I have rigorously followed advice on these boards and so far it has worked out great. Before finding these boards my credit was thin at best with a few collections and an old Bk from '04 which is all since gone off my bureaus. I recently closed on a $400k mortgage, but my credit cards have been light with mostly low limits. I have a Credit Union visa for $1500 and a Barclay's for $2800 and a Freedom Card for $1500. I was thrilled when Chase has just approved me for a $9000 Sapphire Preferred Card last week. I have always wanted one (or several) Amex cards and would like to know if you think I have a shot. Income $160k/year utilization <10%. I have been so used to being denied through the years that it is hard for me to comprehend that I could actually be approved for an Amex, which to me is the pinnacle of the credit world. Then I would believe that all the hard work and patience from the past couple of years was worth it.
I have read that I should apply for more than one at a time, how exactly should I go about it and do you think it is a good time for me to apply? Thanks to all that help on this board your advice has been invaluable to me and I'm sure many others
@thewizftl wrote:I have rigorously followed advice on these boards and so far it has worked out great. Before finding these boards my credit was thin at best with a few collections and an old Bk from '04 which is all since gone off my bureaus. I recently closed on a $400k mortgage, but my credit cards have been light with mostly low limits. I have a Credit Union visa for $1500 and a Barclay's for $2800 and a Freedom Card for $1500. I was thrilled when Chase has just approved me for a $9000 Sapphire Preferred Card last week. I have always wanted one (or several) Amex cards and would like to know if you think I have a shot. Income $160k/year utilization <10%. I have been so used to being denied through the years that it is hard for me to comprehend that I could actually be approved for an Amex, which to me is the pinnacle of the credit world. Then I would believe that all the hard work and patience from the past couple of years was worth it.
I have read that I should apply for more than one at a time, how exactly should I go about it and do you think it is a good time for me to apply? Thanks to all that help on this board your advice has been invaluable to me and I'm sure many others
Congrats on the new home! Looking at the basics, income, credit cards and utilization (not sure how long you've had your cards or AAoAs) looks like you'd be good to go if your FICO is over 680. You might want to go on the creditboards and check the credit pulls database to see what others have received as approvals and denials in your state. The suggested pattern for applying is Charge first and then Revolver. Some have applied C-R-R to get it over and done with lol Good luck to you.
I just ran my 3 reports and it came up ex 674, eq 656 and TU at 701. The inquiry from Chase for the Sapphire Card dropped my score 9 points, wow!
Anyway, it would be great to have an Amex card or two in my wallet. Based on this information do you think I should apply or should I hold off for a while?
Thanks for responding, I know it's not the actual pinnacle, it is a mental thing to me. I'm sure that someday I will think higher. 4 years ago I needed a co signer to pay cash ...lol
674 is one of those 40-60 areas in my opinion. It really becomes a toss up, although I've seen some members get the card with a lower score here recently and with lower starting limits that I didn't believe were possible with an AMEX. You could always apply and see where you stand. If denied, wait for their reasons for denial and reapply when your score hits EXP 700 and you've gardened for a bit.
Looks like I typed too soon! Another member typed today they were approved with a 638 EXP with a 500 limit. I thought you might be interested in this OP.
Personally, I would only try for the Charge at this time and see if you get an approval. The 674 score could potentially go either way; but if you get the Charge card you can use that for several months and build a reputation with them and then apply for the BCE or another card.
Good Luck :-)
