topic Re: AMEX BCP Approval :) with generous SL for Newbie in Credit Card Approvals

AMEX BCP Approval :) with generous SL for Newbie

DCSportsJunkie — Mon, 16 May 2022 20:12:25 GMT

Hello there....I'm a long time lurker and am posting for the very first time. I apologize in advance if I ramble... I've been such a nerd lately (in the best way possible) reading up on all types of information on this forum - thank you all for all the encourgement, data points, general information, comparisons, rewards tips, CR charts, you name it! I've learned so much just by reading up on the vast amount of knowledge that's being shared. I've been clawing my way through my rebuild since about 2016/2017. Slow and steady...

I've been gardening since March 2021, when I was last approved for my NFCU Platinum, and with all the reading I've been doing I started getting the application itch. After much research, and after vascilating for weeks, I finally landed on the Amex BCP card since I spend a ridiculous amount of money on groceries and their SUB is $350 cash back if you spend $3K in the first 6 months. Although I do shop (and spend an obscene amt of money) at Costco, I also hit up plenty of other grocery stores and I think with the 6% cash back on groceries and streaming (Netflix, Disney+, Pandora, YouTube TV) and 3% transit (I often travel up and down 95 and pay tolls, pay for parking or ride metro occasionally when I have to go to the office) so I felt like it was just a really good fit for my needs. Plus, I don't have Amex in my rotation and have 3 Visa's, so I really want to establish a relationship (back in the day having an Amex was equivalent to modern day adulting - as an 80's baby the nostalgia always gets me). I'm not sure if I want to establish a relationship with Chase just yet (read all sorts of stories about limits being slashed, low SL, CLI HP if I remember correctly). I think I'm going to wait a little bit.

I completed the prequal with Amex and all sorts of cards popped up these past few weeks, but then all of a sudden did the prequal again a few days ago, and they couldn't find any offers for me but no profile change since my last prequal. Figured, just go for it, most of my my inquiries fell off (0/24 EX, 0/24 EQ, 1/24 TU) from when DH and I were mortgage shopping, so why not. Was hoping to squeeze in with a 1-2K SL or even prepped myself for a denial. I was pleasantly surprised. APPROVED! However, the approval didn't show me the SL, just when I can expect my card to arrive (I applied on my phone through a referral from my cousin who has the BCE). So I dug around and happened to stumble accros the fine details...$10K SL! I hadn't felt this kind of credit card approval high since last year LOL.

The ONLY con is that they pulled TU and minutes later I got notification that they also pulled EX....bummer Most of what I've seen in the forums point to EX, so I wasn't expecting a double whammy to my CR. BUT, I'll take the two inquiries for a budding relationship with Amex and collect my SUB and cash back as I buy my groceries, gas, and pay my bills. I'll make sure to water (lots) and watch my BCP grow. Hopefully, for anyone else out there, my post gives you a bit of encouragement. I'm happy to say I've scratched that itch and it was successful. Now it's back to the garden I go...

My credit score is sitting at 701EX, 698 EQ, and 669 TU. Add'l DPs: a CO recording for $890 that will fall off in July, several late payment from a car loan that was paid off in full in 2018, $90K in student loans that are currently in deferral, 59% util - but mostly due to an AU card, no lates since 2018 on all 5 revolving accts. AAoA - 8 years

PS - I saw SUB on Amex's website for BCP for both $300 CB after you spend $3K within the first 6 months AND $350 CB for the same requirements. If you do plan on applying make sure you hit that application for the $350, unless you don't mind leaving $50 on the table.

Re: AMEX BCP Approval :) with generous SL for Newbie

CreditMagic7 — Mon, 16 May 2022 06:13:05 GMT

Congratulations on your Amex BCP Card Approval!!

Re: AMEX BCP Approval :) with generous SL for Newbie

KingRue8500 — Mon, 16 May 2022 06:19:53 GMT

Congrats on your AMEX Blue Cash Preferred approval

Re: AMEX BCP Approval :) with generous SL for Newbie

Jordan23ww — Mon, 16 May 2022 06:51:20 GMT

Congratulations on your approval and fantastic starting limit! This was my first Amex card too and I absolutely love it! A great thing about Amex is once you're in they usually don't hard pull you again when you apply for more of their cards in the future!

Re: AMEX BCP Approval :) with generous SL for Newbie

FireMedic1 — Mon, 16 May 2022 08:58:52 GMT

Congrats on your new BCE. Using mine right now to hit the SUB.

Re: AMEX BCP Approval :) with generous SL for Newbie

Binbinimiwi — Mon, 16 May 2022 09:52:25 GMT

Congratulations!!

Re: AMEX BCP Approval :) with generous SL for Newbie

bigseegar — Mon, 16 May 2022 12:43:13 GMT

Congrats and hopefully that $10K SL that you "stumbled" across sticks when you receive your card as that seems way out of line for AmEx given your DP's. Also remember on the BCP the 6% cash back on groceries is only for the first $6K after that it drops to 1%. Also yeah AmEx almost always does a double pull of TU/EX on your first card. Good news is though after that nearly always (I say nearly always cause there is also always a slight chance they could HP) any further cards and CL request will be SP's.

Re: AMEX BCP Approval :) with generous SL for Newbie

coreyb80 — Mon, 16 May 2022 13:09:19 GMT

Congrats on the approval!

Re: AMEX BCP Approval :) with generous SL for Newbie

Danmae777 — Mon, 16 May 2022 13:23:29 GMT

Congratulations on your new approval

Re: AMEX BCP Approval :) with generous SL for Newbie

Mdowning30 — Mon, 16 May 2022 13:44:33 GMT

Congrats with your first Amex i know the feeling because im still fresh on mine ! Sounds like you can use the American Express Green Card for your commute needs.

