topic Amex question in Credit Cards

Amex question

1eyebandit — Tue, 01 Apr 2014 03:49:43 GMT

Hello Family,

I was recently approved for two Amex's BCP (1k) and Costco TE (5k). I apped two days apart, I received my BCP and there was a letter in the envelope that had my credit score EX 713. I received my True Earnings card today and it did not have a letter with the score. I just curious on the different credit limits. Does anyone have any insight?

Re: Amex question

gdale6 — Tue, 01 Apr 2014 04:01:16 GMT

@1eyebandit wrote:
Hello Family,

I was recently approved for two Amex's BCP (1k) and Costco TE (5k). I apped two days apart, I received my BCP and there was a letter in the envelope that had my credit score EX 713. I received my True Earnings card today and it did not have a letter with the score. I just curious on the different credit limits. Does anyone have any insight?

A letter only would be mailed if you failed to qualify for the best terms offered by that card.

Re: Amex question

09Lexie — Tue, 01 Apr 2014 04:06:39 GMT

@gdale6 wrote:
@1eyebandit wrote:
Hello Family,

I was recently approved for two Amex's BCP (1k) and Costco TE (5k). I apped two days apart, I received my BCP and there was a letter in the envelope that had my credit score EX 713. I received my True Earnings card today and it did not have a letter with the score. I just curious on the different credit limits. Does anyone have any insight?
A letter only would be mailed if you failed to qualify for the best terms offered by that card.

Correct plus the TE only has 1 APR, so no credit score would be disclosed.

Re: Amex question

takeshi74 — Tue, 01 Apr 2014 12:17:33 GMT

@1eyebandit wrote:
I just curious on the different credit limits. Does anyone have any insight?

What about the different credit limits? You can't just expect limits to be the same if that's what you're wondering. My BCP was issued with a $12.5K limit. Several months later I apped for the TE and received a $6.9K limit.

Re: Amex question

1eyebandit — Tue, 01 Apr 2014 15:42:13 GMT

@takeshi74 wrote:
@1eyebandit wrote:
I just curious on the different credit limits. Does anyone have any insight?
What about the different credit limits? You can't just expect limits to be the same if that's what you're wondering. My BCP was issued with a $12.5K limit. Several months later I apped for the TE and received a $6.9K limit.

With my BCP I got 1k with a 22.99 ARP. This is my lowest CL and my worst APR. But got approved for TE 15.24 APR and higher CL. Just curious I guess.

Re: Amex question

Vegas247 — Tue, 01 Apr 2014 15:52:10 GMT

@1eyebandit wrote:
@takeshi74 wrote:
@1eyebandit wrote:
I just curious on the different credit limits. Does anyone have any insight?
What about the different credit limits? You can't just expect limits to be the same if that's what you're wondering. My BCP was issued with a $12.5K limit. Several months later I apped for the TE and received a $6.9K limit.
With my BCP I got 1k with a 22.99 ARP. This is my lowest CL and my worst APR. But got approved for TE 15.24 APR and higher CL. Just curious I guess.

Only thing would be is different underwriting guidelines

Re: Amex question

1eyebandit — Tue, 01 Apr 2014 16:12:34 GMT

@Vegas247 wrote:
@1eyebandit wrote:
@takeshi74 wrote:
@1eyebandit wrote:
I just curious on the different credit limits. Does anyone have any insight?
What about the different credit limits? You can't just expect limits to be the same if that's what you're wondering. My BCP was issued with a $12.5K limit. Several months later I apped for the TE and received a $6.9K limit.
With my BCP I got 1k with a 22.99 ARP. This is my lowest CL and my worst APR. But got approved for TE 15.24 APR and higher CL. Just curious I guess.

Only thing would be is different underwriting guidelines

I agree but I got the following

CSP -18k 15.99%

Freedom - 15k 13.99%

NFCU - 25K - Lowest rate

NavCheck 15k - 16%(??)

Amex BCP - 1k 22.99% - Wierd

Re: Amex question

Vegas247 — Tue, 01 Apr 2014 16:14:16 GMT

@1eyebandit wrote:
@Vegas247 wrote:
@1eyebandit wrote:
@takeshi74 wrote:
@1eyebandit wrote:
I just curious on the different credit limits. Does anyone have any insight?
What about the different credit limits? You can't just expect limits to be the same if that's what you're wondering. My BCP was issued with a $12.5K limit. Several months later I apped for the TE and received a $6.9K limit.
With my BCP I got 1k with a 22.99 ARP. This is my lowest CL and my worst APR. But got approved for TE 15.24 APR and higher CL. Just curious I guess.

