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Member
Posts: 6
Registered: ‎10-08-2013
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Re: Should I go for an AMEX Blue Cash

So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?
EQ - 794 (09/30/13) FICO
TU - 765 (CreditKarma)
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Should I go for an AMEX Blue Cash


valtamirano wrote:
So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?

If you hold a balance, especially a high one, it will hurt your score for the time that balance is reporting.

 

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).
Frequent Contributor
Posts: 424
Registered: ‎03-23-2013
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Re: Should I go for an AMEX Blue Cash

Congratulations. I never thought you'd be denied. Welcome to AMEX.

Super Contributor
Posts: 6,401
Registered: ‎09-22-2012
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Re: Should I go for an AMEX Blue Cash

Congratulations, I knew you would get it!  Use your card heavily, pay in full, don't app for any other cards and you should get that 3x CLI no problem.

Valued Contributor
Posts: 1,145
Registered: ‎04-13-2013
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Re: Should I go for an AMEX Blue Cash


enharu wrote:

valtamirano wrote:
So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?

If you hold a balance, especially a high one, it will hurt your score for the time that balance is reporting.

 


That's true but if you're not planning on apping for anything else, it's not such a big deal that your score gets dinged while you're taking advantage of the 0% apr. It sounds like your scores are already pretty good to begin with. But there are those who are a bit obsessive about not losing a single point regardless of them apping for anything. At the same time, not telling you to max out your new card either! Also, if you're carrying a balance, it may affect whether you get the full 3x CLI on day 61.


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Established Contributor
Posts: 574
Registered: ‎06-04-2012
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Re: Should I go for an AMEX Blue Cash


valtamirano wrote:
So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?

Congrats!

 

~kn


EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Member
Posts: 6
Registered: ‎10-08-2013
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Re: Should I go for an AMEX Blue Cash

Thanks to all who helped me out, much appreciated. :smileyhappy:

 

I'm very good when it comes to spending and planning big purchases, so I won't be maintaining a huge balance. Since I run the chance of affecting my odds of getting a 3x CLI, I figured I will hold off on any spending that will carry a balance until I make that CLI request.

 

On the meantime, I'll be using this card for gas and all other expenses.

EQ - 794 (09/30/13) FICO
TU - 765 (CreditKarma)
Senior Contributor
Posts: 6,260
Registered: ‎08-16-2012
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Re: Should I go for an AMEX Blue Cash

Welcome to Amex!!!! I'm lovin' my BCE!
It has fabulous rewards, one of the best- although of course there are naysayers!
Two tips:
1. Amex doesn't like long term balance carrying (even I keep this one pif!) Take advantage of the 0%, but I wouldn't have util > 20%
2. Get the 3xcli, which would be $15,600, after the 61st day or around there.

ENJOY!!


Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Super Contributor
Posts: 8,884
Registered: ‎06-19-2013
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Re: Should I go for an AMEX Blue Cash


youngandcreditwrthy wrote:
Welcome to Amex!!!! I'm lovin' my BCE!
It has fabulous rewards, one of the best- although of course there are naysayers!
Two tips:
1. Amex doesn't like long term balance carrying (even I keep this one pif!) Take advantage of the 0%, but I wouldn't have util > 20%
2. Get the 3xcli, which would be $15,600, after the 61st day or around there.

ENJOY!!



On my BCP i am trying to pull in full and keep util low at all times, in case they soft pull me in middle of statement cycle. Want to have best chances for my CLI in december. 



EX Fico 774 3/3/15 Fako 808 CS/Credit.com 11/24/14
EQ SW bank enhanced 3/24/15 819 CK fako 807 2/7/15
TU Fico Barclay's 3/26/15 791 TU fico walmart 3/23/2015 788 Fako 808 Creditkarma 3/23/15
Senior Contributor
Posts: 6,260
Registered: ‎08-16-2012
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Re: Should I go for an AMEX Blue Cash

I pif'ed my first and second statements to get the first 3xcli too.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
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