topic Re: American Express Blue Cash Everyday approval in Credit Card Approvals

American Express Blue Cash Everyday approval

lightnut — Sun, 21 May 2023 13:27:11 GMT

Hi, here are my data points for the Amex Blue Cash Everyday card, which I was approved for on April 15th. I wasn't approved though on the first try, as I had applied 2 months prior on February 2nd, so I'll also share those data points too.

When I initially applied in February, I checked the prequalifer tool but no cards showed up. I had read that sometimes you might still get approved for a card that doesn't show up on that list, so I went to the Blue Cash Everyday pre-approval page to directly apply, but I was instantly denied. In the denial letter, it states it was due to my Experian Fico score, which was 655 at the time. When I checked my credit reports, there was a soft inquiry for both Experian and TransUnion.

Here are the Feb 2nd key factors contributing to my 655 Experian score:
- There is a serious delinquency and derogatory public record or collection agency record on your report
- The length of time your accounts have been established
- The ratio of revolving account balances to their credit limits is too high
- The ratio of loan balances to the loan amounts is too high

Regarding the above, I have two charge offs in 2020 which were paid in settlement less than full in 2021 and one collection paid in full in 2022. I had opened 3 cards in Nov 2022, and all 3 cards had a balance with two of the new cards over 30% utilization. My oldest card was opened in 2016 (had a balance less than 30% and one 30 day late) and I'm an authorized user on a card since 2002 (no balance). For loans, I have a car loan started in Mar 2021. Also, my inquiries at the time were Experian 3, Equifax 2, TransUnion 1.

In my denial letter, it said, "We realize this may not be the outcome you hoped for. It's been our experience that applicants who were not approved for a new account at one time may qualify in the future. We invite you to apply again at a time when your circumstances have changed". So...that's what I intended to do, to apply again in the future, though I just didn't expect to apply again as soon as I did.

In April, my Experian score improved to 665. I think mainly it was because I brought my utilization down on all my cards, so that now they were all under 30%. So I decided to check the prequalifying page again to see if anything changed. This time I was prequalified for a couple of the cards, the Hilton Honors and the Delta cards. I had read that the co-branded cards have a little more flexibility in the underwriting so it made sense if any card would appear, it might be one of those, but I just didn't think I'd really use those cards, so I didn't apply and instead went to go look at the other cards.

Then that's when it appeared... a 'Special Offer for You' for the Blue Cash Everyday card! Wow... where did that come from? The offer was the same as far as having a 0% intro APR for 15 months (it'll be 29.74% thereafter), but instead of $200 cash back after spending $2000 in 6 months, I would earn $250.

Still though, I was really nervous to apply, especially with my 665 score and having been turned down just two months prior. Then again... I also have read posts of people getting approved for the Blue Cash Everyday card with my same exact score, and also... flashback to the fact sometimes you can get approved for a card that hadn't been shown on the prequalifier list. While on the flip side of that... I also wasn't entirely sure if the offer was personalized for me or not, since I've also read posts about people going incognito and also seeing special offers. What a conundrum... but, with all that considered, and the fact it said the offer might not be there later if I leave the page, I decided to just go for it and.. yippee! I was approved, and the limit I was approved for was $5000. They pulled both Experian and TransUnion, though just referenced the Experian score in the approval letter.

Here are the Apr 15th key factors contributing to my 665 Experian score:
- Serious delinquency, and public record or collection filed
- Length of time accounts have been established
- Number of accounts with delinquency

I'm pretty sure they pulled my Fico 8 score for both applications as the range was 300-850 and the score matched my Experian Fico 8 score both times. Is that typical though to have different wording to describe the same things? Plus there's no mention of my car loan balance being too high anymore, though it really hadn't changed all that much in the two months time (unless maybe it reaching 2 years old in March was a milestone?). Am I on a different scorecard perhaps? If anyone knows, I'm all ears... and once again, hope this helps, and good luck to you as well with your future applications

Re: American Express Blue Cash Everyday approval

coreyb80 — Sun, 21 May 2023 14:47:54 GMT

Congrats on the approval!

