AMEX Gold Approval!

[Rex95]

This is the third time I've posted to the approvals board in the past 7 days, so it's safe to say that I've had a great week! I think I'm done for this week.😂

I had a short period of high utilization on two of my revolving accounts over the past few months 85% and 88%, respectively (with 75% overall). Keep in mind that the spending limits on these accounts are relatively low. $1,900 and $2k, respectively, so it's not like I had 15k limits that were maxed out. I paid both of these off about a week ago, but they won't report until later in November. I said "what the heck" and took the plunge today, anyway. Amex gave me a mini heart attack when the "Would you like to add additional cards?" page appeared, but when I saw that, I knew things were looking good. BOOM! Instsntly approved, with 85+% utilization still on 2 revolving cards since my report hasn't updated yet. Also worth noting, I have 5 late payments (nothing more than 60 days) still reporting with the most recent being almost 6 years old. Also worth noting, and a big reason for my approval in my opinion, is that even though my utilization on 2 cards was very high, my DTI is extremely low. Less than 5%. AAoA was also 6 years, and only 2 inquiries which will fall off in January.

EX was 717 at approval. When the paid off balances report at the end of November, I'm sure that number will jump to the mid - upper 700s.

This is my first AMEX, so I'm very happy about this one. A great end to a great week of CLIs and credit success!

[Rebuild2019]

Congratulations 🎉🎈🎊 on your AMEX Approval. I Remember how I felt when I had My AMEX approval. Enjoy!!

[M_Smart007]

Congratulations on your AmEx Gold approval  !!!

[Anonymous]

Congrats!

Can you share where/how Amex sent you the card solicitation?  I'm curious to know what pipeline they used to track you down for an offer.

[Irv02]

Congrats on your approval with Amex!!

[Rex95]

They didn't.😂 I went to their website to check for offers, and was prequalified for all their cards. I jumped on the 75k offer for 4k spend in 6 months on the Gold. They've never sent me an offer in the mail, email, etc.

[gdale6]

Grats on your gold as the first one

[practical1]

Excellent work!  Your example provides hope, for so many who don't have "textbook," pristine credit files.  The Gold Card is, to my mind, one of the better values in a premium card.  If you judiciously take advantage of the many small credits available for purchases, over the course of a year you can easily recoup the annual fee.  Hope you ordered the rose gold version -- it's really attractive!  Nice weight, feel and "plonk," too.

Next stop for you might be to look at some of the AMEX credit cards, once you've built-up some history with them.  

[Rex95]

Thanks for your comment! I plan to get a BCE after a few months (for gas purchases only) since that's a major expense for me. I want to put everything on the Gold for the first couple months so I hit the sign up bonus though. Oh, and I agree that the rose gold looks good, but I went with the original... I'm a purist😂

I will also say, for anyone with high utilization, I do not condone getting ANY new credit until the balances are paid off. Paying down should be priority #1. Otherwise, any reward you earn will be offset by interest payments. In my case, I had already paid both of them off, but went ahead and applied before they reported because I have very few inquiries and didn't mind taking that risk. If my DTI were higher, I'm sure I would have been denied.

[cashorcharge]

That’s terrific!  Congratulations on your AMEX approval!! 👏🏼🎉🍾