topic Re: considering amex blue cash everyday need advice in Credit Cards

considering amex blue cash everyday need advice

Anonymous — Thu, 21 Feb 2013 02:56:13 GMT

I am in need of some advice. I am considering applying for an amex blue cash everyday. currently my credit score according to fico with Experian is 725. i have not checked the other scores but i have read that amex usually just checks experian. i have always paid my credit cards in full and have never made a late fee or paid anything less then the full balance on the statement. right now i have a discover card with 5500 cl and a home depot with a 1000 cl. i have had the Discover for 20 months and the home depot for 7 months. my utility is around 15 percent. Do you think that i would be able to get approved for the amex blue cash? also how much would my credit score drop if i apply and get approved? i really want the blue cash for the cash back on groceries and gas on the months that discover does not give me 5 percent. thanks for any advice.

Re: considering amex blue cash everyday need advice

LS2982 — Thu, 21 Feb 2013 02:58:42 GMT

@Anonymous wrote:
I am in need of some advice. I am considering applying for an amex blue cash everyday. currently my credit score according to fico with Experian is 725. i have not checked the other scores but i have read that amex usually just checks experian. i have always paid my credit cards in full and have never made a late fee or paid anything less then the full balance on the statement. right now i have a discover card with 5500 cl and a home depot with a 1000 cl. i have had the Discover for 20 months and the home depot for 7 months. my utility is around 15 percent. Do you think that i would be able to get approved for the amex blue cash? also how much would my credit score drop if i apply and get approved? i really want the blue cash for the cash back on groceries and gas on the months that discover does not give me 5 percent. thanks for any advice.

Welcome to the forums!!

Where did you get this EX score??

I think you got a good shot at approval.

Re: considering amex blue cash everyday need advice

Anonymous — Thu, 21 Feb 2013 02:58:37 GMT

hey thanks for the reply, i got it from myfico

Re: considering amex blue cash everyday need advice

LS2982 — Thu, 21 Feb 2013 02:59:40 GMT

@Anonymous wrote:
hey thanks for the reply, i got it from myfico

You didn't get an EX FICO from here, they haven't been sold to the general public since 2009. You may have gotten EQ or TU tho.

Re: considering amex blue cash everyday need advice

Anonymous — Thu, 21 Feb 2013 03:02:29 GMT

your right sorry about that it is the equifax that i got with the free trial on myfico

Re: considering amex blue cash everyday need advice

Epcot — Thu, 21 Feb 2013 03:04:11 GMT

You sure you didn't mean EQ?

edit- didn't see your last post. Your file looks pretty decent. How many inquiries do you have?

Re: considering amex blue cash everyday need advice

LS2982 — Thu, 21 Feb 2013 03:04:23 GMT

@Anonymous wrote:
your right sorry about that it is the equifax that i got with the free trial on myfico

With the score being over 700 I think you got a good shot at getting the AMEX. Your EX should be right around there as well. Keep in mind AMEX can pull any report for revolvers and may even pull all 3 if your file is borderline to them.

Re: considering amex blue cash everyday need advice

Anonymous — Thu, 21 Feb 2013 03:07:10 GMT

cool thanks for the advice. will that drop my credit score much? on my fico report it recommended that i not get new credit soon because of the home depot 7 months ago, but i never use that card and was wanting to get the amex for all the benefits. just didnt want it to destroy my score from applying

Re: considering amex blue cash everyday need advice

LS2982 — Thu, 21 Feb 2013 03:09:15 GMT

@Anonymous wrote:
cool thanks for the advice. will that drop my credit score much? on my fico report it recommended that i not get new credit soon because of the home depot 7 months ago, but i never use that card and was wanting to get the amex for all the benefits. just didnt want it to destroy my score from applying

Its not going to "destroy" your score You may lose a few points but if your planning to garden for awhile you'll get those back within 6 months to a year.

Re: considering amex blue cash everyday need advice

Epcot — Thu, 21 Feb 2013 03:12:04 GMT

The inquiry and new account (lowering your AAoA) will hurt a little but you should see your scores rebound within 6-12 months.

edit- LS2982 you are fast, beat me to it. LOL

Re: considering amex blue cash everyday need advice

Anonymous — Thu, 21 Feb 2013 03:11:04 GMT

sorry for so many questions. how far would it lower it? would i be above 700?

Re: considering amex blue cash everyday need advice

LS2982 — Thu, 21 Feb 2013 03:13:50 GMT

@Anonymous wrote:
sorry for so many questions. how far would it lower it? would i be above 700?

Somewhere around there. I wouldn't worry about it that much.

Re: considering amex blue cash everyday need advice

Anonymous — Thu, 21 Feb 2013 03:23:25 GMT

awesome i think i will go ahead and apply. they keep sending me pre approvals for the amex blue sky so hopefully they wont mind me going for the blue cash

Re: considering amex blue cash everyday need advice

Epcot — Thu, 21 Feb 2013 03:39:32 GMT

Hope you get it, keep us posted!

Re: considering amex blue cash everyday need advice

LS2982 — Thu, 21 Feb 2013 03:44:34 GMT

Fingers crossed !!!!

Re: considering amex blue cash everyday need advice

nicholasyud — Thu, 21 Feb 2013 03:47:34 GMT

There should be a link for $100 sign up bonus for BCE on creditcard.com.

Your change getting approve for BCE pretty high.

I approved for my BCE when my score around 675.

If you werent apply for anything like car or mortgate then give it a shot.

Maybe add 2 3 trade line if you want to build your credit in a long run.

Re: considering amex blue cash everyday need advice

Anonymous — Thu, 21 Feb 2013 05:18:37 GMT

i have one other question for yal if you dont mind. would it be any more difficult to get the amex blue cash preferred then the amex blue cash?

Re: considering amex blue cash everyday need advice

tmbr10 — Fri, 22 Feb 2013 03:25:12 GMT

@Anonymous wrote:
i have one other question for yal if you dont mind. would it be any more difficult to get the amex blue cash preferred then the amex blue cash?

I'm actually looking at the same cards and have decided on the BCE mainly because of the annual fee. I would assume that the requirements would be the same except that with the BCP, you are paying for the extra benefits. Which justifies the cost for some.

Keep us informed.

Re: considering amex blue cash everyday need advice

Anonymous — Fri, 22 Feb 2013 03:54:22 GMT

@tmbr10 wrote:
@Anonymous wrote:
i have one other question for yal if you dont mind. would it be any more difficult to get the amex blue cash preferred then the amex blue cash?
I'm actually looking at the same cards and have decided on the BCE mainly because of the annual fee. I would assume that the requirements would be the same except that with the BCP, you are paying for the extra benefits. Which justifies the cost for some.

Keep us informed.

I think if the BCE appears worth getting, then for most the BCP is actually the better choice.

If you just buy groceries, the break-even point for BCE vs BCP is $2500 per year, about $50 per week. However, you also get 1% extra on gas (and those select department stores). So if you spend $100 per month on gas, you save an extra $12 (which is like reducing the annual fee oto $63), so the break-even point is then $42 per week on groceries.

And, if you spend less than that on groceries and gas, the BCE isn't going to save you much anyway, and you would be better off saving the app for a card which gives rewards where you do spend your money!

Of course, there can be good sign up bonus for the cards, which might make they worthwhile to get for that, even if the gas/grocery spend is small.

Re: considering amex blue cash everyday need advice

Anonymous — Fri, 22 Feb 2013 04:16:33 GMT

thanks for all the help guys. i decided to go for the Blue Cash Preferred and got instant approval. i wont be able to find out my credit limit or anything like that until i receive the card, but im just glad they approved it