rearview

First post so sorry if this is in the wrong place.

I just graduated from a top US institution and am starting a consulting job next month with a fairly high salary. I'm going to be on the road 4 nights a week and apparently most are at Starwoods hotels (everyone carries an SPG AMEX). I saw the 30K SPG offer and applied last week, and was promptly declined. I called a couple of times (even talked to a supervisor) and was given the standard 'open another card and apply again in 6-12 months'. I'd hate to lose out on a years worth of SPG points.

Given that I just graduated, I don't have much (any?) credit history. I've been an 'authorized user' on my parent's card for 7 years or so, but I hear that doesn't help my credit at all.

My weekly spend should be pretty high and given that it's 95% reimbursable my actual default risk is close to 0. I would think that I'd be a profitable customer for AMEX. My parents are happy to guarantee the credit, but AMEX tells me they don't do that.

Do I have any options?

MelesMeles

My guess is that you've been declined because of a lack of credit history. Pick up a "starter" card in your own name (ideally the low-grade Amex if possible, otherwise the generic guaranteed approval visa/MC from your bank).

Put all your spend through that card, and you should have a strong enough credit history to get the SPG in 6 months.

mia

Ask one of your parents to apply for the card, then request an additional card on that acount in your name.

There are two drawbacks:

• Important: It probably won't help you establish credit in your own name, because it will be just another account on which you are an authorized user.
  
  
• Trivial: The Starpoints will be credited to a Starwood Preferred Guest account in your parent's name. This is straightforward to work around by using your parent's address for your SPG account because Starwood permits transfers between members with the same address.

Okto

You would lose out on 50% or less of eligible SPG points. You can be an SPG member and not carry the AMEX SPG credit card. As an SPG member, you receive a minimum of 2 starpoints for every dollar spent (and charged to your room) at Starwood properties. Without the card, you won't receive the other 2 starpoints per dollar spent that cardholders receive, but it's not an "all or nothing" proposition.

rearview

Which Amex is that?

Also, if I apply for that card now is that another hard pull, or would Amex still have my data from last week (even though its for another card)?

I'd hate to have another hard pull and get declined.

hopscotch1

This goes back a decade, so the advice isn't current. But this is what I did. I would start a credit history with AMEX apply for the green card. You may want to start off with a Blue or Zync or one of the newer lower end products. From there AMEX wants to upsell you, and you will be able to work your way up the ladder very quickly in six months to a year.

I would also do a bit more research on which card you want for yourself. Figure out what your travel patterns actually are for a few months with your new firm, and then figure out which card will be the most advantageous. I know that most people prefer the SPG for the earning ratio of 1 dollar to 1.25 airline miles. Many times MR points are much easier to earn double points on gas & grocery, 3x points on airline purchases, 3x points over $xxxx spend, bonus points mall, etc.

My main advice is to start your own credit history, and then figure out which card is most advantageous to your situation.

hopscotch1

I wouldn't worry about having another hard pull in a short time frame. If you can fax your offer letter with your salary info, or if you have already started your first paycheck, and then they may guide you to the appropriate card.

dagrin

I was in an almost identical situation when I applied for this card 2 weeks ago. The only difference is that I have had credit cards but my history is still pretty short. However, I had a little problem on my credit report so it equals out.

I was also instantly declined. I called up and after exasperating the first agent, she transfered me to a supervisor. I told the truth that I spend a lot of money yearly and would like to move it to SPG Amex for the points and for the positive customer service experiences that I have heard from others. I told him some more personal stuff and basically convinced him that it would be beneficial for Amex to give me a card. After a little while longer, he acquiesced and told me that he can put it in for a manual human review. He said that the Amex website credit check is fully automated and that there is something called an Amex risk factor (or something like that) which is comprised of many components and if you do not pass, it will decline you.

This was on Thursday. He told me to call on Monday and see how its coming along. When I called, I asked to speak to a supervisor right away. I reiterated my points and asked her to check. I had to convince her also that I should get a card. She actually called the underwriter while I was on the phone and then spoke to someone else all while I was on hold.

After she was done she got back on the phone and told me my card would be in the mail the next day. They actually overnighted it and I got it on Wednesday.

My point is that unless they notated things on your account to not give you a card from your previous calls, you should be able to ask them to manually review it. Call back soon thereafter and make your case. I think this is your best chance to get the card now.

Otherwise you can follow the advice above and build your credit, and then reapply further down the road.

Good luck.

Redhead

With all the new credit regulations and the credit crunch, declines are going to stay common for a while. Since you do not have a credit history, you need to start building one. Get a classic MC/V from the bank where you have your paycheck deposited. Use it for 6 months, paying off in full every month. Then apply for the Starwood AMEX again.

Yes, you will lose out on 6 months of card points, but establishing a good credit history is important.

You will still be able to earn points for all your hotel stays (and be sure to also sign up for all the airline programs too!). You can also register your credit card with the dining program associated with the airline of your choice. I've earned almost 10k miles from dining this year alone.

SteveT

I would call and ask for a reconsideration and state your case. I would also get their address and write them as well. Tell them that you graduated from XXX University and you are employed with XXX. Also tell them you banking information as well. Remember to write the reference number and your Amex acct number on the letter. You also might mention that your parents are willing to guarantee the card and you can secure the credit line with a deposit at Amex Bank, if you are willing to do that.

FYI- I was told that an additional card holder can establish credit/credit score based on their additional card membership.

jkirsch

Just a quick note on this: The new CARD act restricts the ability of CC companies to upsell you (or more generally, change your product) within a certain timeframe - believe its 12 months. You can still apply for a separate product, but not "upgrade" and keep the same account.

worldcitizen25

I was in your situation a couple years ago.

Here's what I would recommend: Get a student credit card or something similar (eg, Bank of America Student Platinum Plus) or Chase + 1 and use it wisely for 6
months or so.

After the 6 months, you can apply for Amex - you should get approved. That's what I did, and it worked for me. Since then, I've applied for many cc's with big bonuses and I've been approved for all. Your salary will not make a difference - it's all about the history!

Good luck!

camera3

sorry for your disappointment, I was there too not that long ago.

as someone mentioned you can join SPG without the SPG credit card

https://www.starwoodhotels.com/prefe...oll/index.html

but yes, you would gain more with the AMEX SPG.

however if your parents get it for you, they can add an additional card in your name, and later transfer all the points to you.

later before you apply for your own card, I think it would be good if you have a checking and savings account, amex has savings as well, not sure if that helps in getting a card, but at least have some type of savings account and a major CC with a credit limit of at least 3-5000. AMEX is pretty conservative, so I am not sure if they going to accept the job offer, because lot of grads get laid off before they even get a chance to start their job, but I am not an expert, sure talk to them, but don't have more than 3 pulls in 3 months or so, rather try to get one card and charge and pay in full every month, plus have some savings. Maybe try BoA, they have their own AMEX which is much easier to get, or actually get their visa rewards and they will automatically replace it with an AMEX after few months.

weird, i used to get preaproved for Amex platinum all the time while in college, but I did not have any money to spend or any use for it, then my parents got me a blue and a gold and it stopped, no more offers from AMEX, even now when I got a job, but I started to get offers from CAP one. but I am staying away from them, so I would try BoA, or whatever you get in mail,

good luck