Credit newbie thinking about Blue Cash Preferred [Update: Pending further review, and approved]

[IndianaJoshua]

Update on July 13:

I applied and it told me that the app was pending further review.

I called them. They asked me a few personal details and told me that they would call me back to verify my phone number.

And I received their phone call. They asked me for my address. And then it was approved. 4000 CL.

To help those in a similar situation let me post my info for other people's reference:

When I applied I had

Cap 1, got in June 2012

Discover, got in Aug 2012

Barclay, got in May 2013

And I have three inquiries. One in the past 365 days. Others 1-2 years.

Utilization 2%.

Thank you for all who gave their advice.

----------ORIGINAL POSTING--------

I'm considering applying for a blue cash preferred card some time this year. Can you give me some advice?
My credit history is kind of new. I got my first credit card in June last year, the second card in August last year, and the most recent one in May. My AAOA is 8 months.
I have two inquiries on file with experian. No baddies whatsoever.
What chances do you think I have to get approved for a BCP?

[CarbonCard]

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@IndianaJoshua wrote:
I'm considering applying for a blue cash preferred card some time this year. Can you give me some advice?
My credit history is kind of new. I got my first credit card in June last year, the second card in August last year, and the most recent one in May. My AAOA is 8 months.
I have two inquiries on file with experian. No baddies whatsoever.
What chances do you think I have to get approved for a BCP?

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AFAIK, BCE/BCP is one of the hardest cards to get, especially that you're new to CCs. What's your FICO, and what cards do you have so far?

[Dubious]

It's not as hard to get as people make it out to be, IMO.

You should pull your EX score from this site. It's the same one AmEx will use.

[jenn_bar]

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@Dubious wrote:

It's not as hard to get as people make it out to be, IMO.

You should pull your EX score from this site. It's the same one AmEx will use.

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This is totally true. I got my BCP with 6 months of credit history (1 CC-Freedom), no baddies, and a credit score of 724 (as provided by AMEX). Low credit limit of $2k, but in 30 days that will hopefully change!

[NewtoCredit80]

Jenn_bar, how did you got the starter limit on Chase card at 5000? Chase generally gives small limit of 500 initially to credit newbie's.

[IndianaJoshua]

Thanks for than.

I just got my last credit card at the end of May, so I guess that might be problematic when they read my credit history (though no inquiry was put on Experian for that).

[NewtoCredit80]

Well I in a similar position as you. Just that I got my cards through recon. I would suggest that you wait till November and then apply. Amex will allow member since date from 2013 for all the future cards you apply with them. Apply for all other Amex cards in the first month of the year. I am a AU on a Amex card which is being reported to my credit report. I plan to apply for Amex in Jan 14 to get member since date on new card as Jan 2013.
Patience is the key to build credit otherwise you would get small limits. I recently applied for a Discover card and got a limit of 1000. I should have waited till year end which would have gotten me higher starting limit.
I got my secured card from PNC in Dec12, unsecured from Chase (1500 - started at 500) in April13, CapOne (1000) in May13, Citi (2000) in May13 and now Discover (1000).
You should try to get cli on your cards through SP.

[IndianaJoshua]

Thanks for the disclosure.

I'm waiting for a CLI request result from Cap 1. 

As for patience, you are greatly encouraging me to wait, which I appreciate very much. I guess I need to focus elsewhere in my life and apply in November.

Again thank you.

[IndianaJoshua]

I don't understand why it's a good idea to apply subsequent AMEX cards in the first month. Can you tell me?

[NewtoCredit80]

If you get approved for a Amex this year in nov. then let us assume you want to apply for another Amex card in Jan 2015. That card will have member since date jan 2013. This will help your Aaoa.