So bummed..

[Anonymous]

I applied for the Amex platinum card about 2 months ago. I got declined with a 754 Fico 8 score from the AMEX soft pull on 07-27-19. Reason was I only had my Gold card for 28 days. No credit history with AMEX.  I also had a ulitlation rate of 22%

I plan to apply again on 10-10-19 which will be my 3rd month exact with Amex, my scores are at a solid 780 Fico 8 and a 0% utilation rate with perfect credit history. The soft pull on 09-27-19 should reflect this. I also have an invite for the 100,000 offer!!! But I want to wait untill 10-10-19 to apply wich will be exactly 3 months of having the AMEX gold card. So chances are better.

Update 09-24-19: I missed a car loan payment and i'm now at 32 days late!!!!!!!!!!!!!!!!! I'm on month 32 of 36 of this car lease. I paid this bill yestrday and it hasn't hit my credit with the  30 day yet. Not sure if it will or not. I paid August and September at once.

Now the question is. Should I even bother applying now for the platinum? Now am I wrong to think that if the soft pull is perfomed as usual on the 27th and the baddie isn't reported untill next week lets say then I can actually apply considering the soft pull has all the updated positve things on my credit from the 27th pull?????

[Anonymous]

Another question. Should I contact BMW financial now even thought the baddie hasnt been reproted to the credit bureaus? 

[snickerpedia]

Did you  miss the payment due date by 2 days or do do you now owe 2 months paymentS? if you only missed by two days i would call them and let them know usually they will not report a baddie of two days late.

[Anonymous]

1st of all you need to figure out the late payment issue for sure before you submit anything anywhere as it will potentially end up in a lender yanking your new card from you if it does report.

I would probably call them and explain the issue of missing the payment and double check to see if it will be reported or not.  Since you have 4 payments left on the car... you can entice them into not reporting it if need be by paying it off if you have the cash on hand.

Another issue that could be in play besides the new account with Amex is Green/Gold/Platinum are all the same family and they might be a little skittish about another new account with them with an even higher AF w/o some history.  The other issue is typically you can snag a Credit and Charge card close together but, there may be an internal policy restricting 2 of the same type within 30-90 days.

100K in MR's is nice but, for an ACV redemption it barely covers the $550 AF.  Of course you can go the transfer route and boost it a bit that way but, penny for penny it's a hard sell.  

It would also help to provide some more info about your complete credit profile to evaluate things a little more outside of Amex there might be something that's preventing the additional card approval.

[Anonymous]

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@snickerpedia wrote:

Did you  miss the payment due date by 2 days or do do you now owe 2 months paymentS? if you only missed by two days i would call them and let them know usually they will not report a baddie of two days late.

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They can't report a baddie that's 2 days late, it has to be 30+ before it can be reported late but yes it's important to figure out which scenario applies to the OP. 

[CreditInspired]

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@Anonymous wrote:

I applied for the Amex platinum card about 2 months ago. I got declined with a 754 Fico 8 score from the AMEX soft pull on 07-27-19. Reason was I only had my Gold card for 28 days. No credit history with AMEX.  I also had a ulitlation rate of 22%

I plan to apply again on 10-10-19 which will be my 3rd month exact with Amex, my scores are at a solid 780 Fico 8 and a 0% utilation rate with perfect credit history. The soft pull on 09-27-19 should reflect this. I also have an invite for the 100,000 offer!!! But I want to wait untill 10-10-19 to apply wich will be exactly 3 months of having the AMEX gold card. So chances are better.

Update 09-24-19: I missed a car loan payment and i'm now at 32 days late!!!!!!!!!!!!!!!!! I'm on month 32 of 36 of this car lease. I paid this bill yestrday and it hasn't hit my credit with the  30 day yet. Not sure if it will or not. I paid August and September at once.

Now the question is. Should I even bother applying now for the platinum? Now am I wrong to think that if the soft pull is perfomed as usual on the 27th and the baddie isn't reported untill next week lets say then I can actually apply considering the soft pull has all the updated positve things on my credit from the 27th pull?????

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There is a possibility that if you are approved for the Platinum with a score of 780, and then if your score drops significantly during AmX SP review of your accounts, which they indeed do, your new AmX card can still be closed or CLD. 

[randomguy1]

AMEX's policy is 2/90 and it is not supposed to include charge cards so you should be good on that front.

Please call BMWFS ASAP and get it resolved. Let them know you are enrolling in autopay (which you should have on anyways) and see if they will forgive you. 

[Anonymous]

I was 33 days late when I paid off August 21st and September 21 last night.. Payment was due on August 21st.

[Anonymous]

Wow I didnt even think about that. What about my current Gold card which I use heavily and pay off every month. Can that be clsoed as well?

[randomguy1]

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@Anonymous wrote:

Wow I didnt even think about that. What about my current Gold card which I use heavily and pay off every month. Can that be clsoed as well?

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Log in to your account and click Payments in the blue navigation bar, then select Manage AutoPay.

Almost all your bills should have an option for Autopay. You should be able to do it for all reoccuring bills. There is also an option on most banks to do it from their portal so you can manage everything in one place if that is what you want to do.