Only thing would be is different underwriting guidelines
I agree but I got the following

CSP -18k 15.99%
Freedom - 15k 13.99%
NFCU - 25K - Lowest rate
NavCheck 15k - 16%(??)
Amex BCP - 1k 22.99% - Wierd

I know what you mean....look at my signature

Re: Amex question

Kenny — Tue, 01 Apr 2014 16:19:46 GMT

Was your BCP the first or second amex App? If it was second, they might have thought, we've extended enough for now.

Also, did you recently obtain some of these cards? That can also affect how they feel right now.

Re: Amex question

Kenny — Tue, 01 Apr 2014 16:21:10 GMT

@Vegas247 wrote:
@1eyebandit wrote:
@Vegas247 wrote:
@1eyebandit wrote:
@takeshi74 wrote:
@1eyebandit wrote:
I just curious on the different credit limits. Does anyone have any insight?
What about the different credit limits? You can't just expect limits to be the same if that's what you're wondering. My BCP was issued with a $12.5K limit. Several months later I apped for the TE and received a $6.9K limit.
With my BCP I got 1k with a 22.99 ARP. This is my lowest CL and my worst APR. But got approved for TE 15.24 APR and higher CL. Just curious I guess.

Only thing would be is different underwriting guidelines
I agree but I got the following

CSP -18k 15.99%
Freedom - 15k 13.99%
NFCU - 25K - Lowest rate
NavCheck 15k - 16%(??)
Amex BCP - 1k 22.99% - Wierd

I know what you mean....look at my signature

The tremendous difference is.. the Amex has significant potential to grow and eventually make the other cards look much smaller. Give me a 1k Amex over a 10k Chase card that isn't going to move any day of the week.

Re: Amex question

09Lexie — Tue, 01 Apr 2014 16:57:02 GMT

1eyebandit wrote:

Vegas247 wrote:

1eyebandit wrote:

takeshi74 wrote:

1eyebandit wrote:

I just curious on the different credit limits. Does anyone have any insight?

With my BCP I got 1k with a 22.99 ARP. This is my lowest CL and my worst APR. But got approved for TE 15.24 APR and higher CL. Just curious I guess.

Only thing would be is different underwriting guidelines

I agree but I got the following

CSP -18k 15.99%

Freedom - 15k 13.99%

NFCU - 25K - Lowest rate

NavCheck 15k - 16%(??)

Amex BCP - 1k 22.99% - Wierd

You cannot compare or assume the UW would be the same for each card even with the same lender. The TE only has 1 APR just like the CSP. Why did you receive a higher rate on the BCP and the lowest CL? Sounds like your file was viewed as more of a risk. If those 5 TLs are less than 6 mos old, I would suggest letting them age before adding any new HP's.

Re: Amex question

1eyebandit — Wed, 02 Apr 2014 02:29:14 GMT

@09Lexie wrote:
@1eyebandit wrote:
@Vegas247 wrote:
@1eyebandit wrote:
@takeshi74 wrote:
@1eyebandit wrote:
I just curious on the different credit limits. Does anyone have any insight?
What about the different credit limits? You can't just expect limits to be the same if that's what you're wondering. My BCP was issued with a $12.5K limit. Several months later I apped for the TE and received a $6.9K limit.
With my BCP I got 1k with a 22.99 ARP. This is my lowest CL and my worst APR. But got approved for TE 15.24 APR and higher CL. Just curious I guess.

Only thing would be is different underwriting guidelines
I agree but I got the following

CSP -18k 15.99%
Freedom - 15k 13.99%
NFCU - 25K - Lowest rate
NavCheck 15k - 16%(??)
Amex BCP - 1k 22.99% - Wierd

You cannot compare or assume the UW would be the same for each card even with the same lender. The TE only has 1 APR just like the CSP. Why did you receive a higher rate on the BCP and the lowest CL? Sounds like your file was viewed as more of a risk. If those 5 TLs are less than 6 mos old, I would suggest letting them age before adding any new HP's.

Thanks Lexie.