AMEX 2nd card....utilization question

[Anonymous]

I receive an annual bonus of 5,000, the plan is to pay down as follows:

NFCU 4000/5000  pay 3,000 bringing util to 30%

NFCU 2500/3000  pay 1,500 bringing util to 33%

AMEX 600/1000 pay 500 bringing util to 10%

this will bring my total utilization to 22%

This should bring my scores to around the 700's and then apply for the 3x CLI.

[NRB525]

Paying down the balances is an excellent step.

Keep in mind as an existing AMEX customer, many of your CLI and new account interactions will be based on SP data. So it will be best to get the balances down, continue all payments on time, and let time pass to allow another SP cycle to update AMEX’s records, before going for either CLI or a new app.

[EAJuggalo]

I got a BCE last year with over 70% UTIL and scores about 660 EXP.  What else is holding that score down?  A score in the 630's would take more than just 48% UTIL.  What other things did AMEX put on your denial sheet?  Usually they put three.

[charp150]

Been in this boat before. It sounds like you came into AMEX with a high customer management score (their internal risk metric).  You wont get a 2nd card until you come out of their higher risk tier. Give it some time.  Once you are off AMEX probation they will open the flood gates.  For me, it took about 8 months but I burned AMEX a long time ago so I’m sure that was an aggravating factor.  It’s frustrating, but AMEX will be very good to you if you manage the relationship well.  When I started rebuilding my AMEX relationship, they gave me a PRG and wouldn’t approve anything else (couldn’t even get Delta Gold).  Now they wont stop pelting me with preapproved offers.  

Also, the denial reasons enumerated in their letters are likely not the ground truth.  You could have a 800+ FICO 08 but if something is triggering their internal models as a risk indicator you may as well be in the 600’s.  

[Anonymous]

Its unlikely that Amex would cite 48% utilization as the primary reason for denial.  For one of Amex's core credit cards like the BCE you need an Experian FICO 8 score of at least 640 to qualify for their "credit steps" program, and at least 670 to get a regular approval.

Also, even with 48% utilization a clean credit report will not result in scores in the low 600s; there has to more than what you've disclosed so far.

The co-branded Amex cards that are offered in conjunction with airlines and hotels like the Delta Gold have less underwriting standards that the core Amex cards so its possible to be approved with low scores but its unlikely they will approve a second card unless your scores improve.

[Anonymous]

AAOA is 11 months, another reason cited on CLI denial previously. Checked pre qualified offers today and now i am prequalified for the HH and starwood. This is the first time seeing any other prequals. Neither of the cards i want but it seems like progress. With these prequalifications is that any indication i may have a better chance at a CLI?