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Should I go for an AMEX Blue Cash

Established Member

Should I go for an AMEX Blue Cash

Hi,

 

I am new to the forum and have been reading up on tips on maintaining a great credit score. The wealth on information on this site alone is amazing, I've spent hours reading different threads and learning from other member's experiences.

 

About me:

 


I'm 24 years old and have been following my credit score via Credit Karma for about two months now. My last update was Oct. 07 and the TransUnion score came at 765. Since finding myFico, I have purchased my score from Experian which came at 794.

 

At the moment, I have 6 credit cards open for the purpose of increasing my total credit limit. My first account was opened in 2008 and last account opened was a Sears Home Improvement card 4 months ago. I do have a credit history that goes back beyond 5 years, one of my parents had me as an authorized user on their account about 10 years ago. Nonetheless, my numbers seem to be on the good side.

 

I've missed one payment on my Citi Dividend card almost 2 months ago, but fortunately they never reported it on either my EXP or TU report.

 

I've paid off all my student loans a year ago and have no existing loan under my name.

 

What I'm thinking about doing:


I've been toying with the idea of opening up another line of credit. This time, with AMEX. I've read the AMEX 3xCLI thread and am tempted to apply for my first AMEX card, the Every Day Blue Cash or Blue Cash Preferred.

 

I really like not having an annual fee with any of my current cards, but the extra rewards incentive and 150 dollar credit on the BC Preferred is what sways me to that card. I usually spend anywhere between $300-$350 on gas every month, but do not do any major shopping at grocery stores so the 6% back doesn't mean much to me. Getting to the $1000 mark within 3 months won't be an issue to claim the 150 dollar reward.

 

 

My current debt/credit limt:

 

Discover 07/2008: $212.88 / $2,500 (Used for Gas Purchases)

Citi Forward 10/2009: $0 / $3,500

Citi Dividend 11/2011: $0 / $5,200

BOA 06/2011: $0 / $1,000

BestBuy 02/2013: $900 / $2,500 (0% intro rate, paying $100/month)

Sears Home Improvemen 05/2013t: $0 / $6,700

 

**2 inquiries: 02/2013 & 05/2013

 

What are my odds?

 

Considering that my last account was opened only 4 months ago and my scores are 765/794, what do you think are my odds of getting approved for either card? I understand that both require excellent credit, but is getting the Preferred card more difficult than the Everyday card?

 

 

Thank you in advance to those who contribute to this thread. Smiley Happy

As of August 2017:
TU - 796 -- EQ - 761 -- EXP - unkn -- FICO - 787



Credit Limits:
Chase Sapphire Reserve - $34.4K -- Discover Platinum - $3.5K -- BoA Cash Rewards - $1K -- Amex Delta Gold - $9.7K -- Amex BCE - $6.6K -- WF JA - $6.2K -- Fidelity Inv. Rewards - $7K -- Mesa Money - $9.4K -- Lord&Taylor - $1.5K -- Best Buy - $3.5K -- Citi DoubleCash - $5.2K -- Citi Forward - $3.5K -- Sunglass Hut - $2K
Message 1 of 30
29 REPLIES
Super Contributor

Re: Should I go for an AMEX Blue Cash


valtamirano wrote:

Hi,

 

I am new to the forum and have been reading up on tips on maintaining a great credit score. The wealth on information on this site alone is amazing, I've spent hours reading different threads and learning from other member's experiences.

 

About me:

 


I'm 24 years old and have been following my credit score via Credit Karma for about two months now. My last update was Oct. 07 and the TransUnion score came at 765. Since finding myFico, I have purchased my score from Experian which came at 794.

 

At the moment, I have 6 credit cards open for the purpose of increasing my total credit limit. My first account was opened in 2008 and last account opened was a Sears Home Improvement card 4 months ago. I do have a credit history that goes back beyond 5 years, one of my parents had me as an authorized user on their account about 10 years ago. Nonetheless, my numbers seem to be on the good side.

 

I've missed one payment on my Citi Dividend card almost 2 months ago, but fortunately they never reported it on either my EXP or TU report.

 

I've paid off all my student loans a year ago and have no existing loan under my name.

 

What I'm thinking about doing:


I've been toying with the idea of opening up another line of credit. This time, with AMEX. I've read the AMEX 3xCLI thread and am tempted to apply for my first AMEX card, the Every Day Blue Cash or Blue Cash Preferred.

 

I really like not having an annual fee with any of my current cards, but the extra rewards incentive and 150 dollar credit on the BC Preferred is what sways me to that card. I usually spend anywhere between $300-$350 on gas every month, but do not do any major shopping at grocery stores so the 6% back doesn't mean much to me. Getting to the $1000 mark within 3 months won't be an issue to claim the 150 dollar reward.

 

What are my odds?

 

Considering that my last account was opened only 4 months ago and my scores are 765/794, what do you think are my odds of getting approved for either card? I understand that both require excellent credit, but is getting the Preferred card more difficult than the Everyday card?

