Will high income help me get approved despite just OK credit?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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BDBlue
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Location: Wilmington, DE

Postby BDBlue » Sat Jun 30, 2012 5:36 pm

DavidNY wrote:Your credit reporting date and closing date are two different things.


Yes, but both my CCs have always reported my statement balance; they did this month as well. Usually my statement balance is close to $0, but since my statement cut a couple days earlier than I expected, my payment didn't post until after the statement for the month had cut.

I think the real issue is my history with Amex. I think I'll need to get my FICO considerably higher before they'll accept me for anything--even the Zync--and I'm guessing the few points I'll gain by reducing my utilization % won't be enough. But with time, my score will keep going up; I'll just have to be patient.


BDBlue
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Location: Wilmington, DE

Postby BDBlue » Tue Jul 03, 2012 11:04 pm

So, I saw a post on here about a Zync with a hard $500 limit and mandatory auto-pay; I did a little additional reading, and it sounds like the credit requirements for it are pretty minimal.

What do you think? Given my credit profile (Fico ~650, very low credit card utilization, paid off collection account with AMEX from several years ago, high income), would I have a chance at getting some form of the Zync? Even if it's just the $500 limit card, it would give me a chance to start repairing that "Cardmember risk score" from the inside, so that I might qualify for a better card down the road.

thomaswhitehall
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Postby thomaswhitehall » Wed Jul 04, 2012 2:01 am

BDBlue:

Amex tends to never forget from what I've read. A paid collection account with them from several years ago might not be so good.

How many years ago was it?

BDBlue
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Location: Wilmington, DE

Postby BDBlue » Wed Jul 04, 2012 8:43 am

It was about four years ago, in the midst of the financial crisis. I'd like to think that the relatively short delinquency and the speed with which I paid them in full would work in my favor.

While I know Amex has a very long memory if you didn't pay them in full, I've read that they're very willing to approve you if the debt has long since been paid in full. Can anyone verify?



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