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Established Contributor
snowkitty
Posts: 979
Registered: ‎09-10-2012

Approved for BCE!!! Now What??

I am so excited that I can barely type!! *lol* I was just approved for the Amex BCE for 5,500.00 My highest limit yet!! I called and applied over the phone so I could ask some questions first. The csr was very nice and I was amazed at the limit since I just opened a blue sky with them a few weeks ago and the limit on that one was 2400.00.

 

So, I now have all the big cards that I wanted to get!!! At what point should I start closing some of my smaller cards (department store)? Should I let them hit for a year first or does it not matter? None of them have fees so should I just sd them? I just don't know how it will look with so many cards open for cli's in the future. My aaoa will be taking a dive real soon on EX and TU because my oldest account is due to fall off at anytime. Then my oldest account will be Aug/2012

 

 

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 7.5k | Boa Travel 9k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 13.5k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Mega Contributor
Creditaddict
Posts: 18,566
Registered: ‎10-23-2007

Re: Approved for BCE!!! Now What??


snowkitty wrote:

I am so excited that I can barely type!! *lol* I was just approved for the Amex BCE for 5,500.00 My highest limit yet!! I called and applied over the phone so I could ask some questions first. The csr was very nice and I was amazed at the limit since I just opened a blue sky with them a few weeks ago and the limit on that one was 2400.00.

 

So, I now have all the big cards that I wanted to get!!! At what point should I start closing some of my smaller cards (department store)? Should I let them hit for a year first or does it not matter? None of them have fees so should I just sd them? I just don't know how it will look with so many cards open for cli's in the future. My aaoa will be taking a dive real soon on EX and TU because my oldest account is due to fall off at anytime. Then my oldest account will be Aug/2012

 

 


I personallly wouldn't close any of the store cards because they have no annual fee unless you never actually like the stores and don't shop at them but got the cards because they were easy while rebuilding?  GE will CLD to $124 after 6-12 months of non use but at any point you can call in and say you would like to start using the card again and they will CLI it with no issue usually.  I'm AU on a GAP card that we have had since like 2000 and I have had to get it CLI about 5 times over the years for inactivity but every time has been no issue and no credit pulls.

If anything I would actually go on a CLI spree with all your GE cards once the Amex's both show on credit... might be worth hanging on to if your Sams Discover was all of a sudden $10k no?! get a manual review done and it might not be such a stretch.

Fico Scores: EQ 639 Navy, TU 667 GE, EX 677 Prosper (06-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Established Contributor
snowkitty
Posts: 979
Registered: ‎09-10-2012

Re: Approved for BCE!!! Now What??


Creditaddict wrote:

snowkitty wrote:

I am so excited that I can barely type!! *lol* I was just approved for the Amex BCE for 5,500.00 My highest limit yet!! I called and applied over the phone so I could ask some questions first. The csr was very nice and I was amazed at the limit since I just opened a blue sky with them a few weeks ago and the limit on that one was 2400.00.

 

So, I now have all the big cards that I wanted to get!!! At what point should I start closing some of my smaller cards (department store)? Should I let them hit for a year first or does it not matter? None of them have fees so should I just sd them? I just don't know how it will look with so many cards open for cli's in the future. My aaoa will be taking a dive real soon on EX and TU because my oldest account is due to fall off at anytime. Then my oldest account will be Aug/2012

 

 


I personallly wouldn't close any of the store cards because they have no annual fee unless you never actually like the stores and don't shop at them but got the cards because they were easy while rebuilding?  GE will CLD to $124 after 6-12 months of non use but at any point you can call in and say you would like to start using the card again and they will CLI it with no issue usually.  I'm AU on a GAP card that we have had since like 2000 and I have had to get it CLI about 5 times over the years for inactivity but every time has been no issue and no credit pulls.

If anything I would actually go on a CLI spree with all your GE cards once the Amex's both show on credit... might be worth hanging on to if your Sams Discover was all of a sudden $10k no?! get a manual review done and it might not be such a stretch.


I am able to use any of the cards every 1-2 months because I did get them to rebuild but I only got them to places I shop (excpet Brylane Home). I just know I have opened several new accounts since Aug. and I have the old school way of thinking that the more accounts you have open, the worse it looks but I guess that don't matter anymore??

