What are my chances of getting the Fidelity?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
15 posts
thelastroyalty
Green Member
Green Member
 
Posts: 10
Joined: Mon Nov 19, 2012 7:33 pm
Location: USA

What are my chances of getting the Fidelity?

Postby thelastroyalty » Thu Aug 29, 2013 10:18 pm

I am 23 with a personal income of 60k with my wifes income of about 25k. I also scored with tesla stock earlier in the year so I could add that to our income and get over 100k annualized income for the year (I only started work last month) Here is my credit info:

Credit scores are all around 690. This is because my Wells card is currently at 50% util, however once my payment is recognized my score should pop back up to 730+ which is where it hovered all of last year.

My hard inquires are as follows: (last 2 years?)
  • TU - 5
  • EQ - 5
  • EXP - 6

I only have 4 since January, one of which was Experian back in February. 3 of 4 were from phone and internet companies.

I currently have 4 credit cards, 2 of which are store cards that I never use. Total Cl is probably 8 or 9k. Average account length is really low, probably 13 months now.

No other missed payments or anything of the sort. I have a $5600 car loan. I also have about 6 months salary in savings if this makes a difference.

Additionally I have had an account at fidelity since April - I maxed out my 2012 IRA and have not an insubstantial amount of my money in investments there.

Lastly, although I don't know if it means anything, I have been a Costco member for 6 months now. I have heard this gets you into their true earnings card easily. If my credit history is too short for Fidelity I would get the Costco card just so I could join the family and get backdated to as early as possible.


Love the forum! Lurk here often hope I can get some guidance and return the favor later.


takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Fri Aug 30, 2013 10:44 am

Fidelity or AmEx? TrueEarnings is issued via AmEx, not Fidelity. Fidelity has an AmEx card but it's not issued by AmEx.

Robrus1
Centurion Member
Centurion Member
 
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Fri Aug 30, 2013 10:51 am

takeshi wrote:Fidelity or AmEx? TrueEarnings is issued via AmEx, not Fidelity. Fidelity has an AmEx card but it's not issued by AmEx.


I believe OP is referring to the Fidelity AmEx.

OP, just to be safe I would wait until your utilization is lower and your scores show 700 or so. The combination of utilization and inquiries make it seem a bit risky.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

User avatar
PlatinumAMEX94
Centurion Member
Centurion Member
 
Posts: 321
Joined: Mon Jan 02, 2012 1:21 am
Location: Denver

Postby PlatinumAMEX94 » Fri Aug 30, 2013 10:56 am

I would suggest you hold off on applying for any new credit. Based on the information you provided I think it may be difficult with so many credit inquiries on your report. I can see several rejection reasons:

1) Too many credit inquiries
2) Credit utilization too high
3) Length of credit history insufficient

Wait until your credit inquires are clear your credit utilization is lower. If you have significant assets you can talk with a banker, which is what I did when I applied. Good luck!
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

Lifelock member, USAA credit monitoring, Security Freezes E/E/TU, 800+

thelastroyalty
Green Member
Green Member
 
Posts: 10
Joined: Mon Nov 19, 2012 7:33 pm
Location: USA

Postby thelastroyalty » Fri Aug 30, 2013 1:22 pm

Thanks for the information and advice - I will definitely wait a month or however long it takes for my score to get back to 740 or 750 . But my question now is this: So the Fidelity investment cards actually wouldn't put me into the Amex family? I'll do some research on my own but I am pretty sure what you all know trumps what I could find with google in half an hour.

In that case I would just get the True Earnings Costco card to get the backdate, but I really want the Fidelity card cause I'm really into the idea of building my retirement (even just a little) without even having to think about it.

Robrus1
Centurion Member
Centurion Member
 
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Fri Aug 30, 2013 2:11 pm

thelastroyalty wrote: So the Fidelity investment cards actually wouldn't put me into the Amex family?


Correct. It just uses the AmEx payment processing network. Like a Chase Visa. Visa network, Chase, issuing bank.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Fri Aug 30, 2013 7:35 pm

It's a great card. Your odds are probably the same as any Bank of America card.

Glad you did well with Tesla! Maybe you can buy one now :-)

thelastroyalty
Green Member
Green Member
 
Posts: 10
Joined: Mon Nov 19, 2012 7:33 pm
Location: USA

Postby thelastroyalty » Fri Aug 30, 2013 7:51 pm

Thank you all!

Didn't make enough to buy a Tesla, I made enough for a down payment on the car though! Thing is I definitely need a house with a garage to charge it, since I am living in a 1 bedroom apartment right now lol.

thelastroyalty
Green Member
Green Member
 
Posts: 10
Joined: Mon Nov 19, 2012 7:33 pm
Location: USA

Postby thelastroyalty » Sun Sep 29, 2013 1:15 am

Hey decided to bump my old thread for a little more info. My credit score went striaght back to 730 after paying my cards (Transunion at least). I kinda want either the Costco Truearnings or BCE. Should I wait with my inquires (look at OP) or should I be fine? 60k individual about 100k joint income annualized right now. If so whats the best way to apply? Just do the online application or is their a way to call about my application right away?

Thanks,

Robrus1
Centurion Member
Centurion Member
 
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Sun Sep 29, 2013 8:28 am

thelastroyalty wrote:Hey decided to bump my old thread for a little more info. My credit score went striaght back to 730 after paying my cards (Transunion at least). I kinda want either the Costco Truearnings or BCE. Should I wait with my inquires (look at OP) or should I be fine? 60k individual about 100k joint income annualized right now. If so whats the best way to apply? Just do the online application or is their a way to call about my application right away?

Thanks,


Any idea how many of those inquiries were in the last 12 months?
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests