Acceptance Chances for Amex?

Alarae

This is all just to work out if I would get a chance in succeeding in this application, bearing in mind I do realise I have yet to build up a large credit report yet.

Basically in a few months time my boyfriend and I will be moving in together, both on the tenancy, bills etc. I was just wondering as Amex consider household income instead of solely my own, would I have a chance at succeeding in getting a card? I would not be applying for at least a few months after moving to get on electoral roll and get everything transferred.

I am a student with a part-time job (18.5 hours per week) and my boyfriend is in full time employment.

Our income;

Jointly would be around £27,000 (excluding my bursary, maintenance loan and grant). My income is around £6900 per year.

I have three credit cards at the moment;

Aqua Reward - £250 limit - Opened January 2013
Capital One Cashback - £500 limit - Opened January 2013
Lloyds Student Credit Card - £1000 limit - Opened June 2012

Also;
Very Account - £900 - February 2011?

I would hope to get the Nectar Amex, with the view to close down the Capital One if I was successful in applying in the future.

Now would I have a chance in applying for this as they look at household income? When would be a good time to apply if there was a chance I could be accepted?

EDIT: Also could I include my bursary and maintenance grant in my income? As they do not have to be paid back unlike the tuition loan/maintenance loan.

EDIT 2: Just realised the Nectar Amex has a criterion of £30,000 per annum... what would my circumstances if I applied for the Everyday Platinum Cashback Amex instead (£20k criterion)?

stephane_2

You could be earning £50k and still be declined....Amex are very stringent in their lending criteria and I would say that looking at your credit history your chances of getting one will be very slim.....and to be honest there are far more better cards out there other than Amex.

Alarae

stephane wrote: »

You could be earning £50k and still be declined....Amex are very stringent in their lending criteria and I would say that looking at your credit history your chances of getting one will be very slim.....and to be honest there are far more better cards out there other than Amex.

Only reason I was inquiring about Amex was the fact they assess on household income (so could include my boyfriend's) and they have those foursquare offers.

Looks like I might have to stick with my cards for now until I graduate and have a full-time job

Dabooka

Why do you specifically want an Amex? And two cards opened in the last month any reason?

Alarae

Dabooka wrote: »

Why do you specifically want an Amex? And two cards opened in the last month any reason?

My income is quite low itself as I am only part-time while at University, so the fact Amex assess on household income means I can include my boyfriend's. There are also quite a few foursquare offers from Amex which I would be interested in utilising.

The two cards opened last month were a bit silly I have to admit as I only really need one, I first opened the Capital One then realised the Aqua Reward was much better for cashback! I pay in full every month so they were opened purely for those purposes.

However I did come to the conclusion with those two cards was that any purchase between £250-£500 can go on the Capital One but still earn me a little cashback, while everything under goes on the Aqua so I at least earn a little cashback.

Ultimately though I could have done without the extra Capital One, but I guess I get an annual £10 credit for paying on time each month so that is something.

reclusive46

You can easilly get away with putting your boyfriend's income on household income. The Charge cards tend to be easier to get than the credit cards. (I.e. The gold, green and Platinum). The Gold is free for the first year so you could get that and cancel it in 12 months and time and Amex would probably approve a credit card then as you would have had history with them.

Alarae

reclusive46 wrote: »

You can easilly get away with putting your boyfriend's income on household income. The Charge cards tend to be easier to get than the credit cards. (I.e. The gold, green and Platinum). The Gold is free for the first year so you could get that and cancel it in 12 months and time and Amex would probably approve a credit card then as you would have had history with them.

Hm, that does sound like a good route. How long do you think I should wait after moving in together (possibly April) to apply? Six months or so?

reclusive46

Alarae wrote: »

Hm, that does sound like a good route. How long do you think I should wait after moving in together (possibly April) to apply? Six months or so?

3 to 6 months would probably be a good idea and also make sure your on the electoral roll so they can verify your identity easily.

stephane_2

Alarae wrote: »

Hm, that does sound like a good route. How long do you think I should wait after moving in together (possibly April) to apply? Six months or so?

I don't believe that you have enough established credit history to be accepted for any of their cards....

ElkyElky

We can all speculate on your chances of being accepted but in reality, they are the only ones who can give you a definitive answer.

Apply for it and see what happens. You have nothing to lose, if it's a decline then it's not the end of the world - at least you'll know for sure.

reclusive46

stephane wrote: »

I don't believe that you have enough established credit history to be accepted for any of their cards....

One of my family members had only had a barclaycard for 9 months when they applied for the Gold Charge Amex card. They are much easier to get than the revolving credit products.