topic Re: BCE after Mortgage in Credit Cards

BCE after Mortgage

Anonymous — Fri, 11 May 2012 15:11:36 GMT

I wanted to apply for BCE after the LO pulls my credit for the final time. The no-interest is definitely a plus, since I need a lot of new stuff for my first home. I have a decent amount in savings but I don't want to spend it all at once. I would rather make payments until the 0% expires. My question is what type of credit profile does BCE look for? I would like a decent credit line. My highest is 5k.

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 15:30:04 GMT

Wait til your LO pulls for the final time.

Wait til it's been closed and funded.

Then see what your EX is at (that's what they pulled for me).

I got the BCE a few months ago, EX was at 760, first AMEX product, no lates, no CO's, no neg's and plenty of positive history. At the time my AAOA was 5+ years.

They definitely look for 700+ with a nice credit history.

Re: BCE after Mortgage

pizzadude — Fri, 11 May 2012 15:33:02 GMT

AMEX Credit Cards are generally harder to get than their Charge Cards, and they can be quirky with their approvals. Do you have any negatives on your reports ? If so how recent are they ?

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 16:00:45 GMT

I was approve for a BCE $8k initial cl, income of about 25 k annually. In my defense I'm a 24 yo student lol when I applied 2 mos after my mortgage went through, but it wasn't reporting yet, if that matters. I did acknowledge I had just bought a home. My score was 747, no lates or derogatories ever and prior to that my highest cl was $2800. I did; however, have a zync for 6 months prior to applying for the BCE and I had always paid in full and ran about 9 k through it in 6 mos, maybe a bit more. Needless to say. I was pleasantly surprised by the cl and I love the card now. It's my go - to. Hope my info helps you.

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 16:02:23 GMT

Also everyone talks about how quirky the Amex approval requirements are. Do you have any other Amex cards? Your history with them will be a definite help. I agree with Frugal though, wait until everything has been finalized and you know what your new score is. That way if Amex turns you down, you can always call the backdoor number and talk to them. Since you just laid deep roots with a mortage they may look favorably upon you

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 18:40:09 GMT

I have no baddies on my CR. Unfortuntately, I'm a newbie to AMEX. It's always been my dream card. I don't think my other cards are slouches either. My AAOA is about 4+ years. I currently only have 2 inquiries (3 when they pull again) on my credit. In addition, my utilization is under 1%. I think I'm a good candidate, but I don't wanna waste an inquiry either. I keep gettin the Discover more pre-approvals. Personally, I don't want a Discover card. But I won't turn down the 0% APR or the decent rewards.

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 18:44:05 GMT

Go for an Amex Zync or Green (unless you want a Gold), build some history with them (you should be a shoe in for either card) and 6 to 12 months down the road hit them up for a BCE. Remember you can then backdate your BCE to your older Amex AA, so when it comes to your AAoA, it will be like getting two cards now instead of one now and one later.

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 18:50:26 GMT

OP, if it's any consolation, I got the BCE right off the bat without any previous AMEX's.

I think as long as you are 700+, have a positive history, long enough history, no baddies... you are good to go for a BCE.

Of course, YMMV, but it's not ALWAYS the case where you should get a charge card first.

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 19:08:20 GMT

I don't with a charge card because I do intend to revolve some portion of the balance. I need furniture and appliances for the new home. I want to revolve a balance so I won't have to deplete my savings.

Re: BCE after Mortgage

boomhower — Fri, 11 May 2012 20:50:57 GMT

You should be fine. My first Amex was a BCP and your credit is a lot better than mine, I had two unpaid collections reporting when approved. You may also want to look at a Citi card. Many of them are showing 18 months 0% offers.

Re: BCE after Mortgage

Anonymous — Fri, 11 May 2012 21:56:30 GMT

I already have 2 citicards. Dividend/AAdvantage