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Posts: 7,225
Registered: ‎09-16-2011
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Re: Blue Cash Preferred from AMEX, should I apply?

Discover also does personal loans. With as much cc debt as you are carrying you may look at doing a personal loan or 401k loan to knock it out in a short period of time and hopefully don't load yourself up again on your utilization...

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Posts: 7,225
Registered: ‎09-16-2011
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Re: Blue Cash Preferred from AMEX, should I apply?

What are your current cards; balances; and CLs?
Maybe we can offer suggestions based on your specific lineup.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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


Supercollector16 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??

 

AmEx Platinum | AmEx BCP | AmEx Delta Gold | CSP | Chase Freedom | NFCU cashRewards Visa Sig | NFCU Plat MC | WM MC | Discover it | JCP


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


adavis425 wrote:

Supercollector16 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.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Registered: ‎11-11-2010
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Re: Blue Cash Preferred from AMEX, should I apply?


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.

 

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (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)
Regular Contributor
Posts: 132
Registered: ‎11-14-2011
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Re: Blue Cash Preferred from AMEX, should I apply?

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

 

 

 


Starting Score: 653 (11/1/2011 TransUnion)
Current Score: 719 (5/3/2012 TransUnion) 572 (3/21/2012 Equifax) 762 (4/14/12 VantageScore)
Goal Score: 700


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Registered: ‎08-19-2012
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Re: Blue Cash Preferred from AMEX, should I apply?


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

 

 

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
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Posts: 12,503
Registered: ‎12-30-2011
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Re: Blue Cash Preferred from AMEX, should I apply?

[ Edited ]

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.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Posts: 367
Registered: ‎06-02-2008
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Re: Blue Cash Preferred from AMEX, should I apply?

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. 


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
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Homeowner since 05/29/13
New Member
Posts: 13
Registered: ‎10-13-2012
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Re: Blue Cash Preferred from AMEX, should I apply?

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?

 

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
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