Does AMEX consider AU status on app?

Anonymous · ‎11-10-2021

I've been an AU on an AMEX card since 2017, have spent $1k-2k on my card every month and paid in full every month since opened, balance is always paid in full and never missed any payments. Do they consider this relationship status if I where to try and apply for my own in the future? Waiting a few more months as my latest updated EX FICO 8 is 664 with a couple very old delinquencies. Thanks for any help.

FinStar · ‎11-10-2021

Hi @Anonymous - welcome to the forums.

Unfortunately, AU status is not considered for the basis or odds of approval. My suggestion is to let things improve with your overall profile, including the presence of any negatives. What does the rest of your credit profile look like? What's your utilization? Besides being AU on the primary cardholder's account, do you have any other tradelines where you are the primary user?

Anonymous · ‎11-10-2021

Thanks for responding @FinStar I have 3 credit cards of my own. A First Premier few years old when I started rebuilding with a CL of $700, Capital One Platinum with a CL of $800 and a Quicksilver One with a CL of $600. And the AU on AMEX with CL of 24k. All the credit cards have 0 balances currently. First Premier, Quicksilver and AMEX have never been late, Platinum I was late on twice over two years ago. I have an open personal loan of $1100 balance always paid on time. An open auto loan of 33k always paid on time. Two closed auto loans from trade ins that where always paid on time, a closed personal loan of 9.5k that is paid off, no late payments and an 7.8k student loan debt.

FinStar · ‎11-10-2021

Thanks for providing some backround @Anonymous.

Another suggestion, make sure that your 3 revolving accounts are not all reporting a $0 balance every month, let one (or two) report a small balance (anything <10%) to avoid an all-zero FICO scoring penalty for revolving tradelines. I think once you get your FICO scores right around 700 (give or take), expecially on EX since that's what AmEx will use, then you can determine the right time to apply.

Is there a specific AmEx card you're thinking about?

Anonymous · ‎11-10-2021

Okay thats good to know. And not necessarily any specific AMEX @FinStar really just trying to start making my way into some of the more premier cards, just not sure what steps to take to get there, if I can go straight from the starter cards I have now or work my way up. Or maybe just request CL increases on my current Capital Ones? They both where bumped up a tad within the past year, would have to go back and look when. Would it be smart to just pay the remaining 1100 off on the personal loan even though if was just opened 2 months ago? Just new to all this so am trying to learn as much as possible.

FinStar · ‎11-10-2021

@Anonymous wrote:
Okay thats good to know. And not necessarily any specific AMEX @FinStar really just trying to start making my way into some of the more premier cards, just not sure what steps to take to get there, if I can go straight from the starter cards I have now or work my way up. Or maybe just request CL increases on my current Capital Ones? They both where bumped up a tad within the past year, would have to go back and look when. Would it be smart to just pay the remaining 1100 off on the personal loan even though if was just opened 2 months ago? Just new to all this so am trying to learn as much as possible.

I would say continue the payments on the loan as you're doing today, no need to change that piece. Otherwise, if you pay it off, you might get dinged on some precious FICO points. So, let that loan do its thing.

The reason I mentioned FICO scores (expecially on EX) around ~700 is because you can have some leverage in qualifying for more AmEx cards. Of course, scoring is one piece of the pie, but if everything else syncs up with your profile, then the world is your oyster. You may need to research and see whether you value the Membership Rewards ecosystem (if you tend to do some moderate travel), specific travel/hotel cards or if you're more of a cashback type of individual. Then, also determine which products appeal to you based on your current finances/budget, etc. -- charge cards or revolving cards. For example, once your profile is at the desired level, you could easily qualify for the Gold Card or the Cash Magnet.