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New Contributor
Posts: 57
Registered: ‎01-14-2009
0

Apply for BCP now or wait?

I've been toying with the idea of applying for the AmEx BCP because of the great rewards on groceries and gas.  I'm wondering if I should pull the trigger or wait a bit?  Here's some background info:

 

-Account length: 10+ years

-AAoA: 4 years, 10mo

-All accounts are paid to 0, except 1

-Credit ultilization: 1%

-Fico scores: 720 EX, 765 TU, 788 EQ

-no baddies

-3 HPs in the last year, all TU (most recent TU was for a PL a couple months ago)

 

I also just recently closed 6 accounts, but  upped my CLs through SP CLIs which equalled out original total CL.  

Valued Contributor
Posts: 3,679
Registered: ‎11-23-2013
0

Re: Apply for BCP now or wait?


saving_grace16 wrote:

I've been toying with the idea of applying for the AmEx BCP because of the great rewards on groceries and gas.  I'm wondering if I should pull the trigger or wait a bit?  Here's some background info:

 

-Account length: 10+ years

-AAoA: 4 years, 10mo

-All accounts are paid to 0, except 1

-Credit ultilization: 1%

-Fico scores: 720 EX, 765 TU, 788 EQ

-no baddies

-3 HPs in the last year, all TU (most recent TU was for a PL a couple months ago)

 

I also just recently closed 6 accounts, but  upped my CLs through SP CLIs which equalled out original total CL.  


looks great to me

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Valued Contributor
Posts: 5,214
Registered: ‎06-05-2013
0

Re: Apply for BCP now or wait?

What do you expect to improve by waiting?

New Contributor
Posts: 57
Registered: ‎01-14-2009
0

Re: Apply for BCP now or wait?


takeshi74 wrote:

What do you expect to improve by waiting?


Not sure, exactly.  I was thinking if I waited a bit for the higher CLs to report that may help me get a higher starting CL with AmEx.  I guess that since my credit has skyrocketed in the couple months and has gone up considerably especially over the last year after paying off my CC debt, that I am more used to CC denial than I am approval.  I just want to be careful this time go around now that I feel like I finally have my credit in order. 

Valued Contributor
Posts: 1,307
Registered: ‎09-30-2013
0

Re: Apply for BCP now or wait?


saving_grace16 wrote:

takeshi74 wrote:

What do you expect to improve by waiting?


Not sure, exactly.  I was thinking if I waited a bit for the higher CLs to report that may help me get a higher starting CL with AmEx.  I guess that since my credit has skyrocketed in the couple months and has gone up considerably especially over the last year after paying off my CC debt, that I am more used to CC denial than I am approval.  I just want to be careful this time go around now that I feel like I finally have my credit in order. 


I think you will be approved without a hitch. Even if you get at least 5k, remember the opportunity for a 3xCLI at 61 days, then another 3 times after 60 months. Go for it!



Starting Score: May 2013 EQ: 577 TU: 537 EX: 555
Current Score: EQ: 600 TU: 644 EX: ??
Goal Score: ALL 720+

In the Garden Until August 2015 Last App Sept 2014
border="0"Take the myFICO Fitness Challenge
Super Contributor
Posts: 10,858
Registered: ‎04-22-2013
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Re: Apply for BCP now or wait?


newmomnewme wrote:


I think you will be approved without a hitch. Even if you get at least 5k, remember the opportunity for a 3xCLI at 61 days, then another 3 times after 60 months. Go for it!


Think you mean 6 months!   

Valued Contributor
Posts: 1,307
Registered: ‎09-30-2013
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Re: Apply for BCP now or wait?


longtimelurker wrote:

newmomnewme wrote:


I think you will be approved without a hitch. Even if you get at least 5k, remember the opportunity for a 3xCLI at 61 days, then another 3 times after 60 months. Go for it!


Think you mean 6 months!   


Hahahahahahah!!! Thanks @longtimelurker. Sorry OP, I hope I didn't scare you....LMAO @ 60 months for the next CLI. omg!!! 



Starting Score: May 2013 EQ: 577 TU: 537 EX: 555
Current Score: EQ: 600 TU: 644 EX: ??
Goal Score: ALL 720+

In the Garden Until August 2015 Last App Sept 2014
border="0"Take the myFICO Fitness Challenge
Regular Contributor
Posts: 432
Registered: ‎02-27-2014
0

Re: Apply for BCP now or wait?

Im sure AMEX will be happy to have you. let us know when you get approved.

AMEX PRG (NPSL) Lowes (10k) CSP (7.2k) AMEX BCE (6k) Cap1 QS (3.5k) Citi DC (2.6K) BofA (2.5K)M&T Bank visa (2k) Discover iT (1800) Slate (1k)
Age: 22 Scores ~710 across the board
Future Cards Sallie Mae, US Bank Cash+, Freedom
Goal increase CLs by 20k in 2015
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