Likelihood of AmEx Platinum (stats included) [Update: Approved]

[SoCalTransplant]

I've been a sideliner here on the forums and used lots of the tips and tricks to boost my score lately with a few financial goals coming up (home purchase, travel, etc).   I'm looking at the AmEx Platinum card mostly for the travel benefits this year (not traveling for work anymore, so have to pay for those lounges!) but also for a few of the other perks.   What is the likelihood of an approval with my status below?  (I don't really want to apply unless there's a strong chance for approval as I'd like to not risk the hit.)    

Current SitRep:

AmEx Business Platinum: $3900 limit / $0 balance (just increased in late Feb)

Chase Visa: $2200 limit / always below a $110 balance when closing date to maintain >5% CLU

BoA Visa: $4500 limit / $0 balance 

Local Bank Visa: $1500 limit / $0 balance (13 years active, so keeping it open despite low limit and $19 AF)

EX Score: 702.  Some neg 30 days from 2008 that I'm trying to get taken off with a goodwill letter

Just paid off my auto loan last month 2 years ahead of payoff on 4 yr loan. I have a signifiant # of student loans, however, my DTI is 30.68%.  

Any thoughts on the chances or other things I might be able to do to help.    Thanks for all the input and guidance!

[andre181]

You'll most likely be approved. 

[Anonymous]

You're a shoe-in...

[Anonymous]

You will get it for sure. I just got it last week and i had a zync with 500 limit. Used it for 13 months and they approved me

Trust me, i doubt they really care a whole lot. It's not an exclusive card, throw ur $450 on them and anyone can walk away with platinum.

[thom02099]

Agree with the others, strong probability of approval.  Charge cards, if I recall right, all have the same underwriting criteria, regardless if Platinum or Green. 

If you have a concern about it, since you're already an AMEX cardholder, you could just call their customer service and ask the same question, the chances of approval based on your current history with them.  That way too, they could assure you if a SP or HP. 

[SoCalTransplant]

Thanks for all the quick responses!     I'll give them a ring and hopefully, it can be a SP since I saw on my EX report they just did a SP last month for the CLI on the business card.      

I'm really viewing the AF as a wash as to if I bought a lounge access, but it has a lot more benefits too!    Should correct my earlier note, it's a EQ score of 702, not EX.  Not sure the score there yet.

[winner88]

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@SoCalTransplant wrote:

Current SitRep:

AmEx Business Platinum: $3900 limit / $0 balance (just increased in late Feb)

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Do you mean the simply cash Open credit card?

Otherwise if this is an actual AmEx business Platinum then why do you need a personal one?

[SoCalTransplant]

Believe that's correct; SimplyCash Business.  It's this thing (I've tried using it for a lounge access before and no dice):  

 

[winner88]

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@SoCalTransplant wrote:

Believe that's correct; SimplyCash Business.  It's this thing (I've tried using it for a lounge access before and no dice):  

 

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Ohh ok .. Yes that is the Simple cash Open credit Card .. the approval standard for that is higher than the charge cards (including the platinum) so you should be good.

[Creditaddict]

Add on question is you say you went to $3900, what was your limit before that?  Was that your 3x CLI or was that the counter, or what you asked for that wasn't 3x?

Should be good for the Platinum also.