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Frequent Contributor
nada9188
Posts: 251
Registered: ‎11-27-2011
0

Re: Equifax fico + BCP


castlefox wrote:

Thank you for posting that CL that they decided to give you.  

 

Did you request a CL that you wanted in your appication?

 

It looks like your on a great start to getting to place to where you can close that Discover.  FYI > it will not hurt your AAoA if you close it while it is in good standing, and it should continue to show up on your credit report for at least 10 years.  


There was no spot in my application to indicate a CL request or est monthly spend. 

 

Do you really think I should close the Discover or just SD it?

Frequent Contributor
nada9188
Posts: 251
Registered: ‎11-27-2011
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Re: Equifax fico + BCP


tntexans72 wrote:

The $3K CL is a great start....considering this is your 1st Amex if I am not mistaken. Great thing is...Amex will allow you to request a CLI in 61 days at 3x your current CL and it will be a soft pull. The requested CLI is an automated system so no need to talk to anyone. Just call the # on the back of your card. If amex won't approved the 3x your current CL, they will counter with another CL they feel fit for you. Just make sure you use the card and PIF each month. GL.


Sounds good to me. It seems like with the nature of their "charge card" business they may be more generous with CLs. 

 

With my low income of 26k, do you think they will still go for a CLI in 60 days if they see responsible usage? Say I only run about 1k a month through it, will they still feel a CLI is warranted?

 

And yes, this is my first AMEX card. 

 

Thank you for all the info and support

Regular Contributor
castlefox
Posts: 227
Registered: ‎12-09-2010
0

Re: Equifax fico + BCP

If you think you might have problems juggling payments for all of those cards and not having to worry about the Discover would make your life easier I would just drop it. 

 

Or you could also just wait for 6months to apply get a different card to replace the Discover before you close it.  I wouldnt SD it just in case they close the account, b/c then the AAoA would not be helping you like you would want. 

MyFICO score- Equifax - 12.03.11 - 780 Experian 12.03.11 - 763
(FAKO Scores) EXP PLUS Score Dec 2011. 748
Advanced Risk Score 2.0 (NextGen) 793 Dec 2010
Vantage Score (2011) MAR = 771 Jun = 771 Sept= 788 Dec= 773
2012 MAR = 782 JUN=783 Dec = 789
2013 Mar-796 Jun-799 Dec- 797
Frequent Contributor
nada9188
Posts: 251
Registered: ‎11-27-2011
0

Re: Equifax fico + BCP

Its not a matter of being able to juggle payments on accounts-for me that's easy. It's a matter of feeling disrespected by discover. I will make small purchases and use it for the rotating 5% categories, until they reach their astronomical cap of $300.

The other problem I have with discover is that once I hit my year anniversary, I go back to earning .025% until I spend $3000. ,
Regular Contributor
castlefox
Posts: 227
Registered: ‎12-09-2010
0

Re: Equifax fico + BCP

Did you get your card yet?

MyFICO score- Equifax - 12.03.11 - 780 Experian 12.03.11 - 763
(FAKO Scores) EXP PLUS Score Dec 2011. 748
Advanced Risk Score 2.0 (NextGen) 793 Dec 2010
Vantage Score (2011) MAR = 771 Jun = 771 Sept= 788 Dec= 773
2012 MAR = 782 JUN=783 Dec = 789
2013 Mar-796 Jun-799 Dec- 797
Frequent Contributor
nada9188
Posts: 251
Registered: ‎11-27-2011
0

Re: Equifax fico + BCP


castlefox wrote:

Did you get your card yet?


It FINALLY showed up. Pretty cool looking card. 

 

A quick recap:

 

26K annual income-761 EX FICO-2 other credit cards, 750CL (Discover), 2200CL (WF), 1 car loan 14k balance.

 

AMEX approved me for $3000, 20.24% APR, which is the middle of the three tiers for APR's. 

 

I don't care about the APR thing because I have never carried a balance on a card in my 3 years of CC history-however my Discover and WF card are in the ballpark of 10.XX%

 

What is the best way to get this suckers limit increased to $9K after 61 days? Does my 61 days start today, since it was activated today? 

 

Does anyone know how long the complementary CR from amex goes for? Is it indefinite or just 30 days?

 

When will me AF be charged? Its not on there right now. 

 

Thank you!!!!

Regular Contributor
Gollum
Posts: 139
Registered: ‎10-09-2011
0

Re: Equifax fico + BCP

[ Edited ]
nada9188,
This is in reply to your Message 36 in this thread.