Re: American Express Blue Cash Everyday approval

NoMoreDebt — Sun, 21 May 2023 15:00:08 GMT

congrats on the approval

Re: American Express Blue Cash Everyday approval

CreditMagic7 — Sun, 21 May 2023 15:11:20 GMT

Congrats on your AmEx BCE Approval!

Re: American Express Blue Cash Everyday approval

Mones — Sun, 21 May 2023 16:08:19 GMT

Congrats on the BCE approval! 0-$5k in just two months! It really shows we should continue trying for what we want!

Re: American Express Blue Cash Everyday approval

M_Smart007 — Sun, 21 May 2023 16:17:34 GMT

Congrats on your BCE Approval!

Re: American Express Blue Cash Everyday approval

JoeRockhead — Sun, 21 May 2023 16:24:08 GMT

Nice approval, congratulations!

Re: American Express Blue Cash Everyday approval

alextercero — Sun, 21 May 2023 16:49:30 GMT

Congrats on the approval

Re: American Express Blue Cash Everyday approval

Creditwiser — Sun, 21 May 2023 17:20:27 GMT

Congrats on your Amex approval !

Re: American Express Blue Cash Everyday approval

Legally_Speaking2512 — Sun, 21 May 2023 18:16:59 GMT

Thank you for the DPs. This is a great success story and definitely warrants a big CONGRATULATIONS! WOO-HOO

Re: American Express Blue Cash Everyday approval

Danmae777 — Sun, 21 May 2023 18:55:23 GMT

Congratulations on your new Amex.

Re: American Express Blue Cash Everyday approval

CreditAggie — Sun, 21 May 2023 21:41:16 GMT

Congratulations on your Amex approval!

Re: American Express Blue Cash Everyday approval

WhatsHisName — Sun, 21 May 2023 23:23:42 GMT

Quite a story Biting my nails sitting on the edge of my chair.

Congrats

Re: American Express Blue Cash Everyday approval

Linnaea — Mon, 22 May 2023 00:28:00 GMT

Congratulations. That is exciting. Question if anyone has a picture of qualify offerings. I know the banner is an awesome and better odds thing... I get the non blue everyday and Hilton Honors card.. then a list under that titled browse all cards. This is on member log in .. not public page.

I had a card with them and it's paid off in full. So not sure ... I want to wait for some other items to bump my score. But don't won't to burn a hard pull.

Re: American Express Blue Cash Everyday approval

Linnaea — Mon, 22 May 2023 00:29:48 GMT

Congratulations. That is exciting....

Question if anyone has a picture of qualify offerings. I know the banner is an awesome and better odds thing... I get the non-blue everyday and Hilton Honors card.. then a list under that titled browse all cards. This is on member log in .. not public page.

I had a card with them and it's paid off in full. So not sure ... I want to wait for some other items to bump my score. But don't won't to burn a hard pull.

Re: American Express Blue Cash Everyday approval

Zoostation1 — Mon, 22 May 2023 05:05:12 GMT

COngrats on the approval!

Re: American Express Blue Cash Everyday approval

DXness — Mon, 22 May 2023 07:54:23 GMT

Congrats! Above 660 you start to get (back) into good credit / "prime" territory, so a lot of doors open. They probably used an EX FICO 8 score for your decision and the TU pull was just to make sure. The double pull is common with derog profiles (they did that to me as well).

Don't read too much into the negative reason codes, they are typically computer-generated and sometimes this can result in odd reasons, more so as you go down the list. Sometimes, a cited reason is costing you over 100 points, sometimes it is costing you 5 points.

Enjoy your BCE! It can grow really, really fast. You can ask for a 3x CLI 91-100ish days after activating the card and another 3x on top of that 6 months later. If you're willing to prove income, you could have a $45K CL in less than a year!

Re: American Express Blue Cash Everyday approval

MartyWrite75 — Mon, 22 May 2023 14:14:12 GMT

Congratulations on your approval!

Re: American Express Blue Cash Everyday approval

Rdbeetle — Mon, 22 May 2023 17:18:00 GMT

Congrats on your AMEX BCE approval!!!

Re: American Express Blue Cash Everyday approval

user979797 — Mon, 22 May 2023 17:34:44 GMT

Congrats to you on your surprise approval with Amex great card and SUB