753 credit score, is it good enough to be approved?

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Deweytf4
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753 credit score, is it good enough to be approved?

Postby Deweytf4 » Mon Feb 27, 2012 9:15 pm

Hello there,

Right now I'm approaching the first year of having a credit card and here is where I stand.

Credit score is 753, I pay the balances in full in every month, make roughly about 24k a year, and I'm never late with a payment. I have the following cards.

  • Capital One secured card:cl 201 (feeble I know, but was the first card)
  • Credit union card: cl 1000
  • Citi platinum select: cl 1000
Seems unlikely, but what is the probability that I would be approved for either the Amex blue cash preferred card or an Amex charge card?

Thanks.


namvet
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Postby namvet » Tue Feb 28, 2012 1:58 pm

If that 753 is a real Fico score, i would say you have a good chance of being approved. You need to find out which bureau Amex pulls in the state that you live in. Do some research on which Amex card you would most likely be approved for.

irvine801
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Postby irvine801 » Tue Feb 28, 2012 3:03 pm

I'd go green or Zync charge card. U should be good if that's a 753 Fico credit score. Or even Fako is say. Blue Cash is a bit harder to obtain. And they're mostly gonna pull from EX.
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Thu Mar 01, 2012 3:36 am

Deweytf4 wrote:Hello there,

Right now I'm approaching the first year of having a credit card and here is where I stand.

Credit score is 753, I pay the balances in full in every month, make roughly about 24k a year, and I'm never late with a payment. I have the following cards.

  • Capital One secured card:cl 201 (feeble I know, but was the first card)
  • Credit union card: cl 1000
  • Citi platinum select: cl 1000
Seems unlikely, but what is the probability that I would be approved for either the Amex blue cash preferred card or an Amex charge card?

Thanks.


As you have had credit for less than a year, then no, your 753 is not going to be high enough for an AmEx Blue preferred cash card. Maybe a Zync card. Your denial reason will be, "Length of credit history insufficient, or insufficient credit file". I would not recommend applying anyway hoping you'll get it. You will get an hard credit inquiry that you don't need in your file right now.
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Pete838
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Postby Pete838 » Fri Mar 02, 2012 8:36 am

I would be very surprised if you have a true 753 FICO with only a year of revolving account history. A lot of companies sell you their own version of a score that doesn't much resemble a FICO. Also, creditors don't just look at your score number when evaluating your risk. They also look at length of history, types of accounts, income, etc.

I remember about 4 years ago I pulled my three scores from a credit service I had at the time, and had 750+ across. I went car shopping expecting a great rate, and was mortified when the dealership showed me at a 680 score on their report. After doing some digging and research it turned out that my "750" was a made up number that had little to do with reality and a lot to do with this company touting their improvement to my credit score.
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PlatinumAMEX94
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Postby PlatinumAMEX94 » Fri Mar 02, 2012 2:07 pm

I agree, I didn't think that was a true credit score. But I don't put 100% in just a score. While having a high credit score is a "win", it is only a snapshot, just like getting a A in a class on your report card. Sure you are doing great now, but overall, your GPA may still much to be desired. A coworker, who was only 21 had a credit score of 720 and was claiming he had better "credit" because of his score. However, when he went to apply for an American Express (the true test right?), he was denied due to insufficient credit history. I explained to him how the first semester of college he could have only taken one class, got an A, and hence, a 4.0. But that was for only one semester. It doesn't mean you are Mensa material, ... just yet.
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irvine801
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Postby irvine801 » Fri Mar 02, 2012 6:03 pm

PlatinumAMEX94 wrote:I agree, I didn't think that was a true credit score. But I don't put 100% in just a score. While having a high credit score is a "win", it is only a snapshot, just like getting a A in a class on your report card. Sure you are doing great now, but overall, your GPA may still much to be desired. A coworker, who was only 21 had a credit score of 720 and was claiming he had better "credit" because of his score. However, when he went to apply for an American Express (the true test right?), he was denied due to insufficient credit history. I explained to him how the first semester of college he could have only taken one class, got an A, and hence, a 4.0. But that was for only one semester. It doesn't mean you are Mensa material, ... just yet.


nicely said. I agree with that 100% . And lol'd at the your friends denial.
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

Deweytf4
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Postby Deweytf4 » Mon Mar 05, 2012 4:32 pm

Hey guys, thanks for all the responses.

I applied for the Zync card online and got denied, so I called up the executive office and talked to a lady. She was very nice, and after talking to her a bit, I got approved for a Zync. I at least now have my foot in the door.

JA.
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Postby JA. » Sat Mar 10, 2012 1:43 am

Congrats, just got approved this morning for the zync card with a 735 estimated score and 7 months of credit history xD
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dznutz
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Postby dznutz » Sat Mar 10, 2012 11:56 am

i'd say if you have a 700+ you should be fine.

i have a fico of 729 with no income (med student) and was approved for Blue Cash



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