Should I go for it? AMEX with a BR?

[Anonymous]

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@RicHowe wrote:

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@Broke_Triathlete wrote:

Hey guys. It's been a long road since BR but I'm close to getting in my "dream" creditor so-to-speak.... AMEX. I've read thread after thread that they have a "5 year rule" which basically states that 5 years +1 month of FILING you should be good to go. I called them and spoke to a few different people and they said they haven't heard of such a thing.

I filed in 12 of 12' and DC 3 of 13' so that means in a few days I should be able to apply, correct?

My EX is 739 as of today and the only negative on my entire report (other than BR) is 1 late payment on a student loan before I filed BR. Reports are squeaky clean otherwise. I have several large $27K+ limits with the other 3 (Visa/MC/Disco). My utilization is 2% and all I have left debt wise to my name are student loans. Originally $120K down to $17K. I haven't applied for credit in over 2 years. 

I unfroze my EX to run their prequal and nothing came up. I also tried Cap 1 and nothing. Cap 1 had a message box pop up and suggested maybe I elected out of credit card offers, which I believe I did do several years ago. So I'm assuming that's why nothing is popping up on prequal. 

What do you guys think? I don't want to jump the gun on the 5 year deal by not waiting a few more months until my discharge date, if that's the case. 

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The 5 year clock starts from date of discharge (March 3, 2013) or the date the BK was added to your credit report. I would wait until April 15th to be safe. Then you will be right as rain to become an AMEX clubhouse member. Otherwise your stats are solid. Welcome to the club! 

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That's not correct, the 5 year clock starts from the filed date, not discharge date for Amex. NFCU is the only one I know of that goes by discharged date.

January 2 should be fine to apply.

[Broke_Triathlete]

I've also been told it's from file date. I hope that's the case so I'm not wasting an INQ

[Broke_Triathlete]

Just pulled this from my experian tracker deal. 

[RicHowe]

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@Anonymous wrote:

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@RicHowe wrote:

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@Broke_Triathlete wrote:

Hey guys. It's been a long road since BR but I'm close to getting in my "dream" creditor so-to-speak.... AMEX. I've read thread after thread that they have a "5 year rule" which basically states that 5 years +1 month of FILING you should be good to go. I called them and spoke to a few different people and they said they haven't heard of such a thing.

I filed in 12 of 12' and DC 3 of 13' so that means in a few days I should be able to apply, correct?

My EX is 739 as of today and the only negative on my entire report (other than BR) is 1 late payment on a student loan before I filed BR. Reports are squeaky clean otherwise. I have several large $27K+ limits with the other 3 (Visa/MC/Disco). My utilization is 2% and all I have left debt wise to my name are student loans. Originally $120K down to $17K. I haven't applied for credit in over 2 years. 

I unfroze my EX to run their prequal and nothing came up. I also tried Cap 1 and nothing. Cap 1 had a message box pop up and suggested maybe I elected out of credit card offers, which I believe I did do several years ago. So I'm assuming that's why nothing is popping up on prequal. 

What do you guys think? I don't want to jump the gun on the 5 year deal by not waiting a few more months until my discharge date, if that's the case. 

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The 5 year clock starts from date of discharge (March 3, 2013) or the date the BK was added to your credit report. I would wait until April 15th to be safe. Then you will be right as rain to become an AMEX clubhouse member. Otherwise your stats are solid. Welcome to the club! 

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That's not correct, the 5 year clock starts from the filed date, not discharge date for Amex. NFCU is the only one I know of that goes by discharged date.

January 2 should be fine to apply.

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I stand corrected. At any rate, if you are declined because of the BK you will know how much time until you can app. Good luck and post back with your result!

[Anonymous]

Well, no one can guarantee you an approval so you have to be willing to waste an inq to find out. It's just that many have reported being approved 5 years post filed date with a BK, so your odds seem good.

[Broke_Triathlete]

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@Anonymous wrote:

Well, no one can guarantee you an approval so you have to be willing to waste an inq to find out. It's just that many have reported being approved 5 years post filed date with a BK, so your odds seem good.

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I know I no one can guarantee me an approval and I know I have to use a HP either way. What I'm trying to avoid is "waste" an inq at 5 years post filing if it's 5 years post DC.

What card do you think I should app for? I've been out of the game for a bit. I currently have:

C1 QS

Disco

Barclay MC Rewards

2 credit union cards

[Anonymous]

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@Broke_Triathlete wrote:

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@Anonymous wrote:

Well, no one can guarantee you an approval so you have to be willing to waste an inq to find out. It's just that many have reported being approved 5 years post filed date with a BK, so your odds seem good.

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I know I no one can guarantee me an approval and I know I have to use a HP either way. What I'm trying to avoid is "waste" an inq at 5 years post filing if it's 5 years post DC.

What card do you think I should app for? I've been out of the game for a bit. I currently have:

C1 QS

Disco

Barclay MC Rewards

2 credit union cards

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There are a couple threads on the Credit Approval board of ones getting approved for the BCE, so that may be a good one to try for:

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Amex-BCE-Approved-5-Yr-1-Mo-Post-BK-7/td-p/5124381

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Approved-for-Amex-BCR-with-BK7/td-p/5124287

[Broke_Triathlete]

Thank you for those

[Broke_Triathlete]

Approved. $20K for both business and personal

[Anonymous]

Congratulations on pulling the trigger for AMEX! That is an OUTSTANDING SL! Hopefully in about 61 or so days, ask for a CLI and you just might get the 3X CLI. I dont know if that still applies with SL of $20k or higher, others may help on this. If they dont give the 3x CLI, counter offer them to at least $33- 35k.