topic Re: Amex BCE Approval Odds in Credit Card Approvals

Amex BCE Approval Odds

Anonymous — Fri, 20 Nov 2015 23:07:53 GMT

Hi everyone, this is actually my first time posting. I have read many posts on approval odds for various cards, and recently about the Amex BCE. I want to apply for this card, but thought I'd ask about my situation in particular, taylor made if you will, so that I have an idea of what my approval odds are. I would really appreciate any input (constructive) that y'all might have. The following is my info:

FICO Scores: TU 703 EQ 698 EX 708

4 CC: CapOne $500 (03/15), CapOne $1500 (06/15), Chase Freedom $3500 (10/15), Discover IT Chrome $5500 (10/15)

1 Chase car loan (03/15)

TU and EQ AAoA: 6 months (low I know), EX 1 year 1 month (still low)

Inq. TU (8), EQ (6), EX (5)

I realize that I have quite a bit of activity lately, and that's part of the reason why I'm doing more research before I pull the trigger. Just seeing if anyone has been approved in a similar situation. Let me know what y'all think.

Thanks

Re: Amex BCE Approval Odds

Anonymous — Fri, 20 Nov 2015 23:58:19 GMT

Is your EX file clean? No derogatory entries? If so, go for it.

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 00:09:05 GMT

Yes my Experian CR is clean. No late payments or collections, but as I mentioned, I have 5 inquires and 1 year AAOA

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 00:15:54 GMT

Amex will like you.

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 00:21:39 GMT

You should be fine, Amex like thin files. If everything that you mentioned is true, the score for your EX should support it. I say 680^ will get you the card. Good luck!

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 00:22:47 GMT

Check out their pre-qual link. See if there are any customized pre-qualified deals for you. If not don't get discouraged. Many MyFico members have been approved without being pre-qualified first.

As the others have said... If you're EX is clean they will probably welcome you into their family. Good luck!

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 00:23:02 GMT

they'll probably pull experian and a year AAoA is fine. ED and BCE aren't too tough underwriting wise. the only thing they may not like is your cards are all from this year though. they may wanna see more revolving history

Re: Amex BCE Approval Odds

SunriseEarth — Sat, 21 Nov 2015 00:34:22 GMT

I was approved when my EX was ~672. My SL was $1500 and my APR was 18.99% after promo. I've been able to get 2 successful 3X CLIs since then and the APR permanently lowered to 12.74%.

AMEX may not like your short history or recent INQs and accounts, but it could go either way. They seem to like low UTIL, so if you have that, it could work in your favor.

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 00:43:27 GMT

@Anonymous wrote:
Hi everyone, this is actually my first time posting. I have read many posts on approval odds for various cards, and recently about the Amex BCE. I want to apply for this card, but thought I'd ask about my situation in particular, taylor made if you will, so that I have an idea of what my approval odds are. I would really appreciate any input (constructive) that y'all might have. The following is my info:

FICO Scores: TU 703 EQ 698 EX 708

4 CC: CapOne $500 (03/15), CapOne $1500 (06/15), Chase Freedom $3500 (10/15), Discover IT Chrome $5500 (10/15)

1 Chase car loan (03/15)

TU and EQ AAoA: 6 months (low I know), EX 1 year 1 month (still low)

Inq. TU (8), EQ (6), EX (5)

I realize that I have quite a bit of activity lately, and that's part of the reason why I'm doing more research before I pull the trigger. Just seeing if anyone has been approved in a similar situation. Let me know what y'all think.

Thanks

Welcome to the forums. I'm a little confused here. You mention that your oldest credit card was opened in March of 2015, but then say your AAoA is 1 year 1 month? Is there something we are missing?

Your actual EX score looks fine. 5 inquiries with a low AAoA might cause them to pause a bit, coupled with your accounts all being new.

I would personally wait until the oldest credit card showed a year of payment history for your best chances of getting approved, and also having a decent SL and a decent interest rate as well, but that's just my opinion. It's only a few more months.

Re: Amex BCE Approval Odds

Anonymous — Sun, 22 Nov 2015 15:30:33 GMT

keep in mind the vehicle loan OP mentions counts towards AAoA. (Mod Cut-We can do without the snark, again you know what this type of posting will get you)

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 01:29:55 GMT

@MagneticObsession I've checked their pre-qual link (on many ocassions, and often lol) but to no avail

@2011XTERROR that's what has me concerned

@SunriseEarth my utility's not too bad at 4% (EX)

@humuhumunukunukuapuaa thanks, it's about time I participated in all the fun Yeah my oldest credit card is from March 2015, but I've had 2 car loans, 1 current from March 2015, and one that I've paid off (bought the car in March 2011 and paid it off in March 2013). Also I've had my home alarm listed on my credit report since 2012.