 

 

Thank you in advance to those who contribute to this thread. Smiley Happy


if you don't spend a lot on groceries, do consider other amex cards as well.

if not, you can always buy gift cards at grocery stores. In most cases, the BCP is a lot more "worthwhile" to get than the BCE. It's up to you though.

 

I think your odds are good.

Remember to go to creditcards.com, use cardmatch, and check if you are pre-approved for Amex BCE / BCP. There's a 150 cashback with 500 spend offer for the BCE.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 2 of 30
Valued Contributor

Re: Should I go for an AMEX Blue Cash

How about TRUE EARNING COSTCO !??? If you not do much at groceries store then COSTCO CC would be one thing u should consider.....

Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 3 of 30
Super Contributor

Re: Should I go for an AMEX Blue Cash

List all cards and limits in your name?

INQ's in the last year?

And how old the cards are? each

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 30
Valued Contributor

Re: Should I go for an AMEX Blue Cash

lol bro...you will get either one, no problem. Sounds like the BCE is what you want. If you see that the rewards minus the af of the BCP would have been better, then you can just app for one of those and they would give it to you. Either way, you're set up good..Just remember that missing a payment is one of the worst things that you can do to your Fico score. I am sure that you know that by now...Good job overall bro. 



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 5 of 30
Moderator

Re: Should I go for an AMEX Blue Cash

If you don't plan to buy groceries I would go for BCE, but based on the info you provided I think you have a real good chance at either BCE or BCP.  Def use cardmatch, I lost out on a decent promotion because I app'd out of haste Smiley Sad

Message 6 of 30
Established Member

Re: Should I go for an AMEX Blue Cash

Wow, thanks again to those who reponded so quickly. Your input is greatly apprecieated!

 

I've updated my original post to reflect the asked questions. What other Amex cards, are recommended? I remember getting the Amex Gold card advertising in the mail a few months back, but didn't go for it due to my balances being higher then.

 

A big thank you for pointing me to creditcards.com, I'm bookmarking that site!

As of August 2017:
TU - 796 -- EQ - 761 -- EXP - unkn -- FICO - 787



Credit Limits:
Chase Sapphire Reserve - $34.4K -- Discover Platinum - $3.5K -- BoA Cash Rewards - $1K -- Amex Delta Gold - $9.7K -- Amex BCE - $6.6K -- WF JA - $6.2K -- Fidelity Inv. Rewards - $7K -- Mesa Money - $9.4K -- Lord&Taylor - $1.5K -- Best Buy - $3.5K -- Citi DoubleCash - $5.2K -- Citi Forward - $3.5K -- Sunglass Hut - $2K
Message 7 of 30
Frequent Contributor

Re: Should I go for an AMEX Blue Cash


valtamirano wrote:

Wow, thanks again to those who reponded so quickly. Your input is greatly apprecieated!

 

I've updated my original post to reflect the asked questions. What other Amex cards, are recommended? I remember getting the Amex Gold card advertising in the mail a few months back, but didn't go for it due to my balances being higher then.

 

A big thank you for pointing me to creditcards.com, I'm bookmarking that site!


The question is, will the annual fee that comes with the Gold card be worth it for you at the end of the day? Are you going to be earning enough points to offset the AF every year?

The Fidelity Amex I hear is a decent card.

 

EQ: 768 TU: 769 EXP: 805
CSP: 7K | Chase Freedom: 5.7K
MERRILL+® VS: 9K | BOA AMEX: 1K
BOA 123: 7K Discover IT: 6K | Discover Chrome 4K | Costco AMEX: 15K | AMEX PRG NPSL | AMEX BCE 15K | Barclay NFL: 4.9K | Citi TYP 7K | Amazon Chase 1.7K | Barclaycard Arrival Plus WEMC 5K | Citi DC 5K | FNBO AMEX 4.8K | CAP 1 QS 10K | U.S. Bank Cash+ VS 5K |U.S. Bank Perks+ VS 6K
Message 8 of 30
New Contributor

Re: Should I go for an AMEX Blue Cash

wow man. i have no doubt youll qualify for the card you want lol.
NFCU Cash #1: 15000, NFCU Cash #2: 15000, USAA Plat: 10000, USAA AMEX: 10000, Local CU #1: 7500, Chase Hyatt: 5000, NASA FCU: 5000, SDFCU: 5000, FNBO: 5000, Militarystar: 4700, Chase Militarystar: 4700, Local CU #2: 3000, Chase Ink Classic: 3000 Zales: 2700 Discover IT: 1500, GE Amazon: 1400, GE Walmart: 1400, Target: 500, GE Dillards: 300
NFCU LOC: 15000, Local CU LOC: 3000
Message 9 of 30
Valued Contributor

Re: Should I go for an AMEX Blue Cash

This board has a collective obsession with BCE, so I'm gonna go against the tide and say, Go for BCP! Just use it to buy gift cards for other stuff you want at grocery stores.


Message 10 of 30