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@Anonymous wrote:I am wanting to pay down a balance of around $4,000 on an account before the promotional period ends. If I don't I get charged a $1,250 interest fee. Just trying to get a great card that could also help me be able to pay off this balance in time. I figured it I have a chance of getting accepted I might as well try.
Wait. Did I miss something? That's like 31% interest. How'd that happen??
@adavis425 wrote:
@Anonymous wrote:I am wanting to pay down a balance of around $4,000 on an account before the promotional period ends. If I don't I get charged a $1,250 interest fee. Just trying to get a great card that could also help me be able to pay off this balance in time. I figured it I have a chance of getting accepted I might as well try.
Wait. Did I miss something? That's like 31% interest. How'd that happen??
Zero percent interest for 12 months turns into a huge interest charge at the end of 12 months if it isn't paid in full before time runs out.
@Revelate wrote:
Trumpet: ah good to know. The date of two months was posted here so often that I assumed it was that way for everyone; however, how long are we talking about after you got your Zync that you checked?
I know most lenders have a period of regular SP's on a new account, does that possibly transition in Amex's case to once every two months after some time?
AMEX softed me every month back when I had Zync 2011. It stopped after I closed it. Wait to see how that will turn out with BCE.
what are my odds?
720 FICO
two chargeoffs from 2008, both paid off in collections
perfect payment on three crappy cards since early 2009
$90,000 annual income
renter
AU on my dad's AmEx Gold -- about 10 months of payment history on file (all perfect)
waste of time? this is the only plastic I want (all my expenses are groceries and gas, and I pay in full every month), so I REALLY WANT IT
@hateAshbury wrote:what are my odds?
720 FICO
two chargeoffs from 2008, both paid off in collections
perfect payment on three crappy cards since early 2009
$90,000 annual income
renter
AU on my dad's AmEx Gold -- about 10 months of payment history on file (all perfect)
waste of time? this is the only plastic I want (all my expenses are groceries and gas, and I pay in full every month), so I REALLY WANT IT
Honestly i don't think you will get it... when i applied I had 6 CCs open over 5 years with 100% on time. AAoAs was over 4 years, Quite a few car loans that were all paid 100% on time (i trade every 10-14months)
1 open car loan
oldest account 11.5 years
and 4 inqs in the last year
i was denied due to a PAID collection from chase that i paid in 2005, the collection will go off my report in november and i will have a completly clean report on all 3 bureaus... i applied in august and got denied due to the CO...
also to note this was my first app with AMEX ever, after that app i added my self onto my fathers platinum business card, waited 60 days and app'd for the green charge card and was instant approved
@hateAshbury wrote:what are my odds?
720 FICO
two chargeoffs from 2008, both paid off in collections
perfect payment on three crappy cards since early 2009
$90,000 annual income
renter
AU on my dad's AmEx Gold -- about 10 months of payment history on file (all perfect)
waste of time? this is the only plastic I want (all my expenses are groceries and gas, and I pay in full every month), so I REALLY WANT IT
If you dont have anything coming up substantial in your credit future (mortgage, possibly auto loan) I'd take a shot. Paid CO's aren't an automatic denial with Amex historically. Granted their revolvers are higher than the charge cards for underwriting criteria, but we're not talking about Penfed. It does somewhat depend on what current cards you have in some cases, some bottom of the barrel cards can cause underwriting concerns (FP as an example). Your income and FICO are peachy, as is your length of positive history.
I'd probably do what the poster above did in your case, take the shot at the BCP, and if denied, just pickup a charge card in 31 days to establish some non-AU history with Amex.
Edit: if denied, Amex charge card and BOFA 1-2-3 cash rewards or similar to cover your typical gas / grocery spending, and charge card for everything incidental / extra would be my personal path.
I applied last week. Got SP'ed and reason for denial was "Too many inquries". Used a July CR with a FICO of 709. I will wait until next year to reapply for it.
Hi everyone! Just an update.
I spoke to a CSR on the phone last night and asked if it was true that since I am an AMEX card member that if I apply for the Blue Cash Preferred card, and am denied, that is would only be a soft pull. He checked with a supervisor and came back and said that any person (AMEX member or not) has their credit pulled (hard pull) for any new card of theirs.
Any comments?