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Member
scmz
Posts: 9
Registered: ‎08-28-2013

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!

Community Leader
Valued Contributor
myjourney
Posts: 23,569
Registered: ‎02-07-2013

Re: AMEX Blue Approval Odds

[ Edited ]

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?

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it
Member
scmz
Posts: 9
Registered: ‎08-28-2013

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 :smileyhappy:

 

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

Moderator
09Lexie
Posts: 22,417
Registered: ‎09-13-2012

Re: AMEX Blue Approval Odds

Welcome to the forum. If you can wait for Discover to update your chances are better.
Community Leader
Valued Contributor
myjourney
Posts: 23,569
Registered: ‎02-07-2013

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 :smileyhappy:

 

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

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it
Mega Contributor
Creditaddict
Posts: 16,879
Registered: ‎10-23-2007

Re: AMEX Blue Approval Odds

Please tell me Blue Cash PREFERRED??

 

Yes, Apply... I say APPROVED!

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Member
scmz
Posts: 9
Registered: ‎08-28-2013

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 :smileyhappy:
Moderator
09Lexie
Posts: 22,417
Registered: ‎09-13-2012

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
Established Contributor
JonStur
Posts: 900
Registered: ‎12-25-2010

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 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Member
scmz
Posts: 9
Registered: ‎08-28-2013

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!

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