Do i have a chance?

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rutga
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Do i have a chance?

Postby rutga » Thu Jan 10, 2013 10:40 pm

desperately want amex charge card green gold or platinum,
no credit history but income around 250k and assets around 1m
should i even apply? since i got no credit history.


MemberSince99
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Postby MemberSince99 » Fri Jan 11, 2013 6:44 am

Short answer - NO, unless you want to go all the way to the executive office for reconsideration and really be persistent about it. If it's THAT worth it to you and you can do that and will, then go ahead and apply. They will SURELY reject you for having no credit history at all, but they love income and you MIGHT be able to get the executive office to let you in the door. I haven't had much success as a "rich" person getting them to see my point of view (I'm not rich) so I can't tell you from experience, just from accounts I've read. I can tell you that us normal folks would have the chance of a snowball in hell of getting it with no credit history.

So it will say NO when you apply, but recon it all the way to the executive office and point out income and assets.

Otherwise be prepared to do it the traditional way. We can better help you with that, but it will take at least 6 months if not a year to accomplish that.

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djrez4
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Postby djrez4 » Fri Jan 11, 2013 8:52 am

MemberSince99 wrote:Short answer - NO...


That wasn't really a short answer. ;)

But he's right, despite being a cheesehead. No history = no Amex.

Are you really entirely history-free? No student loans? Closed accounts that still report? If you have no history at all, your only real option is to start from scratch with a secured card. Your bank may be able to offer you a card secured by your deposits with them. Six months of history with that will get you a credit score with all three bureaus. You may be able to get your Amex then. It might be a better idea to wait a year, though.
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rutga
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Postby rutga » Fri Jan 11, 2013 9:55 am

djrez4 wrote:
Are you really entirely history-free? No student loans? Closed accounts that still report?


i was a additional cardholder in my mom's amex platinum for a couple years other then that no.

ceemee
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Postby ceemee » Fri Jan 11, 2013 11:10 am

Not an expert but I agree. I had no credit (but some (bad) history) in 2011. I applied for a few cards, was rejected but finally got one from BofA then a couple others. Less than a year later, I was instantly approved. If you're patient, you can get in with no recon.

Robrus1
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Postby Robrus1 » Fri Jan 11, 2013 12:42 pm

If you have absolutely no credit history, then I agree with the above comments, however, I think you should call and apply over the phone, given your income/assets. I'd be curious to see what they say, and if you haven't applied for any cards yet, one inquiry won't hurt. I just think if you apply over the phone and you are able to explain your situation to a person, you might have a better shot.
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silver6054
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Postby silver6054 » Fri Jan 11, 2013 1:31 pm

rutga wrote:desperately want amex charge card green gold or platinum,
no credit history but income around 250k and assets around 1m
should i even apply? since i got no credit history.


Is this no US credit history (with credit history elsewhere) or really no credit history anywhere? In the former case, high-wealth individuals can get stuff done, particularly with international companies like Amex.

jrv
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Postby jrv » Fri Jan 11, 2013 1:57 pm

I think you have a decent chance with your income. If some college kids can get an AMEX green card with low income & no credit history, than I think it's worth a shot to apply.
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Money card
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Postby Money card » Sat Jan 12, 2013 10:24 pm

I agree with membersince99. I would recommend starting off with who ever you have a checking account with. your local bank I don't mean
chase, capitol1, bank of america or citi. it's possible you could get the clear card, although you said you have no credit. so probably not.
I would recommend a Newport bank a local bank and try for 1 of there credit cards then you can work your way up to a green card.

icanectc
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Postby icanectc » Tue Jan 15, 2013 7:58 pm

AMEX is not going to believe the income of someone who has no credit history. Most likely it will be either flat denied or pending with an income verification. Even if you get a flat denial AMEX should have the ability to prove income.

Income isn't vetted by a banking institute however they can make a very accurate educated guess as to your income based on your credit report.(Such as: revolving credit line max's, history and high/low balances - along with installment loans and their balances.)



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