AMEX question

[Anonymous]

Hello All!!

I'm in my rebuild and just wanted to know what scores did you all have when you finally got approved? I know I'm a long way before I get there but just want some background info.

Thanks!

[Anonymous]

I'm not sure my DP's are much help to you, but I was first approved for Amex ED $2000 SL 24.99% APR, with AAoA <1yr, 680 Fico, Util 30%, no bad marks.  I've since increased CL to $6,000 via the typical 61 Day 3X CLI method, and will be requesting an APR reduction when the 0% promotion ends.

[Anonymous]

@DontMindMe thank you! I'm open to all information as I know each person's approval varies but just want to see that way I know what my target area should be.

[Anonymous]

@DontMindMe how many tradelines did you have before you got your amex card

[Anonymous]

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@Anonymous wrote:
@Anonymous thank you! I'm open to all information as I know each person's approval varies but just want to see that way I know what my target area should be.

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No problem.  I'm a big proponent of the idea that there's no such thing as too much information.  My circumstances were unique in that I had a ~relatively high credit score, but my portfolio was, and is, paper thin.  From my understanding Amex is known to be generous to those with younger portfolios, but I'm not sure how their feelings are towards those rebuilding.

[Anonymous]

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@Anonymous wrote:
@Anonymous how many tradelines did you have before you got your amex card

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1 account: BOA Cash Rewards.  Age of account when I appplied for Amex was just shy of a year I believe.  No missed payments, util ranging from 0-90% but always paid down to <30%.  I had a prior relationship with BOA which is how I was approved for my first card (in branch).  

[Anonymous]

Ohh ok what was your credit limit on your BOA card?

[Anonymous]

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@Anonymous wrote:
Ohh ok what was your credit limit on your BOA card?

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It started at $1500 and has moved up over the course of 4 CLI requests (4 successful) to $6000.

[Anonymous]

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@Anonymous wrote:
Hello All!!

I'm in my rebuild and just wanted to know what scores did you all have when you finally got approved? I know I'm a long way before I get there but just want some background info.

Thanks!

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It depends on what card you want plus your credit profile. The score they pull is based off Experian 8, so find the model that matches exactly that and you'll know what score AMEX will pull when you apply for one of their cards. 

I would suggest having at least one year of credit history, less than 30% utilization, and having a net worth helps you more than your income really. Don't worry about inquriies, AMEX doesn't seem to care. 

[Anonymous]

I believe low end scores start  around 650  to 660.  DW was approved with 720 score 12 other cards for $15K.  We raised to 20K and that is all we want. Now   for me 705 score 5 cards $1.5 limit. Dw interest rate is 13.xx mine I think is 18.xx   I have not figured this out but perhaps they associate me with a biz I sold  and the new owners tried to burn Amex and I had to pay it even though it was not my bill.  That was so much fun.