_idiot]

So should i expect a similar jump? My utilization on creditscorecard shows 79%, and i made a payment where itll drop to 10%.

CK shows uti at 49%, and will drop below 10% lol