topic Re: Should I apply for Amex BCP or wait 2 more months? in Credit Card Applications

Should I apply for Amex BCP or wait 2 more months?

Drifter73 — Sun, 10 Apr 2022 04:29:04 GMT

My current file is below. I would love to have the Amex BCP for groceries, but hesitant to apply.

I have no prequaliying offers, but have read people get approved without one.

My 3 current scores are in my sig.

Is 7/12 - 1/6 + My scores good enough to be approved or should I wait 2 months for it to drop to 6/12 - 0/6?

Anyone have experience applying for Amex cards with a similar profile?

My overall Utilization is currently 4%. In two to 3 weeks it may jump to 14%. So if I'm going to app early it's probably best to do it while I'm at 4%.

I'm also, currently AZEO, but won't be in 2 to 3 weeks.

Maybe I'm just itching in the garden... either way, it would be a very useful card to add to my file. It would get daily usage and pif twice a month.

It may curb my app craving for another 4 to 7 months.

I don't want another HP if denied.

Note: Amex Gold with 5k was burned back in 1993. Went through x2 collections agencies and fell off my file in 2000. My file went blank until 2020 when I financed a car. Then decided to rebuild with a blank no credit file.

Not sure how long their internal memory is, but its been 25+ years.

Re: Should I apply for Amex BCP or wait 2 more months?

TheFIGuy — Sun, 10 Apr 2022 04:20:55 GMT

From the info we are privy to, I see no issues.

Re: Should I apply for Amex BCP or wait 2 more months?

CYBERSAM — Sun, 10 Apr 2022 04:22:48 GMT

AZEO for a month and once your score goes up few more points you can apply and be sure to get approve.

Re: Should I apply for Amex BCP or wait 2 more months?

Drifter73 — Sun, 10 Apr 2022 04:28:09 GMT

@CYBERSAM wrote:
AZEO for a month and once your score goes up few more points you can apply and be sure to get approve.

I'm actually AZEO right now. I'll update that in my post.

Re: Should I apply for Amex BCP or wait 2 more months?

Trini88 — Sun, 10 Apr 2022 06:16:04 GMT

When I got the BCP I was 6/6, 6/12, 8/24 on new accounts. Amex saw that I was 4/6, 4/12, 6/24 on new accounts because my SavorOne and Walmart MC had not reported to the bureaus yet. They pulled from Experian which had 12 or 13 inquiries I believe at the time.

Re: Should I apply for Amex BCP or wait 2 more months?

Drifter73 — Sun, 10 Apr 2022 13:58:14 GMT

Update: I let the itch get the best of me.

I applied and was denied instantly. They will mail reason within 10 days.

Back to the garden I guess. That was a painful hp I'm sure.

Re: Should I apply for Amex BCP or wait 2 more months?

W261w261 — Sun, 10 Apr 2022 14:36:23 GMT

Are you sure you got a HP? Sounds like they hit the blacklist first and after your name was on it the process went no further?

Re: Should I apply for Amex BCP or wait 2 more months?

SDMarik — Sun, 10 Apr 2022 15:31:01 GMT

Note: Amex Gold with 5k was burned back in 1993. Went through x2 collections agencies and fell off my file in 2000. My file went blank until 2020 when I financed a car. Then decided to rebuild with a blank no credit file.

Not sure how long their internal memory is, but its been 25+ years.

If anythings might get in the way it's this, even though its been a while, amex doesn't like to forget things. The 725 on EX is good, becuase 99% of the time that is what theyre pulling, however in your case since you have a history with them, they might pull another one also. The Aaoa being 8 months might be tricky as well.

If it was me I would hang around in the garden and rack up payment history on the current cards that you have, none of the cards are even 1 year old. You can certainly get approved without anything on their pre-qual site, but with your current file it might be best to wait, especially because your score might be a little extra sensitive to HPs right now.

If you do decide to pull the trigger and are approved please let us know, these would be great DP's

Good luck!

Edit: Just saw your post about the denial, sorry , but you'll get em next time.

Depending on the reason in the mail, might be worth a call to recon. If you get around to it and want to post the reasons on the denail letter that would be great!

Re: Should I apply for Amex BCP or wait 2 more months?

Drifter73 — Sun, 10 Apr 2022 15:49:37 GMT

Update: just got the digital decline reason and it states it's due to them closing my account 25+ years ago with a 5k Balance owed.

Apparently, they have super long memory and unforgiving.

Re: Should I apply for Amex BCP or wait 2 more months?

Drifter73 — Sun, 10 Apr 2022 15:52:24 GMT

@W261w261 wrote:
Are you sure you got a HP? Sounds like they hit the blacklist first and after your name was on it the process went no further?

No hp at all after checking. It was definitely a black list full stop incident.

Re: Should I apply for Amex BCP or wait 2 more months?

Trini88 — Sun, 10 Apr 2022 16:26:40 GMT

@Drifter73 wrote:
@W261w261 wrote:
Are you sure you got a HP? Sounds like they hit the blacklist first and after your name was on it the process went no further?
No hp at all after checking. It was definitely a black list full stop incident.

