I have been in a rebuilding phase and now have crossed over 680 and gotten all my baddies taken care of.
I have basically been in the garden for long time doing all I can to get my scores up, paying off debt and couple of charge offs as a result of financial struggles in 2014. I worked to do all that I could before adding any accounts so that I could acquire cards that I want long term rather than having builder accounts that I perhaps closed later.
I previously had AMEX Gold account that was closed in good standing in 2014 paid in full that I had originally opened in 1987. It was closed based on review of my scores at the time and other poor account status at the time with accounts separate from AMEX.
When I check prequal page for AMEX, I am now shown Hilton Honors and Delta Miles cards.
Are Green, Gold, Platinum normally something I would expect to see on this result page if I am eligible or are these types of accounts not something that one would see under prequals?
For clarity, at the time of rebuild (November 2018) I had (2) active CC accounts both of which I have had a very long time.
USAA and Discover.
During the rebuild (May 2019) Discover closed my account during annual review. My scores were still low 600s. The account was in good standing. I had paid it to 0 balance back in December 2019.
That left me with (1) CC with USAA with 2400 CL.
I opened Checking/Savings with NFCU back in August, continue to dump cash into savings there week to week, did an SSL with them in September for 3k then promptly paid it down to < 250 balance in order to get an active installment loan as I don't have a mortgage, auto, or other loan. That boosted me another 15-16 points.
As of now, EX 682, TU 680, EQ 675.
This month (October), I app'd for Cash Rewards CC and was immediately approved for 25k CL and lowest APR of 11.65. This account was a single HP on TU. No change in score as a result.
AMEX Gold is just a card on my horizon, more of a personal reward for financial recovery as much as anything.
I'm not in any hurry was just curious if one typically sees these accounts as a result of prequal checking.
@Anonymous wrote:Gold card is not that hard to get. High 600 score is enough for it. I would find a good referral link with 50k SUB and apply for gold. Worst case is a hard pull and won't hurt you that much.
Delta gold is only good for subs, lol. If you want that, make sure it has a 60k+ SUB.
Is AMEX using EX only for HP or ____?
I looked for the thread which has who pulls from where but I haven't found it again.
@hawkins wrote:
I don’t understand why Amex would close your gold card since you had it since 1987 with good payment history. Score or not that’s kind of crazy on Amex part.
I guess they saw me as a risk based on other things going on in my reports.
Discover did the same thing in May 2019. 4800CL. Account opened in 1990. Paid them religously since opening and for 5 years through all my struggles that started in 2014, 1 30 day late in 2017, 29.99 interest no less the whole time.
Finally was able to pay off to 0 balance in December 2018. They didn't lower CL or anything. Might have expected that. Come May 2019 they closed my account. My scores were low 610-620 at the time across all CRAs.
I called them at at the time, they noted items that were found in my report. Told them those are paid they just haven't reported yet. Rep didn't care. Told me I could reapply in a few months.
Not sure I will ever open another account with Discover based on the experience but the point of pain is till recent.
@hawkins wrote:
I have seen Amex put limits on people they think are in trouble but when you have a perfect payment history with them after almost 30 years that just makes no sense. As to Discover that one maybe as it took a long time for you to PIF but PIF you did. For them to close it is kind of petty I would assume they would reduce your limit which happens but not close. Sorry for your troubles I have been in that scenario myself years ago that led to bankruptcy. It’s never fun and is very stressful but you seem to be pulling through. There was a time I thought I would never have any credit again much less an Amex card as my scores were like 400 at the time. I built it up so shall you. Best of luck to ya and its Discos loss Amex will take you back as you never missed a payment with them.
Vote of confidence much appreciated!
My story is long (whose wouldn't be at 50+ years of age) but the journey is what the journey is. I am truely blessed in so many ways that have nothing to do with financial stature.
And while my credit scores and cards in my wallet or sock drawer may not yet fully reflect my financial recovery my bank and investment accounts certainly do.
The key words in that phrase are "may not yet".
Onward!