Will Amex approve me with high utilization???

[GLMRGIRL717]

The last baddie was removed from my Experian report yesterday so I have a 2 year history (BofA open since May '06, Orchard opened in July '06, closed in July '07, Wamu open since Nov' 06, Cap 1 open since July '07 and Express store card open since last month) of perfect payments on my report.  I really want to apply for the Jetblue Amex as well as the Delta Skymiles Amex since I will be doing a ton of travel this summer and would like to rack up on the mileage and score some free tickets.  I'm wondering if Amex will deny me due to rather high utilization on my cards.  I have a $600 limit on BofA (balance at $515), a $125 remaining balance on Orchard, a $750 limit on Wamu (balance at $525), a $1000 limit on Capital One (balance at $888) and a $350 limit on Express (balance at $165).  I'm paying $800 towards my cards at the end of the month, but I was hoping to apply before I pay since we are buying the first round of plane tickets in the next couple of weeks for our extended family trip to Orlando.  Everyone is giving me cash and I was going to buy the tickets with my debit card, but I would rather use the Amex and then pay it in full so I can get all the mileage.  What does anyone think my chances are of getting approved, or is it highly unlikely?  Thanks for the advice!!!!

[Anonymous]

Probably not, they are balance chasers tooo! What are your current credit scores?

[smallfry]

Amex is a puzzle lately. I would lean towards no but since your reports are clean you might well get a card. Not sure if it would be the one you want though. The charge cards are easier to get but that isn't your plan. Only one way to find out. Not sure but I think Amex apps done in the same day count as only one inquiry. Good luck.

[Anonymous]

If you are going to try, go for the Delta Gold Skymiles, it is notoriously the easiest to get of their revolving products.

[Anonymous]

What is your current utilization in percentage terms?  The actual balances don't help us unless we know all the CLs, too.

Amex generally declines for high util, regardless of what the report looks like.

[GLMRGIRL717]

I included the credit limits, but unfortunatly I don't know how to figure out the utilization % on them.  I just know that it's really up there!!!

Do you think I would have a better shot if I can them all down to 50% utilization or am I going to be in the same boat until I can get under 30%???

[smallfry]

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@GLMRGIRL717 wrote:

I included the credit limits, but unfortunatly I don't know how to figure out the utilization % on them. I just know that it's really up there!!!

Do you think I would have a better shot if I can them all down to 50% utilization or am I going to be in the same boat until I can get under 30%???

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Get the utilization under 10%. You don't owe that much. It appears to be like 75% utilization or so. I don't know what kind of credit limit you are looking for but you might very well get the card with a low limit. Make sure your payments are reflected in your credit reports before you apply.

[haulingthescoreup]

Good advice for applying for anything at all, not just AmEx!

You always want to be in the absolute best position before app'ing. You're going to get better rates and higher CL's if you shine yourself up first.