topic Re: AMEX Blue Cash: Approval???? in Credit Cards

AMEX Blue Cash: Approval????

Chris679 — Fri, 26 Mar 2010 08:41:40 GMT

I really want this card but I'm worried about being approved and was wondering if anyone has any ideas. My Equifax FICO is 701 currently, but should go up a little before I would be applying due to my last collection being deleted. I'll list the other things that I think may work for or against me:

PROS

45k per year income and my only debt is $8300 left on my car

4 accounts in good standing with little to no balance on any of them, no late payments

Only 2 inquiries on EX report

CONS

Old CapOne account that was settled for less than full balance in 08, closed

All current accounts are only 1.5-2 years old

10 inquiries on TU report (only 2 in past year)

I am wondering if I'll be OK to apply now or should I wait until July when 8 of my TU inquiries will drop off. I think my plan will be to wait for FICO to hit my target of 720 and just bite the bullet. Any advice would be appreciated.

Chris

Re: AMEX Blue Cash: Approval????

score_building — Fri, 26 Mar 2010 10:11:08 GMT

The relatively recent 'settled for less' acct may be even more problematic for amex than the inqs. YMMV.

Re: AMEX Blue Cash: Approval????

DI — Fri, 26 Mar 2010 11:32:58 GMT

You won't get approved. That one derog is enough for AMEX to say no. I had one derog and got declined. The next month, I applied again, after I got the derog deleted and got approved for $2000. Got a CLI 3 months later to $2600.

Re: AMEX Blue Cash: Approval????

tray — Fri, 26 Mar 2010 12:32:08 GMT

Have you tried the pre-selected card site first, to see if any offers are available. I think that last derog will probable hurt you also especially too since you want a non-charge card. Have you thought about seeing if you would be able to at least get a charge card just to get your foot in the door and then you could build a relationship with AMEX for better cards down the road.

Re: AMEX Blue Cash: Approval????

Anonymous — Fri, 26 Mar 2010 12:42:29 GMT

I would try there pre approval link first before i apply. It's just a soft.

https://www201.americanexpress.com/secure/my-special-offers

Re: AMEX Blue Cash: Approval????

Anonymous — Fri, 26 Mar 2010 13:09:43 GMT

@DI wrote:
You won't get approved. That one derog is enough for AMEX to say no. I had one derog and got declined. The next month, I applied again, after I got the derog deleted and got approved for $2000. Got a CLI 3 months later to $2600.

As the great Lee Corso would say, "not so fast". I was approved for a $3000 AMEX Blue Cash 2 months ago with similar scores. Approx. 720 EX and high 600s on TU & EQ (which are irrelevant since AMEX typically pulls EX) I also had about a 35% total UTIL. On my EX report, I had one 30 day late on a Cap1 2.5 years ago and two 30 day lates on an Orchard just over 2.5 years ago.

I got an instant approval...not really sure why I applied in the first place. I guess I just wanted that high from the anticipation of the response after hitting the "submit" button on the CC app. To my surprise though, instant approval. One other factor, I have had an AMEX Gold card since October 2009 (which I ran a few hundred dollars on every month and paid off days after the balance reported every time)

Re: AMEX Blue Cash: Approval????

Anonymous — Fri, 26 Mar 2010 15:56:36 GMT

@Anonymous wrote:
As the great Lee Corso would say, "not so fast". I was approved for a $3000 AMEX Blue Cash 2 months ago with similar scores. Approx. 720 EX and high 600s on TU & EQ (which are irrelevant since AMEX typically pulls EX) I also had about a 35% total UTIL. On my EX report, I had one 30 day late on a Cap1 2.5 years ago and two 30 day lates on an Orchard just over 2.5 years ago.

I got an instant approval...not really sure why I applied in the first place. I guess I just wanted that high from the anticipation of the response after hitting the "submit" button on the CC app. To my surprise though, instant approval. One other factor, I have had an AMEX Gold card since October 2009 (which I ran a few hundred dollars on every month and paid off days after the balance reported every time)

I had like 30 inquiries on my EX report when they approved me for the Amex Gold this past week. I know there tight but hey there might be a chance of approval.

Re: AMEX Blue Cash: Approval????

haulingthescoreup — Sat, 27 Mar 2010 01:08:18 GMT

Just realize that American Express doesn't use FICO scores. They have their own home-grown scoring algorithm, and they go by your reports, especially Experian. (Sometimes they pull EQ and/or TU as well.)

Get your reports as clean as possible before applying with American Express.

Re: AMEX Blue Cash: Approval????

