Is It Too Early To Apply For Amex?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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ScorpioGuy84
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Is It Too Early To Apply For Amex?

Postby ScorpioGuy84 » Tue Dec 02, 2014 8:20 pm

I have rebuilt my credit over the past few years.

I have a zero balance on my student loans. I paid them off in one big swoop. There is some negative reporting on this because the loans sat unpaid for a while back in 2010 and were later sold to a creditor. These were paid off in late 2012. They still appear on my credit reports, but with a balance of $0 and indicate "Paid".

I have an auto loan out at the moment and I have 6 months of history and I have never missed a payment and I have always paid way before the due date.

I also have a Capital One card with a $500 limit. I applied for this in September and I have two billing cycles on this card with a balance of zero and I have made my payments on time.

I recently opened up a money market account with my credit union and they offered me a free credit report from Experian and it indicated that my score was 702.

Credit Karma says that I have a 651 Transunion score, but I do not know my Equifax score?

I want to get into the Amex family, but I am not sure if it is too early for me to do this? I have four inquiries on my Transunion report and two of these are falling off in the summer of 2015.

Any suggestions or help is greatly appreciated.

*** On an important note... I have a meeting with a credit repair company to possibly remove the baddies (my paid student loans are still on my reports and I want them removed) and I want to have one collection that was paid off removed as well. Other than that, my reports are clean.


popamode72
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Postby popamode72 » Tue Dec 02, 2014 9:02 pm

You might want to check your FICO scores just to be on the safe side. Those were FAKOS that you were given so they're not going to be nearly as accurate as determining your chances for an Amex.

Get those first and then look at people who've gotten approved for Amex cards via the Credit Pulls Database and see how your FICO compares as well as seeing if you have any prequalified offers. Amex usually will pull from EX, so I recommend checking that one first. Are the baddies also on your EX file because I think you should really take care of those first before applying for anything.
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ScorpioGuy84
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Postby ScorpioGuy84 » Tue Dec 02, 2014 9:19 pm

Thank you for your suggestions.

Where do I obtain my FICO scores - True FICO scores?

I also just looked over my Experian reports from two different sources. The first one was obtained from annualcreditreport.com and the second one was retrieved from my credit union. I have my two current accounts (Auto Loan and Capital One) on these reports and they do not show anything else. It says 0 accounts in negative standing. So this means that Transunion and Equifax are the only reports with the baddies on them.

I did do the pre qualified offer on the Amex site a few times and just recently it "offered" the Costco Amex. I don't know if this is because on this particular try I actually indicated that I was looking for a card with "cash back rewards" as opposed to the last few times when I selected "I am not sure"? I am also a Costco member... so this could be a mailer...???

thom02099
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Postby thom02099 » Tue Dec 02, 2014 10:37 pm

ScorpioGuy84 wrote:I have rebuilt my credit over the past few years.

I have a zero balance on my student loans. I paid them off in one big swoop. There is some negative reporting on this because the loans sat unpaid for a while back in 2010 and were later sold to a creditor. These were paid off in late 2012. They still appear on my credit reports, but with a balance of $0 and indicate "Paid".

I have an auto loan out at the moment and I have 6 months of history and I have never missed a payment and I have always paid way before the due date.

I also have a Capital One card with a $500 limit. I applied for this in September and I have two billing cycles on this card with a balance of zero and I have made my payments on time.

[color="red"]I recently opened up a money market account with my credit union and they offered me a free credit report from Experian and it indicated that my score was 702.
[/color]
Credit Karma says that I have a 651 Transunion score, but I do not know my Equifax score?

I want to get into the Amex family, but I am not sure if it is too early for me to do this? I have four inquiries on my Transunion report and two of these are falling off in the summer of 2015.

Any suggestions or help is greatly appreciated.

*** On an important note... I have a meeting with a credit repair company to possibly remove the baddies (my paid student loans are still on my reports and I want them removed) and I want to have one collection that was paid off removed as well. Other than that, my reports are clean.


Did that score provided by your CU specifically state it was a FICO Experian score? If not, it was probably a FAKO. 702 would be an acceptable score if it's a true FICO, if scores alone were a deciding factor. However, they are not. Age of your accounts, number of inquiries, utilization...all are factors that weigh in on a decision to get in with AMEX...or anyone, for that matter.
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takeshi
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Postby takeshi » Wed Dec 03, 2014 9:05 am

ScorpioGuy84 wrote:I want to get into the Amex family, but I am not sure if it is too early for me to do this? I have four inquiries on my Transunion report and two of these are falling off in the summer of 2015.

I'd also suggest referring to the Credit Pulls Database. However, the only way to find out for certain is to apply. If denied you'll at least have reasons for denial to use as a starting point on what to work on.

ScorpioGuy84 wrote:*** On an important note... I have a meeting with a credit repair company to possibly remove the baddies (my paid student loans are still on my reports and I want them removed) and I want to have one collection that was paid off removed as well. Other than that, my reports are clean.

You can try doing this yourself. You might want to refer to other sites with more credit repair activity. Removing the derogs first will probably help as derog tend to drag one's credit down.

ScorpioGuy84
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Joined: Mon Dec 01, 2014 10:19 pm
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Postby ScorpioGuy84 » Wed Dec 03, 2014 2:19 pm

As I said earlier:

ScorpioGuy84 wrote:Thank you for your suggestions.

Where do I obtain my FICO scores - True FICO scores?

I also just looked over my Experian reports from two different sources. The first one was obtained from annualcreditreport.com and the second one was retrieved from my credit union. I have my two current accounts (Auto Loan and Capital One) on these reports and they do not show anything else. It says 0 accounts in negative standing. So this means that Transunion and Equifax are the only reports with the baddies on them.

I did do the pre qualified offer on the Amex site a few times and just recently it "offered" the Costco Amex. I don't know if this is because on this particular try I actually indicated that I was looking for a card with "cash back rewards" as opposed to the last few times when I selected "I am not sure"? I am also a Costco member... so this could be a mailer...???


I just looked at my Experian report from the credit union and it says "XPN/Fair Isaac Risk Model V2 = 0702". Is this a true FICO?

Can anyone chime in on the questions I asked earlier in regards to the Costo mailer... and where I can get my true FICO scores?

Thanks!



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