topic Re: Approved For Amex BCP in Credit Cards

Approved For Amex BCP

FicoTron — Thu, 09 Aug 2012 04:25:17 GMT

It was two years ago I reached out in these forums to help pull my credit out of total disarray, asking about where to get a secured card and basically anything to start. Well, it has all paid off. I got an Amex Gold in April, and a few minutes ago I was approved for one of THE hardest cards to get, and one of the most rewarding. It's music to your ears when an Amex rep says, "I am excited to tell you that you have been approved for the Blue Cash Preferred card." My next move is a Chase Freedom. Cash back is my best reward so those two cards should mesh well. I'll keep my cap1 secured and axe my Orchard very soon. Thanks everyone!

Date Received

Card

Status of Application

Next Step

08/08/12

BLUE CASH PREFERRED(SM)

Approved

Congratulations! Your application has been approved and you should receive your new card within 7-10 days.
If you requested a balance transfer to this card,click here to view the status of that transfer

Re: Approved For Amex BCP

Anonymous — Wed, 08 Aug 2012 19:59:55 GMT

Super Congrats!!!

Re: Approved For Amex BCP

FicoTron — Wed, 08 Aug 2012 20:25:51 GMT

Thanks, I'm really excited. By the way, if anyone knows, since i didn't get the very best rate overall, does that mean amex will send me my credit score?

Re: Approved For Amex BCP

Anonymous — Wed, 08 Aug 2012 20:27:12 GMT

@FicoTron wrote:
Thanks, I'm really excited. By the way, if anyone knows, since i didn't get the very best rate overall, does that mean amex will send me my credit score?

Yes, that's correct. Congrats!

Re: Approved For Amex BCP

emptypockets — Wed, 08 Aug 2012 20:28:29 GMT

@FicoTron wrote:
Thanks, I'm really excited. By the way, if anyone knows, since i didn't get the very best rate overall, does that mean amex will send me my credit score?

You should get a separate mailer from AMEX with your credit score in it. It usually comes in a plain white envelope (looks like a denial letter), and will come within a few days of you receiving your card.

Re: Approved For Amex BCP

FicoTron — Wed, 08 Aug 2012 20:33:25 GMT

Nice, this is turning into a win/win/win situation for me. Approved, got the $150 bonus offer, and get my score? Perfect! I PIF so the rate doesn't matter.

Re: Approved For Amex BCP

codimom — Wed, 08 Aug 2012 20:48:01 GMT

I love reading 'success stories in progress'! I didn't app for the BCP, but the BCE... after a year or so I will see if it is advantageous to see if I can switch to the other. I just didn't want to app for something with an AF. At the same time, I app'd with Alliant Credit union for their Platinum Rewards card, thinking I would be counter offered the platinum instead. Nope, they approved me for the rewards card, with a very low APR (not that I carry a balance but still) and the 18 months of 0% or the no fee BT doesn't suck either.

Life is good, and with some patience and good gardening, its gonna get even better.

Re: Approved For Amex BCP

LS2982 — Wed, 08 Aug 2012 21:22:30 GMT

CONGRATS!!!!

Re: Approved For Amex BCP

CK_Charles_Lover — Wed, 08 Aug 2012 23:32:27 GMT

Congrats, also along with your letter and credit score, you can use that to get your Experian report (since you didn't get the best terms) for 90 days which I love. Go to experience and under "were you denied credit or best terms" (something like that) and from who (American Express) and your in.

Re: Approved For Amex BCP

CribDuchess — Wed, 08 Aug 2012 23:40:08 GMT

Congratulations - that is a great card! Your hard work and patience has truly paid off. Well done!

Re: Approved For Amex BCP

Anonymous — Thu, 09 Aug 2012 00:12:19 GMT

Congrats. Amex BCP is a wonderful card.

