Blue Cash Everyday Card $150 signon bonus!!!

Anonymous · ‎03-23-2017

Yesterday I got a preapproval for American Express for the Blue Cash Everyday card, and they are offering a $150 signon bonus for spending $500 in 3 months (!!!!) My gut tells me that this signon bonus is good. However, how is American Express on approvals? I've heard that they use their own scoring system and it uses Experian data. (My FICO 8 on Experian is 759). But, I have 3 recent inquiries on Experian and 3 new accounts. Also, I've heard that American Express only allows you to get one signon bonus IN YOUR LIFE. Bear in mind, that it will probably 6-10 years before my income / lifestyle reaches a level that I could even take advantage of a higher-reward (and/or annual fee as a result) credit card.

So, would you pull the trigger if you were me? Thoughts? Information?

SecretAzure · ‎03-23-2017

@Anonymous wrote:
Yesterday I got a preapproval for American Express for the Blue Cash Everyday card, and they are offering a $150 signon bonus for spending $500 in 3 months (!!!!) My gut tells me that this signon bonus is good. However, how is American Express on approvals? I've heard that they use their own scoring system and it uses Experian data. (My FICO 8 on Experian is 759). But, I have 3 recent inquiries on Experian and 3 new accounts. Also, I've heard that American Express only allows you to get one signon bonus IN YOUR LIFE. Bear in mind, that it will probably 6-10 years before my income / lifestyle reaches a level that I could even take advantage of a higher-reward (and/or annual fee as a result) credit card.

So, would you pull the trigger if you were me? Thoughts? Information?

You have 3 new accounts? Your scores still support new lines of credit but you have 3 new accounts. You could get an Amex approval...but you could also only get $1K approval...and while Amex cards grow very fast it will be kind of a waste to get that card with such a low limit. I suggest sitting on your cards for at least a year. What is your AAOA? Income? Etc...all of these things factor into your chances of approval and starting limit.

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MC

Must garden until 2/1/2022 to hit my goal AAOA.

AverageJoesCredit · ‎03-23-2017

I think its a bonus per card for life, not one bonus for all of amex. Sorry if this is not what you stated. With your scores i think youd get easily approved. Whether youd get a 1k limit is anyones guess but if you wanted to wait for a better offer no problems in doing so

Anonymous · ‎03-23-2017

@AverageJoesCredit wrote:
I think its a bonus per card for life, not one bonus for all of amex. Sorry if this is not what you stated. With your scores i think youd get easily approved. Whether youd get a 1k limit is anyones guess but if you wanted to wait for a better offer no problems in doing so

AJC is correct about the bonuses. It is not one bonus from AMEX for life, it is one bonus per card for life. Meaning, you can't take this BCE $150 offer, close down the account, then years in the future reapply for BCE and take advantage of whatever offer they are offering for the card then. Many cards allow you to reapply and get bonuses again on card you closed down >2 years ago, AMEX is lifetime.

Anonymous · ‎03-23-2017

Thanks for the info, everyone! I realize now what I was really looking for was the information about whether or not I could get any other AmEx bonuses. I'm cool with not getting another bonus for the Blue Cash Everyday. I mean, $150 for $500 in spending and I have 3 months to do it...?! please.

So, patience isn't my forte.

I pulled the trigger 10 minutes ago and got a $10,000 SCL. !!!!!!!!!!!!!!!!!!!!!!!!!

SecretAzure · ‎03-23-2017

@Anonymous wrote:
Thanks for the info, everyone! I realize now what I was really looking for was the information about whether or not I could get any other AmEx bonuses. I'm cool with not getting another bonus for the Blue Cash Everyday. I mean, $150 for $500 in spending and I have 3 months to do it...?! please.

So, patience isn't my forte.

I pulled the trigger 10 minutes ago and got a $10,000 SCL. !!!!!!!!!!!!!!!!!!!!!!!!!

Congrats! You must have a really decent income and or a very well established credit history.

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MC

Must garden until 2/1/2022 to hit my goal AAOA.

AllCredit · ‎03-23-2017

Congrats on getting the BCE with an awesome SL!

Anonymous · ‎03-23-2017

Congrats! That's a great SL. You can easily get that to $25k after after 61 days.

In regards to the bonus, I agree. $150 back after $500 is essentially like having 30% off your first $500 of spend (assuming you only buy things you'd usually buy anyways)!

Anonymous · ‎03-23-2017

Congrats, good job

Anonymous · ‎03-23-2017

@Anonymous wrote:
Congrats! That's a great SL. You can easily get that to $25k after after 61 days.

In regards to the bonus, I agree. $150 back after $500 is essentially like having 30% off your first $500 of spend (assuming you only buy things you'd usually buy anyways)!

That's my next question...what's AmEx like for credit limit increases (amount, timing, when to ask, soft/hard pull, etc.)? Anyone with experience here?