Delta Gold AMEX--Approval Odds?

[Anonymous]

Hello all, I am new to MyFICO. I am a frequent traveller and have recently started solely using Delta (I live in a hub). It seems like it will take me ages to get to medallion status on my own, so I would like to get the Delta Sky Miles AMEX. I am worried about applying though without knowing my odds. Could you take a look at my info and give me a rough idea of my odds?

650 Transunion, 655 Equifax (I think it is low because of utilization and lack of credit history)

Utilization: 40% (I am working to get this lowered!)

0 Derogatry marks

15 total accounts (most of those are student loans)

100% payment history (I pay double payments each month)

4 Years Credit HIstory

6 Hard Pulls

$37K in student loans

$1,400 in credit cards

No other debts

I make $40k a year

I do not want to get a hard pull and have no AMEX to show for it! 

Thank you

[Anonymous]

I was approved 2 weeks ago with worse stats than you have, I'd say go for it. 

[Anonymous]

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@Anonymous wrote:

Hello all, I am new to MyFICO. I am a frequent traveller and have recently started solely using Delta (I live in a hub). It seems like it will take me ages to get to medallion status on my own, so I would like to get the Delta Sky Miles AMEX. I am worried about applying though without knowing my odds. Could you take a look at my info and give me a rough idea of my odds?

650 Transunion, 655 Equifax (I think it is low because of utilization and lack of credit history)

Utilization: 40% (I am working to get this lowered!)

0 Derogatry marks

15 total accounts (most of those are student loans)

100% payment history (I pay double payments each month)

4 Years Credit HIstory

6 Hard Pulls

$37K in student loans

$1,400 in credit cards

No other debts

I make $40k a year

I do not want to get a hard pull and have no AMEX to show for it! 

Thank you

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Welcome to MyFICO

Are you getting those scores from CreditKarma?  I ask because you don't provide your Experian score (CK does not provide one).  If so, you really should get your Experian FICO 08 score because Amex uses that solely for credit applications and the CK scores are a different model, Vantage 3.0..  From the description you give of your existing credit profile you probably will get approved but you need to get your utilization down below 30% at a minimum to maximize your chances.  Good luck if you do apply and let us know the results.

[Anonymous]

Have you tried their pre-qualification? See if anything pops up for you! Good luck!

[Anonymous]

Yes I am using credit karma. I am new to the "credit monitoring" game and CK was recommended to me. I know that it does not pull my Experian, but I have been leery of paying one of the online websites to pull it. How far apart are Experian FICOs and CK? I may invest in that so know my odds better. 

I am diligently working to get my utilization lower. I should have it to 30% in the next month. I will let you all know if I decide to apply/get approved before then.

Thank you! I am glad to be here and work hard on my credit!

[Anonymous]

Just go to the "credit pulls database" and see what type of others with similar scores to yours have had when applying for the card you are considering.

In general, whenever I see an "approval odds" type thread 9 times of 10 the person starting the thread has one of those "on the cusp" type scores that could really go either way.  In such a situation, my advice is always the same.  Don't apply now.  Wait 6 months and assuming you exhibit sound credit behavior (on time payments, utilization low, no applying for credit, etc.) your scores/profile will be improved which will increase your approval odds and approval terms.

[Anonymous]

It's kinda known around here that the Delta Gold from Amex is one of the easiest cards to be approved for! Go for it!

[Anonymous]

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@Anonymous wrote:

Yes I am using credit karma. I am new to the "credit monitoring" game and CK was recommended to me. I know that it does not pull my Experian, but I have been leery of paying one of the online websites to pull it. How far apart are Experian FICOs and CK? I may invest in that so know my odds better. 

I am diligently working to get my utilization lower. I should have it to 30% in the next month. I will let you all know if I decide to apply/get approved before then.

Thank you! I am glad to be here and work hard on my credit!

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Credit Karma and your FICO score can be very far apart. Discover actually gives you a free FICO score, even if you aren't a card member. I think they use Experian, which is also what AmEx would be pulling when you apply. It's worth a look as Karma isn't going to give you a true idea of your score. But the Delta card is known as one of the easiest to get approved for.

[Anonymous]

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@Anonymous wrote:

Yes I am using credit karma. I am new to the "credit monitoring" game and CK was recommended to me. I know that it does not pull my Experian, but I have been leery of paying one of the online websites to pull it. How far apart are Experian FICOs and CK? I may invest in that so know my odds better. 

I am diligently working to get my utilization lower. I should have it to 30% in the next month. I will let you all know if I decide to apply/get approved before then.

Thank you! I am glad to be here and work hard on my credit!

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The answer to that question is ... it's hard to say. Currently my CKs and my true FICOs are in the same ballpark. When I started rebuilding, my CK scores were inflated, anywhere between 50 to 100 points over what the true scores were. As my FICOs improved, they're closer, but still, the heart of the issue is, Credit Karma scores aren't true FICO scores ... and one more thing, the score Capital One provides cardholders each month is the same as CK scores, so they're not true FICOs

[NRB525]

I'm going to guess that you may be OK even now. With no missed payments and low CC limits, with several years history, you may get a card. It might be a $1k limit like some, I got $2k to start, but from there the CLI are predictable, and the Delta benefits are the same regardless of CL.