topic Re: Preparing for BCE App in Credit Cards

Preparing for BCE App UPDATED

jake619 — Wed, 12 Dec 2012 21:35:49 GMT

I logged into my AMEX account and clicked the APPLY NOW link for BCE. I'm assuming since I already have an AMEX affiliation and I'm logged in I got this page because when I logged out and tried I was asked for way more info.

So those of you that have continued beyond this page completing the box I put in blue, does this indicate the app would be a SP? Is it accurate to say it dies at a SP if declined and then goes HP if approved? (Dont want to tick off Barclays for no gain)

Thanks.

Re: Preparing for BCE App

armbenderc — Wed, 12 Dec 2012 06:14:14 GMT

@jake619 wrote:
I logged into my AMEX account and clicked the APPLY NOW link for BCE. I'm assuming since I already have an AMEX affiliation and I'm logged in I got this page because when I logged out and tried I was asked for way more info.

So those of you that have continued beyond this page completing the box I put in blue, does this indicate the app would be a SP? Is it accurate to say it dies at a SP if declined and then goes HP if approved? (Dont want to tick off Barclays for no gain)

Thanks.

If you are denied, it will be a SP. If you are approved, it will be HP.

Are you planning to app now? Wait next month for max backdating.

Re: Preparing for BCE App

jake619 — Wed, 12 Dec 2012 06:22:00 GMT

Actually, I was planning to pull the trigger this month seeing that it would only be a SP if I stink it up. I have accounts all the way back to 1995 with AMEX (which I discussed in a separate thread) so I don't know if waiting will make much difference.

So they approve off the SP then do what with the HP? Set the CL? If the SP get's me in the door what is the HP for?

Re: Preparing for BCE App

armbenderc — Wed, 12 Dec 2012 12:17:40 GMT

@jake619 wrote:
Actually, I was planning to pull the trigger this month seeing that it would only be a SP if I stink it up. I have accounts all the way back to 1995 with AMEX (which I discussed in a separate thread) so I don't know if waiting will make much difference.

So they approve off the SP then do what with the HP? Set the CL? If the SP get's me in the door what is the HP for?

Yes, if they have your SP on file, they will go off that. If their SP is too old, you can request a new one (recon), in this case it will be a HP even if you denied.

If you are approved based on the SP that they have, they will go ahead and HP you.

Let me know if you pull the trigger, I am planning to next month.

Re: Preparing for BCE App

djrez4 — Wed, 12 Dec 2012 14:54:56 GMT

I've never quite understood Amex's method, but I presume they tentatively approve from the soft pull and then do a hard pull to make sure nothing crazy has happened between the soft and the application. It makes Amex cards a bit easier to apply for on a whim.

On a different note, for those not already backdated to 1995, it definitely makes sense to wait until next month. I just snagged the HHonors Amex last month, but only because they chopped 25k points off the bonus offer starting on 12/1. Otherwise, I would have waited until January for maximum backdating juice.

Re: Preparing for BCE App

Jutz — Wed, 12 Dec 2012 14:55:43 GMT

It may not make a big difference or any difference at all, but it's tough to argue with waiting 2 weeks for 11 months of extra AAoA

Re: Preparing for BCE App

Cdnewmanpac — Wed, 12 Dec 2012 15:22:45 GMT

Impact on AAoA is really file dependent. With each year of backdating, the 11 months has less impact and other factors may outweigh the benefit of waiting. For example, if he thinks (as it sounds like he does) that he will be denied, the additional time to work on the reason for denial may outweigh the value of the increased AAoA. Or his AAoA may be over 11 years, at which point there is little impact on changes. Personally, I calculated mine from yesterday (when I apped) vs Jan 1 and the total impact on AAoA was 1 week.

Re: Preparing for BCE App

Jutz — Wed, 12 Dec 2012 15:32:45 GMT

@Cdnewmanpac wrote:
Impact on AAoA is really file dependent. With each year of backdating, the 11 months has less impact and other factors may outweigh the benefit of waiting. For example, if he thinks (as it sounds like he does) that he will be denied, the additional time to work on the reason for denial may outweigh the value of the increased AAoA. Or his AAoA may be over 11 years, at which point there is little impact on changes. Personally, I calculated mine from yesterday (when I apped) vs Jan 1 and the total impact on AAoA was 1 week.

