topic Re: Amex pre-approvals which one is best ? in Credit Card Applications

Amex pre-approvals which one is best ?

MeN5 — Fri, 07 Aug 2020 00:26:46 GMT

The blue had solid apr 23.99 the rest was variable. Does high apr equal low limit?

Re: Amex pre-approvals which one is best ?

ChemE_Bear — Fri, 07 Aug 2020 00:31:05 GMT

I don't think so, I had the same APR for a $13,400 SL for the BCP.

Re: Amex pre-approvals which one is best ?

ccquest — Fri, 07 Aug 2020 00:42:07 GMT

Best offer in there or best card?

If best card, depends on if you want points or cash back and if you want cash back, what you want it on? BCE is 3% on groceries, 2% gas, and 1% everything else. If you have gas and grocery categories covered by another card better already, get the Cash Magnet for 1.5% back on everything instead.

Re: Amex pre-approvals which one is best ?

M_Smart007 — Fri, 07 Aug 2020 00:42:38 GMT

Pick the one that best fits your spending habits.

Re: Amex pre-approvals which one is best ?

Stralem — Fri, 07 Aug 2020 00:44:01 GMT

OP, what's your end goal? What are you looking for in a card?

Re: Amex pre-approvals which one is best ?

AllZero — Fri, 07 Aug 2020 00:49:16 GMT

@M_Smart007 wrote:
Pick the one that best fits your spending habits.

Re: Amex pre-approvals which one is best ?

MeN5 — Fri, 07 Aug 2020 01:00:29 GMT

@ChemE_Bear any derogs? Credit score? What is the blue card it has no welcome offer but says new launch at 23.99 apr

Re: Amex pre-approvals which one is best ?

MeN5 — Fri, 07 Aug 2020 01:01:01 GMT

@ChemE_Bear what is bcp

Re: Amex pre-approvals which one is best ?

MeN5 — Fri, 07 Aug 2020 01:03:40 GMT

@Stralem my end goal is to have a card with nice limit that I wouldn't mind growing old with lol

Re: Amex pre-approvals which one is best ?

M_Smart007 — Fri, 07 Aug 2020 01:11:35 GMT

@MeN5 wrote:
@ChemE_Bear what is bcp

https://www.americanexpress.com/us/credit-cards/card/blue-cash-preferred/

Re: Amex pre-approvals which one is best ?

ChemE_Bear — Fri, 07 Aug 2020 02:53:42 GMT

@MeN5 wrote:
@ChemE_Bear any derogs? Credit score? What is the blue card it has no welcome offer but says new launch at 23.99 apr

No derogatories, they pulled Experian Fico8 and I had a score of 722 at the time of application. Other info I posted in my approval post for that card:

-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: 1year11mo and AAoA:1year9mo

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

Blue Cash Preferred has a $95 AF but is 6% back on groceries up to $6k, 3% on streaming services, 1% on everything else.

Re: Amex pre-approvals which one is best ?

KLEXH25 — Fri, 07 Aug 2020 03:07:39 GMT

@ChemE_Bear wrote:
@MeN5 wrote:
@ChemE_Bear any derogs? Credit score? What is the blue card it has no welcome offer but says new launch at 23.99 apr
No derogatories, they pulled Experian Fico8 and I had a score of 722 at the time of application. Other info I posted in my approval post for that card:

-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: 1year11mo and AAoA:1year9mo
-3 inquiries (2 for car loan from September 2018, 1 for Discover IT)

Blue Cash Preferred has a $95 AF but is 6% back on groceries up to $6k, 3% on streaming services, 1% on everything else.

Actually, the BCP card earns:

6% cash back at U.S. supermarkets on up to $6,000 per year in purchases then it's 1%
6% on select U.S. streaming subscriptions
3% cash back at U.S. gas stations
3% on transit (e.g., taxis/rideshare, parking, tolls, trains, buses and more)
1% cash back on other purchases

Re: Amex pre-approvals which one is best ?

ChemE_Bear — Fri, 07 Aug 2020 03:10:45 GMT

@KLEXH25 wrote:
@ChemE_Bear wrote:
@MeN5 wrote:
@ChemE_Bear any derogs? Credit score? What is the blue card it has no welcome offer but says new launch at 23.99 apr
No derogatories, they pulled Experian Fico8 and I had a score of 722 at the time of application. Other info I posted in my approval post for that card:

-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: 1year11mo and AAoA:1year9mo
-3 inquiries (2 for car loan from September 2018, 1 for Discover IT)

Blue Cash Preferred has a $95 AF but is 6% back on groceries up to $6k, 3% on streaming services, 1% on everything else.
Actually, the BCP card earns:
6% cash back at U.S. supermarkets on up to $6,000 per year in purchases then it's 1%
6% on select U.S. streaming subscriptions
3% cash back at U.S. gas stations
3% on transit (e.g., taxis/rideshare, parking, tolls, trains, buses and more)
1% cash back on other purchases

Oh you're totally right, hah. I have an electric vehicle so I forget about the gas/transit benefits and under-reported the streaming cash back.

Re: Amex pre-approvals which one is best ?

KLEXH25 — Fri, 07 Aug 2020 03:12:34 GMT

@MeN5 its hard to answer your question without knowing more about your profile (scores, derogs, inquiries, other cards & limits, credit history, etc). Also, what's best for one person may not be best for another. Any card can have a high limit and grow with you, if your profile is worthy of that. However, I think you'll find that most lenders are not being as generous as they were previously. But Amex can certainly grow if you treat them well.

Re: Amex pre-approvals which one is best ?

MeN5 — Fri, 07 Aug 2020 03:19:43 GMT

@KLEXH25 my score is 661 I do have derogs 2 BK one falls off in Nov a few charge offs one I paid and will be deleted soon my highest limit is 7000 care credit and 5000 dcu that hasn't reported yet

Re: Amex pre-approvals which one is best ?

SecretAzure — Fri, 07 Aug 2020 20:43:10 GMT

Just wanted to chime in with an additional benefit of the BCE. It also provides 2% at select department stores, not just gas stations. Here is the list of stores below. If you shop at these stores often enough, 2% isn't too bad.

This card is pretty good and the credit limit grows quickly. Eventually, they may offer you a no-pull upgrade to the BCP that many people love for its 6% back at groceries. This is the definition of a card that grows with you.

U.S. Select Major Department Stores

You will earn additional rewards ONLY for purchases made in the U.S. at the following list of department stores that accept the Card and have these specific names:

Bealls
Belk
Bloomingdale's
Bon Ton Stores
Boscov's
Century 21 Department Stores
Dillard's
J.C. Penney (JCP)
Kohl's
Lord & Taylor
Macy's
Neiman Marcus
Nordstrom
Saks Fifth Avenue
Stein Mart