Q)Hi doc, I’m trying to get approved for my first credit card to build credit,  can can i build my credit fast? Is there any trick?



A)For starters with out any credit the best way to build your credit score  is by being added to someone Else’s credit card as a authorized user.

 You do not need any credit for that because the main card holder is liable to for the debt , the history of the credit card works to build your credit just the same as if it is your own credit card so this is definitely a great way to start.

However it works both ways so if the main card holder makes a late Payment it or keeps high balances it will have a negative impact on your score and will be bad history for you on your credit report.

If you can’t get someone that’s willing to add you to there card you can get a secured cc the way it works is you give the bank a deposit for say example 300 and then you have a credit limit up to 300 until you build up your credit






A)The TOP 2 FACTORS that make up your fico score are #1 making on time monthly payments of at least your minimum due, even one late payment can be a big hit to your score
But another less popular almost as important factor is #2 your usage of credit ratio if you carry high balances it will hurt your score
As a rule of thumb try to keep your credit usage under 30% of the total credit card limit



Q) Does American Express keep their own “Black List” and is there a way to get off that black list?



A)Yes they do have a black list although American express never explicitly said so …based on many reports it’s believed that they have a blacklist …
in regards to how to get off there blacklist first be sure that’s why your being denied credit .. check your credit score and find out the average needed score for that card … another easy way to know is by checking your credit report after applying for a cc with American Express and look for a inquiry from
A/E if you see a inquiry than your not on there blacklist as if so. . they wouldn’t pull a credit report as they would just automatically reject you.
A suggested way to get off there blacklist is to become a authorized user on someone else’s A/E cc to get back in there system 
however you have a outstanding debt with them it may not help ,
Let me know if this works I would like to hear your feedback thanks.



Q) I accidentally made a few late payments does American Express keep their own “Black List?



A)On time payments makes up 35% of your credit score and therefore had a great impact on your credit score it takes 7 years for a late payment to be removed from your credit report .

However the longer ago the late payment occurred, the less it will affect lending decisions.

So, if you miss a payment, the most important thing to do is to bring the payments current and then continue to make all payments on time going forward.

The missed payment could have a significant negative impact on your credit scores initially, but that impact will diminish over time.

But there are other factors that make up your credit score and if you strengthen in those areas you can build up your score significantly, despite your late payments.  Here are 2 examples

  1. Try to keep to the rule I said before to keep your balance under 30% of the full line of credit as your credit usage ratio is the next ranking factor that makes up your score it makes up 30% of your score ..
  2. Another great and EASY WAY to build your credit score is by having a credit card with a long credit history on your credit report

Many people could have had a credit history of 20 years worth but they keep opening and closing there credit cards so they lose all there history from that cc ….

Why do I say this is easy because if you sign on to

someone else’s credit card as a authorized user you will get his entire credit history!!! As if you had a credit card for the 10 that he did so if you can find someone who had a credit card for 10 years ask him if you can sign on to his card … (however make sure it’s someone who makes on time payments etc.. because his card can affect you for the negative also just like it was your card).

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