Yeah I was about to say that's crazy if they HP you. Oh well, never knew their memory was that long 😮

Re: Should I apply for Amex BCP or wait 2 more months?

Drifter73 — Sun, 10 Apr 2022 18:53:19 GMT

Update: decided to use a 3rd party on the Amex network to get around the blacklist for now and was approved instantly: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/CreditOne-AE-5-Synchrony-MC-2/td-p/6518796

Maybe after a year using their network on a 3rd party they will reconsider.

Re: Should I apply for Amex BCP or wait 2 more months?

FinStar — Sun, 10 Apr 2022 21:19:58 GMT

@Drifter73 wrote:
Update: decided to use a 3rd party on the Amex network to get around the blacklist for now and was approved instantly: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/CreditOne-AE-5-Synchrony-MC-2/td-p/6518796

Maybe after a year using their network on a 3rd party they will reconsider.

@Drifter73-- they do not. The network affiliation does not sway their decision on the odds of future approvals, unfortunately. It will based upon the existing blacklist and when AENB decides to purge your name/profile from that list. Some folks have been on the naughtly list for longer than 30 years while others have been able to be successfully approved in a shorter timeframe. Only time will tell.

Re: Should I apply for Amex BCP or wait 2 more months?

OmarGB9 — Sun, 10 Apr 2022 22:47:28 GMT

@Drifter73 wrote:
Update: decided to use a 3rd party on the Amex network to get around the blacklist for now and was approved instantly: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/CreditOne-AE-5-Synchrony-MC-2/td-p/6518796

Maybe after a year using their network on a 3rd party they will reconsider.

CreditOne Amex has nothing to do with Amex the bank (AENB), unfortunately. Hence your name on the blacklist still exists and will remain for who knows how long. But congrats on the approvals nonetheless.

Re: Should I apply for Amex BCP or wait 2 more months?

Remedios — Sun, 10 Apr 2022 22:53:04 GMT

Right, having Credit One Amex will not help but paying Amex does help.

Re: Should I apply for Amex BCP or wait 2 more months?

W261w261 — Sun, 10 Apr 2022 23:29:21 GMT

I bet they'd let you back in for, say, $5k.

Re: Should I apply for Amex BCP or wait 2 more months?

TheRedHat — Mon, 11 Apr 2022 03:08:20 GMT

Following up on what the previous poster said. Just throwing this out there to see where it lands. Have you tried calling and asking them if you could pay off the balance that you owe them? (Assuming you haven't already paid it?)

Re: Should I apply for Amex BCP or wait 2 more months?

Drifter73 — Mon, 11 Apr 2022 03:38:31 GMT

@TheRedHat wrote:
Following up on what the previous poster said. Just throwing this out there to see where it lands. Have you tried calling and asking them if you could pay off the balance that you owe them? (Assuming you haven't already paid it?)

A collections agency bought my debt from them (mid to high % to try and profit off collecting). So whatever % of the $5k that wasn't paid by the debt agency is what's actually left or written off as a lose 2 decades ago. The agency that bought it, sold it to a second agency for a much lower %.

In short, the debt was partially paid each time it changed hands.

I may call them in a day or two to see if any balance remained, if it was written off as a lose, or what my options may be 25+ years later, handling finances better and more responsibly.

Thanks for the suggestion.

Re: Should I apply for Amex BCP or wait 2 more months?

bigseegar — Mon, 11 Apr 2022 14:23:59 GMT

@Drifter73 wrote:
@TheRedHat wrote:
Following up on what the previous poster said. Just throwing this out there to see where it lands. Have you tried calling and asking them if you could pay off the balance that you owe them? (Assuming you haven't already paid it?)
A collections agency bought my debt from them (mid to high % to try and profit off collecting). So whatever % of the $5k that wasn't paid by the debt agency is what's actually left or written off as a lose 2 decades ago. The agency that bought it, sold it to a second agency for a much lower %.

In short, the debt was partially paid each time it changed hands.

I may call them in a day or two to see if any balance remained, if it was written off as a lose, or what my options may be 25+ years later, handling finances better and more responsibly.

Thanks for the suggestion.

"Written Off" doesn't mean the debt just went away and you no longer owe. Written off is simply a tool credit companies use to get bad debt off their books but you still owe it and thats what AmEx will tell you. Pay it and they may let you back in, maybe. I was Blacklisted for 20 years and I didn't even owe them any money, no charge off's, nor did they ever lose a dime on me. I was Blacklisted because I was in over my head credit wise and AmEx saw my failure coming and closed all of my accounts and Blacklisted me. I had no one to blame but me. As to the Credit One AmEx branded card, as others have said, you aren't back in with AmEx you are simply in with C1 and nothing more. AmEx won't even see you history with that card.

Re: Should I apply for Amex BCP or wait 2 more months?

Iron1 — Wed, 04 May 2022 05:17:14 GMT

I have read about the blacklist but I had no idea AMEX goes back that far... I ghosted my first AMEX card back in 1988, can't remember what the balance was and completely forgot that I ever had an AMEX until I apped for the Gold card in 2018..... when the card arrived it had 88 embossed on the front and then I remembered I had one when I was in college..... I also got the AMEX Blue Everyday in 2020.... not sure how I got through the system