AMEX BCE Declined...

[Anonymous]

Wow I'm quite surpised that you got approved for the PR Gold and not BCE. I would think the Gold has a lot higher requirements with its hefty AF and all the perks. OP, did they tell you what that "risk" assessment is all about?

[Revelate]

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@Anonymous wrote:

Wow I'm quite surpised that you got approved for the PR Gold and not BCE. I would think the Gold has a lot higher requirements with its hefty AF and all the perks. OP, did they tell you what that "risk" assessment is all about?

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Pretty much every Amex revolver is more challenging to get than virtually any of their charge cards that are available at least to the vast majority of us mere mortals.

Revolvers extend credit for a period of time longer than the charge cards (must be paid off every month), and as a result their exposure as a lender is higher to default and all sorts of other shenanigans.  As a result, their credit score, and other underwriting requirements, are definitely tougher on their credit cards.

[jamesdwi]

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@ccb2115 wrote:

It's 30 days to reapply or they will cancel it, but most people recommend that you wait 60 days. 

I think its recommended that you wait 6 months before you apply for an entirely different card after you were just approved for one. 

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I think you also have to look if AMEX has other cards it thinks you would be a good match, I had AMEX recomendation for  either the ZYNC, Green or BLUE, I appliced  for BLUE in December and got the card, 6k CL,  my first AMEX card, In January checked the recomended card list for me and found they were still recomending the ZYNC so I applied and was instantly approved. I don't have stellar credit, EQ is 645 via myfico, and 712 TU via walmart. UTL was at 25%  But good enough to get 2 cards, and a full 1 year back dating...  

So two approvals in less than 30 days is not impossible, but two approvals for higher end cards if you don't have 750+ scores may be a bit more difficult. I also think that order of approval could be a factor as well, if you get the revolver first, and then apply for ZYNC a charge card it could be easier, since its only a little more risk to get a charge card they are allready have given you several thousands of credit that you juist have to make a small minimum payment on to keep them happy. The ZYNC minimum, is tied to your income and spending habbit, it may start out at a $1000 or less CL and they will know in 30-60 days if you get in troble with it I have allready charged about $400 (cell phone bill plus dinner out with the family) on my ZYNC and made a payment of $350 which hit before the charges are final so my Balance is $ -350.

[Open123]

All things being equal, it's much easier to get a any of Amex's charge cards (excluding the Black, of course) than it is to be approved for their revolvers.  

I think there's a couple of reasons for this.  The first is that risk exposure is less with the charge card, especially initially.  The NPSL means until Amex has an idea what you can spend and pay, they can at their discretion deny a charge requesting payment in full before allowing further charges, unlike a credit card where they're obligated to allow charging up to whatever designated credit limit assigned.  Also, with a charge card, everything is PIF at the end of the month.  It basically never allows a person to overspend distorting reality such as a high limit credit card.

Secondly, Amex's flasgship is and always will be the charge card.  If they had their choice, all their cardmembers will use charge cards since it personifies their spend-centric model.  Fees and from cardholders and merchants is Amex's bread and butter.  The majority of big Amex spenders will always prefer charge cards since the NPSL will always be higher than most set credit limits they offer.  There are many Amex charge NPSL north of 50k per month, whereas a credit card requires extensive financials once the limit exceeds 25k.

[Anonymous]

Those are good points, thanks for taking the time to share. But I heard that they are starting to allow "pay over time" on their charge cards. Is that only for people with really good credit history or anyone with a charge card?

[Open123]

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@Anonymous wrote:

Those are good points, thanks for taking the time to share. But I heard that they are starting to allow "pay over time" on their charge cards. Is that only for people with really good credit history or anyone with a charge card?

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In my view, I think the "extended pay over time" option on charge cards are fine when used as intended by Amex, which is to say sparingly on travel related expenses paid off in 5 or 6 months.  

However, if the goal is to "buy" stuff and have the flexibility to pay over time with variable amounts, then their credit cards are more appropriate, since they were designed for that kind of spending.  Also, you'll notice their credit cards tend to have lower aprs often with 0% for 12 month promos.

I always PIF with the charge, but use their credit card if I want to finance something, like that really expensive 75 inch LED super TV I've been eyeing!

[dalebb]

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@Open123 wrote:

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@Anonymous wrote:

Those are good points, thanks for taking the time to share. But I heard that they are starting to allow "pay over time" on their charge cards. Is that only for people with really good credit history or anyone with a charge card?

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In my view, I think the "extended pay over time" option on charge cards are fine when used as intended by Amex, which is to say sparingly on travel related expenses paid off in 5 or 6 months.  

However, if the goal is to "buy" stuff and have the flexibility to pay over time with variable amounts, then their credit cards are more appropriate, since they were designed for that kind of spending.  Also, you'll notice their credit cards tend to have lower aprs often with 0% for 12 month promos.

I always PIF with the charge, but use their credit card if I want to finance something, like that really expensive 75 inch LED super TV I've been eyeing!

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im going to need a 76" if my eyes get any worse