- Green Member
- Posts: 4
- Joined: Sat Feb 02, 2013 11:23 pm
- Location: USA
On this same topic, I am also a student and really want the Amex Green b/c its an entry level charge card (I like not carrying a balance) and I wouldn't mind travel rewards either since I'm a student that flies b/w school and home (+ I think Amex green is just a sweet card to have).
I similarly got rejected, the reasons AMEX stated from my Experian report were "lack of any revolving credit," very likely b/c I applied for AMEX as my first card ever (I didn't have any other credit cards) and also "loan amounts too high."
Items on my credit report: I have a car loan paid in full, 2 education loans (from undergrad) paid in full, one education loan active ($20K, I'm currently in law school), and very very recently a Wells Fargo secured card.
I'm hoping building a history on the WF secured will solve the "lack of recent revolving credit" issue, but idk what to do about "loan amount paid to loan amount balance too high" since law school loans are deferred until we graduate.
The score AMEX gave me based on Experian was a 642, obviously low after research in this forum and realizing that they really only look for 700+ ppl.
my real question: how long should I use the secured card before re-applying for AMEX Green to be safe + more or less guaranteed success?
Is just positive use of one secured card enough for AMEX's standards of green or do they want like usage of 3 different cards?
Does AMEX look at % of credit utilized per month and if so, what is a good number to stay at if I'm paying my balance down to $0.00 every month?
Sorry if they're obvious stuff, I come from a super eastern mentality "cash only"/debit everything kinds of parents and therefore have done all the learning solo so far. Thanks kindly for all the help