Way to AMEX Gold EUR card

DenABac

Hi guys,

if I've used the search function correctly there is no related thread so far. First of all, this forum is very helpful.

I moved to the UK in march this year and this is my first time living here in the UK. Due to business travel I have to go back to countries in the EEA. For such business trips I'd love to have an AMEX Gold EUR card - which seems to become a hard way without a proper credit history here. Reason being no FX charges and the nice insurances on the card. I also watched out for airline (MDBA Lufthansa card) and cards with other benefits turns out the Amex would suit me best.

Upon my arrival HSBC approved me for a normal credit card with a 1,5k limit as well as for a 1,5k overdraft (unnecessary but nice). By the way, I'm perfectly fine with HSBC in general and want to stay with them. I applied for a AMEX and they turned me down.

My Experian file say my FICO is very poor (probably due to utilization of around 60%). I got myself a credit builder card from Aqua. There is also a sim only contract with EE. That is pretty much what is on my credit file.

The question now is, how to get to this AMEX. My plany for the next weeks is to, close down the Aqua account, so I get a properly settled account on my file and bring down the utilization to 25-30%. As far a I understood that's what I can do to improve the file.
Then I would apply for a non benefits card with Amex and keep it for six months, so I can apply for the EUR Gold one.

Would it be easier to get approved for a green or a blue one, if that makes any difference?
Is AMEX likely to approve people with a short history at all?

Since I'm not familiar with AMEX and the UK credit customs I'd love to get your tips here. If somebody knows a card with better insurance and no FX fee I'll be more then happy to have a look.

Thank you in advance and enjoy your bank holiday weekend
Den

bigadaj

Credit file in the uk is primarily about demonstrating utilisation of credit responsibly without default over a period of time.

It's the last point you'll struggle on, you'll need to allow your file to build up over time, repeated applications for credit will make you look desperate and harm your file, so I'd wait at least six months before applying again.

Aqua do a cashback card with no foreign loading which is one of the best options for those with a poor or limited credit history, I wouldn't get too fixated on one particular supplier/ issue or product.

Edit - I'm not so sure about insurances the uk options for this mainly focus on leisure and holiday cover, won't your employer cover insurance for work and business trips?

concernedSaver

I enquired about an Amex Euro charge card earlier this year, and that's what I found:

- You can apply for a Euro card once you get at least six months of history with American Express. This is a completely new application, not a conversion or supplementary card;
- There is no real difference between blue / gold / platinum euro charge cards, just the annual fee and perks / rewards included. They're equally hard / easy to get;
- You can only repay the cards with a Euro currency account. This was the deal breaker for me, if I had a Euro account to spare surely I would have applied for a foreign euro card and live with it.

jonesMUFCforever

Only got as far as beginning of second paragragh - omly been in uk since March - no hope whatsoever of getting the card he wants.

DenABac

Hi guys,

Thank you very much for your replay.

Yes I would of cause wait, so won't have a recent search on file by the time of my application.

My employer covers some medical insurances for us. They also insure the worst scenarios .
It happens way to often that my plain is late or gets cancelled (I normally take the last plain of the day) so I should have a travel inconvenience insurance. The AMEX also comes with membership rewards which is very attractive and there is also no FX fee.
To cover this I would at least need two or three cards.

@concernedS I didn’t read that the card needs to be settled in EUR (I hold a muli currency account). Is this part of the pre application dialog?

Anyway. The only way I see is apply for a non-benefit card with them and use my internal history maybe 6 or 12 months later to upgrade.

What do you think, are they likely to approve me for a non-benefit card?


Many thanks

[Deleted User]

DenABac wrote: »

My plany for the next weeks is to, close down the Aqua account, so I get a properly settled account on my file

Definitely don't do that after only having had it a few months.

The 'settled accounts' issue doesn't apply to credit cards. You should be clearing it in full each month.

SLZ

DenABac wrote: »

Would it be easier to get approved for a green or a blue one, if that makes any difference?
Is AMEX likely to approve people with a short history at all?

If you're applying for the UK AMEX then you'll have no chance however if you're applying here for the Euro AMEX, you'll be asked to provide banking statements and payslips for the last 6 months proving that you earn at least 50.000€ and you cannot be a US resident but you'll get the card based on that, not credit scores. It's old school banking.

DenABac

Hi guys,

So it seems that neither my salary nor my record itself should be a problem.
If I try to get a normal (blue/green) AMEX first to build a according internal rating with them over moths.
@SLZ, that is the point: You can only apply if you have had a normal AMEX for at least 6 months.

Would AMEX be so strict to approve a blue card for somebody how is does not have a five to ten years history? Did anybody here who has a short history recently apply for a normal UK AMEX?

Regards

Anthorn

DenABac wrote: »

Is AMEX likely to approve people with a short history at all?

Since I'm not familiar with AMEX and the UK credit customs I'd love to get your tips here. If somebody knows a card with better insurance and no FX fee I'll be more then happy to have a look.

Thank you in advance and enjoy your bank holiday weekend
Den

In my own personal experience, you need what is becoming known as a Prime Credit History: Not even so much as a late payment over the last 6 years and certainly no defaults. One or more CCJs is likely to give them the wobblers. But things are changing and the credit history appears to be taking precedence over the former £20,000 annual income requirement. My own personal advice is, if in doubt apply.

concernedSaver

Would AMEX be so strict to approve a blue card for somebody how is does not have a five to ten years history? Did anybody here who has a short history recently apply for a normal UK AMEX?

Blue/Green/Gold/Platinum are charge cards, and they all share the same criteria as per lending criteria (since they effectively open the same kind of credit line – i.e. that you're supposed to always pay in full each month). The only difference is the yearly fee and the perks.

I did apply and got accepted for an Amex charge card with a limited (as in < 3y) but spotless history in the UK.

SLZ

DenABac wrote: »

@SLZ, that is the point: You can only apply if you have had a normal AMEX for at least 6 months.

What are you on about? You don't need to hold a standard AMEX at any point before applying for a EUR AMEX, it doesn't run off the same credit checking as a UK card as they manually check your history through your banks both here in the UK (due to your residency) and back in your home country.

Have you actually spoken to them?