topic Re: What Are My Chances Of Getting Approved For The... in Credit Cards

What Are My Chances Of Getting Approved For The...

OnTheRebound — Fri, 29 Apr 2011 22:30:08 GMT

...new Amex Blue Cash Preferred?

I'm loving this card. I figure our annual cash back could potentially be 5-6 hundred dollars annually, conservatively speaking, as we would run $20K-$25K through it yearly. I'm allergic to annual fees but the rewards structure on this card would make the $75 AF well worth it.

My Profile:

EQ- 720

TU- 758

EX- No idea, however, historically, it has always been my middle score.

The only baddie, and its a biggie, is a unpaid Federal Tax lien reporting on EQ and EX since 2004. My TU report is pristine. I understand Amex will, at the very least, hard pull EX.

Individual accounts:

Citi Plat Select MC- $10K CL- $2252.00 bal. 0% interest till 12/1/11. I can PIF anytime if it will improve my chances. 23% utilities reporting. 8 statements old.

Home Depot (Citi)- $2K CL- Gets regular use and PIF before statement cuts except for 0% promos. Current balance is zero. 8 statements old.

JCPenny (GEMB)- $472 CL- Closed by me in good standing. Reporting since 1997 on EX.

Shell (Citi)- $900 CL- Closed by me in good standing. Reporting since 1994 on EX.

AU Accounts (Wife)

Penfed Cash Visa- $5K CL- Use sparingly. PIF before statement cuts. 8 statements old.

Chase Freedom Visa- $11,014.00 CL- Use heavily. $2660.00 balance. PIF immediately after statement cuts. I don't know why I let this one report. 25% utilities. Opened on 11/2000.

Chase Platinum Visa- $3.5K CL- Transffered $3K to the Freedom and closed by me. In good standing. Still reporting with $500 CL. Opened on June, 2007.

Amex Green- Spending ability was as high as $8K. Use sparingly. PIF before statement cuts. I will close this one in May when the AF posts. 12 statements old.

Lowes (GEMB)- $10K CL- Use regularly. PIF before statement cuts except for 0% interest promos. Current balance is zero. Opened on June, 2008.

Like I mentioned above, I can PIF the reported balances anytime if it will help me get approved.

What do you think? Do I stand a chance?

BTW, this forum has been a Godsend. 10 years ago, I don't think I even knew what a Fico score was and if I did, I didn't care.

Thanks in advance to everyone who responds.

ETA: I forgot to mention my inquiries.

3 on EX. One will fall off this August.

3 on EQ. Two will fall off this August.

Fat zero on TU.

Re: What Are My Chances Of Getting Approved For The...

Anonymous — Fri, 29 Apr 2011 22:56:26 GMT

I was approved for a Blue Cash Preferred yesterday with a EX Fico somewhere between a 710-720 thats what the AmEx rep kinda said, they can not tell you your actuall score. But then I was told that I have to wait 90 days before applying for the Blue Cash Preferred, because I just applied for the Regular Blue Cash 3/28/11, my Blue Cash Preferred app is still under review even tho I was told I was instantly approved then told I cant apply for two AmEx CC's within a 90 period.

I have a CO from back in 2005 and 3 inquiries on EX which is what AmEx pulls.

I have 6 other CC's AmEx Blue Cash (2000CL) Cap1 (500CL) Cap1 (750CL) GEMB (500CL) HSBC (400CL) I'm also AU on my Fathers AmEx Platinum Optima (16,000CL)

Also I have a 2% util.

I think you have a very good chance to be approved.

Best of luck.

Re: What Are My Chances Of Getting Approved For The...

Anonymous — Fri, 29 Apr 2011 23:00:55 GMT

@OnTheRebound wrote:

The only baddie, and its a biggie, is a unpaid Federal Tax lien reporting on EQ and EX since 2004. My TU report is pristine. I understand Amex will, at the very least, hard pull EX.     Ouch!

