Which Should I Choose....

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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exc1976
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Which Should I Choose....

Postby exc1976 » Mon Jan 12, 2009 7:44 pm

Hello everyone,

I just got bankruptcy removed from my credit report (filed in 98) and I wanted to know which was the best AmEx to apply for that has a better chance of getting an approval?

Should I go for the Costco AmEx or the AmEx Blue Cash for my first inquiry?

From experience, what are your experiences between both cards?

Any help is appreciated. :)


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Cucumber
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Postby Cucumber » Tue Jan 13, 2009 1:21 am

I :love: my Blue Cash card :D
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exc1976
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Postby exc1976 » Tue Jan 13, 2009 7:39 pm

I just applied for the Blue Cash.... I will know in 7-10 days via mail or they will send me a link via E-mail for the status. I can also check at americanexpress.com in a few days for their decision.

No delinquent accounts, keeping fingers crossed. :confused: :

Thanks for everyone's help!

Multi-Purpose
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Postby Multi-Purpose » Wed Jan 14, 2009 12:12 am

Amex is being extra cautious lately. Gone are the days of automatic credit line increases and instant approvals. They manually check everything now from what I hear.
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.
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The Fuzz
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Postby The Fuzz » Wed Jan 14, 2009 10:20 pm

FWIW... The decision is pretty instant. It might pend for two or three days, but no longer than that. If you weren't given an instant decision then it is probably because some piece of information you provided on the application wasn't verifiable through the directories. If you put a PO BOX or an address that doesn't show on your credit reports, for example. Anyway, call them in two days and they can give you the status of the application. If your credit is below 700 then I wouldn't expect a high line of credit if you are approved. Even with a 700 I have seen a lot (and I do mean a lot) of declines because of other credit factors. Your report has to be squeaky clean these days. It may have been 10 years since your bankruptcy, but be sure that it has been removed from all three bureau reports. Also, if American Express was included in the bankruptcy then you can pretty much forget about ever getting a card with them until they get their money back. Just because it isn't on the credit report doesn't mean a business can't remember being screwed. ;)

Just as a tip, the standard Green American Express card is probably one of the easiest to qualify for. It has a lot of benefits going for it as long as you are willing to pay it off in full every month. With any problems on your credit report you can expect to see maybe a $1000 credit line on any other card product, so if you don't want to cap your monthly spending then the green is probably the card you'll want to try for next if the Blue Cash doesn't work out. Good luck!

bucky7007
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which card

Postby bucky7007 » Fri Jan 16, 2009 4:12 am

Yeah, I agree, you should hear pretty quickly, if not instantly.. go for the green,, once you get in and have a good payment history with them, you can get any of the cards. I started with the rewards plus gold cs 680ish, and got a starwood with a high cl.(after 1 year) they may be more cautious,, but still they are mostly instant decision,, No? good luck

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fffresh
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Postby fffresh » Fri Jan 16, 2009 11:44 pm

How long ago did you get the Gold card with a 680 score? I believe now they may are more conservative but it is true that the cards with annual fees such as that, they are more lenient with.

Generally speaking they are instant decision. But if there is something in your credit record which doesn't match such as your address or some other piece of information they will manually verify it before approving you. They are doing the manual verifications now more too in order to verify creditworthiness.

bucky7007
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it was......

Postby bucky7007 » Tue Jan 20, 2009 6:03 pm

last winter, right before holidays, maybe they were more lenient due to the holidays, who knows. I went through a nasty divorce and used the gold card for the whole thing. I had the money in a money market account and I would pay in full every month. then I applied for a starwood.

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Cucumber
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Postby Cucumber » Tue Jan 20, 2009 11:35 pm

That is a good way to get in with Amex. Get a charge card with an annual fee and then use build up a good history with it. Then you can move on to your Amex high limit small business credit cards and then after that you can move onto a credit crisis with a low limit small biz card instead b/c they are now afraid of lending to small businesses :ppp
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bucky7007
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i agree

Postby bucky7007 » Wed Jan 21, 2009 11:21 am

once I had the gold card for a year, i got the starwood, then the blue. with cl of 10k and 8k respectively. I just recently got discover more, 6k cl, a citi cash returns(low cl 3k) in case they don't take amex or discover. my credit history was poor in early 2000, had a couple of charge offs and an auto repo(2002) took me until now to get to 710cs. all of my poor history was due to ex wife, I let her control all of the bills, and they never got paid. I am continuing to try and "clear up" old skeletons, slow and daunting task. I also have an auto loan that is picture perfect for the last 4 years. I think a variety of credit helps. I also watch my cl very closely, I always stay under 30% of my cl. I spread use evenly throughout cards. I also use ONLY credit cards for daily use, build points, etc. only use bank account to write checks.



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