Amex Applying Question

[Anonymous]

My DW was asking me if should apply for the Amex card. DW has tried several times on their pre-qualify and was never offered anything. Then as of last night DW was finally offered the GOLD, GREEN, and ZYNC.

Here is what is reporting on her EX:

3 INQ's more then 12 months old (Car Loan)

1 CC BOA 1500 limit Pays as Agreed - 2 and 1/2 years old  Balance 0... always pays in full

1 CC Orchard 400 limit Pays as Agreed - almost 3 and 1/2 years old Balance 0... always pays in full

1 Car Installment Loan Pays as Agreed  - 1 and 1/2 years old Balance 17K from 31k originally. 

Usually only shows about 3% or less UTIL.

Things to take into consideration;

DW had a collection that has recently fell off her reports (not showing any longer). Which has raised her FICO scores into the 700's - TU 703 EQ 746

DW also had an account with AMEX back in the 90's but doesn't remember what happened with the card. DW is unsure if had a balance but doesn't believe so as DW co-signed on a mortgage loan with her mom back in the 90's and all debt had to be paid before would approve loan. The mortgage doesn't show on CRA's any longer since the home was paid in full with-in the year of taking out the loan and closed.

So it comes down to a few questions.

Is there a way to find out if DW did have a balance and owed money?

If applied is DW file considered to thin for AMEX?

Are DW scores okay for AMEX criteria?

If DW applies which would be best to apply for GOLD, GREEN, or ZYNC (DW wants card for benefit of advance ticket purchases besides the normal usage of the card)?

I was under the assumption that not being offered anything from AMEX pre-qual on their site that your chances of being approved are slim to none. Under that same assumption I thought when finally offered something that it is a very good sign for approval. But making an assumption has bit me in the butt many times, so I am coming to the folks here that I have relied upon for the last several years for their advice.

Any and all information would be helpful.

Thank you

[tray]

As in my situation I tried multiple times on the AMEX pre-select site for offers and always a big fat no, then one night I happened to check again and to my shock there were two offers  one for the green and one for the gold, I app'd for the green and was approved last year, as of now I have the premier rewards gold and so far can charge over $8,000 so you can grow with this company and to add I did have a few baddies on my EX report then, if  applies and gets approved she can then once again establish a relationship with AMEX.  Good Luck

[Anonymous]

I was approved for the Delta Gold Skymiles without being offered anything. I think she has a pretty good chance just make sure her utilization is low with only one card reporting a balance of <9% of credit limit for optimal score. Keep in mind that AMEX might pull all 3 CR. Also, if she can find an old statement from her old AMEX account and backdate this card to that date it would be a great advantage and well worth the 3 pulls.

[alph4]

Those scores look Amex worthy.  Since the collection has aged and fallen off the report I wouldn't worry about that.

I believe you can always call up AmEx and ask them to check their records.  If there isn't any money owed, and the account was closed for inactivity, they should still let you open a new account.  In fact, if you are opening a new account and there is history of an old account, AmEx would backdate the account, giving it an instant 10+ year history.  If there is money owed that wasn't paid, I remember seeing other posts where essentially you can pay the balance due then apply for a new card.  I'm sure someone else can tell you more exactly about this.

Otherwise, if it comes down to Zync, Green, or Gold, then Zync is the easiest to get, and is considered the AmEx "starter" card.  However, if pre-sale tickets are what is wanted, I believe the Gold would be the card of choice.  I know Zync has a "music pack" that can be added that will get pre-sale tickets for certain venues (check here: http://www201.americanexpress.com/getthecard/meet-zync#/ )  Your DW could always try to get the Zync, then try to product change later on.  AmEx values a history with them, and once you've shown them you're reliable, they will trust you more.

Good luck!

[Anonymous]

Having it backdated while would be helpful to DW it isn't a concern especially since trying to find something from back then might seem to be impossible since we have moved several times since then. 

Thank you for reminding me about the UTIL as I edited the post to show what is reporting.

[Anonymous]

alpha 

Thank you for the idea of just calling them up and seeing if they can check their records.

I also assume DW scores are good enough, my concern is more would it be a thin file? Both CC's are more then 24 months worth of history, just unsure how they would look at her profile.

[Anonymous]

Is her statement balance 0 or the outstanding balance? In other words, did she PIF the card before the statement posted? Because that is what is reported to the credit bureaus.

EDIT: Sorry I noticed you mentioned that this is what's reporting.

However, from what I read on this board, thin file does not seem to  be a problem with AMEX.

[Anonymous]

DW statement balance on last statement showed $10 on BOA which has been paid. Currently would show 0 on next statement between the 5th and 8th of month is when it is printed, DW alternates months to show a small balance ($25 or less) on 1 of her CC's.

[alph4]

While it may be a bit of a thin file, two reporting cards and an auto loan should be enough I would think.  Try discussing it with AmEx directly.  I've found if you call they are incredibly helpful and will even chit-chat a bit with you.  Tell them the situation and they could probably at least give you a good estimate of whether or not the app would be approved.  But it seems from the info you've given it's at least a contender for the Zync card.

I got approved for a Blue Cash while still in college. It was my first actual card. Until then, the only other thing I had reporting to my CRs was an AU on my father's AmEx.  Of course, the AU being from AmEx itself and this being before the financial meltdown might have been factors.  But thin credit files have been approved. 

[larinoriani]

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@Anonymous wrote:

DW statement balance on last statement showed $10 on BOA which has been paid. Currently would show 0 on next statement between the 5th and 8th of month is when it is printed, DW alternates months to show a small balance ($25 or less) on 1 of her CC's.

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Well, at this point the next thing to do is give it a try,go online and let us know!. Shoot at the Zinc, more than likely, DW will get it!