Seeking AMEX app advice

Anonymous · ‎02-19-2015

Good evening everyone.

I am looking to join the AMEX family here very soon. My real interest is the credit card and not so much the charge card. I have slowly been building my credit for the past four years. My DW (not legally married, just 2 kids (2.5y, 1y) and 12 years together) and I have been buying our home for the past 3.5 years via a land contract and in 12/14 we were able to get a mortgage from our community bank. We owe now about $62k on it and it values at 105-125k. Some past credit issues but nothing but good the past 4 years or so. Here is my current credit profile;

EQ 630 - TU 660 - EX 657

Current Accounts;
Mortgage - Opened 12/14 - pays, never late - $63115/64000
C1 QS - Opened 1/11 - pays never late - $288/500
BoA 123 - Opened 2/13 - pays, never late - $736/1000
C1 QS(2) - Opened 1/15 - not reported yet - $0/1000
Barclay - Opened 1/15 - pays, never late - $36/1000
ComBk/VS - Opened 2/15 - just reported, charge acc - $0/500
AU on DW C1 - Opened 12/14 - pays, never late - $28/300
Notes: C1 QS CLI to 3500, AU CLI to 800. Usually PIF each month or the majority of. Updates to CR soon should reflect QS 226/3500, BoA 15/1000. Data pulled from EQ.
2 pd collections ($85, $60) on EQ and EX. 0 on TU.
Paid CO in 12/14 from 2011 on all 3. Unpaid CO from 2011 ($800) on EQ. Both were finance loans.
1 30d, 60d late in 2011 from a PL in 2011 on all 3 CR.

My C1 and BoA should update to CRAs 2/21-2/24 and I don't think the new C1 account will report until 3/6 when statement cuts.

Went to AMEX a few days ago to check my prequalifies and we're all charge cards. Best offer was for the PRG card with 50k points for $1k spend within 3 months, first yr $0 AF then $175 next. This is a pretty nice bonus from what I've read. I really have no desire for a charge card and I really want the revolving credit card. I was thinking of getting the PRG card just to get my feet into the door and taking advantage of the bonus. Since I've read they use the same HP trying for a credit card at the same time. Question; is the underwriting the same for all credit cards? Should I apply for the charge or credit first? Recommend credit card?

Firgure if I get denied for the credit then I can apply later before I close the PRG unless it's possible to do a PC to reduce or remove the AF.

Looking for advice and recommendations. I'll update my score with alerts. Thanks in advance.

Anonymous · ‎02-19-2015

@Anonymous wrote:
Good evening everyone.

I am looking to join the AMEX family here very soon. My real interest is the credit card and not so much the charge card. I have slowly been building my credit for the past four years. My DW (not legally married, just 2 kids (2.5y, 1y) and 12 years together) and I have been buying our home for the past 3.5 years via a land contract and in 12/14 we were able to get a mortgage from our community bank. We owe now about $62k on it and it values at 105-125k. Some past credit issues but nothing but good the past 4 years or so. Here is my current credit profile;

EQ 630 - TU 660 - EX 657

Current Accounts;
Mortgage - Opened 12/14 - pays, never late - $63115/64000
C1 QS - Opened 1/11 - pays never late - $288/500
BoA 123 - Opened 2/13 - pays, never late - $736/1000
C1 QS(2) - Opened 1/15 - not reported yet - $0/1000
Barclay - Opened 1/15 - pays, never late - $36/1000
ComBk/VS - Opened 2/15 - just reported, charge acc - $0/500
AU on DW C1 - Opened 12/14 - pays, never late - $28/300
Notes: C1 QS CLI to 3500, AU CLI to 800. Usually PIF each month or the majority of. Updates to CR soon should reflect QS 226/3500, BoA 15/1000. Data pulled from EQ.
2 pd collections ($85, $60) on EQ and EX. 0 on TU.
Paid CO in 12/14 from 2011 on all 3. Unpaid CO from 2011 ($800) on EQ. Both were finance loans.
1 30d, 60d late in 2011 from a PL in 2011 on all 3 CR.

My C1 and BoA should update to CRAs 2/21-2/24 and I don't think the new C1 account will report until 3/6 when statement cuts.

Went to AMEX a few days ago to check my prequalifies and we're all charge cards. Best offer was for the PRG card with 50k points for $1k spend within 3 months, first yr $0 AF then $175 next. This is a pretty nice bonus from what I've read. I really have no desire for a charge card and I really want the revolving credit card. I was thinking of getting the PRG card just to get my feet into the door and taking advantage of the bonus. Since I've read they use the same HP trying for a credit card at the same time. Question; is the underwriting the same for all credit cards? Should I apply for the charge or credit first? Recommend credit card?

Firgure if I get denied for the credit then I can apply later before I close the PRG unless it's possible to do a PC to reduce or remove the AF.

Looking for advice and recommendations. I'll update my score with alerts. Thanks in advance.

Unpaid C/O that recent is gonna be a dealbreaker. Get it taken care of.

Anonymous · ‎02-19-2015

All CO are from March 2011. I paid the CO that appeared on all 3 reports in December 2014. The other CO which appears on EQ only is from March 2011 and remains unpaid. I see how I wrote that poorly.

Anonymous · ‎02-19-2015

@Anonymous wrote:
All CO are from March 2011. I paid the CO that appeared on all 3 reports in December 2014. The other CO which appears on EQ only is from March 2011 and remains unpaid. I see how I wrote that poorly.

Anything come up on prequal?

Honestly your EX score is a bit on the low end for a Revolver and perhaps even for a Charge.

Anonymous · ‎02-19-2015

The 50k PRG comes up as prequaies. My EX is at 657 but I think when my 2 older CC updates this month from 75%+ UTI to 1-5% UTI that it will boost by score by at least 20 making EX 677 or more.

Anonymous · ‎02-19-2015

@Anonymous wrote:
The 50k PRG comes up as prequaies. My EX is at 657 but I think when my 2 older CC updates this month from 75%+ UTI to 1-5% UTI that it will boost by score by at least 20 making EX 677 or more.

Try the 50K PRG and Everyday together. Go Now!

Anonymous · ‎02-19-2015

Wouldn't I be better off for CL and APR to wait until C1 and BoA updates. C1 went from $500 to $3500 last month - only took four years. That makes it my highest CL. 50% UTI to 8% UTI on that card when it updates. Then BoA when it updates will make 24/24 payments plus UTI down from 74% to 2%.

Figure the boost in score will help the chances for the credit card part and the starting CL.

Still remains; apply for charge or credit first? Credit have same UWing? And advice/recommendations.

Anonymous · ‎02-19-2015

@Anonymous wrote:
Wouldn't I be better off for CL and APR to wait until C1 and BoA updates. C1 went from $500 to $3500 last month - only took four years. That makes it my highest CL. 50% UTI to 8% UTI on that card when it updates. Then BoA when it updates will make 24/24 payments plus UTI down from 74% to 2%.

Figure the boost in score will help the chances for the credit card part and the starting CL.

Still remains; apply for charge or credit first? Credit have same UWing? And advice/recommendations.

I would not have terribly high hopes for high SL with AMEX with 650's EX FICO in any case.

I had my AMEX BSP for 6 years when I got the PRG and ED and only got $1,500 SL on my ED.

Anonymous · ‎02-19-2015

get those collections off the reports

Anonymous · ‎02-19-2015

I've tried and have only been successful with TU removing them. EQ and EX kept them on. Recently talked to CA and GW was not going anywhere. Sent a letter to the OC in hopes of help. I've read that CA under $100 have no to little effect on FICOS scores especially newers versions. The fact their small, paid and 4 years old helps.