Reply
Regular Contributor
Chris679
Posts: 225
Registered: ‎03-09-2010

AMEX Blue Cash: Approval????

I really want this card but I'm worried about being approved and was wondering if anyone has any ideas.  My Equifax FICO is 701 currently, but should go up a little before I would be applying due to my last collection being deleted.  I'll list the other things that I think may work for or against me:

 

PROS

45k per year income and my only debt is $8300 left on my car

4 accounts in good standing with little to no balance on any of them, no late payments

Only 2 inquiries on EX report

 

CONS

Old CapOne account that was settled for less than full balance in 08, closed

All current accounts are only 1.5-2 years old

10 inquiries on TU report (only 2 in past year)

 

I am wondering if I'll be OK to apply now or should I wait until July when 8 of my TU inquiries will drop off.  I think my plan will be to wait for FICO to hit my target of 720 and just bite the bullet.  Any advice would be appreciated.

 

Chris

 

Senior Contributor
score_building
Posts: 3,513
Registered: ‎01-10-2008

Re: AMEX Blue Cash: Approval????

The relatively recent 'settled for less' acct may be even more problematic for amex than the inqs.  YMMV.

 

 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008

Re: AMEX Blue Cash: Approval????

You won't get approved.   That one derog is enough for AMEX to say no.  I had one derog and got declined.  The next month, I applied again,  after  I got the derog deleted and got approved for $2000.  Got a CLI 3 months later to $2600.

Valued Contributor
tray
Posts: 1,366
Registered: ‎01-29-2008

Re: AMEX Blue Cash: Approval????

Have you tried the pre-selected card site first, to see if any offers are available.  I think that last derog will probable hurt you also especially too since you want a non-charge card.  Have you thought about seeing if you would be able to at least get a charge card just to get your foot in the door and then you could build a relationship with AMEX for better cards down the road.


Starting Score: EQ 546 TU 566
Current Score: EQ 693TU 08 729 EX 08 738Need to Garden/New Accounts
Goal Score: 800
Valued Contributor
mjbfan79
Posts: 1,998
Registered: ‎03-31-2008

Re: AMEX Blue Cash: Approval????

I would try there pre approval link first before i apply. It's just a soft.

 

https://www201.americanexpress.com/secure/my-special-offers


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Regular Contributor
BP2003
Posts: 139
Registered: ‎05-19-2008

Re: AMEX Blue Cash: Approval????


DI wrote:

You won't get approved.   That one derog is enough for AMEX to say no.  I had one derog and got declined.  The next month, I applied again,  after  I got the derog deleted and got approved for $2000.  Got a CLI 3 months later to $2600.


 

As the great Lee Corso would say, "not so fast".  I was approved for a $3000 AMEX Blue Cash 2 months ago with similar scores.  Approx. 720 EX and high 600s on TU & EQ (which are irrelevant since AMEX typically pulls EX) I also had about a 35% total UTIL.  On my EX report, I had one 30 day late on a Cap1 2.5 years ago and two 30 day lates on an Orchard just over 2.5 years ago. 

 

I got an instant approval...not really sure why I applied in the first place.  I guess I just wanted that high from the anticipation of the response after hitting the "submit" button on the CC app.  To my surprise though, instant approval.  One other factor, I have had an AMEX Gold card since October 2009 (which I ran a few hundred dollars on every month and paid off days after the balance reported every time)

***From ashy to classy***
Valued Contributor
mjbfan79
Posts: 1,998
Registered: ‎03-31-2008

Re: AMEX Blue Cash: Approval????


BP2003 wrote:

As the great Lee Corso would say, "not so fast".  I was approved for a $3000 AMEX Blue Cash 2 months ago with similar scores.  Approx. 720 EX and high 600s on TU & EQ (which are irrelevant since AMEX typically pulls EX) I also had about a 35% total UTIL.  On my EX report, I had one 30 day late on a Cap1 2.5 years ago and two 30 day lates on an Orchard just over 2.5 years ago. 

 

I got an instant approval...not really sure why I applied in the first place.  I guess I just wanted that high from the anticipation of the response after hitting the "submit" button on the CC app.  To my surprise though, instant approval.  One other factor, I have had an AMEX Gold card since October 2009 (which I ran a few hundred dollars on every month and paid off days after the balance reported every time)


I had like 30 inquiries on my EX report when they approved me for the Amex Gold this past week. I know there tight but hey there might be a chance of approval.


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: AMEX Blue Cash: Approval????

Just realize that American Express doesn't use FICO scores. They have their own home-grown scoring algorithm, and they go by your reports, especially Experian. (Sometimes they pull EQ and/or TU as well.)

 

Get your reports as clean as possible before applying with American Express.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
jahmal
Posts: 181
Registered: ‎08-13-2008

Re: AMEX Blue Cash: Approval????

October 2008.. Applied for Delta Skymiles credit card from American Express..  file pulled, EX, Fico score if I remember it right.. High 680's, Derog on report.. 3 judgments  4-5 yrs unpaid. 2 chargoffs 5-6 year. Income, 43K

 

Outcome: Approved 8K highest TL at the time.

 

I found it shocking I was approved


Starting Score: 8/2008 521
Current Score: 734
Highest Ever: 4/2009 759
Goal Score: 760+

Take the FICO Fitness Challenge
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: AMEX Blue Cash: Approval????

 


jahmal wrote:

October 2008.. Applied for Delta Skymiles credit card from American Express..  file pulled, EX, Fico score if I remember it right.. High 680's, Derog on report.. 3 judgments  4-5 yrs unpaid. 2 chargoffs 5-6 year. Income, 43K

 

Outcome: Approved 8K highest TL at the time.

 

I found it shocking I was approved


 

October 2008? Try that again now. I dare ya.:smileyvery-happy:

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+