Amex, internal scoring, and APR setting

youngandcreditwrthy · ‎06-07-2013

I'm curious about how Amex uses their internal score and outside FICO score(s).
My recental approval for Amex Gold Delta Skymiles yielded the "best" APR of 15.24%, while it could have been 17.24% or even 19.24%!!!!!
My EXP can't be more than 700-720, and I've never gotten the best APR when applying, ever. LOL Freedom had 22.99% after intro, Diamond Preferred 21.99% and even BCE at 22.24%.
I plan to get those lowered obviously and pif all 0% offers beforehand.

Anyway, anyone think maybe Amex uses their Internal Score to set APRs also?
Does anyone know the elusive rating scale of the Amex Internal Score?!?
I've only received FICOs from them.

Bah, this Amex is an all powerful credit God! Haha
😳😄😏👍👍

myjourney · ‎06-07-2013

@youngandcreditwrthy wrote:
I'm curious about how Amex uses their internal score and outside FICO score(s).
My recental approval for Amex Gold Delta Skymiles yielded the "best" APR of 15.24%, while it could have been 17.24% or even 19.24%!!!!!
My EXP can't be more than 700-720, and I've never gotten the best APR when applying, ever. LOL Freedom had 22.99% after intro, Diamond Preferred 21.99% and even BCE at 22.24%.
I plan to get those lowered obviously and pif all 0% offers beforehand.

Anyway, anyone think maybe Amex uses their Internal Score to set APRs also?
Does anyone know the elusive rating scale of the Amex Internal Score?!?
I've only received FICOs from them.

Bah, this Amex is an all powerful credit God! Haha
😳😄😏👍👍

Wish I knew young but you're dead on about the powerful credit god with it's own criteria

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

navigatethis12 · ‎06-07-2013

Scores are not what determine annual percentage rates. I have high schores and after just looking at my acccounts, have only gotten the lowest rate on one Citi credit card. My little brother has slightly lower scores and received the lowest rate and was instantly approved for two Citi cards. My rates are mostly in it the 19-22 area. The lowest I have is 10.24 on Chase Ink, but it doesn't come with any other rate.

I don't know any lender that actually gives out their internal score. They may give you a score when you first apply, but they also have one or two different scores they use to determine changes to accounts. Macy's, Citi, PNC, Barclays, and Chase are some that have internal scoring models that they do not release to customers.

LS2982 · ‎06-07-2013

@youngandcreditwrthy wrote:
I'm curious about how Amex uses their internal score and outside FICO score(s).
My recental approval for Amex Gold Delta Skymiles yielded the "best" APR of 15.24%, while it could have been 17.24% or even 19.24%!!!!!
My EXP can't be more than 700-720, and I've never gotten the best APR when applying, ever. LOL Freedom had 22.99% after intro, Diamond Preferred 21.99% and even BCE at 22.24%.
I plan to get those lowered obviously and pif all 0% offers beforehand.

Anyway, anyone think maybe Amex uses their Internal Score to set APRs also?
Does anyone know the elusive rating scale of the Amex Internal Score?!?
I've only received FICOs from them.

Bah, this Amex is an all powerful credit God! Haha
😳😄😏👍👍

IMO I think they heavily rely on your internal score for credit decisions.

EQ FICO 548 3/3/16

RSCo · ‎06-07-2013

@youngandcreditwrthy wrote:
I'm curious about how Amex uses their internal score and outside FICO score(s).
My recental approval for Amex Gold Delta Skymiles yielded the "best" APR of 15.24%, while it could have been 17.24% or even 19.24%!!!!!
My EXP can't be more than 700-720, and I've never gotten the best APR when applying, ever. LOL Freedom had 22.99% after intro, Diamond Preferred 21.99% and even BCE at 22.24%.
I plan to get those lowered obviously and pif all 0% offers beforehand.

Anyway, anyone think maybe Amex uses their Internal Score to set APRs also?
Does anyone know the elusive rating scale of the Amex Internal Score?!?
I've only received FICOs from them.

Bah, this Amex is an all powerful credit God! Haha
😳😄😏👍👍

Hmmm.. here are mine.

17.25 Delta SkyMiles (you've got me beat - booooooo! )

15.25 TrueEarnings

$30,500

$18,500

NPSL

$15,000

$10,000

$25,000

$32,000

RSCo · ‎06-07-2013

I get my very best rate from my credit union, NWFCU - 13%

$30,500

$18,500

NPSL

$15,000

$10,000

$25,000

$32,000

GaTech · ‎06-07-2013

I apped for the Blue card and received 15.45% (the lowest, the others when from 17.45% and 20.45%).

Then I PCed to BCE and they kept the rate (I think the lowest rate available for BCE is 12.99%).

As of 1/10/2014 EX FICO - 748. EQ FICO - 728. Trans FICO - 755

WellsFargo - $3,000 AMEX BCE - $18,000 Chase Freedom - $4,000

BearsAndTurtlesRtheBest · ‎06-07-2013

Thats lame my sister applied for AMEX PRG and Green 1 month ago and was turned down with a EX FICO Score of 705 1 yr credit history, and highest CL being at $3000, Oh well will retry in 5 more months, Congrats on getting their best APR,

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019

youngandcreditwrthy · ‎06-07-2013

On average, I've paid about 50% of my balance w Amex.
I guess that is what their internal scores like since my credit w/them is near max total exposure I think.($30k)
I'm really into this risk scoring model stuff. Every bank is so different.
It's quite odd, but I feel as though the CARD Act has fallen short since so many banks use their own undisclosed risk/score models anyway 😔

youngandcreditwrthy · ‎06-07-2013

Btw bearsandturtles, my EXP Fico is prob about the same as your sister's, but I have a vastly diff credit profile. That's weird haha