American Express Application Status - How Long Will It Take?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
16 posts
ashleyAMX
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Postby ashleyAMX » Thu Feb 24, 2011 6:25 pm

That's odd that you got declined for the inquiries.. I have a ton and they accepted me and my average age of accounts is pretty short. But if those are the reasons I would wait and let your accounts age and the inquiries fall off before you open new credit. Especially since like you mentioned you aren't desperate and the more you try the more inquiries. So just hold off until you know you won't get declined. That's just my thought.


c0Ld
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Postby c0Ld » Thu Feb 24, 2011 8:08 pm

Do you mind if I ask how about how many inquiries you had when you applied and how old your accounts were? Did you have much of anything for balances on them?

If I keep applying for the Zync, wouldn't Amex see that the last one (two?) inquires are from them?

I might try one more time this summer or so once my accounts reach a bit more maturity. I should also mention that all of my high balances (my amazon credit line I used for furniture and my car repair loan) have been paid off since I applied using my tax return last week, so maybe that'll help...

Really my goal is to end up with two main cards I can use until I get my career-job. One for every day (I'd prefer Zync) and one for extra unexpected things (my credit union Visa would work fine for this). Right now since I've got two "store" cards (amazon, paypal) and my credit union visa, I've really only got one card that I can use for anything. Like most people, I applied for both Amazon and Paypal hoping for their mastercards... both are handy since I shop online a lot, so I won't complain, but it doesn't help my final goal much.

I could just go for the Capital One "Journey" card for every day use since it has an okay reward (1% cash back), I've heard it is ridiculously easy to get. I've heard a lot of horror stories about Capital One though so I'd prefer to just wait on Zync... blah!

c0Ld
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Location: Illinois

Postby c0Ld » Thu Feb 24, 2011 9:08 pm

Also, does anyone know if opening a savings account with amex is a good way to build history with them or not? I know it typically doesn't show up on a credit report, but at least my name would be in their system already... I've been thinking about it for awhile anyway since they literally pay out 10 times as much interest as my credit union. Still pennies to dollars a year, but a penny saved is a penny earned :)

ashleyAMX
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Location: Florida

Postby ashleyAMX » Fri Feb 25, 2011 6:15 am

11 inquires. 1.6 years of account history. 2 accounts 1 auto loan always paid on time. 1 c.c. always paid on time no revolving balance ever. But, the key to getting the one was obviously after several years of recklessly and ignorantly shopping to build credit. I look for the most unattracted major card. Capital one..the glorified no rewards no student annual fee high interest. Instantly approved. After building good history with capital one and having my credit score rapid improve I applied for zync.. no preset limit.


In your case, id say the utilizations on your accounts are probably choking your scores. Keep them below 30% (at most). For me, the 30% mark is my spending limit..and even that is too much.

It appears that you have a few cards. If I were you, id pay those off or down. Make small purchases every month to keep them active then pay them off before the close date of your bill. Do this for 6 months, your score will improve

ashleyAMX
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Joined: Sat Jan 22, 2011 2:39 pm
Location: Florida

Postby ashleyAMX » Fri Feb 25, 2011 6:17 am

Then after that take a stab at zync. Also, inquiries are like scars they take a while to disappear. And closing an account is death. So be very selective before you apply (plan on having it for life)

c0Ld
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Joined: Tue Jan 25, 2011 4:12 pm
Location: Illinois

Postby c0Ld » Sat Feb 26, 2011 3:56 pm

Sounds good. My utilizations are high of no fault of my own - my limits are still low because I have little history. I try to keep them paid off before the statement hits but I know once in November or December I let it post with like 80% utilization on my main card... I personally didn't care and just paid it off as soon as I saw it on my account, but I know it can't help my score much. I'm hoping after a few more months of history showing that I always pay off on time and PIF in all cases except for my Amazon line (and that's being paid before my 0% promo ends) it'll give me enough luck to grab Zync. I've also got my small personal installment loan paid off as of 2 weeks ago or so, but that hasn't shown up on my report just yet. I have a feeling that having all of my debt down to 0 and waiting a bit will make Amex change their mind..



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