Thinking of app'ing for AMEX Blue Cash Preferred - what about new accounts? Update

[BoSox617]

Hi all,

What age range does AMEX consider accounts to be "new" (I've read that companies can tend to view accounts as new for up to 24 months)? My most "recent" cards were opened 14 months and 6 months ago (everything else is 5 years old or older).

I'm thinking of app'ing for the AMEX Blue Cash Preferred card (I am not currently a customer of AMEX). I'd like to take advantage of the 0% intro period of 6-12 months, and the 6% on supermarkets (that will more than offset my disappointment when PenFed did away with their 2% discount this year).  I'm a little concerned about being given a low CL because of these "new" accounts (my cards range from $10K and up, and I'd like to stay in that range).

Thanks very much in advance for your input

[Walt_K]

The CL you're going to get is going to depend on a lot of factors.  Based on a recent app, I'm assuming that HHI and previous usage with Amex weigh heavily.  I was approved for Starwood card with inital CL of $19600.  I have a PR Gold that was opened in October that I use heavily.  The only open revolving account I had at time of app has a CL of $2500.  I had a closed account with a CL of $10K. 

I would think your "new" accounts would be more of an issue of whether you would get approved or not as opposed to your CL upon approval, and I don't think that one 14 month old account and one 6 month old account seem like that big of a deal.  But what are your scores?  They might be a bigger factor if your scores are borderline.

[Ron1]

I think 6 months is a kind of new. You should have any problem to apply for the card.  They also look at other things ( credit history, income, credit utilization) for credit decision. They usually pull EXP and sometimes all 3.

Ron.

[BoSox617]

Thanks Walt_K and Ron1

My EQ FICO is 803, no baddies, AAoA 5 years, Util <1% (I don't know what my EX score is, but all 3 reports are clean). 

I've read a number of folks indicate starting CLs of roughly $2K-$3.L, and I would rather have CLs that at the very least match my existing ones.  AMEX has been hammering me with snail mail apps for quite a while (Blue Sky, Gold), but I just didn't care for them.  But when I learned of the Blue Cash Preferred, I was happy to see the initial spending tier eliminated, 6% on supermarkets, and 0% intro period.  I called them on Monday to see if they could give me SOME idea of what I would get, but no-go on that - I would have to app.

I'm probably being overly cautious, but I'd rather get input before pulling the trigger. 

Thanks again!

[Ron1]

You should get approved for the card with decent CL.  

Ron.

[Anonymous]

I applied for the Blue Cash 3/28/11 was approved (2000CL)

I have 4 CC's opened last year starting in June, Sep, and two in Dec. highest CL was 750. EX Fico somewhere between 710-720 according to the AmEx rep who pulled my EX report. I am also an AU on my Fathers AmEx Platinum Optima (opened in 84 16,000CL)  I had 2 inquiries on EX (which is generally what AmEx pulls) at the time of my app for the Blue Cash. I have a CO from back in 2005 as well, the only baddie on my reports (shouldn't even be there, it's not my acct.)

I apped for the Blue Cash Preferred on 4/30/11 was approved, and then when I called for my CL, I was told that unfortunately since I applied for the Blue Cash just 30 days earlier I have to wait to apply for the BCP 90 days from my first app, I was told this was because the two cards are basically the same CC's, and that they will send a suppression to EX for the last inquiry to have it removed from my report.

I was told I could apply for any other AmEx CC just not a Blue of any kind for 90 days from 3/28/11, I believe I was told the date of July 1st.

Just thought I'd give you a bit of my situation, hope it helps you knowing what I have on my report (as far as new accts. Inquiries etc....) and was approved for both Blue Cash and Blue Cash Preferred (but for the reason said above, I won't be getting the Blue Preferred even tho I was approved)

If I was approved with a CL of 2000 with my highest CL of 750 prior to my Blue, you having less "New" accts. and much higher CL's already, I would think they would approve you with a higher than 2000CL probably more like 5000-7500????

Best of Luck!

[Walt_K]

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@BoSox617 wrote:

Thanks Walt_K and Ron1

My EQ FICO is 803, no baddies, AAoA 5 years, Util <1% (I don't know what my EX score is, but all 3 reports are clean). 

I've read a number of folks indicate starting CLs of roughly $2K-$3.L, and I would rather have CLs that at the very least match my existing ones.  AMEX has been hammering me with snail mail apps for quite a while (Blue Sky, Gold), but I just didn't care for them.  But when I learned of the Blue Cash Preferred, I was happy to see the initial spending tier eliminated, 6% on supermarkets, and 0% intro period.  I called them on Monday to see if they could give me SOME idea of what I would get, but no-go on that - I would have to app.

I'm probably being overly cautious, but I'd rather get input before pulling the trigger. 

Thanks again!

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I'm guessing you'll get higher than 2-3K as well.  If it helps you at all, my EQ score at time of app was what I have in my signature line.  I'm guessing my TU was approximately 20 points higher because it was 20 points higher than my EQ before EQ updated, and I haven't gotten a TU update yet as I only have quarterly monitoring for that.

I have lots of late payments from mid to late 2008 (lost job).  No other baddies.  Everything has been clean since then.  You have a much higher score and completely clean reports, so that obviously counts in your favor.  And you have other high CLs for them to match, which I did not (unless a closed account is considered).

[BoSox617]

Update - thank you all for your advice and feedback!

I applied and was approved for the AMEX Blue Cash Preferred card yesterday - $100 back after spending $500 in the first 60 days, $10K CL (the minimum I had hoped for), 0% interest for 12 months, then 13.99% APR.

So in my case, the two "new" accounts (opened 14 months and 6 months prior to my AMEX app) did not seem to hurt me - I hope this info may be useful to others.

Thanks again to the folks on this and other threads who provided such helpful info, I appreciate it!

[tengtengvn]

Welcome to AMEX family. Congrats!!!

I have a CC and car loan less then 13 months old. I was approved last week with $6000 credit line.

[JagerBombs89]

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@BoSox617 wrote:

Update - thank you all for your advice and feedback!

I applied and was approved for the AMEX Blue Cash Preferred card yesterday - $100 back after spending $500 in the first 60 days, $10K CL (the minimum I had hoped for), 0% interest for 12 months, then 13.99% APR.

So in my case, the two "new" accounts (opened 14 months and 6 months prior to my AMEX app) did not seem to hurt me - I hope this info may be useful to others.

Thanks again to the folks on this and other threads who provided such helpful info, I appreciate it!

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The new Blue Cash have APRs that low?!