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So I checked the credit data pull database that some of the experts here have mentioned from time to time. When you compare BCE to BCP it seems that the BCP applications(for the most part), when approved, start with higher limits then the BCE. I now have a 795 Experian which has taken quite awhile for me to get. I have been wanting one of these cards for the groceries cash back but the 6% cash back on the BCP wouldnt matter to me if they started me with a lower limit then the BCE(I want to grow with the 3xcli amex thing). I have 3 cc's, and the highest CL is $4400, the other two are $750 and $500. No inquiries, no baddies or anything. Any suggestion which one I should go for? I could care less about the annual fee on the BCP, that money will be made back..I know it has been mentioned that it is the same qualifying criteria for both BUT the data pull site starting limits seem to suggest otherwise...the bcp data suggest much more established profiles then the bce people.
Just want to ask for a few more data points so people would be able to help you even more. What is your AAOA? Your Experian score is high but your limits are shockingly low by comparison. Where are you getting your Experian score from (CreditKarma, or provided by a creditor)? Your thinking seems right as you're looking at the data and seeing that people are generally approved at higher SL with BCP than BCE but it could be because people with thinner profiles get approved more easily for BCE than BCP.
On another note, my BCE made it to the cap (before needing verification of income) in about 2 years so they all seem to grow quickly at Amex. Just make sure to ask for a CLI as often as is permitted by their policy.
My TU is 802, Equifax is 794. CC's are 5 years old. There was a $100 medical collection that kept my score in the mid 650's from the time I opened my cards through Apr 16. Then my scores have steadily rose over 100 points since. I get my scores from myfico AND from my monthly cc statements. My low limits dont match my income either.
@Anonymous wrote:My TU is 802, Equifax is 794. CC's are 5 years old. There was a $100 medical collection that kept my score in the mid 650's from the time I opened my cards through Apr 16. Then my scores have steadily rose over 100 points since. I get my scores from myfico AND from my monthly cc statements. My low limits dont match my income either.
Good info! Are you able to ask for soft pull CLI's from your other cards? Amex does seem to give you higher limits based on your total available credit. Although, to be honest, I had less available credit than you have currently when I got my BCE while it started at a few thousand it quickly grew thanks to the 3XCLI on day 61.
@Anonymous wrote:So I checked the credit data pull database that some of the experts here have mentioned from time to time. When you compare BCE to BCP it seems that the BCP applications(for the most part), when approved, start with higher limits then the BCE. I now have a 795 Experian which has taken quite awhile for me to get. I have been wanting one of these cards for the groceries cash back but the 6% cash back on the BCP wouldnt matter to me if they started me with a lower limit then the BCE(I want to grow with the 3xcli amex thing). I have 3 cc's, and the highest CL is $4400, the other two are $750 and $500. No inquiries, no baddies or anything. Any suggestion which one I should go for? I could care less about the annual fee on the BCP, that money will be made back..I know it has been mentioned that it is the same qualifying criteria for both BUT the data pull site starting limits seem to suggest otherwise...the bcp data suggest much more established profiles then the bce people.
If I were you I wouldn't worry about the starting limits with Amex because (a) their starting limits aren't bad on those cards, and (b) in 61 days you can usually get your starting limit tripled.
I would go with whichever card suits you better, which sounds like the BCP if your grocery spend is significant and you don't care about the AF.
Amex cards can grow quicky. 3X CLI opportunities exist at 61+ days and then 181+ days after that... so whether you start at $8k or $10k or $15k your limit after a year will be essentially the same in the end, give or take.
I got the BCP for the groceries too in February with a starting limit of $1K. In August they auto doubled it to $2k. Then in November they auto increased it $6K. I'll be honest it was a pain at times with the low limits, but AMEX has taken care of me so far and that 6% back has added up and paid the $95 and then some.
@Anonymous wrote:I would go with whichever card suits you better, which sounds like the BCP if your grocery spend is significant and you don't care about the AF.
Amex cards can grow quicky. 3X CLI opportunities exist at 61+ days and then 181+ days after that... so whether you start at $8k or $10k or $15k your limit after a year will be essentially the same in the end, give or take.
+1 Do the math and figure which card will give you the most cash back based on your spend. Amex cards grow very nicely with a good profile.
Did you try the Amex pre-qual site? Any special welcome bonus? Low APR?
If BCP will make you more cashback even with AF go for it. They may give you $3,000 or even more. You will not know how much until you apply. In less than 3 months I'm sure you will have a $9,000 or more card. Good luck.
I don't think you will get low SL with either card. don't be suprise if you see 5 digits SL
Apply for whichever suits you better.