american express "selected status"??

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This topic contains 10 replies, has 2 voices, and was last updated by  Anonymous 7 years, 10 months ago.



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  • #209860

    Anonymous

    i received an offer in the mail from amex for a green card and it says that i have already been “selected”. is this a guaranteed approval. i really dont want to waste an inquiry if its not an automatic approval. i really dont need the card but i wouldnt mind adding it to my collection. so what do yall think?



  • #323385

    Anonymous

    Doesn’t matter its all b/s anyway

  • #444529

    Anonymous

    Doesn’t matter its all b/s anyway

  • #323386

    Anonymous

    They could have the exact same rating, or the lower income person could have a better one…there is no way to tell. It isn’t only based on income, but on debt. If you make $ 20000 and have no outstanding credit cards, own your used car outright, pay your bills on time….vs someone making $ 100,000 with a huge mortgage, lots of credit cards that are maxed out, a hefty car loan, slow on paying bills…then the lesser income person will have a better rating.

  • #444530

    Anonymous

    They could have the exact same rating, or the lower income person could have a better one…there is no way to tell. It isn’t only based on income, but on debt. If you make $ 20000 and have no outstanding credit cards, own your used car outright, pay your bills on time….vs someone making $ 100,000 with a huge mortgage, lots of credit cards that are maxed out, a hefty car loan, slow on paying bills…then the lesser income person will have a better rating.

  • #323387

    Anonymous

    Credit score isn’t based on income. It’s based on how you manage your credit. Someone making $ 20K could have an 800 FICO score because they are very good at managing finances and credit. While someone making $ 100K could have a 400 FICO due to lack of credit history or poor financial management.

    Your theory has no basis. It’s like saying the more expensive the car, the better the gas milage. Price has nothing to do with milage.

  • #444531

    Anonymous

    Credit score isn’t based on income. It’s based on how you manage your credit. Someone making $ 20K could have an 800 FICO score because they are very good at managing finances and credit. While someone making $ 100K could have a 400 FICO due to lack of credit history or poor financial management.

    Your theory has no basis. It’s like saying the more expensive the car, the better the gas milage. Price has nothing to do with milage.

  • #323388

    Anonymous

    Credit card companies do not know how much you make.
    I usually tell them a low income, so I will get a lower credit limit.

    Your credit card limit is based on the salary you tell them. The higher the salary, the higher the income. Most (if not all) high income people pay their credit cards in full each month. So their scores are higher because of this. They should never spend more than 30% of their available credit / month. This gives them top rating.

    A poor person would max out cards – therefore reducing credit score.
    /

  • #444532

    Anonymous

    Credit card companies do not know how much you make.
    I usually tell them a low income, so I will get a lower credit limit.

    Your credit card limit is based on the salary you tell them. The higher the salary, the higher the income. Most (if not all) high income people pay their credit cards in full each month. So their scores are higher because of this. They should never spend more than 30% of their available credit / month. This gives them top rating.

    A poor person would max out cards – therefore reducing credit score.
    /

  • #323389

    Anonymous

    A lot of people with high incomes tend to live above their means and get into more debt trying to keep up with the Jones’.

    I listen to Dave Ramsey’s show. What strikes me – is most of the people that call in to say how much debt they have paid off have incomes of over 70K. They also have more debt.

    When I earned 18K a year, I had a lot less debt than I do now…and I make a lot more now. But back then…I also did not have a cell phone, internet, cable, my car was older, I ate out less. Since I made so little – I could pinch a penny so tight it would make Lincoln squeal. No that I don’t have to pinch pennies…I don’t.

    With an increase in income tends to come an increase in spending.

    Your credit score is based on how well you handle your manage your finances. I don’t think there is much of a correlation between income and credit score.

    You can learn more about what makes up your credit score at http://www.myfico.com

  • #444533

    Anonymous

    A lot of people with high incomes tend to live above their means and get into more debt trying to keep up with the Jones’.

    I listen to Dave Ramsey’s show. What strikes me – is most of the people that call in to say how much debt they have paid off have incomes of over 70K. They also have more debt.

    When I earned 18K a year, I had a lot less debt than I do now…and I make a lot more now. But back then…I also did not have a cell phone, internet, cable, my car was older, I ate out less. Since I made so little – I could pinch a penny so tight it would make Lincoln squeal. No that I don’t have to pinch pennies…I don’t.

    With an increase in income tends to come an increase in spending.

    Your credit score is based on how well you handle your manage your finances. I don’t think there is much of a correlation between income and credit score.

    You can learn more about what makes up your credit score at http://www.myfico.com

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