Amex BCP, what are the chances it will be gone in a year?

[Anonymous]

I have had good luck with new card approvals and score increases recently. I am happy with my current selection, but I wouldn't mind a BCP for the 6% rewards. I am leery of adding another hit on my reports and adding more new credit as I am planning to apply for a mortgage in 9-10 months. However, I am also concerned that this card may not be around in a year or more. (it may be better or worse, who knows?)

1) Am I being silly and should just be happy with what I have?

2) At what point will adding more hits and/or more lines effect my chances at a mortgage?

Since I will be gardening until the end of the year, I am not sure if these new cards will still be considered "new" or not.

I read that they tend to pull EX which is at 702 and has fewer inquiries than my TU. (7 vs 10) Also, 3 of those are 2 years old as of March. I only have 4 as of this year. The others are in between.

[FinStar]

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@Anonymous wrote:

I have had good luck with new card approvals and score increases recently. I am happy with my current selection, but I wouldn't mind a BCP for the 6% rewards. I am leery of adding another hit on my reports and adding more new credit as I am planning to apply for a mortgage in 9-10 months. However, I am also concerned that this card may not be around in a year or more. (it may be better or worse, who knows?)   Granted, the CC environment can be very fluid, what makes you think the BCP would be gone in a year?

1) Am I being silly and should just be happy with what I have? Yes + you already have some very decent cards in your line up.  You can check to see if you are eligible for SP CLIs on some of your cards, like Capital One or Discover, for example.

2) At what point will adding more hits and/or more lines effect my chances at a mortgage? To avoid any issues, you should refrain from any other applications at least 12 months before applying for a mortgage.

Since I will be gardening until the end of the year, I am not sure if these new cards will still be considered "new" or not.

I read that they tend to pull EX which is at 702 and has fewer inquiries than my TU. (7 vs 10) Also, 3 of those are 2 years old as of March. I only have 4 as of this year. The others are in between.

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[Anonymous]

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@FinStar wrote:

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@Anonymous wrote:

I have had good luck with new card approvals and score increases recently. I am happy with my current selection, but I wouldn't mind a BCP for the 6% rewards. I am leery of adding another hit on my reports and adding more new credit as I am planning to apply for a mortgage in 9-10 months. However, I am also concerned that this card may not be around in a year or more. (it may be better or worse, who knows?)   Granted, the CC environment can be very fluid, what makes you think the BCP would be gone in a year?

1) Am I being silly and should just be happy with what I have? Yes + you already have some very decent cards in your line up.  You can check to see if you are eligible for SP CLIs on some of your cards, like Capital One or Discover, for example.

2) At what point will adding more hits and/or more lines effect my chances at a mortgage? To avoid any issues, you should refrain from any other applications at least 12 months before applying for a mortgage.

Since I will be gardening until the end of the year, I am not sure if these new cards will still be considered "new" or not.

I read that they tend to pull EX which is at 702 and has fewer inquiries than my TU. (7 vs 10) Also, 3 of those are 2 years old as of March. I only have 4 as of this year. The others are in between.

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Thanks. I think I just need someone to tell me "NO!"

I am not sure why I am concerned. I am new to credit cards for the most part and didn't know how often they change their offerings. In all likelyhood, I am just dealing with an app-spree hangover.

edit: and to be more accurate, I plan to meet with a mortgage broker in 9-10 months and see where I am at. At that point, I can decide whether it's worth waiting another few months or go for it.

[FinStar]

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@Anonymous wrote:

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@FinStar wrote:

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@Anonymous wrote:

I have had good luck with new card approvals and score increases recently. I am happy with my current selection, but I wouldn't mind a BCP for the 6% rewards. I am leery of adding another hit on my reports and adding more new credit as I am planning to apply for a mortgage in 9-10 months. However, I am also concerned that this card may not be around in a year or more. (it may be better or worse, who knows?)   Granted, the CC environment can be very fluid, what makes you think the BCP would be gone in a year?

1) Am I being silly and should just be happy with what I have? Yes + you already have some very decent cards in your line up.  You can check to see if you are eligible for SP CLIs on some of your cards, like Capital One or Discover, for example.

2) At what point will adding more hits and/or more lines effect my chances at a mortgage? To avoid any issues, you should refrain from any other applications at least 12 months before applying for a mortgage.

Since I will be gardening until the end of the year, I am not sure if these new cards will still be considered "new" or not.

I read that they tend to pull EX which is at 702 and has fewer inquiries than my TU. (7 vs 10) Also, 3 of those are 2 years old as of March. I only have 4 as of this year. The others are in between.

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Thanks. I think I just need someone to tell me "NO!"

I am not sure why I am concerned. I am new to credit cards for the most part and didn't know how often they change their offerings. In all likelyhood, I am just dealing with an app-spree hangover.

edit: and to be more accurate, I plan to meet with a mortgage broker in 9-10 months and see where I am at. At that point, I can decide whether it's worth waiting another few months or go for it.

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Valid points if you are new to credit cards.  I'm sure others will likely chime in.  While it's possible anything can change on the AmEx front given the recent flurry of lost partnerships (Costco, JetBlue), it's likely doubful they will retire the BCP, let alone BCE.  Also, the Old Blue Cash (OBC) hasn't been available to the masses for sometime but some folks can still apply for it via an obscure link and some patience.  This family of legacy cards doesn't appear to be a target for retirement IMO.  Now, nerfing, well that would be another thing.

[redpat]

Don't app if you are thinking of getting a mortgage soon.  

Wait, not the end of the world.

[Anonymous]

I also keep telling myself I should save some apps for future BT cards if I ever need one, haha. Heck, 2 of my new cards and one CLI has not even been reported yet. I need to be patient........

[Anonymous]

I agree with the others. At times you simply need to wait. Scary thought that you are looking at procurring a mortgage and a BT card. Might want to keep usage low prior to the Big purchase.

Good Luck!

[Anonymous]

Your mortgage is more important than any card. Don't worry about this one. Even if it's gone in a year, there will be another card to pick up the slack.

[Anonymous]

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@Anonymous wrote:

I agree with the others. At times you simply need to wait. Scary thought that you are looking at procurring a mortgage and a BT card. Might want to keep usage low prior to the Big purchase.

Good Luck!

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Nah, I don't carry much of a balance. (once I realized how much that can matter) With the prospect of buying my own place in the near future, I only say that as it is nice to know I can make use of it if there is ever an unforseen emergency. If I lose a heating system or septic system, it might take a few months to pay off. 

[kdm31091]

A mortgage is definitely more important than any card or rewards. I'd wait. There's not much point in worrying about the card being discontinued. Sure, it could be, but a) it's beyond anyone's control, and b) something else will come along if it is discontinued.

Stay focused on the mortgage goal.