Cracking the code with Amex?

[Anonymous]

I was successful in obtaining a PRG with active Optima Oasis.  Here's my post....

Good luck to you! 

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/Confirmed-Approved-for-AMEX-PRG-without-cl...

[nitrov]

The last negative to hit my report was probably around 4/2008. My utilization is usually between 25-35%.

Anybody have any opinions on how I should proceed with Amex?

I spoke to someone in credit analysis for Amex who told me he's never approved a new card application with an Optima open. Not sure if that's correct across the board, as it looks like there's been exceptions, but it may be my best bet to increase approval chances. They did say if I have a current account in good standing there's no way I'm blacklisted, in so many words.

If I'm going to close it I need to time it carefully and make sure my approval chances are as high as possible. Need to figure out which card to apply for and when based on my credit. Input?

[nitrov]

---

@Anonymous wrote:

I was successful in obtaining a PRG with active Optima Oasis.  Here's my post....

Good luck to you! 

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/Confirmed-Approved-for-AMEX-PRG-without-closing-Optima-Oasis/m-p/2638697

---

Wow, that's an extremely interesting data point, especially with your EX scores being under 700. Did they do an HP? I'm fairly certain I wouldn't get approved for a PRG since that's the card I had back in 2008 that they revoked from me. I guess they consider charge cards to be lower risk than revolvers, and when I apped last time it was BCE which is a revolver. I'll definitely have to go the charge route, looking like going with Green or a business card are my best options. 

[nitrov]

---

@Anonymous wrote:

I was successful in obtaining a PRG with active Optima Oasis.  Here's my post....

Good luck to you! 

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/Confirmed-Approved-for-AMEX-PRG-without-closing-Optima-Oasis/m-p/2638697

---

Also, were you able to backdate for the membership on the PRG? How's that reporting on your credit bureaus? Still keeping the Optima open?

[Anonymous]

If your utilization is 25-35%, have you thought of trying to lower it and see if you can get a score boost, and increase your chances with Amex?

[nitrov]

---

@Anonymous wrote:

If your utilization is 25-35%, have you thought of trying to lower it and see if you can get a score boost, and increase your chances with Amex?

---

I've definitely tried sitting in the 10% utilization area and it didn't do much for me. I'm trying to play the game with carrying a balance on my Barclayscard to get their auto CLI in 3 more months and I'm also closing on my first house in about 2 weeks. I'm trying to time things carefully because I may have to apply for Amex before the mortgage hits my bureaus and my scores take a dive. They didn't even pull my credit when I apped with them last time so I don't want to dish out cash to pay down if it's not going to have a high probability of increasing my odds for approval.

[09Lexie]

---

@nitrov wrote:

---

@Anonymous wrote:

I was successful in obtaining a PRG with active Optima Oasis.  Here's my post....

Good luck to you! 

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/Confirmed-Approved-for-AMEX-PRG-without-closing-Optima-Oasis/m-p/2638697

---

Wow, that's an extremely interesting data point, especially with your EX scores being under 700. Did they do an HP? I'm fairly certain I wouldn't get approved for a PRG since that's the card I had back in 2008 that they revoked from me. I guess they consider charge cards to be lower risk than revolvers, and when I apped last time it was BCE which is a revolver. I'll definitely have to go the charge route, looking like going with Green or a business card are my best options. 

---

The UW is the same for charge cards.  If you are going to be approved for Green, it would be approved for PRG

[efranklin23]

@OP, I would wait another year (to clear any inquieies effects) and then get the UTI down to 5-10%. As far as 2008 is concerned, chances are your card was closed due to the tightening in the 08 financial crisis with the banking institutions. And also, based on your scores in the early 700's you would have a chance even the with revolvers like BCE and Skymiles as I got the card with an 680 credit score. 

[nitrov]

UPDATE of the century for me!

So my credit score has finally inched it's way up on all 3 bureaus and EX is right around 718 right now. I placed a fraud alert on all my bureaus, apped for the PRG on the 31st, got the "need to review your application" response, and called in. I spoke with a rep yesterday and canceled my Optima card after I saw the hard pull from EX on my credit report. Today I called back and spoke to New Accounts, did the fraud alert verification, and to my EXTREME and very pleasant surprise, I was APPROVED for the PRG card!

WOOOOOOOOOOOOOOOOOOOHOOOOOOOOOOOOOOOOOO

Not sure if closing Optima was in any way necessary, but it worked out for me perfectly. 

I got a little cocky and figured I'd try apping for the Gold Delta card for business, got the "further review" response, called in, and it was auto-declined, likely since I just got the other card today. I guess I'll have to wait a few months on that. 

How long do you guys recommend I wait before I apply for a revolver? I'm dying to get a card with a good solid CL over $5000.

---

@09Lexie wrote:

---

@nitrov wrote:

---

@Anonymous wrote:

I was successful in obtaining a PRG with active Optima Oasis.  Here's my post....

Good luck to you! 

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/Confirmed-Approved-for-AMEX-PRG-without-closing-Optima-Oasis/m-p/2638697

---

Wow, that's an extremely interesting data point, especially with your EX scores being under 700. Did they do an HP? I'm fairly certain I wouldn't get approved for a PRG since that's the card I had back in 2008 that they revoked from me. I guess they consider charge cards to be lower risk than revolvers, and when I apped last time it was BCE which is a revolver. I'll definitely have to go the charge route, looking like going with Green or a business card are my best options. 

---

The UW is the same for charge cards.  If you are going to be approved for Green, it would be approved for PRG

---

[09Lexie]

Good for you!