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AMEX Blue Cash Everyday - Wait or apply now?

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dhon55
Contributor

AMEX Blue Cash Everyday - Wait or apply now?

I'm thinking about applying for my first AMEX (Blue Cash Everyday).  No history with them, but here are my stats below:

 

Current Credit Accounts, By Date Opened (current balance/credit limit):

  • 10/2012 - Wells Fargo College Visa - (0/1600)
  • 12/2012 - Capital One Student - (0/500)
  • 12/2012 - Walmart Discover (0/1950)
  • 12/2012 - GE Amazon Store (0/1400)
  • 01/2013 - Discover IT (0/1000)
  • 02/2013 - Chase Amazon Visa (25/1500)
  • 02/2013 - Citi Forward Student (62/2000)

Deferred Federal Student Loans - Approximately $28,000 (still in school)

 

Avg. Age of Accounts (via CreditKarma) - 1 yr, 4 mos.  Oldest revolving credit account only dates back to October 2012 (above).

 

Current Inquiries -- all within past several months, so they are recent:

  • 5 on TU
  • 3 on EQ
  • 3-4 on EX

Current Scores:

  • Official MyFICO EQ from today = 697.  Lower than I had hoped.
  • Walmart TU08's March 2013 score has me up to 721 somehow.
  • CreditKarma at 679.

 

My concern is my short credit history, perhaps the amount in deferred loans, as well as the abundance of new accounts and inquiries, and my score being too low.

 

Should I wait it out, or apply now so in the event that I am approved, the account age will be older than if I had waited?  Just not too confident about applying and don't want to waste another pull.

 

Thanks!


Goal Scores: 720+ (Experian Lender Pull 09/13): 733; Discover TU (01/14): 751; Walmart TU08 (02/14): 754;
WF Platinum (10/12) $1,600; WM Discover (12/12) $5,500; Amazon GE (12/12) $2,500; CapOne Quicksilver (12/12) $750; Discover IT (01/13) $1,000; Chase Amazon (02/13) $2,500; Citi Forward Student (02/13) $2,000; AMEX BCE (09/13) $15,000
Message 1 of 14
13 REPLIES 13
09Lexie
Moderator Emerita

Re: AMEX Blue Cash Everyday - Wait or apply now?

Your scores, inq's and util are all good but your short history might be a problem. Amex has been a little weird lately but IMO a charge card first, then a revolver or wait until your credit is 1 yr.

Edit: plus all your cc is less than 6 mos old
Message 2 of 14
CollegeStudent530
Regular Contributor

Re: AMEX Blue Cash Everyday - Wait or apply now?

Apply if.. you want! I am waiting in the garden until Dec 2013, or maybe early 2014 to apply for an AMEX card! My AAoA is 1yr2months.

 

Nice wallet of cards by the way!

Message 3 of 14
SpecFile
Valued Contributor

Re: AMEX Blue Cash Everyday - Wait or apply now?


@09Lexie wrote:
Your scores, inq's and util are all good but your short history might be a problem. Amex has been a little weird lately but IMO a charge card first, then a revolver or wait until your credit is 1 yr.

Edit: plus all your cc is less than 6 mos old
+1
Message 4 of 14
dhon55
Contributor

Re: AMEX Blue Cash Everyday - Wait or apply now?

Thanks all -- I'll consider applying in Oct. 2013 when my oldest credigt account is 12 months.


Goal Scores: 720+ (Experian Lender Pull 09/13): 733; Discover TU (01/14): 751; Walmart TU08 (02/14): 754;
WF Platinum (10/12) $1,600; WM Discover (12/12) $5,500; Amazon GE (12/12) $2,500; CapOne Quicksilver (12/12) $750; Discover IT (01/13) $1,000; Chase Amazon (02/13) $2,500; Citi Forward Student (02/13) $2,000; AMEX BCE (09/13) $15,000
Message 5 of 14
Revelate
Moderator Emeritus

Re: AMEX Blue Cash Everyday - Wait or apply now?


@dhon55 wrote:

Thanks all -- I'll consider applying in Oct. 2013 when my oldest credigt account is 12 months.


Longer term it won't matter whether you get the card now or in October; I think that's a good plan.

 




        
Message 6 of 14
HiLine
Blogger

Re: AMEX Blue Cash Everyday - Wait or apply now?

I would wait for 6 months like others suggested, but skip the charge cards or any other cards that you don't want. Good luck on BCE in October! Cat Wink

Message 7 of 14
SteveCi
Established Member

Re: AMEX Blue Cash Everyday - Wait or apply now?

Totally go for it! Amex has actually been pretty nice to everyone this month. Even allowing automatic approvals to some. 

 

My very first two credit cards were both amex, PRG and BCE, opened this month. 12k income. 

 

Just apply!

FICO (04/14): 752 1) Too many inquiries 2)Student loan

Message 8 of 14
JaeJae12
Frequent Contributor

Re: AMEX Blue Cash Everyday - Wait or apply now?

Apply! I was approved instantly with 1.5yrs oldest account and I only had one 1 boa CC 12k income as well, full time student

BCE- 50 k-BOA 123 100k -Freedom unlimited-95k- Citi DC- 200k-CSR 175k
Garden mode



Message 9 of 14
dhon55
Contributor

Re: AMEX Blue Cash Everyday - Wait or apply now?

Thanks for the responses, everyone.

 

Since my oldest credit card account is only 6 months, I probably should wait until I have 1 year history.  My older accounts are just student loans.  My credit/revolving history is still very short.


Goal Scores: 720+ (Experian Lender Pull 09/13): 733; Discover TU (01/14): 751; Walmart TU08 (02/14): 754;
WF Platinum (10/12) $1,600; WM Discover (12/12) $5,500; Amazon GE (12/12) $2,500; CapOne Quicksilver (12/12) $750; Discover IT (01/13) $1,000; Chase Amazon (02/13) $2,500; Citi Forward Student (02/13) $2,000; AMEX BCE (09/13) $15,000
Message 10 of 14
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