AMEX Questions

[cabledude27]

Hi I am coming off a Chapter 11 successful completion and discharge in May 2023.

First question, I've noticed AMEX has yet to report to my credit bureaus after opening my account and it's going on for 2 months.  Is this normal?  When they report I should get a decent bump due to the credit line I have with them and the positive impact on my utilization. I'd like to get an AMEX Platinum, can I do that now or should I wait?  I also want the Citi AA Executive card would I have good chances for that one?

Scores:  EQ - 716, TU - 725, EX - 721

Cards:
Apple card - opened 4/13/23, $500 CL, $150 balance.  I use it a lot for small Apple Store purchases and Apple subscriptions and pay down within billing period and carry < $100 balance monthly

Chime - fund usually $200 a month and spend similarly 

Capital One Savor One - opened 5/24/23, $500 CL, $1 balance, carry very little balances, usually PIF

AMEX - opened 6/23/23,  $1000 CL, $16.28 balance, used a little more but paid down within the billing period, havent carried balance

[GZG]

It usually takes two statements to post and some days after that for Amex to report. 

As for the Plat, go into your account on desktop, find the Recommended Cards For You button, click it, find the Amex Plat, click apply and see if it says you're pre-approved or not 

if it says pre-approved, you're pretty likely going to be approved, I'd imagine 

if it says 'Applying to expand your Card Membership with us is easy', I'd think it would be less likely you would be approved. 

[FireMedic1]

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@cabledude27 wrote:

Hi I am coming off a Chapter 11 successful completion and discharge in May 2023.

First question, I've noticed AMEX has yet to report to my credit bureaus after opening my account and it's going on for 2 months.  Is this normal?  When they report I should get a decent bump due to the credit line I have with them and the positive impact on my utilization. I'd like to get an AMEX Platinum, can I do that now or should I wait?  I also want the Citi AA Executive card would I have good chances for that one?

Scores:  EQ - 716, TU - 725, EX - 721

Cards:
Apple card - opened 4/13/23, $500 CL, $150 balance. < $100 balance monthly

Capital One Savor One - opened 5/24/23, $500 CL, $1 balance, carry very little balances, usually PIF

AMEX - opened 6/23/23,  $1000 CL, $16.28 balance, used a little more but paid down within the billing period, havent carried balance

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Bring this down to $30 or 6%. Your sitting at 20% passing one threshold.

[Anonymous]

Re the Citi AA Executive: your current CLs are low.   The Citi card has a substantial annual fee and you would generally want a pretty high CL on that to take advantage.    Now that doesn't mean Citi would deny, they might be happy to take the AF and give you a low CL, but you might not be so happy.  Or if you can use the benefits of the card unrelated to CL. 

The Amex charge cards have much easier underwriting generally.

[Webspry]

Personally I'd stay away from any cards that have annual fees at this stage of your credit rebirth. Carry no balances, zero. Swipe and payoff for the next year or so. Every 3-6 months request CLI on your current cards. Maybe in 1 year you should go after A Chase product that is right for you or Discover. At that point you'll have relationships with the Big 3. Then add the Amex Platinum only if it makes sense for you to pay $700 a year annual fee, for most it doesn't. 

[JenniferBoyce]

Congratulations!

[Anonymous]

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@Webspry wrote:

Personally I'd stay away from any cards that have annual fees at this stage of your credit rebirth. Carry no balances, zero. Swipe and payoff for the next year or so. 

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Is there any evidence that this has a positive impact (vs doing one payoff before statement close/reporting for example)?

[cabledude27]

For some reason, I wasn't getting any emails or alerts of replies to this, so I applied with Citibank and got denied.  Waiting on the letter for reasons why.  

Amex told me to supply a bunch of documentation which I did, and waiting for their response, so we'll see.  

[cabledude27]

Thanks, I wasn't getting alerts or emails about responses to my thread.  AMEX wasn't a flat-out no; they wanted me to supply documents for further review to decide whether they could approve.  Supplied what they asked for and waiting on their response.  

[cabledude27]

AMEX Platinum just got approved!!  Card and info should be here by next Tuesday.