topic Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync? in Credit Cards

Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 07:14:30 GMT

After yrs. of having iffy credit & arguing w/ the cedit bureaus I finally cleaned up my reports & in April got approved for a Citi Thank You for $13,200 & Chase Freedom w/ $3,100 CLI a few days ago. Eventually I'd like the CSP & an AMEX BCE & that's it. A few prime cards w/ good rewards & no crazy AFs that I can use/leave open for yrs. Absolutely NO store cards. I'm trying to figure out when's the optimal time to apply for the Amex & the CSP.

I'm thinking about app for CSP in 3-4 months but I know that Chase likes long credit history & I only have 2 indiv. accts, both < yr old. AAoA is >10 yrs if they take the AU TL into acct but I know that Chase places heavy emphasis on indiv. history. I had an amex green card in 2000 so if I open a new Amex acct it will backdate to 2000? Chase will think that I've had an active indiv. acct for the past 12 yrs? I'm nervous that I won't get approved for the Amex BCE & I really don't want to take a HP unless it results in an approval. Since it's easier to get approved for the charge cards should I apply for the Zync instead & hope that I get approved & amex offers a same day SP for the BCE? I don't really care for the Zync but the $25 AF is low enough that it wouldn't kill me to keep it open for a few yrs & store it. From the looks of these boards lately it seems like everyone's getting approved for the Zync npsl. (I'd prefer true MR but I can't justify the high AF's after the promo yr is up & I don't want to ding my credit by closing acts quickly.) Would this make me more likely to get approved for CSP in Oct/Nov?

EQ: 769 0 inquiries
TU: 703 (Chase Pull 7/12) 3 inquiries (1 falls off in Oct.) 1 paid judgement $349 3.3 yrs ago
EX: 688 (security freeze)

My Cards:
Citi Thank You $13,200 (41% until.) 4/12
Chase Freedom $3,100 7/12 (waiting to hear back from exec office on CLI)

AU: Amex Hilton $3,000 (94% until.) (1984) Going to remove acct b/c the util. is bringing my score down
AU: Amex Delta $1,700 (1984)
AU: Macy's Amex $6,000 (1999)
AU: Macy's- limit not rep (1999)
AU: Bloomy's Limit not rep (11/09)

Oldest Acct: 28 Yrs
Newest Acct: 1 month
AAoA: 9.5 yrs (after removing Amex Hilton)

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

OhioCPA — Sun, 08 Jul 2012 09:35:11 GMT

Since you were just approved for the Freedom I would wait six to twelve months to app for the CSP. A Zync approval then application for a BCE on the same day when you aren't a current card member could result in two HP's from Amex. Even with the two HP's EX might delete one as a duplicate. You should be able to recover your AF on the Zync with special offers from Amex, i.e., Small Business Saturday, etc.

I would work to get the utilization down on the Citi card then apply for either a Zync or Green and a BCE on the same day. If they decline your BCE then I would apply again in a few months after you have some history with Amex. Since Amex is great with CLI's at 61 days and again at six months I would wait until you have seen your second increase on the Amex report before applying for the CSP. This will increase your chance of approval on the CSP with a higher CL as they tend to match current CL's.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Eschaton — Sun, 08 Jul 2012 10:45:07 GMT

If you don't feel too good about the BCE, just get the Zync and wait a few months, apply for BCE since it'll be a soft pull anyways. The first year AF is waived for the Zync, and you can close it after a year if you get the BCE.

I'm still new to the whole credit thing; but it sounds like you're doing well and I don't see you being denied for BCE or CSP. But take that with a grain of salt.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 12:38:29 GMT

How did you leave amex before? Amex should be priority given the backdating.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 13:16:25 GMT

@Anonymous wrote:
How did you leave amex before? Amex should be priority given the backdating.

In good standing.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 13:17:46 GMT

@OhioCPA- good pt. about the 61 days CLI, ttally forgot about that.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 13:28:15 GMT

@Anonymous wrote:
@Anonymous wrote:
How did you leave amex before? Amex should be priority given the backdating.
In good standing.

Well any Amex should be priority. You should be backdated to your original member date. However it was a while ago so Amex might not have old file in active records. I hope you have some proof lying around. The backdated Amex will help fill in your credit file and increase your aaoa. I would go for zync and app for bce same day. However any delay on 2nd card approval/denial will likely result in two hard pulls. If on experian, you can likely get 2nd hard pull removed as dupe by calling experian. Other option is to wait a couple of months to app for bce will result in hp is approved and nothing if denied.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 13:29:30 GMT

Forgot. You need to remove security freeze before apping for Amex.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

OhioCPA — Sun, 08 Jul 2012 13:50:17 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
How did you leave amex before? Amex should be priority given the backdating.
In good standing.
Well any Amex should be priority. You should be backdated to your original member date. However it was a while ago so Amex might not have old file in active records. I hope you have some proof lying around. The backdated Amex will help fill in your credit file and increase your aaoa. I would go for zync and app for bce same day. However any delay on 2nd card approval/denial will likely result in two hard pulls. If on experian, you can likely get 2nd hard pull removed as dupe by calling experian. Other option is to wait a couple of months to app for bce will result in hp is approved and nothing if denied.

