Minimum credit score required for AMEX green

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p51
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Minimum credit score required for AMEX green

Postby p51 » Wed Nov 26, 2014 2:31 pm

Hello all,

My credit score now sits at 687. I am wondering if this is considered high enough to consider applying for an AMEX green charge card. Getting an AMEX has been a credit repair goal of mine. I think I can probably qualify for a Chase Freedom card, but AMEX is my 1st choice.

Thank you.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500


popamode72
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Postby popamode72 » Wed Nov 26, 2014 2:48 pm

Is that an Experian FICO? More information would be helpful especially if you have any baddies on that report.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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PlyrStar93
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Postby PlyrStar93 » Wed Nov 26, 2014 2:53 pm

There is never a strict "minimum score required". They do not disclose what score do they approve or deny, and they also consider other information in your application and credit profile.

Also, one score doesn't mean much because it may convey nothing more than a number. You may have a mix of items (good or bad) that result in such a score, so it's better to think more about the details. Moreover, which model the score is calculated upon and which bureau the information provided are to be thought about.

Usually Amex pulls Experian, but they can pull others as well. What I would say is check your Experian credit file and see if there are any recent negatives listed. If not, then it's OK. In addition, be prepared to have your report from other bureaus pulled by them, so it's also good to know if you have and bad items on Equifax and TransUnion.

With an OK income and a few late payments that are faraway, it should not be too much a problem. Amex somehow would have less strict underwriting criteria on Charges than revolvers as you have to pay balance in full each month.

If your repossession has fallen off, and there are no recent late payments and other derogs, and your income filled in the application is not too shabby, then I would say you probably have a good chance of getting approved.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
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p51
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Postby p51 » Thu Nov 27, 2014 7:37 am

PlyrStar93 wrote:There is never a strict "minimum score required". They do not disclose what score do they approve or deny, and they also consider other information in your application and credit profile.

Also, one score doesn't mean much because it may convey nothing more than a number. You may have a mix of items (good or bad) that result in such a score, so it's better to think more about the details. Moreover, which model the score is calculated upon and which bureau the information provided are to be thought about.

Usually Amex pulls Experian, but they can pull others as well. What I would say is check your Experian credit file and see if there are any recent negatives listed. If not, then it's OK. In addition, be prepared to have your report from other bureaus pulled by them, so it's also good to know if you have and bad items on Equifax and TransUnion.

With an OK income and a few late payments that are faraway, it should not be too much a problem. Amex somehow would have less strict underwriting criteria on Charges than revolvers as you have to pay balance in full each month.

If your repossession has fallen off, and there are no recent late payments and other derogs, and your income filled in the application is not too shabby, then I would say you probably have a good chance of getting approved.


Thank you. I will check my Experian score. That number I quoted was a myFico Equifax score. I make 50k/yr with a good debt to income ratio. 0 inquiries in the last few years. All baddies are over 6 years old.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

popamode72
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Postby popamode72 » Thu Nov 27, 2014 7:46 am

p51 wrote:Thank you. I will check my Experian score. That number I quoted was a myFico Equifax score. I make 50k/yr with a good debt to income ratio. 0 inquiries in the last few years. All baddies are over 6 years old.


In that case, I think you should go for an Amex. If you have any problems, I've noticed that more and more people have been having success with recon with them.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

p51
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Postby p51 » Thu Nov 27, 2014 10:59 am

popamode72 wrote:In that case, I think you should go for an Amex. If you have any problems, I've noticed that more and more people have been having success with recon with them.

Just checked Experian score..690!!! Last negative info reported was 3.2 years ago. I know for most on this site 690 is not high at all. For me, it is wonderful to FINALLY be here!!!
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

popamode72
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Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Thu Nov 27, 2014 11:52 am

p51 wrote:Just checked Experian score..690!!! Last negative info reported was 3.2 years ago. I know for most on this site 690 is not high at all. For me, it is wonderful to FINALLY be here!!!


I think you'll be fine for Amex with that score assuming you have a lot more positive history than negative. Give it a shot. And the underwriting requirements for the charge cards are basically the same so if you wanted one with rewards, you could also look at the PRG and once you've built up enough history with the card, close it before the annual fee kicks in and get a revolver. There's also a 25K point sign up offer right now too.

The great thing about Amex is that once you've built up some history with them, you'll be able to get their other cards without as much of an issue. I got in with them in June and since then have been able to get the ED, Green (which I closed) and BCE and two of those were instant approvals.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

p51
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Posts: 100
Joined: Sat Nov 15, 2014 11:11 pm
Location: Boston, MA

Postby p51 » Thu Nov 27, 2014 12:17 pm

popamode72 wrote:I think you'll be fine for Amex with that score assuming you have a lot more positive history than negative. Give it a shot. And the underwriting requirements for the charge cards are basically the same so if you wanted one with rewards, you could also look at the PRG and once you've built up enough history with the card, close it before the annual fee kicks in and get a revolver. There's also a 25K point sign up offer right now too.

The great thing about Amex is that once you've built up some history with them, you'll be able to get their other cards without as much of an issue. I got in with them in June and since then have been able to get the ED, Green (which I closed) and BCE and two of those were instant approvals.


Thank you for the advice. Didn't know the underwriting requirements were the same for Green & PRG. Going to compare/contrast & see which is better suited for my needs.
In your opinion, what do you consider to be enough history (before closing a card).
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

popamode72
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Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Thu Nov 27, 2014 12:22 pm

p51 wrote:Thank you for the advice. Didn't know the underwriting requirements were the same for Green & PRG. Going to compare/contrast & see which is better suited for my needs.
In your opinion, what do you consider to be enough history (before closing a card).


I think if you go for the card now, you'll be able to establish your MSD date for this year so that in the next year, if you decide to get other Amex cards they'll be backdated to this year. For example, if you were to go ahead and get approved for an EveryDay card in February 2015, it will report to credit bureaus as being opened in February 2014 instead. As you said, see which card suits your needs best and go from there.

As for me, I had the Green card for a couple of months because at the time, I thought it would have been really good to have for paying bills and not having my utilization affected but realized in the end that it wasn't exactly what I was hoping for, especially in terms of the rewards so I just closed it. You need to determine what will work best in your situation.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

p51
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Posts: 100
Joined: Sat Nov 15, 2014 11:11 pm
Location: Boston, MA

Postby p51 » Thu Nov 27, 2014 1:45 pm

popamode72 wrote:I think if you go for the card now, you'll be able to establish your MSD date for this year so that in the next year, if you decide to get other Amex cards they'll be backdated to this year. For example, if you were to go ahead and get approved for an EveryDay card in February 2015, it will report to credit bureaus as being opened in February 2014 instead. As you said, see which card suits your needs best and go from there.
As for me, I had the Green card for a couple of months because at the time, I thought it would have been really good to have for paying bills and not having my utilization affected but realized in the end that it wasn't exactly what I was hoping for, especially in terms of the rewards so I just closed it. You need to determine what will work best in your situation.


I'm going to apply for the PRG tonight & see what happens. At least I'll know one way or the other where I actually stand.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500



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