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New Member
BJGPP
Posts: 1
Registered: ‎01-20-2013

Should I App to Amex BCP w/ semi limited credit?

Hi All,

 

First post here. I have been reading on these boards for months now and have learned a lot about credit in that time. I currently have one CC (Still open, haven't used in 4 years, never late, always PIF when charged to) and I really want to app for an AMEX BCP card but don't know if I will get approved or not. I have paid with only cash for years and would like to take advantage of the 6% cash back offered by BCP since I spend most of my money on groceries each week.

 

My Current Situation:

Scores: EQ FICO: 744 | TU FICO: 739 | EX FICO: Unknown

Open Accounts from Credit Report: Wells Fargo Credit Card ($1200 CL, Open for 6 years 11 months, haven't used in 4 years, 0% Util)

Average age of Accounts: 6 years 11 months. Oldest Account: 6 years 11 months

Never Late

Have Always PIF

No Loans or Mortgages

Hard Pulls: 0

Derogatory/Negative/Collection/Leins: 0

Income: 40K

 

Do you think my chances are good for getting approved for Amex BCP given I only have one total account on my reports? If not, any recommendations on a good cash back card for grocery shopping?

 

Thanks!

 

 

Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012

Re: Should I App to Amex BCP w/ semi limited credit?

I say go for it -

 

www.whogavemecredit.com

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

BCP is NOT a 6% card, but a 4.75%

[ Edited ]

BCP is NOT a 6% card, but a 4.75% 

BCP is NOT a 6% card, but a 4.75% 

BCP is NOT a 6% card, but a 4.75% 

BCP is NOT a 6% card, but a 4.75% 

 

After annual fee and $6000 limit :\

 

you should be MORE than fine, but surprised you didn't have a second card, but remember BCP is only limited to $6,000 at 6% a year now.

 

 

The benefit of this card is 6% upto $6,000 but that's $360 in savings annually so it might not be the best since there is a $75 annual fee. So that brings the savings down to $285 a year. So your only actually getting 4.75% back on your groceries =\

 

Depending on your lifestyle/spending habits another card could be much better. Although it is good to get your door in with Amex, another card could do much much better.

 

 

Personally I thought the BCP was a great card at start, but then realizing most my shopping is done at Walmart / Costco I don't really use this card enough to justify keeping it. Most frugal people would shop mainly this way. Hell I even buy meats at Omaha steaks, and toilet paper at Amazon cause I get better deals this way. I only spend about $20 a week at a grocery store these days.  (Omaha steaks are amazing cause I use ultimate rewards mall, and Chase points are worth upto 9cents a piece for me for my travel habits, so last month they had a 13 point promotion, so I got 780 points for $60 worth of steaks, if redeemed for first class tickets I basically got a $70 value towards first class, or about $30 for coach redemptions)

 

Explore all options and think of your lifestyle before you get a second card, this one's going to be a decent affect on your score bringing down your AAOA, but remember you should apply for a few on the same day :smileywink:       

 

 

Also You should apply for US Bank Cash+ before anything, it is the BEST credit card to have if you love cash back / end of story. If you plan to travel soon Flexperks + United Mileage plus or club are clear winners in the travel world imo. Also Chase Ink business cards are undeniably the best cards for travel :smileywink: but that's another story =x

 

 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: BCP is NOT a 6% card, but a 4.75%

I got the card with only 6 months of revolving history and the scores shown in my signature, which aren't far off from yours. I say give it a try and get back to us!


In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Frequent Contributor
jake619
Posts: 496
Registered: ‎11-13-2012

Re: BCP is NOT a 6% card, but a 4.75%

I thought BCP w/ the $250 sign-up/minimum spend bonus beats CASH+.  Also  the CASH+ structure is heavily rumored to be changing very soon and the categories rotate vs. BCP being static all year.


GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev




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