topic Re: AMEX BLUE CASH PREFERRED, 8K limit, low income in Credit Card Approvals

AMEX BLUE CASH PREFERRED, 8K limit, low income

Anonymous — Sat, 21 Nov 2020 09:53:46 GMT

AMEX BLUE CASH PREFERRED, $8000 limit, $300 sign-up bonus! APPROVED!

So I used self-control and didn't app for anything for a whopping SEVEN months! LOL! (It seems that in the last two years, it's been really hard to go longer than a few months without at least apping.) But with the plague and all, and also knowing that some much-anticipated money was arriving soon, I was able to wait. (The money allowed me to get completely out of debt.) My score jumped up after I paid off all my debts, and also my 90-day-late baddie just turned two years old.

Data points:

Experian FICO score: 690

Average age of accounts: 4+ years. Age of longest account: 20+ years.

Income: $22K (Loooowwwww.)

Debt to income ratio: LOOOWWWW. I'm going to guess 5% or something.

Utilization: 3%

Inquiries in the last year: 3 or so? Not sure, but most of them have aged out.

Baddies: 90-day-late, two years old. Paid off less than full amount. No other baddies before or after.

AMEX has this optional line on their application where you can fill in your other assets (cash value). I was able to declare a nice sum because of the money that I finally got. That may have helped me, who knows.

I have a Cash Magnet card with $1K that was opened in February 2020. I've used it liberally but never carried much of a balance. I've been waiting to see if AMEX would offer me anything, but until recently, nada. Then a few weeks ago (early November) I got preapprovals for the travel cards (Delta Gold, Hilton, etc). None of the other cards had preapprovals.

Then I checked again yesterday, and as far as I can tell, EVERYTHING was suddenly preapproved! So I snapped up the Blue Cash Preferred with its $300 sign-up bonus. Highest interest rate (23.99 or something) but an $8K limit, which is more than enough for me! I don't intend to carry a balance so I don't care about the interest rate.

Thanks to everyone here, I knew to be patient and wait, and it paid off! Thanks so much!

EDITED TO ADD: I also have gotten some CLIs in the past few months: Amazon Store Card: originally $1700, increased to $4200. Capital One Quicksilver, originally $1K, increased to $1,100! (Woo hoo! A whopping $100!!!!)

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

AverageJoesCredit — Sat, 21 Nov 2020 12:18:13 GMT

Awesome! Im always happy when a fellow LIEr succeeds. Now if i could come into some money i could pay off my debt and see 800s lol. Thats a great limit. Enjoy

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Anonymous — Sat, 21 Nov 2020 14:24:38 GMT

Congrats on your approval!!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

CreditAggie — Sat, 21 Nov 2020 14:41:27 GMT

Congratulations on your approval and CLIs!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

M_Smart007 — Sat, 21 Nov 2020 14:56:30 GMT

Congratulations!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

gdale6 — Sat, 21 Nov 2020 15:02:49 GMT

Grats on the BCP and your CLIs

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Jannelo — Sat, 21 Nov 2020 15:10:31 GMT

Nice starting limit and approval. Congratulations!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

coreyb80 — Sat, 21 Nov 2020 15:16:55 GMT

Congrats on the approval!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

bergrides — Sat, 21 Nov 2020 15:48:52 GMT

Congrats on your approval! I love my BCP, especially for groceries. Even with burning through the 6K foor groceries early this year, I am at $421 cash back since January.

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

AllZero — Sat, 21 Nov 2020 15:53:27 GMT

Congratulations on your approval and CLIs!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Slabenstein — Sat, 21 Nov 2020 16:37:08 GMT

Congrats on your BCP.

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

cashorcharge — Sat, 21 Nov 2020 16:38:41 GMT

Terrific! Congratulations on your approval!🎉

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

CreditMagic7 — Sat, 21 Nov 2020 17:41:48 GMT

Happy Congrats! on the Amex BCP Approval!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Anonymous — Sat, 21 Nov 2020 19:21:42 GMT

Nice, @Anonymous! Congrats! Was that a hard or soft inquire for the BCP (2nd AmEx card)?

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Anonymous — Sat, 21 Nov 2020 21:30:18 GMT

Congratulations

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Anonymous — Sat, 21 Nov 2020 22:15:29 GMT

@Anonymous wrote:
Nice, @Anonymous! Congrats! Was that a hard or soft inquire for the BCP (2nd AmEx card)?

Thanks, RenalPresher! As far as I know, it was a soft pull. I have not gotten any alerts of a new inquiry.

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Anonymous — Sat, 21 Nov 2020 22:51:06 GMT

Appreciate the DP, @Anonymous! Thanks!

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

AverageJoesCredit — Sat, 21 Nov 2020 23:04:05 GMT

@Anonymous wrote:
Congrats on your approval!!

My friend im glad to see you passing by. Nobody does Doinit post like @Anonymous 😄

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Meanmchine — Sat, 21 Nov 2020 23:08:17 GMT

Congrats !

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Anonymous — Sun, 22 Nov 2020 02:58:17 GMT

@AverageJoesCredit wrote:
Awesome! Im always happy when a fellow LIEr succeeds. Now if i could come into some money i could pay off my debt and see 800s lol. Thats a great limit. Enjoy

@AverageJoesCredit Yeah, we LIErs have to stick together! I was helped a lot by getting out of debt through a once-in-a-lifetime inheritance, but most people don't get that. The thing was, I was still getting good cards before the debt was paid off. (Including an AMEX!!!) So I guess the moral of the story is, do the best with what you've got. I may be out of debt, but I have that 90-day late which will haunt me for the next five years. And yet I got another AMEX with a great sign-up bonus and a great starting limit (for someone as poor as me!). I'm very, very grateful, and appreciate all the advice and wisdom I've gotten on this forum.