Re: AMEX BCP Approval :) with generous SL for Newbie

DCSportsJunkie — Mon, 16 May 2022 13:44:45 GMT

Thanks everyone for the positive vibes!

@Jordan23ww I've got plans for my Amex and I'm hoping that I'll love it as much as others, such as yourself do.

@bigseegar I was quite shocked myself to see that SL 1) my score isn't high by any means 2) I'm brand new to AMEX. I was actually expecting an entry level SL and was prepared to work my way to a 3x CLI. I, too, hope it sticks. Looks like they saw something in my profile that they were comfortable enough in extending a healthy SL. Either that or hitting the apply button near midnight on a Sunday caught them off guard

Re: AMEX BCP Approval :) with generous SL for Newbie

gdale6 — Mon, 16 May 2022 13:55:42 GMT

Grats on your BCP approval!!

Re: AMEX BCP Approval :) with generous SL for Newbie

Elpadrino1 — Mon, 16 May 2022 14:00:20 GMT

Congratulations on your Amex approval!!

Re: AMEX BCP Approval :) with generous SL for Newbie

TSlop — Mon, 16 May 2022 14:32:00 GMT

Congrats on your approval!

Re: AMEX BCP Approval :) with generous SL for Newbie

SEAlifer — Mon, 16 May 2022 16:39:44 GMT

Congratulations!

Re: AMEX BCP Approval :) with generous SL for Newbie

greatscott85 — Mon, 16 May 2022 16:44:11 GMT

Congratulations! As someone almost completely invested in the Amex ecosystem, I really enjoy it! If only Costco would take back Amex haha

Re: AMEX BCP Approval :) with generous SL for Newbie

DCSportsJunkie — Mon, 16 May 2022 16:55:26 GMT

@greatscott85 Thanks! I know right? I'm only a few decades late...and a Discover card exclusivity period as well

Re: AMEX BCP Approval :) with generous SL for Newbie

Yasselife — Mon, 16 May 2022 16:59:46 GMT

Congratulations on your Amex approval!!@Elpadrino1

Re: AMEX BCP Approval :) with generous SL for Newbie

CreditAggie — Mon, 16 May 2022 17:42:21 GMT

Congratulations on your Amex BCP approval!

Re: AMEX BCP Approval :) with generous SL for Newbie

SouthJamaica — Mon, 16 May 2022 18:53:08 GMT

@DCSportsJunkie wrote:
Hello there....I'm a long time lurker and am posting for the very first time. I apologize in advance if I ramble... I've been such a nerd lately (in the best way possible) reading up on all types of information on this forum - thank you all for all the encourgement, data points, general information, comparisons, rewards tips, CR charts, you name it! I've learned so much just by reading up on the vast amount of knowledge that's being shared. I've been clawing my way through my rebuild since about 2016/2017. Slow and steady...

Long story short, I have been gardening since March 2021, when I was last approved for my NFCU Platinum, and with all the reading I've been doing I started getting the itch....the application itch. After much research, and after vascilating for weeks, I finally landed on the Amex BCP card since I spend a ridiculous amount of money on groceries and their SUB is $350 cash back if you spend $3K in the first 6 months. Although I do shop (and spend an obscene amt of money) at Costco, I also hit up plenty of other grocery stores and I think with the 6% cash back on groceries and streaming (Netflix, Disney+, Pandora, YouTube TV) and 3% transit (I often travel up and down 95 and pay tolls, pay for parking or ride metro occasionally when I have to go to the office) so I felt like it was just a really good fit for my needs. Plus, I don't have Amex in my rotation and have 3 Visa's, so I really want to establish a relationship (back in the day having an Amex was equivalent to modern day adulting - as an 80's baby the nostalgia always gets me). I'm not sure if I want to establish a relationship with Chase just yet (read all sorts of stories about limits being slashed, low SL, CLI HP if I remember correctly). I think I'm going to wait a little bit. I did the prequal with Amex and all sorts of cards popped up these past few weeks, but then all of a sudden did the prequal again a few days ago, and they couldn't find any offers for me but no profile change since my last prequal. Figured, just go for it, most of my my inquiries fell off (0/24 EX, 0/24 EQ, 1/24 TU) from when DH and I were mortgage shopping, so why not. Was hoping to squeeze in with a 1-2K SL or even prepped myself for a denial. I was pleasantly surprised. APPROVED! However, the approval didn't show me the SL, just when I can expect my card to arrive (I applied on my phone through a referral from my cousin who has the BCE). So I dug around a bit and happened to stumble accros the fine details...$10K SL! I hadn't felt this kind of credit card approval high since last year LOL. The ONLY con is that they pulled TU and minutes later I got notification that they also pulled EX....bummer . Most of what I've seen in the forums point to EX, so I wasn't expecting a double whammy to my CR. BUT, I'll take the two inquiries for a budding relationship with Amex and collect my SUB and cash back as I buy my groceries, buy gas, and pay my bills. I'll make sure to water (lots) and watch my BCP grow. Hopefully, for anyone else out there, my post gives you a bit of encouragement. I'm happy to say I've scratched that itch and it was successful. Now it's back to the garden I go...

My credit score is sitting at 701EX, 698 EQ, and 669 TU. Add'l DPs: a CO recording for $890 that will fall off in July, several late payment from a car loan that was paid off in full in 2018, $90K in student loans that are currently in deferral, 59% util - but mostly due to an AU card, no lates since 2018 on all 5 revolving accts. AAoA - 8 years

PS - I saw SUB on Amex's website for BCP for $300 CB after you spend $3K within the first 6 months AND $350 CB for the same requirements. If you do plan on applying make sure you hit that application for the $350, unless you don't mind leaving $50 on the table.

Can you please break that up into smaller paragraphs?