topic Re: Equifax fico + BCP in Credit Cards

Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 04:32:43 GMT

I pulled myfico equifax report from this site.

Your Equifax Score: 738

Payment History: Good (I've never had any lates, why isn't this very good?)

Amount of Debt:Very Good

Length of Credit History: Not Good

Amount of New Credit: Good

2 Inquiries on Equifax, 2 on Experian

Oldest Account: 2 years 8 months

AAoA: 1 year

I have two credit cards open, 1 reporting a $0/750 balance, 1 reporting $93/2200. 3% Util

I have one installment loan with a balance of $14,787. It says that the balance is hurting my score because it is too high. I do not understand why.

Annual Income: $26,000

Last account opened 1/2011

I want to app for the BCP, but am very worried I will be denied. I need some serious advice because I really want it.

Should I wait until my 2 inquiries age to 1 year?

Should I just app for Zync and then go for the one I want in 6 months?

Re: Equifax fico + BCP

tntexans72 — Mon, 28 Nov 2011 05:17:04 GMT

Amex will pull EX and maybe TU if they need to look at a 2nd report. What does your EX report look like? Are they similar to your EQ report?

Re: Equifax fico + BCP

clocktick — Mon, 28 Nov 2011 05:17:07 GMT

@nada9188 wrote:

Payment History: Good (I've never had any lates, why isn't this very good?)

Probably because there isn't much "history" to go by. I would go for the BCP since that's the card you want. Others may disagree. They will pull EX (among others possibly). Your utilities look good, your AAoA is a bit low. If you don't get it, you can always recon.

Let us know what you decide!

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 05:23:25 GMT

@tntexans72

I pulled my Ex report via freecreditreport.com about 2 weeks ago before I had one card at 0% util and one between 1-9%Util.

The score on that report was 730.

If you were me, would you do it?

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 05:25:06 GMT

@clocktick

Now that I look at it again it say Great, not good.

If you were me in my situation, would you app for it?

Should I app online or over the phone? Should it be during business hours so I can recon, or is there a 48 hour window to do so?

Re: Equifax fico + BCP

Odiseous — Mon, 28 Nov 2011 05:42:01 GMT

@nada9188 wrote:
@clocktick

Now that I look at it again it say Great, not good.

If you were me in my situation, would you app for it?

Should I app online or over the phone? Should it be during business hours so I can recon, or is there a 48 hour window to do so?

I was approved for the BC (before they had the BCE/BCP) with a freecreditreport.com FAKO of 712, higher Util, & shorter AAOA, more inquiries (about a dozen). The BC was the first AmEx I got.

You're probably good to App for the AmEx you want.

I'd App before the end of the year (for future backdating); and do it on a weekday (non-holiday) so you can recon immdiately if needed.

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 05:40:53 GMT

Other concern I have.

I went to the "find offer for you" link on the amex website, put in my info and it said no offers were found.

Has any one had that message come up and still be approved for the card of their choice?

Re: Equifax fico + BCP

Odiseous — Mon, 28 Nov 2011 05:44:45 GMT

@nada9188 wrote:
Other concern I have.

I went to the "find offer for you" link on the amex website, put in my info and it said no offers were found.

Has any one had that message come up and still be approved for the card of their choice?

Yep. I was not pre-approved for anything on their website, when I Apped for the BC.

Note: I had signed up to receive offers. When I received the offer for Green in the mail; I shredded it (not interested). When I got the offer for Zync, I also shredded it. Though: I took that as a sign they wanted my business. So, I apped for the card I wanted (BC).

Re: Equifax fico + BCP

tntexans72 — Mon, 28 Nov 2011 05:46:00 GMT

@nada9188 wrote:
@tntexans72

I pulled my Ex report via freecreditreport.com about 2 weeks ago before I had one card at 0% util and one between 1-9%Util.

The score on that report was 730.

If you were me, would you do it?

I would go for it.........apped for the BCP on 11/23 and was approved.

There's a 150 signup bonus plus 0% apr for 12 months for this card right now.

Good luck..........

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 06:02:54 GMT

Thank you all!!

I suppose I will app for this card in the morning instead of tonight, unless someone feels I have a window to recon until tomorrow.

I guess if worst comes to worst, I'll get an inquiry and no card-its not like there is any other card I am interested in app'ing for in the near future as far as I can see.

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 06:12:01 GMT

I have some questions on the application.

Under employment, I am full time employed, but should I also indicate I am a student?

I live at home with my parents and do not pay rent/ morgtage. How should I indicate this on the application?

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 06:20:34 GMT

After conteplating this app for months, I bit the bullet tonight and applied to get:

Sorry - we're currently experiencing some difficulties with our systems.

Print this page

Your application will be processed as soon as possible, and we will notify you of the decision by mail within 14 days.

For an update on the status of your card application, please to go to our online status site.

Thank you for applying for the Blue Cash PreferredSM from American Express.

Re: Equifax fico + BCP

Anonymous — Mon, 28 Nov 2011 06:46:12 GMT

Good luck!

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 06:47:52 GMT

I kept refreshing the app status page and it was approved!!!!!!

Now the guessing game on CL...

Re: Equifax fico + BCP

Odiseous — Mon, 28 Nov 2011 06:50:16 GMT

@nada9188 wrote:
After conteplating this app for months, I bit the bullet tonight and applied to get:

Sorry - we're currently experiencing some difficulties with our systems.
Print this page

Your application will be processed as soon as possible, and we will notify you of the decision by mail within 14 days.
For an update on the status of your card application, please to go to our online status site.
Thank you for applying for the Blue Cash PreferredSM from American Express.

Hurray for technical difficulties. :/ .. not.

Sometimes things happen. I'd check the status site tomorrow. If it doesn't show anything; I'd recon.

Re: Equifax fico + BCP

Anonymous — Mon, 28 Nov 2011 06:52:25 GMT

@nada9188 wrote:
I have some questions on the application.

Under employment, I am full time employed, but should I also indicate I am a student?

I live at home with my parents and do not pay rent/ morgtage. How should I indicate this on the application?

I have the Zync card, and I don't remember the exact AMEX application, but generally I put my rent/mortgage at $0 because it's covered under my scholarships. Even though my rent payment is technically $550, I don't put that on there because then they'd think that I have to pay that out of my part time income, which I don't. Speaking in general, I put employment as "student" and in the income section list income from my job...some application ask for the source, others don't. If they ask for a source I just put part time job.

I think it's important to note somewhere in the application that I'm a student (if it's not strictly a student card) to explain my low income and stuff.

Re: Equifax fico + BCP

Odiseous — Mon, 28 Nov 2011 06:53:23 GMT

@nada9188 wrote:
I kept refreshing the app status page and it was approved!!!!!!

Now the guessing game on CL...

- More important

- Less important (since you can play the CLI game with AmEx)

Congrats!

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 06:54:01 GMT

Yeah I clicked Rent and it did not ask for an amount. I indicated employed student, because it is the most accurate description. It approved it now so I have no regrets.

Re: Equifax fico + BCP

nada9188 — Mon, 28 Nov 2011 06:54:39 GMT

Thank you!!!

@Odiseous wrote:
@nada9188 wrote:
I kept refreshing the app status page and it was approved!!!!!!

Now the guessing game on CL...

- More important
- Less important (since you can play the CLI game with AmEx)

Congrats!

Re: Equifax fico + BCP

boomhower — Mon, 28 Nov 2011 09:21:40 GMT

Would app for zync and then bc directly after. That's the method I took. One inquiry and approved after verifying address. I had 730 FICO and zync green and gold under offers. After being approved for bcp I cancelled the zync app as I didn't want it.