Approved for Green!

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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otter
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Location: Grand Forks, ND

Approved for Green!

Postby otter » Sun Oct 27, 2013 9:45 am

After many, many attempts with AMEX over the years... I have finally been approved for the green card. I was beginning to think the rumors of the dreaded AMEX "blacklist" were true(I had a green card in the early 90's, but it eventually went into collections a few years later and although I paid it off, I have never been successful at getting another AMEX card until now). Luckily, they pull Experian which only had 2 inquiries and has two "erroneous" accounts(wrong but good accounts which were closed years ago, but reported paid as agreed for a couple years after closure)...

But I do have a few questions: I mainly got the Green Card because I often do a lot of travelling for my company(which I get reimbursed for later), but I also hope it helps me "get my foot in the door" with at least one of their revolvers. How long should I wait before I apply for a revolving account?. I am interested in the Blue Preferred and the SPG cards. My current account history is below(not very long and I've heard you need 2 years history with AMEX revolvers).

How easy it to get the green card changed to the gold card? I've heard all the charge cards are equally easy to obtain(credit score wise at least, income is a consideration I've heard). Should I wait to do a PC from Green to Gold? Is there any real difference between what is offered between Green and Gold? Not really interested in Platinum card right now.

My final question is how does the card work for credit scoring? I know there is no preset spending limit, but there is a preset spending limit. For utilization purposes, what shows as your "limit." would it be the high balance?
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450


whit
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Location: ca

Postby whit » Sun Oct 27, 2013 11:16 am

you've obviously been really good with your credit, congratulations otter.

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Terry
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Postby Terry » Sun Oct 27, 2013 11:36 am

Congratulations and welcome back to the AMEX family.


I would suggest that you use the green card regularly and pay in full a few days before statement closing so that a zero balance reports each month for a minimum of six months before applying for the Blue Cash card or any revolver. If you are considering upgrading from the green to the PRG, AMEX will require that you wait until month 13 before a PC is allowed. The FICO model does not factor charge cards in the Utilization formula so that card will not have a negative affect on your credit. Lastly, AMEX charge cards do have an internal spending limit that changes with your spending pattern. If you are going to make a large purchase, I would suggest that you just call them before hand to make sure that the charge will be approved.
AMEX Green Card - NPSL [Member Since 1995] ;)
AMEX Everyday Card ($25,000) 6/14 Backdated to 1995 - For 20% Extra Points Benefit
Chase Freedom Visa Signature ($17,000) - For 5% rotating categories
Citi ThankYou Preferred Visa Signature ($16,000) - 2% dining
Discover IT Humane Society Design ($16,500) - For 5% rotating categories
Firestone ($2,600) - For 0% financing
Home Depot ($10,000) - For 0% financing
JCPenney Credit Card ($7,000) - For special discounts
Sam's Club MasterCard - ($20,000) - 5% off gas at any fuel pump
Wells Fargo Personal Line of Credit - ($15,000)

FICO's - 767 EX, 778 EQ, 790 TU [02/2015]

catsartcox
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Location: New Mexico

Postby catsartcox » Sun Oct 27, 2013 11:39 am

Congrats.

1. I waited 90 days in between getting both Amex cards I have(PRG and Blue). I would use the green for everything, if you can pay it all off in that month(helps in getting the sign up bonus points). If you want to get a Blue card or an SPG ASAP. Because they will care more about how you handled their own card before the look at anything else.
2. You can upgrade to another card(Gold, PRG, Platinum) in one year. I am sure that you are perfect with your green in the next year, you can get anything you want from them.
3. It will be a little painful for the first few months. It will report your High balance as your Credit line. So, in the first few months it would also be helpful to you to charge most everything to it that you can pay off. So you push the celling to be as high as you can get it. So in the future you won't be hurting your score.

Example of utilization:
So if you spend 1000 the first month it will be 1000/1000
Second month only 600$ so 600/1000
Third month a little higher 1400/1400
Forth month not that much 350/1400

Get it?


Edit: I guess some models don't care about charge cards and some do. Best to play it safe though.
Wells Fargo w/ Points - 6.2k
Discover More - 10k
Citi Forward - 3.7k
Citi Thank You Preferred - 18.5k
AMEX Blue - 16.4k
AMEX PRG- NPSL
Barclay Juniper card/Apple - 9k
GE Capital Amazon Store Card 5k

score
722(7/13) 732(8/13) 734(9/13) 743(2/14) 763(07/14) 798(3/15) 749(4/16)

Robrus1
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Location: Texas

Postby Robrus1 » Mon Oct 28, 2013 8:19 am

Congratulations, Otter!
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

MemberSince99
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Location: WI

Postby MemberSince99 » Mon Oct 28, 2013 9:42 am

I don't think you have to wait if you don't want to. The revolvers have different underwriting criteria for approval, but if you are declined now it's only a soft pull and not a hard. So you have nothing to lose by seeing where you stand essentially.

My experience having also burned them a while back and gotten back in is that they don't care if you have multiple cards with them if they feel your income/assets support that. So don't be afraid to go for a revolver. I applied for Gold in May then went for BCP in June and BSP in July - all were approved.

That's the good news. The bad news is they remember the charge off and my 61 day CLIs on both revolvers were declined, specifically because of those charge offs.

You paid yours so they might not hold that against you. (I never paid mine and now they seem leery of even suggesting it after the lawsuit about that last year). So you may well get yours it's always YMMV but since you paid them, and you are in, you are probably fine.

So if you want to, go for it I say.

DavidNY
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Postby DavidNY » Mon Oct 28, 2013 12:25 pm

MemberSince99 wrote:the lawsuit about that last year


Which lawsuit are you referring to?

MemberSince99
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Location: WI

Postby MemberSince99 » Mon Oct 28, 2013 12:31 pm

In October of last year David, Amex agreed to pay a lot of money for violations in their collection practices, such as telling people that paying old charged off accounts would improve their credit among other things. It wasn't that they tried to get the money - it was the way they went about it from what I read. They had to agree in the future not to do these things. So they might be a bit skittish right now.

If you google "amex settles collection lawsuit" the top article that comes up talks about it.

And the second article caught my eye I read the whole thing and found it quite entertaining. Wanted to post a link for those interested in a guy who got sued by Amex: http://mentalpod.com/archives/2429

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otter
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Postby otter » Tue Oct 29, 2013 5:22 pm

Thanks everyone for your good advice!!!
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450



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