How do I get my first AMEX?

[Anonymous]

Hi everyone, 

I've been working on my credit extensively over the last couple of years (I made a lot of credit mistakes in my earlier years) and have made some good progress, but I still can't seem to qualify for an AMEX. I specifically aspire to get in with AMEX since I travel a lot and exclusively with Delta, so one of the Delta co-branded cards would be perfect, but I am happy to start with whichever AMEX card can get and build up to a Delta card.

• My Experian score is 669
• I have 3 chargeoffs that have all been paid about a year ago and are reporting as such (not with AMEX)
• I have 11 open credit cards with a total combined limit of 14k, all PIF monthly and never late
• My annual income is 160k
• I have ~30 inquiries in the past year
• AAOA of 11 months

Other than slowing down on inquiries (I've stopped applying in October, so all inquiries are older than that), and just letting my existing cards age, is there anything I can do to increase my changes with AMEX -- or is there a specific card that I should apply for that would help me get in the door? I have a lot of travel coming up and would love to maximize my miles by putting those on a card that can actually provide some rewards.

Thanks!

[Anonymous]

Delta Gold seems to be the card people recommend for getting an in with Amex but are you just using the prequal site or are you applying and being denied? Your score isn’t much lower than mine was when they approved me for BCE at $1K last year. 

[Brian_Earl_Spilner]

The co-branded cards are the easiest to get requiring about a 640 EX. My profile is worse than yours and I was approved with a 641. Despite what people may say about Amex not being inquiry and new account sensitive, they are, unless you have a very high income and good history. I'm sitting at 10 inquiries and they will not approve a second card because of them. The only other thing I can think of that would keep you out is if you had a bankruptcy, at which point you have to wait 5yrs 1 mos to apply whether you included them or not.

[Anonymous]

I applied in October 2018 and got declined for the Delta Skymiles Gold card, but at the time my score was 607 due to one of my cards reporting a high balance at the time. I've since paid all of them down to $0 which brought me to the current 669.

So far I am not getting any pre-approved offers from the Amex prequal site, and I'm heisitant to add another inquiry unless I'm decently sure I'll be approved.

[Brian_Earl_Spilner]

Saeren brings up a good point. I wasn't pre-qualified, I just cold apped and was approved. The Delta card, however, has nothing to do with MR earning.

[Brian_Earl_Spilner]

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@Anonymous wrote:

I applied in October 2018 and got declined for the Delta Skymiles Gold card, but at the time my score was 607 due to one of my cards reporting a high balance at the time. I've since paid all of them down to $0 which brought me to the current 669.

So far I am not getting any pre-approved offers from the Amex prequal site, and I'm heisitant to add another inquiry unless I'm decently sure I'll be approved.

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When I applied, I had low 630s and was denied. Based on research, it appeared that the 640 was almost a hard number that you had to reach. 9 days after the decline when my balances updated and scores jumped to 641, I applied again and got instant approval.

[Anonymous]

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@Brian_Earl_Spilner wrote:

Saeren brings up a good point. I wasn't pre-qualified, I just cold apped and was approved. The Delta card, however, has nothing to do with MR earning.

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Fixed the post lol. 

[Priory_Man]

IMO, I would wait it out 8 to 12 months if you are able, let somethings age then try again.

Of course you already have a ton of inquiries, what difference would one more make at this stage, apply and see what the denial letter states, if you get denied that is.
The Delta gold is a good starting card if and when you are ready to pull the trigger.

[CreditInspired]

Hi and welcome to MyFICO

The good news is you could ask a friend or relative to add you as an AU if they have an AmX while you continue to work on your credit profile to get into a position to get your own AmX.

Now the “let’s grab the bull by the horns” news. IMHO, I think you should immediately head over to the garden forum and stay there for a minimum of 12 months so those 30 inqs will have less of an impact once they reach 1 yr.

Don’t just slow down on applying for credit. Please stop applying for credit! ~30 inquiries in the last year is a huge no-no and a red flag to lenders. They view this as desperate credit seeking behavior. There’s a saying. Banks lend money to those who don’t need it. This is where you want to be and can be with your income and patience.

Having 11 CCs with a combined total limit of $14K leads me to believe they’re mostly retail cards or a sprinkling of secured cards. If this is true, it’s not good to have more than 1-2 retail cards. If you have prime cards, this is good. Gardening will give those time to age too.

Also, it would be a good idea to have all 3 FICO scores.

GL2U

[HeavenOhio]

I'd try to wait it out until your Experian score hits at least 680. 700 would be better. With lower scores, AMEX tends to hand out $500 and $1,000 limits, and those are hard to grow.

If you can garden until October, you'll gain some points for your AoYA (age of youngest account) becoming a year old. Also, while a lot of inquiries will still be present on your report, all or most will have become unscorable.

You don't mention utilization, but that might be another area where you could grab some points.