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 05:22:42 GMT

@Anonymous wrote:
Hi everyone, this is actually my first time posting. I have read many posts on approval odds for various cards, and recently about the Amex BCE. I want to apply for this card, but thought I'd ask about my situation in particular, taylor made if you will, so that I have an idea of what my approval odds are. I would really appreciate any input (constructive) that y'all might have. The following is my info:

FICO Scores: TU 703 EQ 698 EX 708

4 CC: CapOne $500 (03/15), CapOne $1500 (06/15), Chase Freedom $3500 (10/15), Discover IT Chrome $5500 (10/15)

1 Chase car loan (03/15)

TU and EQ AAoA: 6 months (low I know), EX 1 year 1 month (still low)

Inq. TU (8), EQ (6), EX (5)

I realize that I have quite a bit of activity lately, and that's part of the reason why I'm doing more research before I pull the trigger. Just seeing if anyone has been approved in a similar situation. Let me know what y'all think.

Thanks

Hello and welcome to the forum! I would wait until you have a little more history, like a year or longer (if you can), on your credit cards. I know you have an auto loan older than a year, but it falls under installment not revolving.

You probably could get in with your current scores. I think it's best to wait than barely meet the minimum requirements. I don't want you to just get your foot in the door. I want you to succeed and get a limit you want with a nice APR. That's my 2 cents. Good luck OP!

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 06:03:27 GMT

i was approved for amex bce for 5k 680 experian, and 30 inq

Re: Amex BCE Approval Odds

takeshi74 — Sat, 21 Nov 2015 13:59:33 GMT

@Anonymous wrote:
Hi everyone, this is actually my first time posting. I have read many posts on approval odds for various cards, and recently about the Amex BCE.

If you're looking for rewards on spend have you run the numbers and compared total cost/benefit versus other cards like the BCP?

Re: Amex BCE Approval Odds

Anonymous — Sat, 21 Nov 2015 17:54:54 GMT

If you don't have a NEED more credit, I would wait until your score is above 720. I do not take unnecessary risk of wasting an inquiry as they stay on your credit report for 24 months.

Re: Amex BCE Approval Odds

Anonymous — Sun, 22 Nov 2015 15:32:04 GMT

The vehicle loan is still not even a year old -(Mod Cut-Goes for you as well....) Thanks!

Re: Amex BCE Approval Odds

Anonymous — Sun, 22 Nov 2015 15:32:29 GMT

@Anonymous wrote:
The vehicle loan is still not even a year old - Thanks!

As OP explained later, two older car loans.

Re: Amex BCE Approval Odds

Anonymous — Sun, 22 Nov 2015 02:05:23 GMT

So I applied last night, just hadn't had a chance to respond. Good news mainly, but somewhat bad news as well. Good news is I was approved!! (which I'm very happy about), the bad news is I was approved for only $500, which is my lowest CL (CapOne is actually $501 lol). Now don't get my wrong, I'm happy about the approval, but maybe just a little disappointed by the CL. Maybe I should have waited as some of you suggested.

Also, I wasn't instantly approved, instead I was promoted with a screen telling me that they couldn't give me an immediate decision and that they would mail me a decision in 14 days, two hours later I had an approval email. I was ecstatic, and still am. :-)

Re: Amex BCE Approval Odds

Anonymous — Sun, 22 Nov 2015 02:13:24 GMT

congrats on your approval!

Re: Amex BCE Approval Odds

Anonymous — Sun, 22 Nov 2015 02:31:19 GMT

@Anonymous wrote:
So I applied last night, just hadn't had a chance to respond. Good news mainly, but somewhat bad news as well. Good news is I was approved!! (which I'm very happy about), the bad news is I was approved for only $500, which is my lowest CL (CapOne is actually $501 lol). Now don't get my wrong, I'm happy about the approval, but maybe just a little disappointed by the CL. Maybe I should have waited as some of you suggested.

Also, I wasn't instantly approved, instead I was promoted with a screen telling me that they couldn't give me an immediate decision and that they would mail me a decision in 14 days, two hours later I had an approval email. I was ecstatic, and still am. :-)

Congrats on your approval! You could always ask for a CLI at activation, but I don't think it's a good idea. Based on your low SL & approval, you may have just barely met the minimum requirements for this card. I would try at 61 days for the 3X CLI. Welcome to the Amex family!