topic Re: Advice on apping in Credit Cards

Advice on apping

Meltdownblitz — Wed, 02 Nov 2011 23:45:35 GMT

I was considering apping for BCP. I have currently 4 new accounts in the last 6 months. Only 2 INQ in the last 6 months on EX. And also opened a Amex zync back in June, therefore almost had it for 6 months of perfect payment history and ran a lot of money through it. No baddies, FICO is around 720. What do you think my chances are of getting approved? Opinions appreciated thanks.

Re: Advice on apping

Anonymous — Thu, 03 Nov 2011 02:38:04 GMT

I'd say your chances of getting approved are good, but the question is...do you really need another card?

Re: Advice on apping

Anonymous — Thu, 03 Nov 2011 03:14:27 GMT

@Meltdownblitz wrote:
I was considering apping for BCP. I have currently 4 new accounts in the last 6 months. Only 2 INQ in the last 6 months on EX. And also opened a Amex zync back in June, therefore almost had it for 6 months of perfect payment history and ran a lot of money through it. No baddies, FICO is around 720. What do you think my chances are of getting approved? Opinions appreciated thanks.

What is BCP? Sorry for not knowing BTW congratulations on the approvals!

Re: Advice on apping

Anonymous — Thu, 03 Nov 2011 03:19:08 GMT

@Anonymous wrote:
@Meltdownblitz wrote:
I was considering apping for BCP. I have currently 4 new accounts in the last 6 months. Only 2 INQ in the last 6 months on EX. And also opened a Amex zync back in June, therefore almost had it for 6 months of perfect payment history and ran a lot of money through it. No baddies, FICO is around 720. What do you think my chances are of getting approved? Opinions appreciated thanks.

What is BCP? Sorry for not knowing BTW congratulations on the approvals!

BCP is Blue Cash Preferred.

I've been considering apping for BCE. Like you I have 2 inquiries in the last 6 months and both were EX and I also opened an AMEX (my first) back in June. My EX in July was 725. I'm still hesitant to app for BCE because I'm trying to have only 1 more inquiry in 2011 and I don't want to waste it on a rejection. I don't know if I'm being overly careful, but that's where I'm at.

Re: Advice on apping

Anonymous — Thu, 03 Nov 2011 03:20:24 GMT

Im going to say just by going off of the sole fact that you said you have four new accounts that you will get declined for that and potentially not having a long enough history with Amex... The latter is probably an easy recon but the former.. Not so much. Best wishes though !

Re: Advice on apping

Anonymous — Thu, 03 Nov 2011 03:22:50 GMT

FWIW, I requested a CLI (2x my CL) 30 days into my AMEX cardholder-ship and was denied. That's another contributing factor to my hesitance to app BCE now.

Re: Advice on apping

Ms-Kato — Thu, 03 Nov 2011 03:25:11 GMT

@Anonymous wrote:
@Meltdownblitz wrote:
I was considering apping for BCP. I have currently 4 new accounts in the last 6 months. Only 2 INQ in the last 6 months on EX. And also opened a Amex zync back in June, therefore almost had it for 6 months of perfect payment history and ran a lot of money through it. No baddies, FICO is around 720. What do you think my chances are of getting approved? Opinions appreciated thanks.

What is BCP? Sorry for not knowing BTW congratulations on the approvals!

Yes it's the AMEX Blue Cash Preferred ..the one they denied me.

It has the best rewards !

Welcome to Cardmembership.

Make purchases that total $1,000 or more within your first 3 months of membership and you'll receive a $150 Welcome Bonus

Earn unlimited cash back on your purchases.

Earn unlimited cash back - 6% cash back at supermarkets, 3% cash back at gas stations and department stores, and 1% back everywhere else. Cash back will be awarded in the form of Reward Dollars. Redeem Reward Dollars for cash back, or choose from gift cards or merchandise.2

It pays to refer a friend.

Earn a $75 Referral Bonus3 with the new Blue Cash Preferred for each friend or family member who is approved for the Card, so be sure to tell everyone you know about the great cash back rewards they can earn when they sign up.

You can earn 75 Reward Dollars for each new Blue Cash PreferredSM Card account you refer. .

Annual fee pays for itself.

With 6% cash back at supermarkets, if you spend just $25 weekly at your supermarket, you can receive over $75 cash back from these purchases alone.

Re: Advice on apping

tntexans72 — Thu, 03 Nov 2011 03:28:14 GMT

@Anonymous wrote:
FWIW, I requested a CLI (2x my CL) 30 days into my AMEX cardholder-ship and was denied. That's another contributing factor to my hesitance to app BCE now.

You need to wait 61 days and are allow to request 3x your current CL.

Re: Advice on apping

Anonymous — Thu, 03 Nov 2011 03:30:33 GMT

@tntexans72 wrote:
@Anonymous wrote:
FWIW, I requested a CLI (2x my CL) 30 days into my AMEX cardholder-ship and was denied. That's another contributing factor to my hesitance to app BCE now.

You need to wait 61 days and are allow to request 3x your current CL.

So since I already tried once for a CLI do I have to wait 61 days from my denial? Or still 61 days of card membership?

Re: Advice on apping

Meltdownblitz — Thu, 03 Nov 2011 04:24:09 GMT

Yes it is the blue cash preferred and I want it because it has awesome rewards. I think I might wait until December because that would give me 6 months with having my Amex zync and would probably give me a better chance of getting the bcp. But I do want to app for it soon. I saw on the credit pulls database that quite a few people with scores even below 700 have been getting approved. So I wonder... Guess I won't know till I app. Is Amex new account sensitive? Because as I said, I have very few inqs on ex, which I know they'll like.

Re: Advice on apping

orl2185 — Thu, 03 Nov 2011 13:41:36 GMT

@Meltdownblitz wrote:
I was considering apping for BCP. I have currently 4 new accounts in the last 6 months. Only 2 INQ in the last 6 months on EX. And also opened a Amex zync back in June, therefore almost had it for 6 months of perfect payment history and ran a lot of money through it. No baddies, FICO is around 720. What do you think my chances are of getting approved? Opinions appreciated thanks.

Luckily you don't have any TL's with Barclays, they would have shut you down. Four accounts in 6 months is considered excessive with most creditors, makes it seem like you having financial difficulties and your scores will reflect that activity.

You leaving yourself opened to lots of AA,

Re: Advice on apping

Mekitcat — Thu, 03 Nov 2011 16:14:59 GMT

@Meltdownblitz wrote:
I was considering apping for BCP. I have currently 4 new accounts in the last 6 months. Only 2 INQ in the last 6 months on EX. And also opened a Amex zync back in June, therefore almost had it for 6 months of perfect payment history and ran a lot of money through it. No baddies, FICO is around 720. What do you think my chances are of getting approved? Opinions appreciated thanks.

See my post this may help you decide, I don't know what your overall file looks like but I had a lot of inqs, a lot of new/newer accounts within a 6month period, a short history and only had my Zync for 1 month and I was approved for the BCP with a $6000CL

http://ficoforums.myfico.com/t5/Credit-Cards/Amex-question/td-p/1038106/highlight/false

Good luck if you decide too go for it!

Re: Advice on apping

Meltdownblitz — Thu, 03 Nov 2011 17:33:32 GMT

Thanks mekitcat. Really makes me want to app for it now! Haha.

I've had my zync for 6 months in beginning of December, (5 months currently), will waiting till that 6th month have an effect on my chances of approval or probably not?