Should I try for Amex ...?

[Andy77]

So, my bk is now 7 years old and I read here some members got approved for an Amex when their bk ch 7 was 5 years old.

I tried in Sept 2015 and declined for my bk (only reason for the denial and I had a lot of debt then)

When I apply again, my CR would have changed a lot :

Scores 710, 714, 705

Ing 20 (5 in 2016)

bk tradeline is only derog

70k in avail credit 25k in debt (spread over two cards : 12,500 on a card with a 20k limit and 12,500 on a card with a 32k limit)

25k in debt (spread over two cards : 12,500 on a card with a 20k limit and 12,500 on a card with a 32k limit)

income 275k

I did not burn Amex in my bk.

What do you think my chances would be for the Starwood Preferred Guest ?

[RonM21]

Your chances may be okay. Have you tried the pre qual site yet?

[CountryLivin]

Try the prequal site, but when I applied, I was denied for the number of inquiries.

[takeshi74]

---

@Andy77 wrote:

What do you think my chances would be for the Starwood Preferred Guest ? 

---

No idea as we're not AmEX underwriters.  However, not as good as they would be with lower revolving utiliation.  Keep in mind that the generally suggested maximum is 30%.  30% is not ideal.  It is a suggested max.  You're at 36% overall with one card at 63% and another at 39%.

[Andy77]

Copy that.  I will wait then until I get my utilization down.

Thank you!

[Anonymous]

Amex won't consider bankruptcy that's under 5 years. So your good on that. They are inquiry and utilization sensitive. As far as derogatory they seem forgiving because I applied yesterday and was approved for $1,000 good luck

[Andy77]

Peanut...I think the bk tradeline & it being over 5 yrs old is a case by case basis.  I applied sept 2015 when my bk was 6 yrs old and no dice...

Congrats though...thats fab!!!!!!!

[creditguy]

---

@Anonymous wrote:
Amex won't consider bankruptcy that's under 5 years. So your good on that. They are inquiry and utilization sensitive. As far as derogatory they seem forgiving because I applied yesterday and was approved for $1,000 good luck

---

Amex is definitely utilization sensitive but they are not all that inquiry sensitive, Seems they have eased up on that lately, I read an approval yesterday where the OP had 82 inquiries, so I think as long as your overall profile is good, inquiries take a back seat. Congrats on your approval by the way. 

[aussiesareforever]

I was denied when my BK was 7. I had no other derogs and zero inquires. I had about 6 other credit cards, all with perfect payment record and my utility is usually around 3%. The only reason for denial was BK. Was approved the next year when my BK was 8.

[B335is]

---

@Anonymous wrote:
Amex won't consider bankruptcy that's under 5 years. So your good on that. They are inquiry and utilization sensitive. As far as derogatory they seem forgiving because I applied yesterday and was approved for $1,000 good luck

---

Amex really isn't all that inquiry sensitive. If they see something like a negative they use inquiries plus the negative as a basis for denial. So in OP case it was the BK that Amex really didn't like.