No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hello all! I have been in the garden for a bit after recovering from a short sale in 2010 and spending my time since lowering my Utilization on my current accounts. The only negatives I have ever had were (2) 30 day lates prior to my short sale and the CO from the short sale itself. I have no other negatives I am interested in a cash back card either the Amex BCE/BCP or the Chase Freedom. The bulk of my expenditures are groceries, gas, and restaurants/dining. My current profile is as follows:
BoA Cash rewards: 1,500 bal/ 8,500 limit
Chase SLATE: 2,500 bal/ 8,000 limit
Capital One Cash Rewards Platinum: 0 bal/ 2,500 limit
GECRB Luxury: 0 bal/ 3,500 limit
Student Loans: Currently in deferment 189,000
AAoA: 11 years
CK Score: 711 CS Score: 717
Only 1 hard inquiry in last 2 years about to be removed
What historically is easier to obtain Freedom or BCP/BCE?
I am more attracted to the Amex due to 60 day 3xCLI. Do I increase my chances at the Amex revolver by first going for PRG (which I really don't need) and then immediately apping for the BCE/BCP or do I just go straight for the revolver?
Thanks
@Marcos8 wrote:Hello all! I have been in the garden for a bit after recovering from a short sale in 2010 and spending my time since lowering my Utilization on my current accounts. The only negatives I have ever had were (2) 30 day lates prior to my short sale and the CO from the short sale itself. I have no other negatives I am interested in a cash back card either the Amex BCE/BCP or the Chase Freedom. The bulk of my expenditures are groceries, gas, and restaurants/dining. My current profile is as follows:
BoA Cash rewards: 1,500 bal/ 8,500 limit
Chase SLATE: 2,500 bal/ 8,000 limit
Capital One Cash Rewards Platinum: 0 bal/ 2,500 limit
GECRB Luxury: 0 bal/ 3,500 limit
Student Loans: Currently in deferment 189,000
AAoA: 11 years
CK Score: 711 CS Score: 717
Only 1 hard inquiry in last 2 years about to be removed
What historically is easier to obtain Freedom or BCP/BCE?
I am more attracted to the Amex due to 60 day 3xCLI. Do I increase my chances at the Amex revolver by first going for PRG (which I really don't need) and then immediately apping for the BCE/BCP or do I just go straight for the revolver?
Thanks
Chase Freedom is easier. Since you already have the slate, I say you have a good change. Unless, your internal limit with chase is at 8k.
Is your Slate on 0% apr? If so, I would BT the 1.5k from BoA. It looks better to just have balance on one card to the creditor/lender. It doen't matter if you are PIF anyway.
As for Amex, I would go for PRG, then when January '14 hits, go for revolving for the backdating. If you maintain it well, you can have 35k CL pay over time added to your charge card. However, the interest is high at 18.99%
Are my other numbers ok or is my util still way off?
I would app for the Freedom mainly since AMEX risk assesment seems to use some sort of linear regression type of model to assess risk, meaning the short sale and the late payments would easly skew your "points" too far from what is considered ideal for that card. Think of a slightly angled line, the line being ideal defined by AMEX for a particular card and all your score data (essentially, data form your credit report) being dots which get plotted around that line. Closer to that line, better chance of approval, farther away, the chances diminish. This type of assement makes it very difficult for someone wtth any blemish to be approved for BCP. My advice, if you really want BCP, apply for the Amex Delta Gold and after a month call in and do a product change to the BCP. Amex Delta Gold is within your reach.