AMEX Blue Approval Odds

[scmz]

Just wanted to reply and say that I was APPROVED for the BCP with the following:

-Discover paid off

-747 Experian FICO

Feeling good, I decided to ask Discover to raise my limit--and they did.  First, they countered with only a $750 increase, but I managed to get 2.5x my current limit after speaking to an analyst.

Thanks everyone!

[09Lexie]

Congrats x2!

[youngandcreditwrthy]

Congrats!! What limit did you get?!? I started with a paltry $3500 and grew it to $24500 in 8 months, plus opened a Delta Gold with a $5500 cl. :-) I'm 24, so it can be done!
Remember: Amex likes high payment to balance ratio,ie try to pif!

[myjourney]

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@scmz wrote:

Just wanted to reply and say that I was APPROVED for the BCP with the following:

-Discover paid off

-747 Experian FICO

Feeling good, I decided to ask Discover to raise my limit--and they did.  First, they countered with only a $750 increase, but I managed to get 2.5x my current limit after speaking to an analyst.

Thanks everyone!

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Congarts 

Glad it worked out for you 

[scmz]

Stingy limit at 2500 but I'm optimistic about CLI. One question I had is regarding new accounts. I would obviously like to try for they 61 day CLI, but am wondering whether adding a new account just after opening my AMEX will lower my likelihood. I took a hard pull for AMEX and the discover CLI, and would finally like to open a dinning card--but am scared AMEX won't like seeing a new account alongside theirs?? Any experience with that?

[youngandcreditwrthy]

Haha for better or worse, yes.
I opened Discover on the exact same day as Amex, then in February- four months later, I opened a Citi Diamond Preferred. After I got my BCE cl to $24,500 in June, I opened an Amex Delta Gold w 5500 cl - then this past July I opened a mypoints.com Visa, and more recently I opened a BankAmericard.
You might be good to open one or two other accounts, but given the way Amex credit lines grow, you only need to hold off app'ing for maybe 6 months. I had up to 10 inqs on each report, but I'm down to about 5 per report now.
What other cards were you considering? Amex has just really been the least hasslesome to do biz with. They've grown the best as far as cl, and I've had no petty issues with them- unlike Barclay's or Citi, or even US Bank -whomI dont even have a card with. Lol
I think Amex is one of the only issuers that doesn't view have multiple cards with them as risky; they want your business and don't seem to penalize you for it.

[youngandcreditwrthy]

Freedom/Discover IT are good for dining wen the 5% cash rolls around.
I wish Amex had a card that did this. They should add 5% cash to a Blue variety.

[TheConductor]

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@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

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

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First, congrats on your new card!!

Second, a similar situation to the one above happened to me.  BoA had to replace a stolen card for me and they reported it as a new account without the proper age on it.

Since it was one of my oldest accounts, I called them up and requested that they correct the reporting to the CRAs to reflect the true age of my account.

Took a good 60 days, but eventually they did it.  So check your reports and see what they are reporting as the opening date of your "new" account.  You should be able to get them to backdate it correctly if it is not right currently.

[takeshi74]

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@scmz wrote:

Best guesses on whether I should perhaps wait until the discover shows as being paid off? 

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If you want the best possible odds, yes.  If you think it doesn't matter then go ahead before it reports.  I'd always suggest the former when apping.

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@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.

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Did they actually close the account? Are you sure they didn't change the tier (Platinum to World, Platinum to Signature, etc)?

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@scmz wrote:
Stingy limit at 2500 but I'm optimistic about CLI. One question I had is regarding new accounts. I would obviously like to try for they 61 day CLI, but am wondering whether adding a new account just after opening my AMEX will lower my likelihood. I took a hard pull for AMEX and the discover CLI, and would finally like to open a dinning card--but am scared AMEX won't like seeing a new account alongside theirs?? Any experience with that?

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It really depends on your credit.  I think I got my CSP after getting my BCP but before the 61 day CLI and had no issues.  Not sure if any of my other new cards fell into that timeframe.  YMMV.  If you want the best possible odds for the CLI then play it safe and app after the CLI.  Your call to make.

[tinuviel]

Congrats on the BCP approval and the Discover CLI!