Oh I totally agree, I just think 18 days to gain 11 months is a pretty good decision no matter to end result. I guess that's just my rebuilding mode self trying to squeeze every last point out of my score

Re: Preparing for BCE App

jake619 — Wed, 12 Dec 2012 15:52:27 GMT

I'm definitely not tracking this backdating topic properly. If a card is backdated then what value is the year of acquisition when calculating AAoA?

Re: Preparing for BCE App

Cdnewmanpac — Wed, 12 Dec 2012 16:15:41 GMT

If you are backdating to 2011, for example, then the difference between January 2011 (if you wait 2 weeks) and December 2011 would be a 50 percent increase in card age. So the impact on AAoA (especially if initial AAoA is a year or two) would be large. On the other hand, the difference between December 1988 and January 1988 represents only a 4 percent change in card age, thus less impact in an AAoA calculation.

Re: Preparing for BCE App

drew11 — Wed, 12 Dec 2012 16:17:41 GMT

@jake619 wrote:
I'm definitely not tracking this backdating topic properly. If a card is backdated then what value is the year of acquisition when calculating AAoA?

It doesn't matter what year you acquire the card because you already established a history with Amex in 1995. Therefore, whenever you get approved for subsequent Amex cards the activation date of that card will be the month that it was opened but in 1995. In other words, if you get approved for BCE this month it will say it was opened in December 1995. However, if you wait until January (which is what I am doing) and are approved then it will say the card was opened in January 1995 (thus giving you an additional 11 months of backdating for your AAoA).

Re: Preparing for BCE App

jake619 — Wed, 12 Dec 2012 16:18:38 GMT

I see. This other thread has me questioning this though. http://ficoforums.myfico.com/t5/Credit-Cards/Amex-question/m-p/1744586#M485485

Re: Preparing for BCE App

drew11 — Wed, 12 Dec 2012 16:20:20 GMT

No everyone's reply (besides CotySinz) is correct and matches what we just said.

Re: Preparing for BCE App

jake619 — Wed, 12 Dec 2012 21:34:54 GMT

I couldn't help myself... I did it.

Filled it out and got this:

Hit up the status page 2 minutes later and got this

Called the backdoor number and the Rep said I was approved for a $3400 CL. Rep said only TU was queried but refused to provide the FICO. I thought that was odd since so many see AMEX hit EX. Who cares, I'm back in with AMEX. Happy days!

Re: Preparing for BCE App

Rhaeny — Wed, 12 Dec 2012 21:44:07 GMT

@jake619 wrote:
I couldn't help myself... I did it.

Filled it out and got this:
Hit up the status page 2 minutes later and got this
Called the backdoor number and the Rep said I was approved for a $3400 CL. Rep said only TU was queried but refused to provide the FICO. I thought that was odd since so many see AMEX hit EX. Who cares, I'm back in with AMEX. Happy days!

Well now congratulations my friend!!

I can't wait until I'm eligible to apply for one but I think it might be awhile for me. Anyways congrats again on your success!

Re: Preparing for BCE App

Anonymous — Wed, 12 Dec 2012 21:44:55 GMT

Congrats!!!

Re: Preparing for BCE App

Cdnewmanpac — Wed, 12 Dec 2012 22:14:04 GMT

Congrats. Keep in mind that if you get the best interest rate, you will not get a fico score. They only send if the score was involved in a decision to give you less than the best advertised rate.

Re: Preparing for BCE App UPDATED

JonStur — Wed, 12 Dec 2012 22:16:24 GMT

Way to go!!!!

Re: Preparing for BCE App UPDATED

jsickz32 — Wed, 12 Dec 2012 22:24:46 GMT

congrats!!

Re: Preparing for BCE App UPDATED

jake619 — Wed, 12 Dec 2012 22:59:12 GMT

Thanks, everybody. Is it odd for them to only look at TU? I'm in CA, would that matter? I just see a lot of people write how they'd bet money on AMEX pulling EX. I guess it doesn't really matter though.

For those that are curious, my most recent TU FICO (quarterly monitoring from here) was 677, no past due accounts, 20 yr credit history, 5 of 15 accounts with negative remarks (all over 3 years ago) and 3 CO's (all over 3 years ago). I must admit, I was surprised to be approved. Currently I have a Cap1 CL 750 and a Barclay Rewards CL 1900.

This approval will likely shut me down for a while.

topic Re: Preparing for BCE App in Credit Cards

Preparing for BCE App *UPDATED*

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