topic Re: Please Review my BCE Plan in Credit Cards

Please Review my BCE Plan

wealthcreator — Tue, 02 Oct 2012 23:31:30 GMT

Hello Friends,

I have started a thread couple of days back for BCE app.

http://ficoforums.myfico.com/t5/Credit-Cards/Zync-Gone-Now-What-are-chances-for-BCE-or-BCP/td-p/1616182

Now Zync is not available so changing my plan.

App for Green as I have pre-approved offer. After approval I will apply for BCE. If BCE approved then it will be only 1 HP. I will cancel Green card within year (no AF for 1st year) because I dont want to pay $95 annually.

If denied for BCE then I will apply in Jan for BCE and cancel my Green Card.

(I have pre-approved offers of Green and Gold, which will be better for future chances of BCE?)

Please share your views.

Re: Please Review my BCE Plan

LS2982 — Tue, 02 Oct 2012 23:30:47 GMT

wealthcreator wrote:
Hello Friends,

I have started a thread couple of days back for BCE app.
http://ficoforums.myfico.com/t5/Credit-Cards/Zync-Gone-Now-What-are-chances-for-BCE-or-BCP/td-p/1616182

Now Zync is not available so changing my plan.

App for Green as I have pre-approved offer. After approval I will apply for BCE. If BCE approved then it will be only 1 HP. I will cancel Green card within year (no AF for 1st year) because I dont want to pay $95 annually.
If denied for BCE then I will apply in Jan for BCE and cancel my Green Card.

Please share your views.

Sounds like a plan.

Except I would wait a year before apping for BCE again if you get denied after Green approval.

Re: Please Review my BCE Plan

wealthcreator — Tue, 02 Oct 2012 23:35:58 GMT

LS2982 wrote:
wealthcreator wrote:
Hello Friends,

I have started a thread couple of days back for BCE app.
http://ficoforums.myfico.com/t5/Credit-Cards/Zync-Gone-Now-What-are-chances-for-BCE-or-BCP/td-p/1616182

Now Zync is not available so changing my plan.

App for Green as I have pre-approved offer. After approval I will apply for BCE. If BCE approved then it will be only 1 HP. I will cancel Green card within year (no AF for 1st year) because I dont want to pay $95 annually.
If denied for BCE then I will apply in Jan for BCE and cancel my Green Card.

Please share your views.

Sounds like a plan.

Except I would wait a year before apping for BCE again if you get denied after Green approval.

I plan to keep applying for BCE after every 3 months till approval. It will be SP on denial because I will be Amex member. That is also one reason I am apping for Green before BCE. Last time I was not aware of this procedure and got denied for BCE (otherwise I should have Zync by now :-( and in hunt of BCE)

Re: Please Review my BCE Plan

youngandcreditwrthy — Tue, 02 Oct 2012 23:48:07 GMT

What is your score??
Aaoa? Util?

Inqs?

I just got Amex BCE with 696 Tu Fico. 3 years aaoa, 13% util, 30k deferred student loans....limit of $3,500 btw

Re: Please Review my BCE Plan

youngandcreditwrthy — Tue, 02 Oct 2012 23:49:31 GMT

I had like 1-3 inqs on each report in past 6 mos, about 10 inqa on each report past two years.

:-)

Re: Please Review my BCE Plan

tylaw13 — Tue, 02 Oct 2012 23:51:34 GMT

I say app for just the BCE no point in getting a card you dont want. Either way it will be only 1 HP because your only apping for 1 card. I say you have a good shot at the BCE. I just got approved for the BCE and you can see me scored below and i had under 1 year of AAoA.

Re: Please Review my BCE Plan

youngandcreditwrthy — Tue, 02 Oct 2012 23:57:46 GMT

Yeah... The BCE is my first real Amex... Just go straight for it, I could never bring myself to app for an Amex charge card I didnt want... Lol

Re: Please Review my BCE Plan

youngandcreditwrthy — Wed, 03 Oct 2012 00:00:31 GMT

They hp'd me on every report last night here in Tx, so be aware of that as well. And idk my other Fico scores lol other than 696 TU

Re: Please Review my BCE Plan

tylaw13 — Wed, 03 Oct 2012 00:03:09 GMT

youngandcreditwrthy wrote:
They hp'd me on every report last night here in Tx, so be aware of that as well. And idk my other Fico scores lol other than 696 TU

Must of been borderline then. They pulled only EX for my here in SoCal and according to my auto refinance my score is a 700. Well see what my score is from AMEX because im sure i didnt get the best terms.

Re: Please Review my BCE Plan

Revelate — Wed, 03 Oct 2012 00:05:48 GMT

wealthcreator wrote:
I plan to keep applying for BCE after every 3 months till approval. It will be SP on denial because I will be Amex member. That is also one reason I am apping for Green before BCE. Last time I was not aware of this procedure and got denied for BCE (otherwise I should have Zync by now :-( and in hunt of BCE)

Anecdotally this appears to have delayed some people's getting various cards with Amex. I wouldn't chase the consistent application route such as you're doing honestly. While I don't know about a year as LS recommends, January is a reasonable bet but I wouldn't app again in April. Amex anecdotally dislikes "frivolous" applications.

