frustrated with amex and chase

[TRC_WA]

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@taxi818 wrote:

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@jamesdwi wrote:

Amex likes a score of 700 or more for a revolver, if you want to really get in with AMEX, you can apply for a charge card and boost your internal score and try in 6 months for a revolver. 

Chase also likes 690 score and no baddies in at least the last 2 years, with 1 year experience with a major credit card. 

 work on cleaning up any other baddies on your report, good will lettters and pay for deletes can help, if nothing else, time heals almost all credit problems. Idealy you should have at least 3 or more Tradelines reporting for optimum score, and total UTL of less than 30% perferably  less than 9% and only one card reporting a balance. 

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That is far from the truth. in fact amex looks at overall profile. not just your fico score as they have their own internal scoring.

Case in point. countless people here at my fico got their first revolver with amex. from 650 and up. me included. got mine with a 661 ex fico. but the report was virtually clean. 1 collection 5 years old paid in full .was only 200 total. cable bill. 0 missed payments ever. in 5 years. 0 lates. low util with lots of inquiries. got a 10k limit too. so that is not the case most of the time with amex. it is something on your report they don't like. such as C.O. unpaid colleciton or lates. those are the things that will do you in. not your fico score. which is good.

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+1

I got a $5k AmEx Delta in December 2014... no previous AmEx relationship... 5 1/2 years out of a BK13 filing with a 680 EX score and no INQs in the previous year.

[Anonymous]

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@jamesdwi wrote:

Amex likes a score of 700 or more for a revolver, if you want to really get in with AMEX, you can apply for a charge card and boost your internal score and try in 6 months for a revolver. 

Chase also likes 690 score and no baddies in at least the last 2 years, with 1 year experience with a major credit card. 

 work on cleaning up any other baddies on your report, good will lettters and pay for deletes can help, if nothing else, time heals almost all credit problems. Idealy you should have at least 3 or more Tradelines reporting for optimum score, and total UTL of less than 30% perferably  less than 9% and only one card reporting a balance. 

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With Chase it really depends on the card, and it also helps if you bank with them.  I got Chase Freedom after having a bank account and with a 600-625 score on EX and TU (they double pulled).  Chase Sapphire Preferred isn't even doable unless you're above 680.  Even better if you're above 700.  CSP and Amex like to compete with each other on balances.  From what I understand if you're CSP is a certain limit, Amex will more than likely try to match or beat that limit on a revolver.  I'll put that to the test later. 

[tonyjones]

It's interesting how totally different credit profiles AMEX/Chase approves for. OP has no derog but it seems like very thin profile.

I app'd for Chase/AMEX two weeks ago and got approved for all three cards (ED,BCE, Slate).

I had 6 derogs still reporting but I had 9 accounts reporting in good standing, along with an auto loan and student loans.

[TRC_WA]

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@tonyjones wrote:

It's interesting how totally different credit profiles AMEX/Chase approves for. OP has no derog but it seems like very thin profile.

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Yep... as I said in my previous post I got a $5k AmEx revolver... but Chase won't approve me for anything despite no previous relationship with them either.  I even called to recon and requested a $500 Freedom just to "get in the door" and they still said no despite the fact I have multiple $5-10k bank cards and no derogs since filing Ch 13 over 6 years ago.

It's fine... Chase will be throwing cards at me in another 6 months when everything falls off my reports.

[roniram]

Definitely true.  I have no lates, no derogs, AAOA of 3.1, and although I got approved for AMEX Platinum,  AMEX BCE and Chase Freedom, there is some internal scoring that is limting the amount they are willing to approve me for, witch was only a $1,000 CL on each, and unsuccessful recon for an increase on both. Even though I think I have decent scores, and income.  So, you never know how some of these prime lenders are going to determine how they will look at your credit potential - especially when you are trying to get your foot in the doore. 

[takeshi74]

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@stickbowbuilder wrote:

will amex and chase EVER pop open for me??????

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Probably -- just not with your credit in its current shape.  It takes time to rebuild.

Being cited for inquiries is generally a sign that there are other concerns with your credit.

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@stickbowbuilder wrote:

then last year took an interest in my credit. i was in the low, very low 600 range with one delinquent mark from a medical bill. i paid it off and negotiated to have it taken off the reports, it was taken off the reports and all three agencies. i got a secured wf card, a Kay's card and three gas cards. have watched scores jump, but with the reasons I got for denials and a frank talk on a recon, it is looking like I'm just too new to recent credit. in 6 months I most likely will get em.... just frustrated I seem to have the score but not the time lol...

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That is a lot of new accounts in one year for your credit profile.  Keep in mind that, as stated above, it's never just about score.

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@Anonymous wrote:

CSP and Amex like to compete with each other on balances.

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Even if you mean limits creditors do not simply match limits.  Limits are determined based on what one's credit and income qualify for against a given creditor's criteria.

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@tonyjones wrote:

It's interesting how totally different credit profiles AMEX/Chase approves for.

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Underwriting criteria can and do vary among all the creditors -- not just AmEx and Chase.

[TheGardner]

OP you have no derogatory marks at all?

Not sure what is going on with the information you provided but with a clean report with low utilization and 3 years AAoA your scores should be higher. Have you viewed your c report lately?

Unrelated to the above question as they won't hurt that bad, how many inquiries do you have?

[Nocturnal]

The way I got into Amex was to not have any inqs for at least a year. Then I had probably at the time 20% total util. I have no late payments or collections on record or bk. I applied in December and was surprised to get approved. Prior to that I have been trying for a while now, several years and never able to get an Amex card.

[stickbowbuilder]

that is correct, zero derogs, low util. however.... up until about two months ago I paid cash for everything. used credit twice in my life. so right now I have a short creditg history and inquiries with a Kay's card (4000.00), three gas cards (500.00, 500.00, and 800.00). a secured wells Fargo card (500.00) and lastly a cap one quicksilver (300.00). my util is 2%. I have around 6 to 8 inq depending on which report your looking at and credit scores from eqiufax of 678/700/688 taken yesterday. amex reported 691. so, I think it is a matter of paying off the balances as I use the cards and in six months I'll have some history.

[TURNERHOOVER]

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@taxi818 wrote:

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@jamesdwi wrote:

Amex likes a score of 700 or more for a revolver, if you want to really get in with AMEX, you can apply for a charge card and boost your internal score and try in 6 months for a revolver. 

Chase also likes 690 score and no baddies in at least the last 2 years, with 1 year experience with a major credit card. 

 work on cleaning up any other baddies on your report, good will lettters and pay for deletes can help, if nothing else, time heals almost all credit problems. Idealy you should have at least 3 or more Tradelines reporting for optimum score, and total UTL of less than 30% perferably  less than 9% and only one card reporting a balance. 

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That is far from the truth. in fact amex looks at overall profile. not just your fico score as they have their own internal scoring.

Case in point. countless people here at my fico got their first revolver with amex. from 650 and up. me included. got mine with a 661 ex fico. but the report was virtually clean. 1 collection 5 years old paid in full .was only 200 total. cable bill. 0 missed payments ever. in 5 years. 0 lates. low util with lots of inquiries.o  got a 10k limit too. so that is not the case most of the time with amex. it is something on your report they don't like. such as C.O. unpaid colleciton or lates. those are the things that will do you in. not your fico score. which is good.

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True, recieved my first Amex with a 661 EX score two collections and one CO.