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What are my chances of approval for AMEX cards?

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What are my chances of approval for AMEX cards?

I'm trying to lower my utilization credit because of a couple of bad choices when we went out of the country on vacation a few months ago. I currently have two credit union cards, one at 1K CL and the other at 2K CL, Chase Freedom Unlimited at 1.5K CL, and Capital One Platinum Mastercard with 4.5K CL. I'm at 61% Utilization (Yes it's bad but I'm not charging anything on the cards at all and I've been paying $100-200 each month for the cards that have balances). I've never had any late payments. The only "bad" thing I have on my reports are the uilization and age of oldest account (2 yrs 6 mos). My TU and Equifax according to Credit Karma is 651 and Experian at 671. I'm open to any AMEX but I have gotten pre-qualified offers for the Everyday and BCE through mail and online. And when I checked again tonight for any changes on the offers, it changed to the PRG and the Green charge card. I was thinking of applying for the Everyday and Gold (maybe next month?). What are my chances of getting approved? Any other AMEX suggestions?

6 REPLIES 6
Senior Contributor

Re: What are my chances of approval for AMEX cards?


@cbl10 wrote:

I'm trying to lower my utilization credit because of a couple of bad choices when we went out of the country on vacation a few months ago. I currently have two credit union cards, one at 1K CL and the other at 2K CL, Chase Freedom Unlimited at 1.5K CL, and Capital One Platinum Mastercard with 4.5K CL. I'm at 61% Utilization (Yes it's bad but I'm not charging anything on the cards at all and I've been paying $100-200 each month for the cards that have balances). I've never had any late payments. The only "bad" thing I have on my reports are the uilization and age of oldest account (2 yrs 6 mos). My TU and Equifax according to Credit Karma is 651 and Experian at 671. I'm open to any AMEX but I have gotten pre-qualified offers for the Everyday and BCE through mail and online. And when I checked again tonight for any changes on the offers, it changed to the PRG and the Green charge card. I was thinking of applying for the Everyday and Gold (maybe next month?). What are my chances of getting approved? Any other AMEX suggestions?


The basic Green and basic Gold cards carry annual fees and are "charge" cards rather than "credit" cards meaning that in addition to paying for the privilege of having those AmEx cards, you must pay 100% of your charges each month. If I remember correctly AmEx charge cards  don't list a "credit limit" per se so they won't help your utility. Given that you are only paying $100-$200 on your cards that carry a balance, how is a card you have to pay in full going to help you out or your cash flow?  

Message 2 of 7
Community Leader
Senior Contributor

Re: What are my chances of approval for AMEX cards?

You might want to get your actual scores. CK scores are really not true scores and can be very misleading one way or the otherSmiley Sad

 

Are you just interested in just AMEX? You could try the prequalify sites like Discover, Citibank and as you stated AMEX. Just not sure if you have your heart set on AMEX or not.  

 

Not sure but AMEX pulled EXP for me and your score seems like you could get a low end tier of AMEX, not sure how they are regarding utilization though,  but YMMV.

 

I hope others will chime in.

 

Good luck

EXP 753 TU 781 EQ 733
Message 3 of 7
New Member

Re: What are my chances of approval for AMEX cards?

Well I'm currently still in college and only work part-time which is why I haven't paid the cards in full (I'm saving the extra cash for emergency). My purpose of wanting to get the credit card is to increase my total limit (and get good rewards while I'm at it) and the purpose of the gold charge card is when I eventually finish paying off my credit cards, I'm planning on using the PRG as my go-to card since they have good travel benefits (I frequently go out of the country/state) and I figured I won't charge anything on it that I may not be able to pay off each month so I thought maybe this would make me more responsible since I'm still currently learning the hard way of getting carried away with spending

Message 4 of 7
New Member

Re: What are my chances of approval for AMEX cards?

Out of all the credit/charge cards I have read about, only AMEX stands out since some of the benefits/offers the other banks are offering I already got from the cards I currently have. I also have heard about how good their customer service is. I was also interested with Chase's Sapphire Preferred but for some reason no pre-quals ever show up for me there. I thought it was a miracle when I got approved for their freedom unlimited last year

Message 5 of 7
New Contributor

Re: What are my chances of approval for AMEX cards?

I got the AMEX Gold Delta $1,000 SL at beggining of month with a 620 EX I believe but my utilization was 3% I believe could have been 20% if the paid collection was still counting against my utilization. The Gold Delta seems to be their easiest card for many to get, first year annual fee waived. Although current SUB isnt great they finished the 60,000 on the 10th or 11th of this month

Message 6 of 7
Regular Contributor

Re: What are my chances of approval for AMEX cards?

Work on getting your overall utilization down first and then try the online pre-qaul again.

 

Based on your scores(if you do the $1 CCT trial)  you should be able to pre qual for the Everyday, Blue cash every day or the charge cards.

 

I applied last Friday and was pre-qualed for Everyday, Blue Cash Everyday and  Green charge card. I opted for the BCE w/ a $500SL and their version of credit steps(5 payments ontime and a higher CLI or 3x CLI @ 62 days)

 

i hadnt been able to prequal for close to a year and when i saw i was eligible i jumped on it.  Ive got 2 derogs on my report with 1 set to fall off next year and my AAoA is 4.6 years.  my current scores are in my sig.  My overall util is ~32% and they pulled Experian for me in Virginia

Credit rebuild journey started 4/2017: Exp: 558|EQ:533|TU:565
As of 12/2018: Exp:679|EQ:652|TU:680

-Discover IT: $500 secured SL---->$1,950 |
-Capital One Venture 1: $5,500|
AMEX Blue Cash Everyday $1,000 (04/2018)|
AMEX Delta Gold SkyMiles $2,000(04/2018)| AMEX SPG $1,000(8/2018)| PNC Cash Rewards Visa $4,000(8/2018)| AU : United MileagePlus Explorer+ BoA BankAmeriCard
Message 7 of 7
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