Reply
Established Contributor
Posts: 582
Registered: ‎03-09-2010
0

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
Posts: 3,671
Registered: ‎01-10-2008
0

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
Posts: 5,744
Registered: ‎01-28-2008
0

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
Posts: 1,540
Registered: ‎01-29-2008
0

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
Posts: 1,998
Registered: ‎03-31-2008
0

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
Posts: 139
Registered: ‎05-19-2008
0

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
Posts: 1,998
Registered: ‎03-31-2008
0

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
Posts: 28,098
Registered: ‎04-01-2007
0

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
Posts: 181
Registered: ‎08-13-2008
0

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
Posts: 4,831
Registered: ‎04-20-2007
0

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:

 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.