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Winning Amex probation...

Frequent Contributor

Winning Amex probation...

So apparently the new cards with credit steps from Amex are like probation, awesome. Advice on winning? I normally use cards hard and make multiple payments ending with PIF. I don't know that Amex will appreciate this if I'm in on "special conditions".
Have;
Chase Hyatt $8.6k
Discover IT $3k
PenFed PCR $1K
AMEX Hilton and Delta $1k each, BCE $500, PRG
Cap 1 QS $1.5k
Want; US Bank Cash+, Altitude Reserve/BoA Travel Rewards/Barclay Uber/Chase CSP (in like never)

Fico 8 scores as of;
Starting(10/1/17) EQ 598 TU 602 EX 601
2/18/18 EQ 661 TU 660 EX 658
4/18/18 EQ 700 TU 675 EX 671

AAoA > 5 years
DTI 18%
Message 1 of 29
28 REPLIES
Frequent Contributor

Re: Winning Amex probation...

My advice may be cleaning up credit report, negotiate PFDs with collection companies and find appropriate ways to get negative items removed from your reports (which can require a lot of communication between you and your creditors), or at least let negatives age or fall off. Other than that, the general ways of getting a good credit score - keep a good payment history, maintain low utilization, don't apply for too many new accounts at once, etc.

Message 2 of 29
Frequent Contributor

Re: Winning Amex probation...

I understand how scores work... I'm asking a very specific question about a specific company that has already approved me.

I can't pfd things that are already paid when they adamly refused PFD. My options are goodwill letters at this point.

Im looking specifically for insight into Amex.
Have;
Chase Hyatt $8.6k
Discover IT $3k
PenFed PCR $1K
AMEX Hilton and Delta $1k each, BCE $500, PRG
Cap 1 QS $1.5k
Want; US Bank Cash+, Altitude Reserve/BoA Travel Rewards/Barclay Uber/Chase CSP (in like never)

Fico 8 scores as of;
Starting(10/1/17) EQ 598 TU 602 EX 601
2/18/18 EQ 661 TU 660 EX 658
4/18/18 EQ 700 TU 675 EX 671

AAoA > 5 years
DTI 18%
Message 3 of 29
Valued Contributor

Re: Winning Amex probation...

Amex credit steps requires you to carry a balance ( keep it small ) and make regular monthy payments. Doing this will lead to faster initial CLI. If you do not do this, your initial CLI could be delayed by 6 months or more

 

I have no idea what reply #2 is in relation to your question

 

Good luck





3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>5/2018 CCT EX 821 TU 834 EQ 820
You are only young once, but you can be immature forever
Message 4 of 29
Frequent Contributor

Re: Winning Amex probation...

So let $25 report on statement and pay off $20? Will multiple monthly payments throw this off? If I only let $25 report the minimum payment would probably be $25 and I'd be screwed? If I only make the minimum payment it looks bad... If I hafta report high uti, it looks bad...
Have;
Chase Hyatt $8.6k
Discover IT $3k
PenFed PCR $1K
AMEX Hilton and Delta $1k each, BCE $500, PRG
Cap 1 QS $1.5k
Want; US Bank Cash+, Altitude Reserve/BoA Travel Rewards/Barclay Uber/Chase CSP (in like never)

Fico 8 scores as of;
Starting(10/1/17) EQ 598 TU 602 EX 601
2/18/18 EQ 661 TU 660 EX 658
4/18/18 EQ 700 TU 675 EX 671

AAoA > 5 years
DTI 18%
Message 5 of 29
Community Leader
Super Contributor

Re: Winning Amex probation...

Chasing750, i believe first poster to respond was just trying to give good general advice in regards perhaps to someone who is in " credit steps" which normally infers a person may have a few issues with their current credit profile.

Amex has this new credit steps program but to me its not as defined or established as say Capitol One's. Obviously leaving a balance may help get an increase after 6 months but ive also read some that still did not get one.

My personal opinion... with Amex just use it normal and pay it normal, pif works for me. In reality you want to establish a history with Amex and show you can be responsible with the limit given. As you show good usage and payments, the door will open eventually for more credit and other credit opportunities. Just a humble opinion from an average joeSmiley Wink

To obtain Credit One Kenobi status upon 0/24 is to Garden Harden!!
Message 6 of 29
Frequent Contributor

Re: Winning Amex probation...

Thanks average Joe, so don't crazy like some of us tend to do and max, rinse, repeat multiple times a month? Charge it to 250 pay it down before statement and then PIF?
Have;
Chase Hyatt $8.6k
Discover IT $3k
PenFed PCR $1K
AMEX Hilton and Delta $1k each, BCE $500, PRG
Cap 1 QS $1.5k
Want; US Bank Cash+, Altitude Reserve/BoA Travel Rewards/Barclay Uber/Chase CSP (in like never)

Fico 8 scores as of;
Starting(10/1/17) EQ 598 TU 602 EX 601
2/18/18 EQ 661 TU 660 EX 658
4/18/18 EQ 700 TU 675 EX 671

AAoA > 5 years
DTI 18%
Message 7 of 29
Community Leader
Super Contributor

Re: Winning Amex probation...

Sounds good. I mean , if you mean to have a long term relationship with them why rush it. Dont make yourself cazy thinking you gotta put 2k on a $500 limit , just i.e, to show them you need more. I think just using it and paying will do the trick.

Of course i may be wrong but just a gut feeling. I hope someone with more experience with their credit steps can chime in so you can get a jist of their experienceSmiley Happy

To obtain Credit One Kenobi status upon 0/24 is to Garden Harden!!
Message 8 of 29
Frequent Contributor

Re: Winning Amex probation...

Yea so do I. At this point like they want profitable use not necessarily responsible use. To me responsible is PIF regardless of how much you run through it...
Have;
Chase Hyatt $8.6k
Discover IT $3k
PenFed PCR $1K
AMEX Hilton and Delta $1k each, BCE $500, PRG
Cap 1 QS $1.5k
Want; US Bank Cash+, Altitude Reserve/BoA Travel Rewards/Barclay Uber/Chase CSP (in like never)

Fico 8 scores as of;
Starting(10/1/17) EQ 598 TU 602 EX 601
2/18/18 EQ 661 TU 660 EX 658
4/18/18 EQ 700 TU 675 EX 671

AAoA > 5 years
DTI 18%
Message 9 of 29
Frequent Contributor

Re: Winning Amex probation...

The Amex credit steps simply requires a statement balance to report - IOW, don't let it report zero. You can pay it down before your statement to control util, then PIF the day after it reports or before the due date. So you dont need to carry a balance, just report a balance. The statement balance can be $5 if you want, so long as it reports something on the first 5 statements. An auto CLI is granted after the 6th statement's payment is received.

I've read where others have cycled their limits - ran it up, paid it off, ran it up - within one billing cycle and it had no effect on getting the auto cli.

Some have also been lucky in requesting a cli at 61 days, despite the credit steps language at approval.



Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting Score:   09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current Score:  05/08/2018: EX 773 ✦ EQ 778 ✦ TU 754 (missing account)
Goal Score:   780's


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Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 10 of 29