Reply
Established Contributor
Posts: 869
Registered: ‎07-04-2012
0

Re: Is it too early to product change: Amex BCE to BCP?

I seems ridiculous the gov. is restricting us from choosing a card that fits our needs the best. As good as the CARD Act might be, one thing is trying to protect customers and other is getting in their way and gently closing doors to better financial outcomes. As for amex's policies, I don't think they would care much about you pcing your cards within the first year. Anyways, congrats on the cl!! It's always nice to carry an amex.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Valued Contributor
Posts: 2,217
Registered: ‎09-16-2011
0

Re: Is it too early to product change: Amex BCE to BCP?


CruzImperial wrote:

I seems ridiculous the gov. is restricting us from choosing a card that fits our needs the best. As good as the CARD Act might be, one thing is trying to protect customers and other is getting in their way and gently closing doors to better financial outcomes. As for amex's policies, I don't think they would care much about you pcing your cards within the first year. Anyways, congrats on the cl!! It's always nice to carry an amex.


They are restricting it because sub-prime lenders were changing AF's and monthly fees anytime they felt like it and peope with little or no credit sense allowed it. Or had balances had no choice to pay it or destroy their credit. 

 

 

Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5k, Walmart 10k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 8.5k and a nice stack of store cards.
Last APP/HP 4/22/2015
Established Member
Posts: 58
Registered: ‎10-24-2011
0

Re: Is it too early to product change: Amex BCE to BCP?

trying to do the same thing just got an email back saying can't do it now but maybe after a year  which will be next month

chase sapphire preferred 5k
capital one venture 5k
amex blue cash preferred 2.5k
chase freedom 500
amex premier reward npsl

trans union 705 goal 750
equifax 675 goal 750

Frequent Contributor
Posts: 396
Registered: ‎04-02-2012
0

Re: Is it too early to product change: Amex BCE to BCP?

I was approved with a 676 this past Monday so his approval is just fine LilNYC. Why does everyone assume FAKO scores here? Lol.
My Wallet:
Discover It $14,300 | Chase United $12,000 | Chase Sapphire Preferred $7,000 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $4,200 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
0

Re: Is it too early to product change: Amex BCE to BCP?

[ Edited ]

CruzImperial wrote:

I seems ridiculous the gov. is restricting us from choosing a card that fits our needs the best. As good as the CARD Act might be, one thing is trying to protect customers and other is getting in their way and gently closing doors to better financial outcomes. As for amex's policies, I don't think they would care much about you pcing your cards within the first year. Anyways, congrats on the cl!! It's always nice to carry an amex.


CARD Act is mostly good. What I really don't like is government limits over-draft auto enrollment (remember how there was one person whining about a $35 coffee?)

 

That essentially eliminated most free checking/savings account.

 

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)
New Contributor
Posts: 76
Registered: ‎05-26-2011
0

Re: Is it too early to product change: Amex BCE to BCP?


jd5189 wrote:

Ahhhh crap oh well.... I guess I will use the PRG for a while and then product change in a year. I submitted 2 Amex apps already this month I won't be going for a third... Thanks for the help. The CARD act is stupid because I WANT the change to happen. I can understand a company initiating the change, but if I want the change initiated I should be allowed to. Gov't needs to take a step back a little and let the consumer do as they please, especially if it is putting more cash in my pocket!!!!


I would disagree with you. The CARD Act is right to do this in the manner it does because without a blanket ban lenders would find very crafty ways to coerce users into agreeing to fee increases. This is targeted at the sub-prime lenders who prey on the bad credit of their customers and their financial illiteracy. The easy lesson for us who are financially literate to learn is to apply for the card we want the first time and not to rely on product conversions.

 

Feb. 2012: TU: 677 EQ: 647 EX: 666
Aug. 2013: TU: 729 EQ: 726 EX: 697
Goal 2013+: 720+ All Three
Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

Re: Is it too early to product change: Amex BCE to BCP?

[ Edited ]

I was expecting my CL to be low (less than 2k) considering I had no other revolver on my CR at the time. 2k is useless to me (I am used to my charge card), and I really didn't want to have the pay the card off multiple times just to use it. So, I didn't want to get stuck with a annual fee for the BCP, low limit, not being able to use it as much as I would have wanted and having to go through the trouble of PC'ing down to the BCE. Although, I have heard conflicting info from when I first activated that you can PC up to the BCP before a year. I'm going to give them a call again maybe Tuesday and see if I can. Maybe it just depends on who you get.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Is it too early to product change: Amex BCE to BCP?

I think the card act was well needed.  Also as a side note you can't PC a chase card until 12 months have passed.


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!



Take the myFICO Fitness Challenge
Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

Re: Is it too early to product change: Amex BCE to BCP?


webhopper wrote:

I think the card act was well needed.  Also as a side note you can't PC a chase card until 12 months have passed.


Crashem has spoken with a CSR that mentioned it is possible... so I am going to look into it.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.