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App Success CSP and Amex BCP (with imperfect credit history)

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FICO_Fighter
Valued Member

App Success CSP and Amex BCP (with imperfect credit history)

I have been contemplating as to whether or not I should pull the trigger on Chase Sapphire Preferred and Amex Blue Cash Preferred cards since my credit is far from perfect.  Today I decided to pull the trigger and app anyways. Here is a little history run down:

 

Bank CC - $6000 (was $4k til 2 months ago) 1% util

WF Auto Loan $7700 balance on-time

Student Loans $40k on-time

 

Negatives: Les Schwab Collection from 2007

1FBUSA: Default Settled for less than full defaulted 2007 paid in 2010

CapOne: Default paid in full defaulted in 2007 paid in 2010

Verizon shows as collection, but was Verizon's fault when changing a phone # in 2007 (long story) - Paid in full 2010

Macy's - couple 30 day lates and a 60 day late - closed at my request in 2008

 

MyFico info:

EQ 695 before app'ing (I question this accuracy)

Util 1%

Income $70k

Time in job 3 years

AAoA 5 years

 

The Meat and Potatoes:

App'd for CSP first, instant approval $5k limit and left quite shocked that I was instantly approved. Next, I app'd for BCP and received the this app is pending further review message.  Searched around for the online verification link, punched in my infor and APPROVED. I'm ecstatic about my approvals.  From here I recon'd my chase app for CLI and it came up pending, got transferred over to a credit specialist and after being on hold for about 5 min got cli to $7500 which was my requested amount. I called in to find out my credit limit on the BCP and was informed it was approved with $2500 and I can cli it after 61 days, which I will do down the road.  All in all, I'm ecstatic, but I can't believe I achieved this with a 695 score. Anybody care to chime in on this with their thoughts?

EQ: 835 (8/1/16)
Exp: ??? (8/1/16)
TU: 840 (8/1/16)
Message 1 of 13
12 REPLIES 12
09Lexie
Moderator Emerita

Re: App Success CSP and Amex BCP (with imperfect credit history)

Congrats! Those are 2 cards on my list. It's not always about FICO- it's the package - low util, good income, and your baddies were 3+yrs ago.
Message 2 of 13
lg8302ch
Senior Contributor

Re: App Success CSP and Amex BCP (with imperfect credit history)

Congrats! CSP is also on my wishlist Smiley Happy
Message 3 of 13
BungalowMo
Senior Contributor

Re: App Success CSP and Amex BCP (with imperfect credit history)

That's great news!!!  Congrats!  I just did a PC to the AMEX BCP...nicer cash back!

 

While you're waiting for the 61 days to pass...(I'd personally give it a few extra)  Read the 3X CLI guide!!

http://ficoforums.myfico.com/t5/Credit-Cards/The-Definitive-Amex-3X-CLI-Guide-Discussion-Thread/td-p...

BK 7 discharge 06.24.2020 No Fico score at all. Smiley Sad
Message 4 of 13
dddfresh
Frequent Contributor

Re: App Success CSP and Amex BCP (with imperfect credit history)

Did you have a lot of inquires or new accounts?

9/2013: Fico EQ 676, EXP 686, Fico TU 686.
NFCU Flagship Sig. $14k..NFCU CashRwdsSig $14k..NFCU LOC $12.5k..USAA Amex 4k..AMEX Green NPSL..Discover IT $1.5k...BofA Cash Rewards123 $2.5k...Southwest Premier $2k..Chase Freedom $1.5k..CareCredit $3.5k..Cap1-$1.5k..HSBC $300...Lowes $1.5k...WalMart $1.5k...JCP $1k..Chevron $1.1k..Kays/Jerrod - $5k split. around 8% Util. Want to get in the 700's in 2013! Have three old paid charge offs. 15-20inq.. LAST APP 8/29/13
Message 5 of 13
myjourney
Super Contributor

Re: App Success CSP and Amex BCP (with imperfect credit history)

Both of those are in my sights great job and very nice cards BRAVO

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 6 of 13
Epcot
Valued Contributor

Re: App Success CSP and Amex BCP (with imperfect credit history)

Nicely done, Congrats on the approvals! Smiley Happy

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 849 EX 835 TU 841
Message 7 of 13
icanimprove
Established Member

Re: App Success CSP and Amex BCP (with imperfect credit history)

Wow! Nice job congrats!
Message 8 of 13
JRS123
Established Member

Re: App Success CSP and Amex BCP (with imperfect credit history)

+1

MyFico - TU- Hawk Alert Smiley Sad MyFico EFX 726.
Amex Blue cash 15K; Bofa Cash rewards 20K; Bofa Travelrewards 10K; 2/13 myFico 709
Target Score 760-800
Gardening since Jan'13 hopefully till Jan '14
Message 9 of 13
FICO_Fighter
Valued Member

Re: App Success CSP and Amex BCP (with imperfect credit history)

First off, thank you all for the support, I'm super excited to be on track repairing the credit damage I did a few years back, I was young and working odd jobs that were never steady reliable sources of income.  I've since wrapped up my bachelor's and have a solid job with decent income. The factors I feel I had going for me before pulling the trigger include:

 

  • 0 inquiries showing in EQ according to myfico, although I have 1 inquiry from my WF auto loan that is at about the 16 month mark
  • 1 CC above $5,000 threshold (albeit only for a couple months) with low utilization,
  • Excellent debt to income ratio
  • I've ran $22k+ through my one CC last year
  • No New Accts
  • Only 1 CC at time of app

I also read somewhere on here its better to just app and know than sit there wondering. Since I had no recent inquiries I figured what the heck, I wasn't going to app for the BCP b/c of what I've read about AMEX being picky with people who have had rough patches in their credit history, especially a collection and multiple CC defaults, but after I got approved for the CSP I decided to go for it.  This is a huge confidence booster and I will continue work towards that 750 mark across the board on my credit score.

 

Again I appreciate all the people/info on this board, and to answer the question about new accounts, my most recent account is my 16 month old auto loan and that is also my most recent inquiry until today.  Its a 60 month loan and should have it paid off around the 24 month mark.

EQ: 835 (8/1/16)
Exp: ??? (8/1/16)
TU: 840 (8/1/16)
Message 10 of 13
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