Current Score vs. Last Month - Looking at AmEx

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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nowipaco
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Current Score vs. Last Month - Looking at AmEx

Postby nowipaco » Wed Jan 21, 2015 10:50 am

I am looking to apply for both the Everyday Blue Cash and the Premier Rewards Gold in the next two months and have made great strides at getting my credit right in the last year. Just got my Vantage score of 724 for this month. But it was much lower last month because I just paid down all of my credit cards to about 25% with my Christmas bonus. Also got a CLI last month that wasn't asked for from Capital One. I am 21 years old and a senior in college.

I want to know what my chances look like to get approved for both of these cards based on your experiences?

I also wonder if they just look at my current score or also what it was last month?

AmEx ED: $4500 (02/15)
AmEx PRG: NPSL (02/15)
AmEx SPG: $2000 (06/15)
Capital One QS: $3250 (02/13)
Marriott: $5000 (01/16)
Ritz Carlton: $13,500 (09/15)
TCL: $34,750 (Some not shown above)

22 y/o student


Jarrodpd
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Postby Jarrodpd » Wed Jan 21, 2015 2:40 pm

nowipaco wrote:I am looking to apply for both the Everyday Blue Cash and the Premier Rewards Gold in the next two months and have made great strides at getting my credit right in the last year. Just got my Vantage score of 724 for this month. But it was much lower last month because I just paid down all of my credit cards to about 25% with my Christmas bonus. Also got a CLI last month that wasn't asked for from Capital One. I am 21 years old and a senior in college.

I want to know what my chances look like to get approved for both of these cards based on your experiences?

I also wonder if they just look at my current score or also what it was last month?


If I'm not mistaken Vantage score is a Fako credit score, so what your real score is may be different positive or negative. If you do have a Experian score of 680 or higher you should be accepted also depending on credit history and any negatives.
[size=80]USAA Secured Mastercard: $600 @9.9% APR
USAA Platinum Mastercard: $1500 @12.9% APR CLIed to $2500
American Express HHonors no AF: $2900 @17.24% APR CLIed to $8700
American Express Premier Rewards Gold: NPSL
American Express Platinum: NPSL

Exp: 721|Equ: 708|Tu: 729 (5th October 2014)[/size] | Exp: 743|Equ: 734|Tu: 743 (3rd December 2014)

hammerandnails1859
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Postby hammerandnails1859 » Wed Jan 21, 2015 2:51 pm

I agree with Jarrodpd, you shouldn't have any problem. Only drawback would be your credit history or lack of with your age, not knowing how long you've been building your credit.

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Vattené
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Postby Vattené » Wed Jan 21, 2015 4:56 pm

I'd guess your chances are good IF you don't have any derogatory marks on your credit profile. You have a thin history but as long as it is clean you should be good. If you are worried about your odds, consider applying for the PRG first as the charge cards have the least stringent underwriting criteria.
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FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Jan 21, 2015 9:50 pm

nowipaco wrote:I am looking to apply for both the Everyday Blue Cash and the Premier Rewards Gold in the next two months...

Just got my Vantage score of 724 for this month.

I also wonder if they just look at my current score or also what it was last month?


1. As someone who has both the BCE and PRG, I can tell you that you probably don't need both. If you can make good use of the MR point system through airline transfers, if you like the like the benefits of the PRG, and you're willing to pay the annual fee, then you will very rarely actually use the BCE.

If you want a nice signup bonus with the PRG and plan to drop it later, then that can make sense. I might end up doing that. Just don't expect to need to use both often in the long run.

If you need to carry a balance, a BCE isn't a good choice because the interest rates tend to be much higher than on special balance transfer cards.

2. Multiple generations of the VantageScore are still in use. Find out if your 724 is out of 850 or 990.

3. In my experience, lenders are mostly concerned with the immediate present. 25% is still pretty high utilization, though. That alone might scare Amex, regardless of your history.

Sometimes I do make educated guesses about a person's approval odds, but this is a hard one and I don't even have all the information. Amex generally likes customers who spend a lot of money and pay on time and in full. They don't seem to like the risk of default that comes with charging interest.

