Good luck if you apply.
@creditguy86 wrote:So i've recently had luck with my mini app spree. In another 2 years or so I want to try for AMEX. What do they like to see? Low inquiries? Low balances?
What do they not like?
The most consistent message I've seen on My Fico about AMEX is that they are a lender who has a long memory if you have burned them in a bankruptcy or collection. In some cases, we've seen members getting denied well into double-digit years after that with AMEX.
In other respects, I don't think they are that different from most other lenders, as long as your expectations are in order with the reality of what your profile brings to the table. If you have a few other aged credit cards, have demonstrated using them responsibly over time, have utilization in check, have no or well-aged derogatories, and haven't been applying for excessive credit (more than a couple of accounts a year,) approvals are likely.
On the lower end, approvals are more likely for cobranded cards like Delta or Hilton. If you scores are in the 600's, this may be where you need to start. The charge cards (Green-Gold-Platinum) are next up the difficulty ladder. They are most selective on their core revolvers like Cash Magnet, Blue Cash Everyday/Preferred, etc. If your scores are around 700+, you may have a good shot at starting with the core revolvers or any of the other cards. Usually we've recommended members with sub-600 scores to wait to apply with them.
Once you're in the door, keep doing more of the same. They do keep close tabs (frequent soft pulls) on your credit profile, so opening a bunch of new accounts, running up high utilization, and any derogatories will be quickly noticed. And of course, like any lender, they want to use you use their cards regularly and responsibly. Over time, they often give higher limits and approve new cards as you build history as a customer. It's not usual for additional cards after the first one to be soft-pull approvals.
They aren't like Chase, Bank of America, or US Bank in having a certain number of new accounts that put you over the approval limit but at the same time, they don't like to see excessive credit-seeking. Exactly where they draw the line seems to vary a little based on overall profile. So, there's one other common thread on My Fico about AMEX. Even though they don't have rules like Chase's 5/24, they especially don't like abuse of their sign-up bonuses. They even have a special 'team' (the "RAT" or Rewards Abuse Team) that focuses on rewards abuses. They are known for "clawing back" rewards if someone closes a card too quickly after opening it, or they might restrict you from future sign-up bonuses. To stay in their good graces, it's suggested to always keep a card open with them for a minimum of 12 months (at least until the second AF posts) before you even think of canceling. Again, as long as you're acting like a responsible mainstream customer and have honorably intentions, this probably won't be an issue.
@Anonymous wrote:
@rgd51 wrote:Do you enjoy the cash magnet? Is it a good card? How does it compare to other 1.5% cards?
It's ok. It's not my favorite card but I like that I can set AU spending limits on it so I gave one to each of my roommates to help them build their own credit. The real valuable cash back cards with AMEX are the BCE and BCP honestly. I tend to think that the QS and NFCU cashRewards are the better 1.5% cards and with plenty of 2% options around, it's hard to recommend the Cash Magnet.
Since i dont spend alot nor can i as i try to lower debt, the CM is actually my favorite Amex card, perty too
. Unfortunately it sucks having a $25 limit to redeem. I guess if it was my only card not too big of a problem but again, statement credit isnt my favorite way to redeem. As happy as i am to have my Amex back after bk, since im not a traveller, MR guy or heavy spender, its actually a lender i could do without , but wont lol. Options are always good 
@BenTramer1978 wrote:I was prequalified and recieved a Blue Cash everyday with 1000 limit and a 150 bonus with an experian score of 664.
Thanks for that data point, @BenTramer1978. Yes, I was speaking in generalities about score relationship to card approvals just to give OP a general idea of expectations. Actual approvals may vary based on overall profile and FICO scores are only one component of what goes into an approval. A $1K approval with AMEX normally means you barely qualified, so it's true that upper 600's (depending on overall profile) may get a core revolver but My Fico data points have usually shown that its safer to get scores up closer to 700+ before trying for those. As always with card approvals, YMMV.
Congrats on your SUB and Blue Cash Everyday card, though! You're in the door with AMEX and with time usage, that card may grow nicely.
@Aim_High wrote:
@BenTramer1978 wrote:I was prequalified and recieved a Blue Cash everyday with 1000 limit and a 150 bonus with an experian score of 664.
Thanks for that data point, @BenTramer1978. Yes, I was speaking in generalities about score relationship to card approvals just to give OP a general idea of expectations. Actual approvals may vary based on overall profile and FICO scores are only one component of what goes into an approval. A $1K approval with AMEX normally means you barely qualified, so it's true that upper 600's (depending on overall profile) may get a core revolver but My Fico data points have usually shown that its safer to get scores up closer to 700+ before trying for those. As always with card approvals, YMMV.
Congrats on your SUB and Blue Cash Everyday card, though! You're in the door with AMEX and with time usage, that card may grow nicely.
Thanks. That was almost 5 months ago. My experian score is now 777 and completely clean so at the 6 month mark im going to go for the 3x cli. Had to wait for a string of late house payments and a repoed car to fall off 
@BenTramer1978 wrote:
@Aim_High wrote:
@BenTramer1978 wrote:I was prequalified and recieved a Blue Cash everyday with 1000 limit and a 150 bonus with an experian score of 664.
Thanks for that data point, @BenTramer1978. Yes, I was speaking in generalities about score relationship to card approvals just to give OP a general idea of expectations. Actual approvals may vary based on overall profile and FICO scores are only one component of what goes into an approval. A $1K approval with AMEX normally means you barely qualified, so it's true that upper 600's (depending on overall profile) may get a core revolver but My Fico data points have usually shown that its safer to get scores up closer to 700+ before trying for those. As always with card approvals, YMMV.
Congrats on your SUB and Blue Cash Everyday card, though! You're in the door with AMEX and with time usage, that card may grow nicely.
Thanks. That was almost 5 months ago. My experian score is now 777 and completely clean so at the 6 month mark im going to go for the 3x cli. Had to wait for a string of late house payments and a repoed car to fall off
Very nice progress for only five months, @BenTramer1978.
664>>777 is awesome! 
In credit, as long as we're willing and able to clean house, time heals those old wounds.
Best wishes with the 3x CLI.