Do I Qualify for Entry Level Amex

[buildingcreditfromnothing]

Hi all,

Wanted to get some advice if I should pull the trigger and apply for the PRG and/or Delta Gold.

I have a short credit history, but have 2 auto loans. AAOA is 6 years due to an AU account with BofA.

EQ Fico is 709 and EX is also 709.

One auto loan was 30 days late 4 times (bank didn't go through with AutoPay that I requested). The lates were removed from EQ but are still showing on EX.

Other auto loan was 30 days late 2 times (forgot to pay it).

Just got a few cards to build my history. All are brand new. They are:

Macys Red Card: $400 CL

Credit One Visa: $400 CL (likely going to be closed immediately)

Bank of America Secured: $300 CL

I have a few AU accounts reporting that my friend added me to. They are:

Nordstrom

Citi

Walmart

Brooks Brothers

Should I apply for AmEx or keep building?

[-Wade-]

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@buildingcreditfromnothing wrote:

Hi all,

Wanted to get some advice if I should pull the trigger and apply for the PRG and/or Delta Gold.

I have a short credit history, but have 2 auto loans. AAOA is 6 years due to an AU account with BofA.

EQ Fico is 709 and EX is also 709.

One auto loan was 30 days late 4 times (bank didn't go through with AutoPay that I requested). The lates were removed from EQ but are still showing on EX.

Other auto loan was 30 days late 2 times (forgot to pay it).

Just got a few cards to build my history. All are brand new. They are:

Macys Red Card: $400 CL

Credit One Visa: $400 CL (likely going to be closed immediately)

Bank of America Secured: $300 CL

I have a few AU accounts reporting that my friend added me to. They are:

Nordstrom

Citi

Walmart

Brooks Brothers

Should I apply for AmEx or keep building?

---

To start with Amex always pulls Experian. Not being mean or nothing with the Cl's you have i would not apply ! i would let the accounts you have age and bulid history also i would not app for at lease a year. You also need to see if you can get some SP's CLI on the cards you do have. Sorry but just being honest

[-Wade-]

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@buildingcreditfromnothing wrote:

Hi all,

Wanted to get some advice if I should pull the trigger and apply for the PRG and/or Delta Gold.

I have a short credit history, but have 2 auto loans. AAOA is 6 years due to an AU account with BofA.

EQ Fico is 709 and EX is also 709.

One auto loan was 30 days late 4 times (bank didn't go through with AutoPay that I requested). The lates were removed from EQ but are still showing on EX.

Other auto loan was 30 days late 2 times (forgot to pay it).

Just got a few cards to build my history. All are brand new. They are:

Macys Red Card: $400 CL

Credit One Visa: $400 CL (likely going to be closed immediately)

Bank of America Secured: $300 CL

I have a few AU accounts reporting that my friend added me to. They are:

Nordstrom

Citi

Walmart

Brooks Brothers

Should I apply for AmEx or keep building?

---

Also welcome to myFico forums

[SorenX]

Maybe this is helpful:

I was recently approved for an Amex BCE with a score of 655. Granted, it was with a low limit and high interest rate, but I was approved and your scores are better than mine. Not sure what the impact will be of your late payments etc but purely from a score standpoint I'd say at least apply. It seems to me that a lot of people around here are too afraid of HPs. Some poster said the other day, "What's the point of having dice if you never throw them?" or something to that effect. He's right.

[-Wade-]

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@SorenX wrote:

Maybe this is helpful:

I was recently approved for an Amex BCE with a score of 655. Granted, it was with a low limit and high interest rate, but I was approved and your scores are better than mine. Not sure what the impact will be of your late payments etc but purely from a score standpoint I'd say at least apply. It seems to me that a lot of people around here are too afraid of HPs. Some poster said the other day, "What's the point of having dice if you never throw them?" or something to that effect. He's right.

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No one is afraid of HP's we do it beacuse we want higher CL's and lower APR's. just my 2 cents

[buildingcreditfromnothing]

Hi Everyone,

Thanks for the replies! Just was wondering if Amex counts AU accounts as personal credit history? I have about 6 positive AU accounts on EX that could help my chances. Thanks again! 

[-Wade-]

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@buildingcreditfromnothing wrote:

Hi Everyone,

Thanks for the replies! Just was wondering if Amex counts AU accounts as personal credit history? I have about 6 positive AU accounts on EX that could help my chances. Thanks again! 

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I don't have any AU's . Sorry i can't help you on that one

[SorenX]

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@Wade64 wrote:

No one is afraid of HP's we do it beacuse we want higher CL's and lower APR's. just my 2 cents

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Yeah, but it's that old conundrum:  Can't get approved if you don't apply, but you don't apply because you are worried about the HP.  (Not using "you" in the personal sense here!)

I'm not saying that there aren't legitimate reasons to worry about an HP, but at the same time, I've seen too many timid people on here who are afraid to go for what they want because their score might drop 8 points. Fact of the matter is that if you don't go for it, you WON'T get it. That's a guarantee.

[-Wade-]

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@SorenX wrote:

---

@Wade64 wrote:

No one is afraid of HP's we do it beacuse we want higher CL's and lower APR's. just my 2 cents

---

Yeah, but it's that old conundrum:  Can't get approved if you don't apply, but you don't apply because you are worried about the HP.  (Not using "you" in the personal sense here!)

I'm not saying that there aren't legitimate reasons to worry about an HP, but at the same time, I've seen too many timid people on here who are afraid to for what they want because their score might drop 8 points. Fact of the matter is that if you don't go for it, you WON'T get it. That's a guarantee.

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but who wants a toy limit?

[stillirise]

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@buildingcreditfromnothing wrote:

Hi all,

Wanted to get some advice if I should pull the trigger and apply for the PRG and/or Delta Gold.

I have a short credit history, but have 2 auto loans. AAOA is 6 years due to an AU account with BofA.

EQ Fico is 709 and EX is also 709.

One auto loan was 30 days late 4 times (bank didn't go through with AutoPay that I requested). The lates were removed from EQ but are still showing on EX.

Other auto loan was 30 days late 2 times (forgot to pay it).

Just got a few cards to build my history. All are brand new. They are:

Macys Red Card: $400 CL

Credit One Visa: $400 CL (likely going to be closed immediately)

Bank of America Secured: $300 CL

I have a few AU accounts reporting that my friend added me to. They are:

Nordstrom

Citi

Walmart

Brooks Brothers

Should I apply for AmEx or keep building?

---

I just applied for AMEX and was approved a few days ago. Your scores are better then mine IMHO. I think they take a hard look at income. If you are approved dont close any accts I am fairly new at this but I think the key is high available limits with very low utilization.

Good luck to you!