Individual accounts:

Citi Plat Select MC- $10K CL- $2252.00 bal. 0% interest till 12/1/11. I can PIF anytime if it will improve my chances. 23% utilities reporting. 8 statements old.
Only 8 mos old.

Home Depot (Citi)- $2K CL- Gets regular use and PIF before statement cuts except for 0% promos. Current balance is zero. 8 statements old.
Only 8 mos old.

JCPenny (GEMB)-   $472 CL- Closed by me in good standing. Reporting since 1997 on EX.   When?

Shell (Citi)- $900 CL- Closed by me in good standing. Reporting since 1994 on EX.   When?

AU Accounts (Wife)

Penfed Cash Visa- $5K CL- Use sparingly. PIF before statement cuts. 8 statements old.
Which is $0 balance. Only 8 mos old.

Chase Freedom Visa- $11,014.00 CL- Use heavily. $2660.00 balance. PIF immediately after statement cuts. I don't know why I let this one report. 25% utilities. Opened on 11/2000.
Why? If you can do this, you should PIF or Pay Down to $100 before the statement cuts. Ouch!    10 yrs and 5 mos old.

Chase Platinum Visa- $3.5K CL- Transffered $3K to the Freedom and closed by me. In good standing. Still reporting with $500 CL. Opened on June, 2007.
When?    You should PIF this amount ASAP.    3 yrs and 10 mos old.

Amex Green- Spending ability was as high as $8K. Use sparingly. PIF before statement cuts. I will close this one in May when the AF posts. 12 statements old.
? How about now?   Which is $0 balance. 1 yr old.

Lowes (GEMB)- $10K CL- Use regularly. PIF before statement cuts except for 0% interest promos. Current balance is zero. Opened on June, 2008.
Which is $0 balance.    2 yrs and 10 mos old.

Like I mentioned above, I can PIF the reported balances anytime if it will help me get approved.

What do you think? Do I stand a chance?

BTW, this forum has been a Godsend. 10 years ago, I don't think I even knew what a Fico score was and if I did, I didn't care.

Thanks in advance to everyone who responds.

ETA: I forgot yo mention my inquiries.

3 on EX. One will fall off this August.
3 on EQ. Two will fall off this August.
Fat zero on TU.

IMO ... better off with app later after you PIF your unpaid Federal Tax lien

Re: What Are My Chances Of Getting Approved For The...

Anonymous — Fri, 29 Apr 2011 23:08:46 GMT

@Anonymous wrote:
@OnTheRebound wrote:

The only baddie, and its a biggie, is a unpaid Federal Tax lien reporting on EQ and EX since 2004. My TU report is pristine. I understand Amex will, at the very least, hard pull EX.     Ouch!

Individual accounts:

Citi Plat Select MC- $10K CL- $2252.00 bal. 0% interest till 12/1/11. I can PIF anytime if it will improve my chances. 23% utilities reporting. 8 statements old.
Only 8 mos old.

Home Depot (Citi)- $2K CL- Gets regular use and PIF before statement cuts except for 0% promos. Current balance is zero. 8 statements old.
Only 8 mos old.

JCPenny (GEMB)-   $472 CL- Closed by me in good standing. Reporting since 1997 on EX.   When?

Shell (Citi)- $900 CL- Closed by me in good standing. Reporting since 1994 on EX.   When?

AU Accounts (Wife)

Penfed Cash Visa- $5K CL- Use sparingly. PIF before statement cuts. 8 statements old.
Which is $0 balance. Only 8 mos old.

Chase Freedom Visa- $11,014.00 CL- Use heavily. $2660.00 balance. PIF immediately after statement cuts. I don't know why I let this one report. 25% utilities. Opened on 11/2000.
Why? If you can do this, you should PIF or Pay Down to $100 before the statement cuts. Ouch!    10 yrs and 5 mos old.

