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AMEX Blue Approval Odds

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scmz
Member

AMEX Blue Approval Odds

Hi guys-

I have been wanting an American Express for some time, but am unsure whether now is the right time to apply for the card I'd like (Blue Cash Preferred).  Here's a bit of my credit profile:

Score: 703 FICO EQ

Credit Accounts:

BoA Credit Card $2,500 Limit/$0 Used

Discover Card $2, 750 Limit /$1118 Used** 

Hard Inquiries in last two years: 2

 

Installment Accounts:

Auto Lease 24 months

Student loans at 20k

 

Average Age of Accounts: 2 years

Oldest account: 3 years, 10 months

No Negative Items, No Missed Payments, All Accounts in Good Standing

 

**I have paid of the discover but it doesn't reflect on my report--and likely wont until September 23.

 

Best guesses on whether I should perhaps wait until the discover shows as being paid off?  Fico Simulator seems to think my score will jump to 727-776.  I also don't want a lowball limit with AMEX, to be honest.

 

Thanks!

Message 1 of 21
20 REPLIES 20
myjourney
Super Contributor

Re: AMEX Blue Approval Odds


@scmz wrote:

Hi guys-

I have been wanting an American Express for some time, but am unsure whether now is the right time to apply for the card I'd like (Blue Cash Preferred).  Here's a bit of my credit profile:

Score: 703 FICO EQ

Credit Accounts:

BoA Credit Card $2,500 Limit/$0 Used

Discover Card $2, 750 Limit /$1118 Used** 

Hard Inquiries in last two years: 2

 

Installment Accounts:

Auto Lease 24 months

Student loans at 20k

 

Average Age of Accounts: 2 years

Oldest account: 3 years, 10 months

No Negative Items, No Missed Payments, All Accounts in Good Standing

 

**I have paid of the discover but it doesn't reflect on my report--and likely wont until September 23.

 

Best guesses on whether I should perhaps wait until the discover shows as being paid off?  Fico Simulator seems to think my score will jump to 727-776.  I also don't want a lowball limit with AMEX, to be honest.

 

Thanks!


Welcome to the forum

If the Discover is paid off and CR's are updated you stand a better chance of approval but I do have questions.

How long have you had your current cards?

Do you know your EX scores as Amex will surely pull from there in most cases?

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 2 of 21
scmz
Member

Re: AMEX Blue Approval Odds

Thanks-

Have had the BoA for 3 years, but when they raised my credit limit, oddly enough they closed the account and reopened it with a new credit limit--and sent me a new card with the same number...never understood that.  The Discover I have had for a year.  I am only 21 Smiley Happy

 

Not sure of Experian scores, but have heard AMEX will likely pull them.  Can't imagine it would be much different than Equifax?

Message 3 of 21
09Lexie
Moderator Emerita

Re: AMEX Blue Approval Odds

Welcome to the forum. If you can wait for Discover to update your chances are better.
Message 4 of 21
myjourney
Super Contributor

Re: AMEX Blue Approval Odds


@scmz wrote:

Thanks-

Have had the BoA for 3 years, but when they raised my credit limit, oddly enough they closed the account and reopened it with a new credit limit--and sent me a new card with the same number...never understood that.  The Discover I have had for a year.  I am only 21 Smiley Happy

 

Not sure of Experian scores, but have heard AMEX will likely pull them.  Can't imagine it would be much different than Equifax?


Good history with cards then....Great

IMHO let CR's update and go for it I think you will be approved and I don't say that often unless CR's seem spotless with good history and scores.

Good luck

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 5 of 21
Creditaddict
Legendary Contributor

Re: AMEX Blue Approval Odds

Please tell me Blue Cash PREFERRED??

 

Yes, Apply... I say APPROVED!

Message 6 of 21
scmz
Member

Re: AMEX Blue Approval Odds

Preferred, yes. Thanks for the info--I'll wait until discover reports and then apply. Any idea what type of limit I might expect? Hard to say, I know, but rough ideas would be nice Smiley Happy
Message 7 of 21
09Lexie
Moderator Emerita

Re: AMEX Blue Approval Odds

It's hard to tell. If approved, familiarize yourself with the 3x CLI sticky. After 60 days, even a $2000 limit could be $6000
Message 8 of 21
JonStur
Established Contributor

Re: AMEX Blue Approval Odds

Income may also play a factor in your initial CL if approved. That being said, I also agree that once the PIF show your approval chances should increase...


Starting Score: TU 595 EX 600 EQ 585
Current Score: TU 820 EX 825 EQ 812
Goal Score: 800 Club (Mission Accomplished)

Amex Platinum, Amex BCP $17.5K, 5/3 Sig $10K, Capital One Quicksilver 15K, Walmart 10K, US Bank Cash+ 15K, Sam's Club 10K, Chase Freedom $6K, Discover More $15K, Chase United Club MileagePlus $33K, Costco $6K, CapOne Quicksilver One $7K, Cap One Quicksilver $5K, Amazon $3K, Barclays $12.5K, Home Depot $7.5K, AppleCard $6K
Message 9 of 21
scmz
Member

Re: AMEX Blue Approval Odds

Thanks for all of the responses, it is really helpful! My income is about $53k. The 61 day CLI is encouraging--just worried AMEX will lowball me because of my age. This card seems better than Gold, so I think I'll pull the trigger once discover reports!
Message 10 of 21
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