topic Re: AMEX Blue Cash Preferred - $13,400 SL in Credit Card Approvals

AMEX Blue Cash Preferred - $13,400 SL

ChemE_Bear — Sun, 05 Jul 2020 20:50:42 GMT

These forums have been so helpful to me in learning about credit I would like to add my data points for others outside of a post I had in the general credit card forum for my Amex Blue Cash Preferred.

I was looking to app 6 months from my Discover IT card w/ $2000 SL I received in February 2020, but a few things pushed me to apply this month:

- Car loan paid off, wanted to apply before it went from open to closed as it was my only installment loan (missed it by a day, didn't check Experian the morning I applied and surprise! it was already gone and my Experian score dropped from 762 to 722)

- Student loans have just left grace period and should be showing soon as open and deferrred due to CARES... assume there will be a score increase when installment loans are added but a decrease due to high percentage owed (95%) that will probably result in an overall score drop

I was approved with a SL of $13,400 and 23.99% APR after the first year.

Amex pulled Experian only showing the FICO8 score of 722.

Reason codes for low score:

-no recent revolving balances (I mistakenly had a card I'm an AU on reporting a balance and my Discover IT reporting as zero)

-length of time accounts have been established

-length of time revolving accounts have been established

Other information:

-12% utilization (15% on AU Chase Sapphire, 0% on Discover IT)

-2 open, revolving accounts (1 AU)

-no open installment loans

-no 30/60/90 lates

-100% on time payments for all accounts

- 0 collection accounts

-AoYA: 4 months

-AoOA and AAoA in signature but I see two different AoOA and AAoA on Experian website so I am not sure which is accurate. My oldest account is a closed 14 year old Chase card)

-3 inquiries (2 for car loan from September 2018, 1 for Discover IT)

Probably would have gotten a better APR had I applied the day before when I still had the car loan as an open account but overall I'm very happy with the SL and 6% cash back on groceries.

Re: AMEX Blue Cash Preferred - $13,400 SL

AllZero — Sun, 05 Jul 2020 18:39:31 GMT

Congratulations on your approval!

Re: AMEX Blue Cash Preferred - $13,400 SL

gdale6 — Sun, 05 Jul 2020 18:42:11 GMT

Sweet, a great SL too, congrats to you

Re: AMEX Blue Cash Preferred - $13,400 SL

CreditAggie — Sun, 05 Jul 2020 20:24:52 GMT

Congratulations on your Amex BCP approval and nice SL!

Re: AMEX Blue Cash Preferred - $13,400 SL

coreyb80 — Sun, 05 Jul 2020 20:48:22 GMT

Congrats on the approval!

Re: AMEX Blue Cash Preferred - $13,400 SL

M_Smart007 — Sun, 05 Jul 2020 20:59:48 GMT

Congratulations on your Approval..

Re: AMEX Blue Cash Preferred - $13,400 SL

lhcole77 — Sun, 05 Jul 2020 21:05:33 GMT

Congrats @ChemE_Bear . Gotta love Amex!

You can ask for an APR reduction via online chat.

When I got my Delta Plat, the APR was much higher than other cards. After I got it the mail and activated it, I contacted Amex via online chat and they lowered it 2%. I have since had it lowered a few more times (total of 8%), each time via online chat.

Might be worth a shot

Re: AMEX Blue Cash Preferred - $13,400 SL

ChemE_Bear — Sun, 05 Jul 2020 21:08:11 GMT

@lhcole77 Hey, thanks for the tip! I have 0% APR for a year so I will for sure to try that out before it switches to the 23.99%... especially if my scores significantly increase in the next year, which I know they will.

Re: AMEX Blue Cash Preferred - $13,400 SL

kilroy8 — Sun, 05 Jul 2020 21:10:49 GMT

My personal favorite and most used card.

Congrats on the approval and super SL!

Re: AMEX Blue Cash Preferred - $13,400 SL

mrcraft — Sun, 05 Jul 2020 21:15:13 GMT

Congratulations on your approval!!

Re: AMEX Blue Cash Preferred - $13,400 SL

MyFault — Sun, 05 Jul 2020 22:13:34 GMT

Congrats!

Re: AMEX Blue Cash Preferred - $13,400 SL

Mr_Mojo_Risin — Sun, 05 Jul 2020 23:07:52 GMT

Very nice!! That's a smooth SL!!

Big congrats to you!!

Re: AMEX Blue Cash Preferred - $13,400 SL

Anonymous — Mon, 06 Jul 2020 01:12:01 GMT

BOOM, Congrats on a great approval and SL!!

Re: AMEX Blue Cash Preferred - $13,400 SL

Meanmchine — Mon, 06 Jul 2020 04:36:16 GMT

Congrats on your approval and SUPER nice CLI

Re: AMEX Blue Cash Preferred - $13,400 SL

MisterWives — Mon, 06 Jul 2020 16:15:09 GMT

Congrats! Thats a very nice SL amount

Re: AMEX Blue Cash Preferred - $13,400 SL

Viva-LV — Wed, 08 Jul 2020 02:12:22 GMT

Congrats! Great card, I love mine. Enjoy!

Re: AMEX Blue Cash Preferred - $13,400 SL

nuohlac — Sat, 11 Jul 2020 02:36:05 GMT

Congratulations on your approval!!!