Amex Platinum- Apply now or Wait? (Utilization Due to Way USAA Reports Paid Off Statement Balance)

[Anonymous]

I have a 759-765 score on the three bureaus. However, I am an authorized user on one my dad's USAA cards , that he spends 6-7k a month on, but pays in full every month. However, the way USAA reports, even though he is paying in full, it's reporting the last months statment balance,  So I am constantly at a 60%+ utilization.

If necessary, he has agreed to stop using that specific card for a month, so that my utilization rate goes down.

Is it beneficial for me to ask him to do this, and wait the month for USAA to report at $0 balance, or will Amex not consider this since I'm only an AU on it?

My other concern with applying Amex, is that the only card I have currently is a Secured Amex through USAA (3 years). Are they going to pitch a fit about this lack of credit history too, regardless of my decent score and 6 figure income? (I've also had 2 loans through BMW, that I've paid off, and currently have GM Truck Loan)  I'm pretty set on the Platinum Amex, since I''ll be spending 5-10K a month on it. I intend to also apply for a Non-Charge Card card, through USAA, to avoid this problem in the future, even though I don't need to carry a balance.

[ccquest]

Since you have 3 years history on your own and make a good chunk of money, why not check the prequal site for Amex and see if it shows for you already? With that score, you're probably good already.

Just make sure the spend lines up with the Platinum better than other low/no AF cards as far as getting your rewards. The AF does have credits built in, but they might not be organic for you and shouldn't be considered imo.

[Anonymous]

I did the Prequal a few days ago, and of course it shows all of Amex's Cards except for the Charge Cards and the Delta cards. I'm fine with the AF, since the perks and point structure will far surpass it, with my anticipated spend.

I have zero hard inquiries last 24 months, so I intend to apply regardless, and recon if I have to. Just curious if the utilization rate of my Dad's card will affect me, and If I should ask him to use another for a month, then wait til it shows the 0$ balance.

[ccquest]

Of course the card you want doesn't show! I'd go ahead with your plan, but slightly modified then. There's some anti-abuse built in for AU accounts, so maybe just have him do some small spend (less than 9%) for the month and go from there. Reason for that is sometimes AU accounts will cause their own All Zero penalty to be assessed and you won't know until it happens which could put you another month back.

[Anonymous]

Got impatient and applied. Instant approval, they said it'll be in my mailbox tomorrow ;-)

[AllZero]

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@Anonymous wrote:

Got impatient and applied. Instant approval, they said it'll be in my mailbox tomorrow ;-)

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Congratulations on your approval!

[fatcomic]

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@Anonymous wrote:

Got impatient and applied. Instant approval, they said it'll be in my mailbox tomorrow ;-)

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Conratulations on the approval! 

[ccquest]

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@Anonymous wrote:

Got impatient and applied. Instant approval, they said it'll be in my mailbox tomorrow ;-)

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Congrats and that's a quick turnaround! They must take extra care of you Platinum holders , my BCE took a few days to come.

[Anonymous]

Thanks guys quite excited!

That being said, I decide to pair it with a USAA card, that I was declined for a few minutes later. They said my score was almost 100 points less. Looking at my Experian, the score they claimed I had matched the Fico 3 (689), not the Fico 8s that were mid to high 700's. So I'm assuming Amex used the Fico 8 and USAA is still using Fico 3. Oh well, guess I'll need to wait a few months. Gives me some time to find the perfect card to pair with the Platinum. Any suggestions?