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Timing of Amex app

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Anonymous
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Timing of Amex app

I've always eventually wanted to branch out into the Amex world, but I want to do it right. Trying to figure out when that is "right" is a totally different story, apparently. About 6 months ago I started getting the standard green card/gold card pre-quals on the site. Today I checke on a whim and it gave me the EveryDay with a 25k point offer, the BCE with up to $450 back, and the BCP with up to $450 back. 

 

I pulled my reports just to see where I was at, since I had a 3b laying around that I hadn't used earlier this year. Sitting at EQ-676, TU-671, EX-672. My only baddie is a collection (and of course it's on Exp) from six years ago. I've had some recent apps, the latest being a CITI diamond preferred from March. A handful of inqs on TU, 2 each on EQ and EX. AAoA is just over 3 yrs. Running approx 45% util. Salaried income just under six digits. I started with a lot of Comenity but have some "okay" lines of credit- BoA at 1.8k, that new Citi also at 1.8k, Barclays NFL at 5.4k (just got an auto CLI two days ago!). Three Comenity co-branded credit cards ranging from 2.5k-3k. 

 

So my question is: should I just say heck with it and apply now, or pay down until I'm under 30% util and app then? Am I just going to get a toy limit with a score sub-700, anyhow? I think I probably should stay in the garden but it's so hard... credit is addicting.

 

Message 1 of 5
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Anonymous
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Re: Timing of Amex app


@Anonymous wrote:

I've always eventually wanted to branch out into the Amex world, but I want to do it right. Trying to figure out when that is "right" is a totally different story, apparently. About 6 months ago I started getting the standard green card/gold card pre-quals on the site. Today I checke on a whim and it gave me the EveryDay with a 25k point offer, the BCE with up to $450 back, and the BCP with up to $450 back. 

 

I pulled my reports just to see where I was at, since I had a 3b laying around that I hadn't used earlier this year. Sitting at EQ-676, TU-671, EX-672. My only baddie is a collection (and of course it's on Exp) from six years ago. I've had some recent apps, the latest being a CITI diamond preferred from March. A handful of inqs on TU, 2 each on EQ and EX. AAoA is just over 3 yrs. Running approx 45% util. Salaried income just under six digits. I started with a lot of Comenity but have some "okay" lines of credit- BoA at 1.8k, that new Citi also at 1.8k, Barclays NFL at 5.4k (just got an auto CLI two days ago!). Three Comenity co-branded credit cards ranging from 2.5k-3k. 

 

So my question is: should I just say heck with it and apply now, or pay down until I'm under 30% util and app then? Am I just going to get a toy limit with a score sub-700, anyhow? I think I probably should stay in the garden but it's so hard... credit is addicting.

 


That's a pretty good offer for the BCE since the public offer is only $300.

 

You could try to app if you feel you can meet the spending requirements naturally (putting your bills on it).

Careful, though, because not all utility bills accept Amex. Only my internet and cell phone bills do (my water and electricity companies do not accept Amex).

 

They pull Experian, so that one collection might make it an auto deny.

I'd lower your util and wait for the collection to fall off (I think 7 years) and then apply.

 

Message 2 of 5
Anonymous
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Re: Timing of Amex app

you might also want to check in an incognito tab in Chrome. I tested last night with Amex's prequal and I got better offers in the incognito tab than normal, and even better in a Tor browser than in a Chrome incognito tab.

 

Weirdly, the Tor browser gave me a 70k MR for 7k spend on Amex Platinum...

Message 3 of 5
Anonymous
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Re: Timing of Amex app

I would pay down your utilization to a single digit %.  Your income is high and if you're at 45% utilization over the cards you have (that don't have very high limits) it would seem to me it would be quite easy for you to pay down your card(s) to a single digit utilization.  Doing so not only will likely give you a 10 point bump or so (could be a little more or a little less) across your scores, but it simply "looks" better and people say that Amex likes low utilization so it would probably help your chances.

 

I am somewhat in the same boat as you, looking to app for Amex very soon (hopefully next week) and recently paid my utilization down from 34% to 5% just last week in preparation for applying for Amex.

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Anonymous
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Re: Timing of Amex app

I just got approved for 1k SL on Monday for the BCE . My experian is 676, 34% utilization, 17 inquiries and 1 collection from almost 5 years ago.
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