Help...Looking for approval odds for any AMEX

[Lebrunrf]

Hello all,

I am new to posting on myFICO(2nd post), I am looking  to get an AMEX to bolster my credit profile but the prequal site shows nothing. I'm always reading in the forums looking at everyone eles' KPIs but I wanted to put my info out there to see what you experts think, heres my rundown:

EX8 -684

SALARY 90K

CHAPTER 13 FILED 2015(DISMISSED 2018

AAOA- 5 YEARS 7MO.

NEW ACCOUNTS 2/6, 3/12, 5/24

INQUIRES-9 (MORTGAGE SHOPPING)

CAP1 PLATINUM-500CL

CREDIT ONE PLATINUM-500CL

PAYPAL MC- 300CL

CHIME SECURED CREDIT

AMEX GOLD-AU

I would appreciate any thoughts/comments/adivce!

thanks!

[KLEXH25]

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@Lebrunrf wrote:

Hello all,

I am new to posting on myFICO(2nd post), I am looking  to get an AMEX to bolster my credit profile but the prequal site shows nothing. I'm always reading in the forums looking at everyone eles' KPIs but I wanted to put my info out there to see what you experts think, heres my rundown:

EX8 -684

SALARY 90K

CHAPTER 13 FILED 2015(DISMISSED 2018

AAOA- 5 YEARS 7MO.

NEW ACCOUNTS 2/6, 3/12, 5/24

INQUIRES-9 (MORTGAGE SHOPPING)

CAP1 PLATINUM-500CL

CREDIT ONE PLATINUM-500CL

PAYPAL MC- 300CL

CHIME SECURED CREDIT

AMEX GOLD-AU

I would appreciate any thoughts/comments/adivce!

thanks!

---

Hi @Lebrunrf and welcome to the forums. Was AMEX included in the bankruptcy? If so, you'll be blacklisted with them. Also, with 3 cards in the past year, you may need to garden a bit longer. Things are different because of Covid. Another new card won't necessarily help you right now, and I believe being an AU on on Amex card won't contribute to account age so I'm not sure if that's really helping you. 

[Lebrunrf]

@KLEXH25

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Thank you so much for your response! no I did not burn them in my bankruptcy I agree that I should be gardening longer, now I'm wondering if I close my 2 newest cards which are only 5 months old will they still count toward my new account total?

[Remedios]

Yes, closed accounts still count.

I do have a question. 

Amex offers variety of cards, but you don't seem to have a preference, so could you elaborate on what you're looking for and why does it have to be Amex.

You shouldn't saddle yourself with useless cards just to get in with a lender. 

Amex might have exactly what you're looking for, or perhaps another lender would be a good fit especially while BK is still on your reports 

[Lebrunrf]

@Remedios 

This comment is exactly why I decided to post in the thread, thank you so much!

I don't really have a preferance, really I'm trying to get a card with a larger CL and I hear AMEX is pretty generous. I can't go the NFCU route becuse for some strange reason my F9 is ~100 points lower than my F8?????

thanks for any advice you can offer

[Remedios]

@Lebrunrf  I don't think Amex is going to be particularly generous with credit lines as long as BK is on your report..

Also, that really depends on what you consider higher limit. 

Your 9s are lower because that scoring model is a bit more punishing when it comes to severe derogs and PR (BK).

Nfcu isn't really score sensitive (unless it's really bad), but they are sensitive to DTI. You can try, if approved, your limit might be on the low(ish) end, but it's my understanding that's the case for many.

You might even need to start with secured card. 

Typically second approval down the road yields better results. 

Have you tried Discover prequal? 

Unless included in BK, they aren't sensitive to the presence of BK and they do prefer customers who have less available credit.

[Lebrunrf]

@Remedios 

thanks I think I'm going to stay in the garden another few months, my BK falls off next May/June might be worth the wait.....

[Remedios]

That sounds like a good plan. 

[Anonymous]

@Remedios is on point with her advice on this. With a BK on your reports it's unlikely you'll get more than the starting $1k limit, and it won't budge as long as it's on your report. My revolvers are still stuck at $1k after 28 months of considerable spend and great payments, due as near as I can tell, to a single aged paid derog. No BK ever, and no card payment issues in 15 years. Still in limit hell with them. Best bet is look elsewhere and wait for your BK to fall, and then investigate Amex with a much higher likelihood of success and useful limits.

[Heatt99]

IMO, you have options to get an Amex in the long run (12-18) months. 

Highly depend on Navy, as they might start you off small, but their CLI rise faster than most. The More Rewards card is on the Amex network; don't know if Amex can track this, but I believe it has a positive effect.

Amex loves high income, but like other major banks, they tend to match or closely meet limits of other cards.

If you did purchase a home, this too has a positive outcome algorithm wise. 

When ready to apply, expect to reach out to their recon line to state your case for approval.

GL.