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Moderator
Revelate
Posts: 8,331
Registered: ‎12-30-2011

Re: Blue Cash Preferred from AMEX, should I apply?


trumpet-205 wrote:

Yes, when you apply another AMEX card they use most recent SP, which is typically one month late compared to your credit report at the time.


AFAIK, it can be as much as close to 2 months out of date unfortunately.  Amex SP's customers once every two months is my understanding of it, so it may well be more than  one month out of date depending how various reporting timelines break for one's individual report.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Contributor
trumpet-205
Posts: 2,177
Registered: ‎11-11-2010

Re: Blue Cash Preferred from AMEX, should I apply?

AMEX is keeping a close eye on me. I see AMEX SP me every month when I had Zync.

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012

Re: Blue Cash Preferred from AMEX, should I apply?

My util was around 50% when I applied/was approved in May of this year.  I was a member in 2006, but with no real history with them 'cause I cancelled the card after 2-3 months.

EX Fico was 701 according to them.  No negatives, decent income.

 


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Blue Cash Preferred from AMEX, should I apply?

I had 13% util when approved for BCE almost two weeks ago.

So, your util is too high, BUT..
You can:
Pay it down
AND
Request CLIs with existing credit cards...
Realize that always increasing limits for util purposes is BAD. Stay on top of your debt managemnt...
If you added $5-10k more of avail credit, you could reduce util that way :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Blue Cash Preferred from AMEX, should I apply?

My ex plus was 709.
My tu fico was 696
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Blue Cash Preferred from AMEX, should I apply?

Who does Amex sp btw ?? Like which CRA?? Just so I know to watch them watching me haha:-P
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
New Member
Supercollector16
Posts: 13
Registered: ‎10-13-2012

Re: Blue Cash Preferred from AMEX, should I apply?

I think what I am going to do is wait until around the 13th of November to apply. This way I can also pay down another $1,200 total on 2 other cards so that those will also be reported to MyFICO by that time. What I have been doing is paying off most of my balances a day before the statement generates so that once it does, I use the card to pay bills with what is left on it. This way it looks like the cards are being paid down significantly and the credit bureaus won't know until a new statement is sent to them a month later. Does this make sense?

American Express Gold Card- No preset spending limit / Capital One- $2000 CL / CareCredit- $5,000 CL / Chase Freedom- $2,000 CL /
CitiBank Mastercard- $1,200 CL / Dell Preferred- $2,000 CL / Firestone (CFNA)- $2,600 CL / Helzberg- $5,200 CL / Wal Mart- $3,000 CL
Regular Contributor
drew11
Posts: 121
Registered: ‎06-20-2012

Re: Blue Cash Preferred from AMEX, should I apply?

[ Edited ]
Why? If you just wait until January you'll add an extra 11 months to backdating and will have two more months to further pay down your balance. You shouldn't be in a rush to apply for more credit when you already have such a high utilization anyways.
06/16/13 Equifax FICO 733
06/16/13 Experian FICO 745
06/16/13 TransUnion FICO 740

PenFed Platinum: $1000 | Chase Freedom: $5500 | Discover IT: $1500 | Amex BCP $17,600 | Chase CSP: $8000 | Chase Hyatt: $5000
Moderator
Revelate
Posts: 8,331
Registered: ‎12-30-2011

Re: Blue Cash Preferred from AMEX, should I apply?

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?
Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012

Re: Blue Cash Preferred from AMEX, should I apply?

Amex has softed me on tu every month on the 28th since I got a zync in march. They have softed me on ex on the 24th of August and September. I don't know if the two softs are for my two cards, or they are just extra interested.

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.

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