Amex Platinum Help

[nickcredit]

I need to get educated on Amex.

Me....

Scores: EQ 724 and TU 705

*I have late payment history on 3 accounts back in 2007 (this is what is effecting my scores)

I have zero debt.

I have reasonably high income. (Over $200k a yr)

I use an FIA credit card like a charge card for points. Charging between $3k and $7k a month.

I have a side business, a brand new LLC.

I'd like to get the best Amex card possible. Platinum if possible, Gold would be my second choice based on the perks / points. 

Are my chances best to apply for Platinum personally or should I try for a business platinum? If I apply through the busienss I wonder if I'll get it because the business has no history, just a tax ID. I WANT the card to help my personal credit score and I am not clear if I go the business Amex route that a charge card will help my personal credit.

What are my chances of being approved for an Amex Platinum? Gold? Any Amex?

THANKS!

[Red1Blue]

Gold is easier to get approved and you can ask for Platinum upgrade after 13 months. Probably their Zync card is most easier to get than other cards. Amex has their own scoring system and it is hard to predict. You can apply for platinum and if it is declined you can do a recon for Gold or Zync. Or play the conservative role and apply for the Zync and if it is approved you can ask for product change after 13 months or even apply for another card after few months. Either way, unless you apply it is hard to know if you are approved or not.

[sandsanta]

Go to the Amex page and see which cards you'd be pre-approved for.  You might not get instant approval for Platinum, but with your income I'm pretty sure you'll be in the clear.

[nickcredit]

I have not been pre-approved for any Amex. 

[bichonmom]

Zync is known as one of the easier Amex cards to get. Amex mostly pulls EX, though there are exceptions.

As long as your util is low, it seems like you would stand a pretty good chance. I'd be sure your EX report is clean since that's the one they're most likely to pull. Even though you can't see your scores, at least be sure there's nothing surprising on it before you app.

Besides Zync, if you're deciding between Gold and Plat, I'd think that the Gold would have lower requirements for approval, so that's your best shot.

[aftermath]

Both Personal and Business cards from Amex check your personal credit report.  So it's up to you which one you want.

[Walt_K]

If you apply for the business cards, they will not help your personal credit.  They won't appear on your report.

As for the personal cards, there is a lot of anecdotal evidence that the criteria for approval for green, gold, and platinum are the same.  If you want Platinum, I'd just apply for Platinum (although purely as an MR points earning card, the PR Gold card is much better).  As for your chances of approval, I'd say pretty good.  I was approved for the PR Gold card in October 2010 with an EQ FICO of around ~645 (can't remember exactly).  While I did not know it at the time, my EX FICO is about 50 points higher than EQ.  I had late payments on my report that were less than two years old at the time.  I have similar income. 

[Anonymous]

---

@nickcredit wrote:

I have not been pre-approved for any Amex. 

---

You've checked the Amex preselector site? https://www201.americanexpress.com/secure/my-special-offers?btct=AMEX_APPLY_Main_SJ_N1_Bucket_ultima... 

click not a card member yet.

That said, if you want Plat, I would say you're within target. I say go for it. also remember apps submitted within 24 hours are still only one hard pull. So, if you app for Plat and get denied, try for the PR Gold. With everything you've said I wouldnt imagine you'd get denied. But stranger things have happened lol.

[nickcredit]

Tried the link. Not preapproved. 

Being able to apply several times in a 24 hr period is HUGELY VALUABLE information. THANK YOU.

[Walt_K]

---

@nickcredit wrote:

Tried the link. Not preapproved. 

Being able to apply several times in a 24 hr period is HUGELY VALUABLE information. THANK YOU.

---

I'm not sure, but I think if you are denied on your first app, the next app will be canceled and you have to wait some amount of time before you can apply again.  If you are approved for the first app, you can app for other cards, and if the apps are done online and in the same day, they will count as one pull.