topic Re: I'm getting an Amex itch...help me in Credit Card Approvals

I'm getting an Amex itch...(Edit) APPROVED for BLUE SKY!!!)

Anonymous — Wed, 02 Jan 2013 22:13:20 GMT

I have been doing well in the garden for 2 months and really have had no intentions of apping for anything until this August so all my credit cards will be a year old. The problem with my credit is that I have a prefectly paid mortgage that will fall off 1/2015 (only on ex and eq) and a perfectly paid carloan that will fall of this month (it already has on tu). Other than that I paid cash for everything for years and just started my quest to rebuild back in August. I have been totally satisfied with the cards I have. But....American Express pulled a sp back in Oct. and has already sent me 3 preselected invitations for 3 different cards. I was most interested in the Blue Sky Card they first offered. I would love to rack up travel points. These mailings are really setting me off to app. I filled out half my information for the Blue Sky and just saved it because I got scared.

Everyone here says the Amex cards are the thing to have for both the points and the backdating. Should I finish that app before the car loan falls off or shoud I just stay in the garden til August like I've been doing? Do I have any chance at all with Amex?

I've really been ignoring the apps they send me and then I found out that my car loan has fell off of TU and the house is not on there so now my oldest credit is 5 months ago. So I am getting scared about not being able to get certain cards in the future with all the long history being gone.

I am sooo freaking out right now!! I finally went for it and was approved for the Blue Sky for 2400.00!!

Re: I'm getting an Amex itch...help me

FutureBillionaire — Wed, 02 Jan 2013 19:20:26 GMT

If you app now, it is my understanding that the pull is a soft pull if they deny. In addition, you have a January date to backdate too. That is excellent for backdating purposes. I think it is worth a shot.

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 19:23:28 GMT

@FutureBillionaire wrote:
If you app now, it is my understanding that the pull is a soft pull if they deny. In addition, you have a January date to backdate too. That is excellent for backdating purposes. I think it is worth a shot.

It's only a soft pull if you are already an AMEX cardholder.

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 19:46:28 GMT

I do have an amex but it's with FNBO. I don't understand backdating....would that be good for me beings my old stuff is falling off or does it not matter since my oldest card was opened in Aug. 2012?

Re: I'm getting an Amex itch...help me

bichonmom — Wed, 02 Jan 2013 19:54:22 GMT

@Anonymous wrote:
I do have an amex but it's with FNBO. I don't understand backdating....would that be good for me beings my old stuff is falling off or does it not matter since my oldest card was opened in Aug. 2012?

Unfortunately that doesn't count for backdating. You need to have a card administered by Amex not a co-branded card like USAA, Barclay's, etc.

I'm not sure if you'd be approved for Amex with such a short history. I don't know how much your old mortgage would factor into it for them. Your FICO looks good, so you might try for Green. IMO, I'd try for a charge first since their revolvers have higher criteria. I think your odds for a Green are pretty good.

And as someone else posted, it will be a HP since the Amex you have isn't administered by Amex.

ETA: Your AAoA will drop when your mortgage falls off, so your FICO will drop as well. If I were you, I would definitely try for the Amex charge now. If you don't, you may beat yourself up later. Worst case scenario, you get a HP and know you tried.

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 19:53:47 GMT

@Anonymous wrote:
I do have an amex but it's with FNBO. I don't understand backdating....would that be good for me beings my old stuff is falling off or does it not matter since my oldest card was opened in Aug. 2012?

It has to be a card that is offered by American Express. If your card is backed by FNBO it won't qualify. I have a CitiBank AMEX that does not qualify because it is backed by Citi and not AMEX.

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 21:52:13 GMT

I just got home and checked my mail and what do you know? A fourth preselected blue sky in the mail. Amex is not helping my itchy little self..lol

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 21:57:11 GMT

Since the Amex is co-branded there's no reason to scratch right now.

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 22:08:05 GMT

Go for it!! I Hear its only a SP If Denied. Go Go Go Go Go!!

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 22:11:48 GMT

Ok....so I could not take it anymore!! I app'd and got an instant approval!! I am total shock!! I thought I was going to stop breathing during the longest 60 seconds ever!! I was approved for the Blue Sky for 2400.00!!

Re: I'm getting an Amex itch...help me

webhopper — Wed, 02 Jan 2013 22:12:47 GMT

congrats!! Welcome to the Amex Family!

Re: I'm getting an Amex itch...help me

swpopham — Wed, 02 Jan 2013 22:43:41 GMT

congrats!! just 3 days too late for a killer set up!

Re: I'm getting an Amex itch...help me

Anonymous — Wed, 02 Jan 2013 22:58:52 GMT

Congrats! I'm hoping to join the Amex family in December 2013 too!

Re: I'm getting an Amex itch...help me

Cdnewmanpac — Wed, 02 Jan 2013 23:15:23 GMT

1. Congratulations. If you choose a card that matches your spending and use it wisely, it will grow nicely with you.

2. I'm sorry I waited to get home, because I wanted to suggest another (any other, honestly) amex product. The underwriting requirements for Blue Sky are the same for any of their other top revolvers and the Blue Sky benefits are "meh" (as the kids say). 1 point/dollar, redeed 7500 points ($7500 in spending) for $100 statement credit against designated travel expenses. So you spend 7500, then at least 100 more on tickets, hotels, etc. then ask for the credit, then get it. So 1.33 pts/dollar, but in 7500 point increments. I know it is too late now, but if you travel a lot, the SPG is a much better general spend card. If you don't travel a lot, the BCE is a much better general spend product. You can't PC to a card with an annual fee for a year, but you can probably PC to a BCE at any time. Please consider it, as we see so many people who app for amex cards that don't fit their spending and are then disappointed with the rewards. For MOST people, BCE is a better product and has the same underwriting.

3. Either way, enjoy the card. The company is great, the customer service is first rate and things like "sync" and "small business saturday" can really add cash.

Re: I'm getting an Amex itch...(Edit) APPROVED for BLUE SKY!!!)

adavis425 — Wed, 02 Jan 2013 23:21:32 GMT

Congrats and welcome!!

Re: I'm getting an Amex itch...(Edit) APPROVED for BLUE SKY!!!)

rtw — Wed, 02 Jan 2013 23:24:30 GMT

Congrats!

Re: I'm getting an Amex itch...(Edit) APPROVED for BLUE SKY!!!)

Anonymous — Thu, 03 Jan 2013 00:11:11 GMT

@cdnewmanpac I don't travel alot all all. I was wanting to earn the points to be able to travel more. So did I choose the wrong card? If so, would I be able to switch to the blue card everyday? That's bce right? Would I be inviting trouble if I wanted to switch? I get so confused with all the cards that amex offers

Re: I'm getting an Amex itch...(Edit) APPROVED for BLUE SKY!!!)

Anonymous — Thu, 03 Jan 2013 01:02:47 GMT

Congrats

Re: I'm getting an Amex itch...(Edit) APPROVED for BLUE SKY!!!)

wallyworld123 — Thu, 03 Jan 2013 01:34:57 GMT

Congrats very happy for you

Re: I'm getting an Amex itch...(Edit) APPROVED for BLUE SKY!!!)

nicholasyud — Thu, 03 Jan 2013 01:46:30 GMT

Congrat snowww