After reading your Message 1 in this thread, apparently your Equifax FICO score was 738 before you got your American Express Blue Cash Preferred (AmEx BCP) card.  If that was a FICO score, you probably still have a very good FICO score after receiving your AmEx BCP card.
You wrote that you don't care about your APR for your cards because you have never carried a balance on a card.  OK, I understand that.
I am curious about your car loan, though. You wrote that your current car loan balance is approx. $14,000.
Dunno your car loan interest rate, but if you could refinance your car loan at a lower interest rate, that could have a big impact on your future credit-worthiness because you could pay off your car loan sooner. Later, if your car is still worth enough, you may even be able to re-finance it again to obtain allowable cash for part of a down payment on a mortgage for a house.
Increased credit-worthiness would also have a beneficial effect regarding credit card approvals, credit limits, and interest rates.

 

If you did not obtain your car loan through a bank or credit union, I suggest that you talk to any bank or credit union (more than one is probably better) about your car loan.

 

Financing a car sale in-house is a source of profit for most car dealers, so a car loan through a bank or credit union is usually a better deal for the car buyer.

 

Edit:  I forget to write that in Message 4 of this thread, you mentioned getting a credit report from [freecreditreport.com].  I suggest http://www.AnnualCreditReport.com instead (google for FTC free credit report).

Regular Contributor
castlefox
Posts: 227
Registered: ‎12-09-2010
0

Re: Equifax fico + BCP

Thanks for posting your recap nada.   Based on the date you applied and the date applied I probally have to wait another week for my Blue Cash Everyday card         : (

 

How did you get to your complementary CR from AmEx ?   Is it something I will see after I activate the card and log into the website ?

MyFICO score- Equifax - 12.03.11 - 780 Experian 12.03.11 - 763
(FAKO Scores) EXP PLUS Score Dec 2011. 748
Advanced Risk Score 2.0 (NextGen) 793 Dec 2010
Vantage Score (2011) MAR = 771 Jun = 771 Sept= 788 Dec= 773
2012 MAR = 782 JUN=783 Dec = 789
2013 Mar-796 Jun-799 Dec- 797
Frequent Contributor
nada9188
Posts: 251
Registered: ‎11-27-2011
0

Re: Equifax fico + BCP


Gollum wrote:
nada9188,
This is in reply to your Message 36 in this thread.

After reading your Message 1 in this thread, apparently your Equifax FICO score was 738 before you got your American Express Blue Cash Preferred (AmEx BCP) card.  If that was a FICO score, you probably still have a very good FICO score after receiving your AmEx BCP card.
You wrote that you don't care about your APR for your cards because you have never carried a balance on a card.  OK, I understand that.
I am curious about your car loan, though. You wrote that your current car loan balance is approx. $14,000.
Dunno your car loan interest rate, but if you could refinance your car loan at a lower interest rate, that could have a big impact on your future credit-worthiness because you could pay off your car loan sooner. Later, if your car is still worth enough, you may even be able to re-finance it again to obtain allowable cash for part of a down payment on a mortgage for a house.
Increased credit-worthiness would also have a beneficial effect regarding credit card approvals, credit limits, and interest rates.

 

If you did not obtain your car loan through a bank or credit union, I suggest that you talk to any bank or credit union (more than one is probably better) about your car loan.

 

Financing a car sale in-house is a source of profit for most car dealers, so a car loan through a bank or credit union is usually a better deal for the car buyer.

 

Edit:  I forget to write that in Message 4 of this thread, you mentioned getting a credit report from [freecreditreport.com].  I suggest http://www.AnnualCreditReport.com instead (google for FTC free credit report).


Gollum:

 

Thank you for the response.

 

There interest rate on the car loan is 7.14 and that was with a cosigner. That account is turning 1 year old, and the vehicle is on '05. The loan is from State Farm Bank, I was told that the year of that car is contributing to the higher interest rate. 

 

When I checked my credit on the amex website it gave me the same plus score and report for EX that freecreditreport.com did. 

Frequent Contributor
nada9188
Posts: 251
Registered: ‎11-27-2011
0

Re: Equifax fico + BCP


castlefox wrote:

Thanks for posting your recap nada.   Based on the date you applied and the date applied I probably have to wait another week for my Blue Cash Everyday card         : (

 

How did you get to your complementary CR from AmEx ?   Is it something I will see after I activate the card and log into the website ?


Yeah I felt for being one of the most prestigious ccc's the card should have arrived faster. Oh well. 

 

After I created my account it had a link saying complementary credit report so I set that up. I'm not sure what the details are on it or how long it will last.. Can anyone advise?


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