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How is it that I see so many great approvals from American Express and others with 600 credit scores

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New Contributor

How is it that I see so many great approvals from American Express and others with 600 credit scores

 
Message 1 of 38
37 REPLIES 37
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Established Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

I think every lender has a certain threshold in terms of scores when combined with other factors, such as credit age, income, payment history with their other TL's. FICO is just one of the components that are reviewed by a lender whenever they extend credit. Not all profiles are the same, which means not everyone with a 700 score will get approved for an AMEX card, the scoring system for FICO is just a representation of one's credit habits (good and bad). Honestly, I've yet to see anyone within the 600 bracket to get approved for their main revolvers. But It is possible to get in with AMEX through their co branded cards and sometimes charge cards, when those other factors are considered along with one's credit score.

Fico Scores as of March 2020 TU (739) EX (748) EQ (776)



Message 2 of 38
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Community Leader
Senior Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

Actual FICO scores are just part of what the creditors use to determine whether to issue credit on not. It is also what is on your profile,  the age , accounts you have , your payment history.  There are so many factors, with Amex they sometimes approve at the mid 600 level , but your score is just a "part" of it.

EXP 758 TU 783 EQ 729
Message 3 of 38
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Valued Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

There is more difference between

601 and 699

than

701 and 799

and maybe even

501 and 599

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2020.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship & Syncrony






Message 4 of 38
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Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

AMEX wants more of that annual fee money.

Discover It - 19.1K
Citi Double Cash - 16K
AMEX BCP - 35K
Elan Financial - 24.2K
Uber - 25K
Amazon Prime Visa Sig - 9.6K
Fort Knox Platinum - 2.5K
US Bank Cash+ - 14K
Citi AAdvantage PSWE - 21.5K
Message 5 of 38
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Community Leader
Senior Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

@clark_d_shark:

Two cobranded revolvers approves at 638 EX (Delta Gold, Hilton no-AF) 11/15/2018
Third cobranded revolver at 641 EX (Surpass) 3/3/2019

I’m pretty sure running those properly plus my 13 year credit history at that point allowed me to get BCP and Gold charge on 5/23 and 5/27 respectively this year. 658 EX at that point. I had across the board preapprovals at that point.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





TCL $64,850 | Agg. Util under 5%
Message 6 of 38
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Community Leader
Mega Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

$$$$😎🤷‍♂️🍎🍏😆
Message 7 of 38
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New Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

What do those symbols mean?
Message 8 of 38
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Frequent Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

Amex has a proprietary score they use sometimes for approvals also fico 02?04 and 05 can be over 100 points higher than fico 08 .thats why i got 16k from bbt .
08 ficos 9/2019 eq 685 tu 704 ex 677
Message 9 of 38
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Community Leader
Super Contributor

Re: How is it that I see so many great approvals from American Express and others with 600 credit sc

Because your score isn't everything, as I've proven with some of my approvals. Lol. 

 

Also, don't mind @AverageJoesCredit, he's special. Bless his heart.







Message 10 of 38
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