For how long have you had the Capital One card open? When you say you were getting your credit right, do you mean you were learning and building your credit history up from nothing? Or are there marks for bad behavior in the past, and how old are they?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

ingramjuan
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Postby ingramjuan » Wed Jan 21, 2015 10:17 pm

Just a short comment based only my experience when I was approved for a AMEX. Credit score was around 740, utilization was around 15% no hard inquires within the pervious 12 months before I applied. But after reading several threads over the last several months about applying for the first AMEX, looks like I could have been approved with a score around 700.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes

nowipaco
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Postby nowipaco » Thu Jan 22, 2015 12:22 am

CarefulBuilder14 wrote:For how long have you had the Capital One card open? When you say you were getting your credit right, do you mean you were learning and building your credit history up from nothing? Or are there marks for bad behavior in the past, and how old are they?


I've been building my credit up from nothing. My parents have poor credit, so I started building it on my own when I went off to school. I've had the Capital One card for 2 years now. They started me with $300 and now after 3 CLI's I am at a limit of $1750. I have no derogatory marks, but I did have a doctor's office bill go into collections for $150 when I was working as a counselor at a camp the summer I graduated high school. The contact information was incorrect and the bills were not reaching the correct address. The collections account status showed up on my report and I figured it out and paid it immediately. It is settled. But could that wreck my chances?

AmEx ED: $4500 (02/15)
AmEx PRG: NPSL (02/15)
AmEx SPG: $2000 (06/15)
Capital One QS: $3250 (02/13)
Marriott: $5000 (01/16)
Ritz Carlton: $13,500 (09/15)
TCL: $34,750 (Some not shown above)

22 y/o student

takeshi
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Postby takeshi » Thu Jan 22, 2015 8:53 am

nowipaco wrote:I also wonder if they just look at my current score or also what it was last month?

Pull is done when you apply. Score is generated at that time based on the data in your report. As stated above they do not use VantageScore.

CarefulBuilder14 wrote:As someone who has both the BCE and PRG, I can tell you that you probably don't need both.

Really depends on the specifics surrounding the individual but the BCE is also rarely a bet fit. OP should carefully run the numbers. Most that go for the BCE seem to only be considering AF.

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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Jan 22, 2015 10:16 am

nowipaco wrote:I've been building my credit up from nothing. My parents have poor credit, so I started building it on my own when I went off to school. I've had the Capital One card for 2 years now. They started me with $300 and now after 3 CLI's I am at a limit of $1750. I have no derogatory marks, but I did have a doctor's office bill go into collections for $150 when I was working as a counselor at a camp the summer I graduated high school. The contact information was incorrect and the bills were not reaching the correct address. The collections account status showed up on my report and I figured it out and paid it immediately. It is settled. But could that wreck my chances?


Assuming the medical bill is still showing on the report and wasn't removed through a 'goodwill delete', I don't know if you have grounds for getting the collections taken off your credit report (either through a formal dispute or politely making a request to the debt collector). I'll leave that part for someone with more experience in that area.

If you can pay off the last few hundred dollars of existing debt, and get the medical collections account off your report, I'd say your odds of an Amex are pretty high - either for a BCE or PRG. You'd have two years of clean history, which would be great!

Unless you're able to fix both, the odds are lower but I'm not sure how much lower.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

nowipaco
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Postby nowipaco » Thu Jan 22, 2015 12:57 pm

On any of the reports I've been able to look at since I settled the account, it says that I have 0 derogatory marks on all of them. But could this be different than what you are talking about? Because I looks as if the medical bill is no longer effecting my credit score or showing up on the report.

AmEx ED: $4500 (02/15)
AmEx PRG: NPSL (02/15)
AmEx SPG: $2000 (06/15)
Capital One QS: $3250 (02/13)
Marriott: $5000 (01/16)
Ritz Carlton: $13,500 (09/15)
TCL: $34,750 (Some not shown above)

22 y/o student



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