Wife approved for PRG with low score

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BYTech
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Wife approved for PRG with low score

Postby BYTech » Wed Jun 22, 2016 1:16 am

Hello all - I know there have been discussions about people getting approved for charges cards even with low credit scores. I wanted to share my experience (actually my wife's) just as another data point.

I read from bloggers that the PRG was offering 65k sign up points so I told my wife this would be a great opportunity to apply since 65k bonus is hard to come by. I was unsuccessful to get the incognito trick to work so we settled for the 50k bonus points which is still a solid offer. I think the offer is still going on if you want to apply for the card.

My wife's score dropped 100 points after forgetting to pay for her student loans (which multiplied since there are 4 or 5 underlying loans with each loan) for 2 months but I couldn't blame her she was 7 months pregnant so she was forgetting everything at the time. After applying she received an instant approval with Experian score of 626. However she does have high income so I believe that helped a lot. Also, I added her as an authorized user on several of my Amex cards so perhaps that help as well.

After being approved for the charge card I told her to immediately apply for the EveryDay Preferred to take advantage of the one credit pull on the same day trick. Unfortunately, she was instantly denied which was not too surprising. I told her to call Amex and request a manual recon because I have been approved in approx. 30 minutes from requesting a manual recon. Although my wife's status is still in progress now so if they approved her she will receive another hard pull but it would worth it for the everyday card.
Cards:
Amex: Platinum Mercedes (5/16), PRG (4/16), Gold (4/16, will close), Mercedes Revolver (4/16), ED (4/16), SPG (5/16), Business Gold (5/16), Business Green (6/16), Business Platinum Delta (6/16), Corporate Green (6/16)
BofA: Cash Rewards (6/07)
Citi: Prestige (5/16), TY Premier (5/16)


im_mr_awesome
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Location: Indianapolis, IN

Re: Wife approved for PRG with low score

Postby im_mr_awesome » Thu Jun 23, 2016 6:09 am

I have a feeling it's being an AU on your AMEX accounts that helped the most here, with income at a close second. I have a few much older late payments than you've indicated and was just denied less than a week ago, not that payment history is the only factor. Otherwise, my chances looked fair, if not good, hence my new short term goal of 680, and in 6 months I'll try again before end of the year.

Still, nice grab on those points! Enjoy.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680

BYTech
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Joined: Fri Apr 08, 2016 9:04 pm

Re: Wife approved for PRG with low score

Postby BYTech » Thu Jun 23, 2016 1:15 pm

im_mr_awesome wrote:I have a feeling it's being an AU on your AMEX accounts that helped the most here, with income at a close second. I have a few much older late payments than you've indicated and was just denied less than a week ago, not that payment history is the only factor. Otherwise, my chances looked fair, if not good, hence my new short term goal of 680, and in 6 months I'll try again before end of the year.

Still, nice grab on those points! Enjoy.


Sorry to hear about the denial - not sure where your utilization was during the application but I always try to get my utilization low before I apply. I have read the Amex is one of the banks that like to see very low utilization.

Yeah thanks - hopefully the new card can get my wife more positive payments to increase her percent on time payments. Good luck applying again at the end of year. Keep us posted.
Cards:
Amex: Platinum Mercedes (5/16), PRG (4/16), Gold (4/16, will close), Mercedes Revolver (4/16), ED (4/16), SPG (5/16), Business Gold (5/16), Business Green (6/16), Business Platinum Delta (6/16), Corporate Green (6/16)
BofA: Cash Rewards (6/07)
Citi: Prestige (5/16), TY Premier (5/16)

Credit4115
 
Posts: 2
Joined: Thu Jun 23, 2016 11:06 pm

Re: Wife approved for PRG with low score

Postby Credit4115 » Thu Jun 23, 2016 11:11 pm

I am in the middle of a rebuild.
Decent income. Paid off all my cc debt
4K on a car loan.
612 credit score. Got approved for a everyday American Express card.

So hope for some out there

BYTech
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Posts: 43
Joined: Fri Apr 08, 2016 9:04 pm

Re: Wife approved for PRG with low score

Postby BYTech » Fri Jun 24, 2016 9:15 pm

Credit4115 wrote:I am in the middle of a rebuild.
Decent income. Paid off all my cc debt
4K on a car loan.
612 credit score. Got approved for a everyday American Express card.

So hope for some out there


Nice congrats on the approval. That's one of the tougher ones to get.
Cards:
Amex: Platinum Mercedes (5/16), PRG (4/16), Gold (4/16, will close), Mercedes Revolver (4/16), ED (4/16), SPG (5/16), Business Gold (5/16), Business Green (6/16), Business Platinum Delta (6/16), Corporate Green (6/16)
BofA: Cash Rewards (6/07)
Citi: Prestige (5/16), TY Premier (5/16)



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