Re: Approved For Amex BCP

FicoTron — Thu, 09 Aug 2012 02:34:34 GMT

Yeah, I'm excited. It's also great that I can get a 3x cli after 61 days, then another 6 months from then. I can potentially have an 18k credit line in 8 months...awesome. I start at 2k. I wanted to get this first before the Freedom to show a high limit card so that I don't get that $500 opening limit from Chase, I have seen a lot of that on these boards.

Re: Approved For Amex BCP

FicoTron — Mon, 13 Aug 2012 19:07:39 GMT

Just got the letter from Amex with my EX Fico since I didn't get the best rate. I thought it would be a little lower than I expected, but it is a whopping 774! So nice.

Re: Approved For Amex BCP

MustangSaluki — Mon, 13 Aug 2012 20:23:57 GMT

@FicoTron wrote:
Just got the letter from Amex with my EX Fico since I didn't get the best rate. I thought it would be a little lower than I expected, but it is a whopping 774! So nice.

Your low CL doesn't correspond with the score at all! BCP has been a complete mystery when it comes to initial CLs/APRs. Would you mind sharing the following, although it will continue to remain a bit confusing I'm sure as we get more data points down the road.

1) #INQs prior to BCP showing up in the report. Any within the last 6 months/ 1 year.

2) Overal Utilization% on all cards (approx) and highest individual utilization of any one card.

I have never seen anyone get the best APR on BCP. Highest CL of $9500 I think. (and their scores were less than yours).

Re: Approved For Amex BCP

CK_Charles_Lover — Mon, 13 Aug 2012 20:37:12 GMT

Yes that's a great score. I got the BCE last month with a 710 and $8000 starting limit, but I had a charge card for about a year first. Made all the difference. IMO

Re: Approved For Amex BCP

MustangSaluki — Mon, 13 Aug 2012 21:18:36 GMT

BCE is also a very hard card to get, but BCP has been typically up one notch or two in terms of difficulty to qualify I think. BCE limits of $8k and slightly more have been reported a few times I think, but not necessarily with BCP.

But you might have a great point there about establishing prior good history with Amex via a charge card (or otherwise) to get approved for a higher CL wrt to FICO Score.

So maybe an additional question to collect datapoints

3) Active Amex cardholder at the time of application?

Re: Approved For Amex BCP

sjt — Mon, 13 Aug 2012 21:52:25 GMT

Congrats!!!

I followed and enjoyed your previous post about wanting to apply for an Amex.

Re: Approved For Amex BCP

FicoTron — Tue, 14 Aug 2012 02:08:26 GMT

@MustangSaluki wrote:
@FicoTron wrote:
Just got the letter from Amex with my EX Fico since I didn't get the best rate. I thought it would be a little lower than I expected, but it is a whopping 774! So nice.
Your low CL doesn't correspond with the score at all! BCP has been a complete mystery when it comes to initial CLs/APRs. Would you mind sharing the following, although it will continue to remain a bit confusing I'm sure as we get more data points down the road.

1) #INQs prior to BCP showing up in the report. Any within the last 6 months/ 1 year.
2) Overal Utilization% on all cards (approx) and highest individual utilization of any one card.

I have never seen anyone get the best APR on BCP. Highest CL of $9500 I think. (and their scores were less than yours).
Yes I am a previous cardholder, but only for 4 months, I only had one inquiry in the past two years on EX before applying and it was from Amex for the gold card I got 4 months ago, overall utilization 0%. I assume the low CL is because I have had two rebuilder cards for 2 years with CLs of $500 and $320 respectively. I apped for Amex because even with the good chance of getting a low CL of $2000, I can have it as high as $18000 within 8 months. You can't beat that, so I'm fine with it.

Re: Approved For Amex BCP

FicoTron — Wed, 15 Aug 2012 16:11:15 GMT

Today is seven days, hopefully my sick new BCP comes in the mail today. I need to fill my gas tank up and I want to save 11 cents every gallon forever starting today.

Re: Approved For Amex BCP

migliogiorni — Wed, 15 Aug 2012 16:21:43 GMT

Congrats and awesome score. The rates on these cards and other cards like it are going to be high no matter the score from what I've heard.