Should I go for it? AMEX with a BR?

[Broke_Triathlete]

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. 

[Anonymous]

You should be okay.

Besides, I believe AMEX only soft pulls for declines.
You might get a 30 or 7-10 day message, call recon and hope for the best.

Your score is good and you have high limits on your cards, AMEX likes that.

Are you prequalified for any of their cards?

[Broke_Triathlete]

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@Anonymous wrote:
You should be okay.

Besides, I believe AMEX only soft pulls for declines.
You might get a 30 or 7-10 day message, call recon and hope for the best.

Your score is good and you have high limits on your cards, AMEX likes that.

Are you prequalified for any of their cards?

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Thanks for the reply. I'm not prequaled for any cards, period. Regardless of company. That's why I'm thinking it has to do with the opt out I think I did a few years ago. 

Hmm, that'd be great if they only softed for a denial. Any links to that? 

[Anonymous]

You should be good wth Amex come January, assuming you haven't burned them in the past. If you opted out, you won't get any preapprovals. Go for it in January and let us know the outcome.

[Shadowfactor]

Amex only soft pulls for denials if you have an existing card with them. That’s not set in stone either.

From what I’ve seen on here, Amex will know if your blacklisted because of bankruptcies and won’t process the application.

Any new account application will certainly result in a hard pull of your credit

[expatCanuck]

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@Broke_Triathlete wrote:

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Thanks for the reply. I'm not prequaled for any cards, period. Regardless of company. That's why I'm thinking it has to do with the opt out I think I did a few years ago.

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Exactly right.  I opted out earlier this year, and no offers come up when I check for a prequal -- but I've been successful in all of my recent apps (tho' one required a recon).  I don't know whether the site allows you to opt back in, but the URL is www.optoutprescreen.com.

[Broke_Triathlete]

I forgot to add that I have NOT burned AMEX before. I've never had a card with them. 

So would Jan 2nd be ok or should I wait until the end of the month or??

[Anonymous]

I can say from experience (month after month) that if you are on the Amex blacklist and you app, they won’t hit you with a HP. You’ll get an instant decline and when you try to look up app status it won’t find your app. If you aren’t on the blacklist and you get declined, you will get a HP. Your stats are pretty solid so if you aren’t on the blacklist you’ll probably get an approval. Good luck!

[RicHowe]

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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! 

EDIT: Apparently, this is wrong information that I have. See responses below.

[RicHowe]

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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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This is EXACTLY why you cannot see any pre-qualified offers on any site.

https://www.optoutprescreen.com/opt_form.cgi

Select Opt in and fill out your information. It takes 5 days for them to notify the CRAs, but it will be around a month to 45 days before you'll be able to see offers (from my experience opting back in).