I would like advice on if I have a chance of getting approved for the Amex ED card.
The pre approval site constantly approves me for both the BCED and the ED cards.
My Fico EX is 692
I have a Lowes ccd $3500 limit 90% utilization due to new appliances. (opened 19 mos ago))
Local Credit Union Mastercard Rewards $500 limit. 0% utilization. (opened 2 yrs ago)
2 current car loans. (one opened in 2015, the other opened over 12 mos ago)
No lates and No baddies.
12 months since my newest account was opened.
0 applications for credit in the last 12 mos.
I am more about quality than quantity, and would really like to have an american express
I would truly appreciate any help that you guys could give me concerning my approval odds.
Thanks You ahead of time !
You got pre-approval? What are you waiting for? You also have zero applications in the last 12 months. What is the negative to applying?
I think your pretty much set. You should get a SL between 1k -5k from the data ive read here on the forums. Only thing is that I would really bring down the Utilization on the lowes card. Its way too high and could be a denial factor. Id brind that down then apply.
The Lowes credit card is the only thing that I am worried about concerning my approval odds.
I am attempting to pay the card down at the moment.
Lowes reports twice a month to the credit bureaus and is charging me double interest !
making it difficult to bring the balance down.
Once I get Lowes paid off, I am going to throw it in a drawer to collect dust. (Hate the card) !
Lowes only lets you pay through your bank account through a routing number, no other type of payment is accepted.
So, you dont think I have very good odds of getting approved for the Amex ED card ?
its kind of 50/50 to be honest. they may approve you and they may not. I honestly would just wait on it. It will still be there when you bring your utilization down.
Thanks for your input.
I appreciate your time.
Does the preapproval page give you a single APR or a range of APR's? I was approved for BCE in March with an EX of 698 and aggregate utilization of 49%. Highest utilization on one card was 65%. (I really shouldn't have applied, but did apply due to the single APR listed in the preapproval). I received. $2,000 starting line, which tripled last Tuesday with a SP CLI. Of course, as always, YMMV!
That would be great to get a nice starting limit.
I want to get the best SL that I can.
My credit is very clean except for the close to maxed out Lowes card.
I def dont want to waste a HP on an Amex denial due to high utilization
This is a card that I really want to add to my file for sure !
I received a preapproval message with the following information.
This offer does not come with an intro apr or welcome bonus offer.
Variable rate on purchases and ballance transfers
Currently 23.74 %
This information is on both the ED card and the BCED card offers.
Does this look like a good offer ?