No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
My personal experience with Amex is that they're usually pretty hungry for new customers with no prior relationship; I got approved for a PRG and a BCP at ~670 EXP myself. In fact, I suspect they'd rather have more BCP than BCE customers, since the annual fee is a reliable revenue stream. If I was in your shoes, I'd apply today, although it doesn't wait to hurt if you absolutely wanted to be sure you don't waste a hard pull.
@Anonymouswrote:
In time for what? What's the big rush? Collection removal is something that has the potential for big gains, instead of risking denials or bucketed limit approvals, I would wait until the removal is reflected on the CRAs.
I conquer with the oldman. Wait til the removal reflects on the CRA's. Then you will most likely be approved with a better starting line. With 50% utilization with the collection gone you may get $500-$1000 starting line.
Applying for anything with utilization running over 30% is risking declines and low SL's.
Just my two cents.
I'd wait to app until that collection is off and utilization is down. You would likely be approved if you went ahead and applied, but as other posters pointed out- it could mean a potential low SL. I didn't get any amex prequalifications until I hit 670's and then I waited a little longer until my utilization came down a bit and my other accounts got a little older... still got a $500 sl on the BCE and about 8 weeks later got an SPG with a $1k limit.
If just getting in is more important than the potential higher cl, then go ahead and app. You've probably got good odds of getting the BCP.
If you are prequalified for BCE why not just App for that? Unless your income is very low I think you should be good to go with prequalify.
3 months minimum, six preferably
@Gregory1776 wrote:3 months minimum, six preferably
What I was going to say too. Even if prequalify they like 6+ months history and unless I'm reading your post wrong it doesn't look like you have anything current? I held out with Crap1 for 6+ months even though I was prequaliified. I don't think which card matters. I first qualified for Blue Cash and then after a few months they were pushing their other cards and it wasn't an prequalify option anymore but I went for it anyway. Not sure if BCP is a harder card to get in general though.
If you do have credit cards already and can knock the utilization down quickly, you could still apply before the new account shows on your reports.
I somewhat regret not going for the BCP so good choice if you come up with the prequalify by look for an offer on Credit Karma or something so they waive the yearly fee or get a bonus.
Stores like Walmart and Target or whole sale clubs like BJs don't count for the gas and grocery though. It's only 1% if the gas station is attached to a chain/grocery store like BJ's Gas. Some people get disapointed because that is where they do most of their grocery shopping.