Chase Platinum Visa- $3.5K CL- Transffered $3K to the Freedom and closed by me. In good standing. Still reporting with $500 CL. Opened on June, 2007.
When?    You should PIF this amount ASAP.    3 yrs and 10 mos old.

Amex Green- Spending ability was as high as $8K. Use sparingly. PIF before statement cuts. I will close this one in May when the AF posts. 12 statements old.
? How about now?   Which is $0 balance. 1 yr old.

Lowes (GEMB)- $10K CL- Use regularly. PIF before statement cuts except for 0% interest promos. Current balance is zero. Opened on June, 2008.
Which is $0 balance.    2 yrs and 10 mos old.

Like I mentioned above, I can PIF the reported balances anytime if it will help me get approved.

What do you think? Do I stand a chance?

BTW, this forum has been a Godsend. 10 years ago, I don't think I even knew what a Fico score was and if I did, I didn't care.

Thanks in advance to everyone who responds.

ETA: I forgot yo mention my inquiries.

3 on EX. One will fall off this August.
3 on EQ. Two will fall off this August.
Fat zero on TU.

IMO ... better off with app later after you PIF your unpaid Federal Tax lien

I misread, I thought it said a paid tax lien. bunnyrabbit is probably correct. sorry for my possibly incorrect opinion.

Re: What Are My Chances Of Getting Approved For The...

Anonymous — Fri, 29 Apr 2011 23:39:55 GMT

OP: May I ask if the IRS garnishing your wages? I can imagine the penalties after so long and I'm surprized Citi would offer a large CL like that under the circumstances. Maybe you could settle with the IRS for a fraction of what they say you owe and then get it off your record?

Re: What Are My Chances Of Getting Approved For The...

OnTheRebound — Sat, 30 Apr 2011 00:03:27 GMT

@Anonymous wrote:

@Anonymous wrote:
@OnTheRebound wrote:

Chase Platinum Visa- $3.5K CL- Transffered $3K to the Freedom and closed by me. In good standing. Still reporting with $500 CL. Opened on June, 2007.
When?    You should PIF this amount ASAP.    3 yrs and 10 mos old. Sorry, I didn't make myself clear. This was a seldom used account that I bought a $5.99 carwash once every 3 months. Useless to me. I had Chase move $3K of the CL over to the Freedom and closed this one. Zero balance. This was 3 months ago.

Amex Green- Spending ability was as high as $8K. Use sparingly. PIF before statement cuts. I will close this one in May when the AF posts. 12 statements old.
? How about now?   Which is $0 balance. 1 yr old.   It was 8K two days ago


IMO ... better off with app later after you PIF your unpaid Federal Tax lien
I misread, I thought it said a paid tax lien. bunnyrabbit is probably correct. sorry for my possibly incorrect opinion.

So are you saying Amex is sensitive to unpaid tax liens? More so than chargeoffs and lates?
By the way, I'm not planning to apply immediately. I know how to manipulate my credit reports before applying. If I do apply, it won't be before August when my two accounts reach one year.

Re: What Are My Chances Of Getting Approved For The...

OnTheRebound — Sat, 30 Apr 2011 00:24:57 GMT

@Anonymous wrote:
OP: May I ask if the IRS garnishing your wages? I can imagine the penalties after so long and I'm surprized Citi would offer a large CL like that under the circumstances. Maybe you could settle with the IRS for a fraction of what they say you owe and then get it off your record?

No garnishment. Working on "Offer In Compromise" for about 17 months now. They are very difficult to work with. Silly me. When I entered into this "negotiation", I figured we would have this settled in 90 or 120 days at the most. It's been one thing after another. A close friend went through the same thing I'm going though and he revealed not long ago it took him about 2.5 years to finally settle.

As far as Citi is concerned, they sent me a preapproved offer last August. Was instantly approved for $8.7K. Last week they gave me a $1300 CLI.