Anonymous — Sat, 27 Mar 2010 08:48:36 GMT

October 2008.. Applied for Delta Skymiles credit card from American Express.. file pulled, EX, Fico score if I remember it right.. High 680's, Derog on report.. 3 judgments 4-5 yrs unpaid. 2 chargoffs 5-6 year. Income, 43K

Outcome: Approved 8K highest TL at the time.

I found it shocking I was approved

Re: AMEX Blue Cash: Approval????

smallfry — Sat, 27 Mar 2010 18:10:59 GMT

@Anonymous wrote:
October 2008.. Applied for Delta Skymiles credit card from American Express.. file pulled, EX, Fico score if I remember it right.. High 680's, Derog on report.. 3 judgments 4-5 yrs unpaid. 2 chargoffs 5-6 year. Income, 43K

Outcome: Approved 8K highest TL at the time.

I found it shocking I was approved

October 2008? Try that again now. I dare ya.

Re: AMEX Blue Cash: Approval????

score_building — Sat, 27 Mar 2010 18:25:20 GMT

@smallfry wrote:

@Anonymous wrote:
October 2008.. Applied for Delta Skymiles credit card from American Express.. file pulled, EX, Fico score if I remember it right.. High 680's, Derog on report.. 3 judgments 4-5 yrs unpaid. 2 chargoffs 5-6 year. Income, 43K

Outcome: Approved 8K highest TL at the time.

I found it shocking I was approved

October 2008? Try that again now. I dare ya.

I double dog dare ya!!

Re: AMEX Blue Cash: Approval????

Anonymous — Sat, 27 Mar 2010 18:50:17 GMT

Can someone second that pre-approval link is only a soft pull?

Re: AMEX Blue Cash: Approval????

score_building — Sat, 27 Mar 2010 18:52:34 GMT

+1 on the soft pull pre-app

Re: AMEX Blue Cash: Approval????

smallfry — Sat, 27 Mar 2010 19:13:30 GMT

Most def a soft pull as a matter of fact I have never even seen any evidence that they pulled any reports at all. For what it's worth if you constantly use this pre app and do not accept any offers you will find they disappear for a period of time.

Re: AMEX Blue Cash: Approval????

Anonymous — Sat, 27 Mar 2010 19:27:02 GMT

Guys,

Just trying to make sure I don't do anything stupid.

When I follow the link to AMEX website and click on "See Your Card Offers", I am prompted to log into my account. Fine.

Next window I see is called Get The Card and there is a horizontal menu with following options:

1) Choose a card with our help

2) Compare cards by benefits

3) View all cards <-- this one is selected

4) Respond to a mail offer

View all cards options is selected and a drop down menu with 15 different cards is provided. It can't be that I am pre-approved for all these cards

Do I need to pick a card and apply to one of them or I am supposed to see something different?

Re: AMEX Blue Cash: Approval????

smallfry — Sat, 27 Mar 2010 19:28:23 GMT

@maks1806 wrote:
Guys,
Just trying to make sure I don't do anything stupid.

When I follow the link to AMEX website and click on "See Your Card Offers", I am prompted to log into my account. Fine.
Next window I see is called Get The Card and there is a horizontal menu with following options:
1) Choose a card with our help
2) Compare cards by benefits
3) View all cards <-- this one is selected
4) Respond to a mail offer

View all cards options is selected and a drop down menu with 15 different cards is provided. It can't be that I am pre-approved for all these cards

Do I need to pick a card and apply to one of them or I am supposed to see something different?

There is a link about in the middle of the page that says something like not a cardholder click here. Find that?

Re: AMEX Blue Cash: Approval????

Anonymous — Sat, 27 Mar 2010 19:34:46 GMT

I actually used to be a cardholder, but my card was closed when AMEX went nuts. Does that matter at all?

My account log in still works though.

Re: AMEX Blue Cash: Approval????

smallfry — Sat, 27 Mar 2010 19:53:56 GMT

Not sure but if they went nuts why bother with them now? Try it as a non cardholder and see what they offer. A lot of people have seen pre approvals for their charge cards. I view this as a left handed compliment since they don't trust you to revolve a balance not that you would want to with AMEX anyway.

Re: AMEX Blue Cash: Approval????

Anonymous — Sat, 27 Mar 2010 19:57:13 GMT

Doesn't mean I want to get one, just interested what I am pre-approved for.

Starwood preferred card has interesting ability to transfer points to pretty much any rewards system.

When you apply as a non-cardholder, is it also a soft pull?

Re: AMEX Blue Cash: Approval????

smallfry — Sat, 27 Mar 2010 20:27:17 GMT

Yes.