@Shopaholic824 wrote:
New to myFico but thought I'd get some input before getting hit with an inquiry from AmEx
I've been looking to get an AmEx for quite some time now but reading reviews has set me back for months. A friend however got recently approved with a 650 TU score for a 2K CL. My TU is currently at 660, with no deliquencies, 2 inquiries, an avg credit history of 1 yr & 8months, and $45k yearly income.
Also carry 5 other CC's
Best Buy: 0/$400
Nordstrom: 1400/$1500
Chase Slate: 500/$600
Chase Freedom: 0/$800
Capital One Journey: 1400/$1500
I also have a student loan for $2400 but don't know if they take that into consideration.
I do carry a balance on 3 of 5 cards but will that impact my odds of approval by much?
I decided to opt for the skymiles since I do fly about 4 times a year (and heard it's the easiest to get approved for) but don't know if any other AmEx cards would have easier approval odds.
What does your EX Fico and report look like? I believe AmEx pulls EX the majority of the time. If your EX is around the 660+, with low inquiries, relatively low overall utilization, and no derogs, I think you have a good chance, too. The Delta Gold was actually the first AmEx I was approved for (with an EX Fico in the low 660's and with a few paid baddies on my report).
Anecdotally, the Delta Gold is one of the easier (if not the easiest) AmEx revolvers to qualify for. I applied for it myself just to get my foot in the door (through the Delta website vs. directly on the AmEx website) and was instantly approved. And, although it was only for a $1k CL, I was ecstatic to finally be a part of the AmEx family. Immediately afterwards, I tried for a charge card (through the AmEx website) and was declined.....which was a bit ironic since I'd heard that their charge cards were easier to get than their revolvers. Apparently, for me, that wasn't the case. Good thing is that since then, I have been able to PC the Delta to a Blue card as well as attain 3 other AmEx cards.
Anyway, IMO, if your EX credit profile is the same as or similar to what you stated in your original post, you probably do have a good shot at the Delta Gold. But for an even better shot (especially if you'd like a higher starting CL for your travel purposes), I would try to pay down the 3 accounts you're carrying balances on first (to less than 30% utilization on each but ideally to where only 1 of those accounts are reporting a balance <10%). This in itself will greatly improve your credit scores plus your chances for approval and probably a much better initial CL (after those lower balances report). Unfortunately right now, those 3 accounts are more than likely impacting your score with "maxed-out" statuses.
Good luck to you......hope you get your first AmEx soon!!!
AmEx PRG (NPSL) | AmEx BCP (10k) | AmEx Blue Cash (1k) | AmEx SPG (3.5k) | Barclay Arrival WMC (7.5k) | Barclay Sallie Mae (1.5k) | Cap1 QS (2k) | Chase Freedom (1k) | Discover IT (4.5k) | InTouch (Local) CU MC (5k) | InTouch (Local) CU LOC (25k)
Citi/Best Buy (AU) (1.5k) | Citi/Best Buy (7.5k) | Comenity/Crate & Barrel (4k) | Comenity/Restoration Hardware (9k) | GE/Ethan Allen (2.5k) | Synchrony Bank/Banana Republic (3.3k) | Synchrony Bank/Gap (3.3k) | Synchrony Bank/Walmart (3.3k)
myFICO scores ~ 691 (EQ) 670 (EX) 712 (TU) || Goal scores: 750+ (all 3)
$600 
$6500 
$30k 
16k 
12k VSiggy
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
