AMEX Approval? Are my odds Menh?

[Anonymous]

I have a 663 Experian, and one over 120 late that I have been paying off from Dec 2016

-3 other credit cards all with great credit history

-Income 120k

Do you think if I pay off the rest of this derog, that I can apply for an AMEX and get approved, or do I have to wait for it to fall off to get approved?

When It does fall off I'm pretty sure I should be fine, but thats in 2023 :/, I just want an AMEX lol.  

[Shadowfactor]

Have you tried Amex’s prequalified site ?
It’s normally very accurate if you do get an offer.

What card did you want from them ?
Some are much easier to get then others

[FinStar]

That 120-day late may be a factor, but ultimately this would be weighed on your overall profile, income, etc.

Have you checked to see whether any AmEx pre-qualified offers are available?

[Anonymous]

I just typed into google "AmEx pre-qualified offers are available", and found out I can check. Thank you for the advice, I had no idea that the offer check was online.  I was thinking old school i.e. waiting for it to come in the mail.  If you prequalify does it mean that you will likely be approved, and will it show up as an inquiry?   

[Anonymous]

Def didn't try I was aiming for the  premium rewards gold card, green card, or the everyday card.  Are any of those easier to get?  Right now that I'm on their site I see a Cash Magnet card, I didn't know anything about that?

[FinStar]

I would focus on the card that provides a match or actual benefits that you're looking for, rewards-wise and whatnot.

I would definitely not select a card with the intention of just "getting in" or "getting a foot in the door" type of thing. Often what is reported on here, for those scenarios, are folks who feel "stuck" with that product or didn't do some due-diligence with the overall benefits to determine if the product was a good fit.

[Anonymous]

Thanks, I def had the foot in the door mentality. I know that my mother has been with them for decades and they tend to send her offers for new and different cards often.  

[K-in-Boston]

The charge cards (Green, Gold, Platinum) do tend to have lower underwriting standards than the revolving cards. Anecdotal evidence seems to point to cards like the Delta Gold SkyMiles card having more relaxed standards, as well. But I would wholeheartedly agree that you should pick an Amex product that best fits what you spend money on and what benefits you want. Earning Membership Rewards on a charge card or EveryDay card would be a poor choice for cash back since it works out to something like 0.6% back, for example.

[Shadowfactor]

The prequalified site is a SP of you credit.

I agree with finding the right card for your spend.
You would want to determine if you want points or cash back.

Here are some of the best SUB’s for the more popular Amex cards.
Try incognito browsing or the cardmatch.com tool to see if you can get the best offer to populate.

Amex PRG - 50K for 1K spend
Amex Platinum - 100K for 5K spend
Amex ED - 25K for 1K spend (also 2K spend)
Amex BCE - $250 statement credit
Amex Delta Gold - 60K Miles + $50 statement credit for 3K spend
Delta Platinum - 70K + 1OK MQM for 3K spend
Cash magnet- $150 + $150

If you decide to get an Amex card. You will want to signup for the best Welcome offer you can as Amex has a once per lifetime rule. If you can’t get the offer to show up that I listed. Try googling tricks to get it to display or wait and try again. The waiting could take several days with checking several times