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About the 0% introductory APR on the Amex BCP I got today

Regular Contributor

Re: About the 0% introductory APR on the Amex BCP I got today

I took full advantage of this offer last year when I got my BCP. I put my sons tuition on it plus other purchases and never had an issue. I was carrying balances of 60-70% of the credit limit for most of the year. I made montly payments - sometimes just the minimum and sometimes a bit more (maybe $500 or a $1K). I had the card at $18K for about 6-8 mths before paying it off right at the end of the first year.

FICO: EQ 769, TU 762 , EX ???

Message 11 of 13
Super Contributor

Re: About the 0% introductory APR on the Amex BCP I got today

Nearly all of these "rules" are just guesses based on incomplete data, which leads to the YMMV comment on almost everything.   So, equally guessing, it's possible that carrying a balance for an extended period of time raises a flag, but this just causes Amex to look at your general situation.   If you are carrying a balance, but appear to be in fine financial shape, that's ok.   If you are a carrying balance, and it appears that you WOULD have problems paying it off, then maybe there will be AA.

 

But blanket statements like "Amex doesn't like you carrying a balance" are at best statistical based on small samples.

Message 12 of 13
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Valued Contributor

Re: About the 0% introductory APR on the Amex BCP I got today


longtimelurker wrote:

Nearly all of these "rules" are just guesses based on incomplete data, which leads to the YMMV comment on almost everything.   So, equally guessing, it's possible that carrying a balance for an extended period of time raises a flag, but this just causes Amex to look at your general situation.   If you are carrying a balance, but appear to be in fine financial shape, that's ok.   If you are a carrying balance, and it appears that you WOULD have problems paying it off, then maybe there will be AA.

 

But blanket statements like "Amex doesn't like you carrying a balance" are at best statistical based on small samples.


+1 This. Sometimes, the advice on the forum can get a little scare-mongering. Don't build up massive amounts of CC debt and not expect AA. But what's considered "massive" amount of debt will be different for each person based on their entire profile.


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 13 of 13