I cold applied Home Depot (Citi) two weeks later. Instantly approved for $500.00. Last week they increased CL to $2K.

Re: What Are My Chances Of Getting Approved For The...

Anonymous — Sat, 30 Apr 2011 02:45:27 GMT

You mention you can pif any time. That means that you have money in the bank why don't you pay your taxes like we all do and stop think of obtaining more credit. This clearly shows that you don't like to pay your obligations.

Re: What Are My Chances Of Getting Approved For The...

OnTheRebound — Sat, 30 Apr 2011 04:25:44 GMT

@Anonymous wrote:
You mention you can pif any time. That means that you have money in the bank why don't you pay your taxes like we all do and stop think of obtaining more credit. This clearly shows that you don't like to pay your obligations.

You are making a judgement you know nothing about. In my 40 plus year work history I got in financial trouble with with the IRS ONE year. My recession was in 2001-2002 when I lost almost everything. So please don't sit in judgement. That is all I'm going to say about this.

Now, may we get back to my original question?

Re: What Are My Chances Of Getting Approved For The...

Anonymous — Sat, 30 Apr 2011 06:50:24 GMT

@OnTheRebound wrote:

Individual accounts:
Citi Plat Select MC- $10K CL- $2252.00 bal. 0% interest till 12/1/11. I can PIF anytime if it will improve my chances.

AU Accounts (Wife)
Chase Freedom Visa- $11,014.00 CL- Use heavily. $2660.00 balance. PIF immediately after statement cuts.

Like I mentioned above, I can PIF the reported balances anytime if it will help me get approved.

OP, when you state that you are capable to PIF your credit card debt ... I think it is normal to others to think why you don't pay some to IRS if you have the money. So the carlosg ~ he/she simply thought that way. And I'm so sorry, I agree with you and understand why you got up set with his/her comment. Of cause we don't know your situation is unless you mention to us otherwise. That's why we need to be careful what we post and how we respond.

@MarineVietVet

Moderator

http://ficoforums.myfico.com/t5/Credit-Cards/Just-a-reminder/td-p/780431

Re: What Are My Chances Of Getting Approved For The...

Anonymous — Sat, 30 Apr 2011 07:35:41 GMT

Back to your original post ~ You have the followings:

unpaid Federal Tax lien reporting on EQ and EX since 2004 No garnishment. Working on "Offer In Compromise" for about 17 months now. They are very difficult to work with. Silly me. When I entered into this "negotiation", I figured we would have this settled in 90 or 120 days at the most. It's been one thing after another. A close friend went through the same thing I'm going though and he revealed not long ago it took him about 2.5 years to finally settle.

Individual accounts:

Citi Plat Select MC $10K CL $2252.00 bal - 0% interest till 12/1/11 - 8 mos old

Home Depot (Citi) $2K CL $0 bal (PIF before statement cuts except for 0% promos) - 8 mos old

JCPenny (GEMB) $472 CL Closed by me in good standing. Reporting since 1997 on EX. When?

Shell (Citi) $900 CL Closed by me in good standing. Reporting since 1994 on EX. When?

AU Accounts (Wife)

Penfed Cash Visa $5K CL $0 bal (PIF before statement cuts) - 8 mos old

Chase Freedom Visa $11,014 CL - $2660 bal - Opened on 11/2000 10 yrs and 5 mos old

should PIF or Pay Down to $100 before the statement cuts.

Chase Platinum Visa $500 CL - Opened on June, 2007 - Closed on Jan 2011 - 3 yrs and 10 mos old

Amex Green $8K CL - $0 bal (PIF before statement cuts) - I will close this one in May when the AF posts. 1 yr old

Lowes (GEMB) $10K CL - $0 bal (PIF before statement cuts except for 0% interest promos)

Opened on June, 2008 - 2 yrs and 10 mos old

Inqualies

3 on EX. One will fall off this August.
3 on EQ. Two will fall off this August.
Fat zero on TU.