Re: Please Review my BCE Plan

youngandcreditwrthy — Wed, 03 Oct 2012 00:08:27 GMT

Well... Idk about borderline... I got a $3,500 limit... Lol I was expecting min of $1,000 to be honest. However, we've seen as low as $500 on here or $1,000.... Lol

Re: Please Review my BCE Plan

tylaw13 — Wed, 03 Oct 2012 00:10:37 GMT

3500 CL maybe because of your income? Ive read alot of threads that say AMEX will pull another report if your borderline. I dont see any other reason that they would pull only 1 report for somebody and then 3 for somebody else.

Re: Please Review my BCE Plan

navigatethis12 — Wed, 03 Oct 2012 00:13:04 GMT

I think it useless to apply for a card you do not want. I got a very generous line with American Express with no prior history with them at all. I say just go for the Blue Cash Everyday if that is what you really want.

A lot of people here seem to think that you must obtain a charge card before you get a revolving credit card and that is not true at all. As long as you have a decent history you should have no problem getting the Blue Cash Everyday.

They only looked at Experian with me.

Re: Please Review my BCE Plan

tylaw13 — Wed, 03 Oct 2012 00:14:16 GMT

navigatethis12 wrote:
I think it useless to apply for a card you do not want. I got a very generous line with American Express with no prior history with them at all. I say just go for the Blue Cash Everyday if that is what you really want.

A lot of people here seem to think that you must obtain a charge card before you get a revolving credit card and that is not true at all. As long as you have a decent history you should have no problem getting the Blue Cash Everyday.

Exactly! Never get a card you dont want because your just messing up your AAoA and taking an hp for nothing. From what i read its easier to get a charge card but im sure its not THAT much easier. Go for the card you want and dont waist your time on one that you wont use.

Re: Please Review my BCE Plan

youngandcreditwrthy — Wed, 03 Oct 2012 00:19:16 GMT

Well... True dat... Income is good for my age esp considering I don't even pay rent (I work where I live) or have any other fixed expenses LOL no car payment, not even insurance; ai take the bus to class hehe... Only have my credit cards to pay :-) well, and my stupid tuition...., and I'm a sucker for a nice bottle of wine LOL!!!!! Got me there ;-)

Re: Please Review my BCE Plan

youngandcreditwrthy — Wed, 03 Oct 2012 00:21:53 GMT

IF you wanna build history with Amex, put a couple thousand in a high yield personal savings... I put $2k in there literally two weeks before I impulsively apped. I highly doubt that matters, but Amex is just simply prestigious-no denying that!:-P

Re: Please Review my BCE Plan

navigatethis12 — Wed, 03 Oct 2012 00:38:57 GMT

youngandcreditwrthy wrote:
IF you wanna build history with Amex, put a couple thousand in a high yield personal savings... I put $2k in there literally two weeks before I impulsively apped. I highly doubt that matters, but Amex is just simply prestigious-no denying that!:-P

Having money in a bank does not always guarantee a credit card. I can guarantee you though, that no bank is going to rush to extend you credit with only 2000 in an account with them. I know most people on here think American Express is the most highly desireable card, but I am just not seeing it. I really think Chase and PNC are a lot better.

Re: Please Review my BCE Plan

youngandcreditwrthy — Wed, 03 Oct 2012 00:43:56 GMT

That's exactly what I didnt say lol ... I was just suggesting to the op if he wants to build banking history with Amex, he might try that just as an enhancement for future applications... Lol
And really nothing is guaranteed so please don't be rude to me.
I agree with you that the op shouldn't just get a random card he doesn't want...

Furthermore, Amex is actually known for their strict uw'ing standards..not a secret at all lol
I got like $131 in cashback from Chase Freedom last month; I looooovveeee Chase. In fact, they are my primary bank :-):-):-):-)

Re: Please Review my BCE Plan

navigatethis12 — Wed, 03 Oct 2012 00:54:09 GMT

Sorry, I did not mean to come off as rude. I'm just saying, 2000 is really not a lot to a bank.

I guess I just got computer glitch with American Express. I was approved without much credit history at all and they gave five times the highest limit I had at that time. I earn cashback with Chase faster since I can purchase bank accounts with the Freedom, but not American Express. Their cashback is also very slow to post. PNC posts the same day the transaction does. but American Express is like two cycles.

Re: Please Review my BCE Plan

tylaw13 — Wed, 03 Oct 2012 01:15:05 GMT

navigatethis12 wrote:
Sorry, I did not mean to come off as rude. I'm just saying, 2000 is really not a lot to a bank.

I guess I just got computer glitch with American Express. I was approved without much credit history at all and they gave five times the highest limit I had at that time. I earn cashback with Chase faster since I can purchase bank accounts with the Freedom, but not American Express. Their cashback is also very slow to post. PNC posts the same day the transaction does. but American Express is like two cycles.

Any CC company is really unpredictable when it comes to approvals and CL's you could have a much better credit report and get declined when somebody else gets approved.. But AMEX is known to be the hardest company to get a CC from not saying they have the hardest cards to get but the company as a whole, if that makes sence. And about AMEX personal savings they have a high yield savings that beats just about everybody!