While I agree on the Amex as being a priority I doubt there will be much of a bump in AAoA. Since the AAoA is already at 9 years I wouldn't expect much of a score change with hitting 10 years.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 14:02:48 GMT

Ohio, op's aaoa is primarily made up of au credit lines. Not sure if he would trigger fico 8 piggybacking rules which would discount or ignore au lines. Additionally, under manual review, he would be denied as he basically has a thin file with a bunch of au lines. The Amexs would help make his au lines look less out of whack.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Sun, 08 Jul 2012 15:12:54 GMT

Considering your green card is closed and it may not be on your report still. Your history alone is only a few months old and your utilization is greater than 30%. Not knowing what the rest of your file looks like, I would say you should look to decrease your balances before you apply to either Chase or Amex. I would do Amex first because your Chase Freedom is new.

I would wait until you've had the Thank You and Freedom for 6 months a peice and significantly reduced your balance(s), then I would try for the BCE or BCP. I would then give it another 6 months and try for the CSP. That way you've had a relationship with Chase for a year and optimally your most recent app would be BCE/BCP (6 months prior).

The good thing about having low util is you avail yourself to the possibility of a greater CL.

I think the CSP, Freedom, and BCP is a good arsenal. You can do the Chase exclusives if you have both the freedom and the preferred. I wouldn't consider zync because you can't upgrade it to any other charge card.

Just my 2 cents..

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Mon, 09 Jul 2012 08:59:22 GMT

@Anonymous wrote:
Forgot. You need to remove security freeze before apping for Amex.

Can't they just pull one of the other reports?

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Mon, 09 Jul 2012 09:06:31 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
How did you leave amex before? Amex should be priority given the backdating.
In good standing.
Well any Amex should be priority. You should be backdated to your original member date. However it was a while ago so Amex might not have old file in active records. I hope you have some proof lying around. The backdated Amex will help fill in your credit file and increase your aaoa. I would go for zync and app for bce same day. However any delay on 2nd card approval/denial will likely result in two hard pulls. If on experian, you can likely get 2nd hard pull removed as dupe by calling experian. Other option is to wait a couple of months to app for bce will result in hp is approved and nothing if denied.

Do you think I can get approved for Amex now or should I wait till my Citi acct is 6 months old?

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

j_casteel — Mon, 09 Jul 2012 09:34:57 GMT

@Anonymous wrote:
@Anonymous wrote:
Forgot. You need to remove security freeze before apping for Amex.
Can't they just pull one of the other reports?

IIRC, AMEX uses primarily EX. I know every app I've had with them they have ONLY pulled EX.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Mon, 09 Jul 2012 09:36:53 GMT

If my billing cycle ends on the 20th & the due date is the 16th, when should I pay my bill so that it's reflected in my credit reports?

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

OhioCPA — Mon, 09 Jul 2012 11:39:26 GMT

@Anonymous wrote:
If my billing cycle ends on the 20th & the due date is the 16th, when should I pay my bill so that it's reflected in my credit reports?

If you are trying have a zero balance report on your credit report for utilization purposes, then you would need to pay the balance on the account by the 20th. You might want to avoid using the card just before the end of the cycle to avoid a pending charge hitting after you make your payment.

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Wed, 11 Jul 2012 03:29:22 GMT

Just wanted to thank everybody for your good advice. I'm going to remove myself as an AU on the amex hilton & make a payment in a few days to Citi to get my util down to 29-30%. Once that's reflected on my credit report i'll apply for the zync (mainly for the backdating purposes), if approved apply on the same day for BCE (hopefully a SP.) if I'm denied for the BCE I'll just wait a month or two & reapply, which will only count as a HP if I'm approved. Will hold off on apping fir CSP. Is the BCP harder to get approved for than BCE? When will the changes update in my credit report if my billing cycle ends on the 20th & the due date is the 16th? Want to app for Zync as soon as my report updates. Is Zync w/ NPSL pretty much a sure thing? Thanks

Re: Optimal Time to App 4 CSP & Amex BCE? BCE or Zync?

Anonymous — Wed, 11 Jul 2012 05:20:09 GMT

BCE and BCP are the same qualifications. Most cards will report around the statement date (end of billing cycle) and report statement balance. The Zync will help fill in the missing years of your credit file. Not sure how much of a sure thing the Zync is. I would assume you have pretty good shot.. Hard to say since your FICO is made up of lots of AU accounts which may or may not be discounted. But Zync is pretty easy card to get. Not sure if a couple months of history with Zync will get your BCE/BCP, but no real FICO harm with applying once you have Zync