 

I am at a stand still with GE right now as far as CLI's because my only and oldest account fell off of TU and has set my oldest account to 5 months old. They upped my Sams Discover (which I love) but will do nothing with the others even though they all set at a 0.00 balance. The last rep told me to wait until 6 statements have hit and then they can obtain a credit score from TU and after that, they can give me a cli. I have been round and round with them for the past month. They may rethink once they see the new Amex accounts

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 7.5k | Boa Travel 9k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 13.5k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Valued Contributor
ryanbush
Posts: 1,293
Registered: ‎08-19-2012

Re: Approved for BCE!!! Now What??


snowkitty wrote:

Creditaddict wrote:

snowkitty wrote:

I am so excited that I can barely type!! *lol* I was just approved for the Amex BCE for 5,500.00 My highest limit yet!! I called and applied over the phone so I could ask some questions first. The csr was very nice and I was amazed at the limit since I just opened a blue sky with them a few weeks ago and the limit on that one was 2400.00.

 

So, I now have all the big cards that I wanted to get!!! At what point should I start closing some of my smaller cards (department store)? Should I let them hit for a year first or does it not matter? None of them have fees so should I just sd them? I just don't know how it will look with so many cards open for cli's in the future. My aaoa will be taking a dive real soon on EX and TU because my oldest account is due to fall off at anytime. Then my oldest account will be Aug/2012

 

 


I personallly wouldn't close any of the store cards because they have no annual fee unless you never actually like the stores and don't shop at them but got the cards because they were easy while rebuilding?  GE will CLD to $124 after 6-12 months of non use but at any point you can call in and say you would like to start using the card again and they will CLI it with no issue usually.  I'm AU on a GAP card that we have had since like 2000 and I have had to get it CLI about 5 times over the years for inactivity but every time has been no issue and no credit pulls.

If anything I would actually go on a CLI spree with all your GE cards once the Amex's both show on credit... might be worth hanging on to if your Sams Discover was all of a sudden $10k no?! get a manual review done and it might not be such a stretch.


I am able to use any of the cards every 1-2 months because I did get them to rebuild but I only got them to places I shop (excpet Brylane Home). I just know I have opened several new accounts since Aug. and I have the old school way of thinking that the more accounts you have open, the worse it looks but I guess that don't matter anymore??

 

I am at a stand still with GE right now as far as CLI's because my only and oldest account fell off of TU and has set my oldest account to 5 months old. They upped my Sams Discover (which I love) but will do nothing with the others even though they all set at a 0.00 balance. The last rep told me to wait until 6 statements have hit and then they can obtain a credit score from TU and after that, they can give me a cli. I have been round and round with them for the past month. They may rethink once they see the new Amex accounts


Call the back door number, it's a SP and you get to talk directly to the underwriter

 

I called on one of my ge accounts after 3 months, and then after 5 and went from 1700 to 3400 to 6000

 

and my dad called on his sams club discover and it went from 1500 to 10k after only being open 4 months

 

 

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: Approved for BCE!!! Now What??

[ Edited ]

There are two views seen here.  By far the most common is "Never close any card that doesn't have an AF" (and the more extreme faction don't exclude AF either!).

The idea here is that keeping them open adds to your overall CL, which is good for Utilization, and keeps up the AAoA for ever whereas often closed accounts will fall off in ten years or so.  In other words, this lets you squeeze the maximum out of your Fico score.

 

I think after a while this doesn't make as much sense.  If you have high CL and low utilization, and a long history, that extra $500 limit from a card doesn't really do anything.  For me, it then makes sense to close stuff you aren't using, just to get the junk out of your life, and reduce possible fraud and a lender imposing an AF.

 

But you might still be nearer the first case, where you are building high CLs with quality cards.  In that case, unless it is too much hassle, probably worth keeping.

 

The anecdotal evidence where people have been told they have too much credit (when applying for mortgages) is usually the total credit line, and nothing to do with the total number of cards.  Again it's unlikely that a $500 store card is going to worry them as much as having outstanding available credit of three times household income  (and that's often OK as well!)


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