Amex BCE vs BCP starting limits

[Anonymous]

What were your stats when you applied? My fear is a 1k starting limit..there is a monumental difference between a 1,2,3k starting cli when you compare the potential end result of the amex 3xcli guide...

[Anonymous]

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@Anonymous wrote:

What were your stats when you applied? My fear is a 1k starting limit..there is a monumental difference between a 1,2,3k starting cli when you compare the potential end result of the amex 3xcli guide...

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I have BCE

exp score was 736

total CL $3500

no collection or etc.

3 inq

instant approval for 8K.

on day 62 I got my 3xCLI to $24K 

[Anonymous]

Thank you for the info!

[Anonymous]

Update: Went ahead and just applied for the BCP..10K starting limit, very happy with that. Thank you everyone for the help. Interestingly the Experian score they pulled was 770 from a few weeks ago and not my current 795 from a few days ago. I wonder if my starting limit would have been more? (shrug), guess we'll never know

[Anonymous]

told you 5 digits

congrats!!!

[newhis]

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@Anonymous wrote:

Update: Went ahead and just applied for the BCP..10K starting limit, very happy with that. Thank you everyone for the help. Interestingly the Experian score they pulled was 770 from a few weeks ago and not my current 795 from a few days ago. I wonder if my starting limit would have been more? (shrug), guess we'll never know

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Congrats. I told you you could end with a 9K or more card in a few months at most

One question, how do you know that they pulled a EX 770? From what I read they HP your credit and the score should be from that day. When you get a CLI they use the last SP score they have on you.

For the infor you gave us, I don't think the SL will be any different. Remember that if your income supports a 3X CLI, you could have a 30K card in a couple of months.

My advice, don't apply for more cards until the Amex report for a couple of months, this way other lenders can see that you can handle a 10K card and will give you good SLs.

[Anonymous]

When I logged into the amex account I checked my fico score(its a tool they have)..it said 770 from Jan 14...My 795 came on Jan 15(on myfico)..Not sure why they pulled Jan 14?

Glad you said to wait on applying for more cards. My greedy kneejerk reaction after approval was that I wanted to try and get another card as the amex was my first app in 5 years and my only inquiry in the last 24 months. How long do you think I should wait? And how much do you think my score will drop due to the amex? If it does drop how long does it take to recover? I like predictions and will keep you posted on the facts when they roll in.

[newhis]

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@Anonymous wrote:

When I logged into the amex account I checked my fico score(its a tool they have)..it said 770 from Jan 14...My 795 came on Jan 15(on myfico)..Not sure why they pulled Jan 14?

Glad you said to wait on applying for more cards. My greedy kneejerk reaction after approval was that I wanted to try and get another card as the amex was my first app in 5 years and my only inquiry in the last 24 months. How long do you think I should wait? And how much do you think my score will drop due to the amex? If it does drop how long does it take to recover? I like predictions and will keep you posted on the facts when they roll in.

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Well your profile and the fact that you didn't apply for cards for a long time, put you apart from my general recommendation.

There are some lenders that will give you good limits and others that will look at your profile and give you a smaller limit. My recommendation for you is:

- app only for cards that can grow with SP like Discover

- app for cards that are known to get good SL like Cap1 Venture or Chase CSR that start with $10K

- do not app for Citi DC, they could give you a 2K SL

This if you want good SL.

Amex most of the time take 2 statements to first report your account/limit. Is up to you if you want to apply for anything else today. I bet you get approved but the SL is the question. Also some cards give a welcome bonus after some purchases, make sure that you can meet them all if you apply for a few. Good luck.

[Anonymous]

ok, so I just want to make sure I understand you correctly. The amex I just got wont post to the credit bureaus for two billing cycles--so sometime in March? At that point do they show that the account has been paid properly for the previous unreported months? And does the experian inquiry show up right away? Also, how much time with the 10k limit do you think should pass before applying for a card such as CSR?

[newhis]

Yes, HP is instant.

Yes, Amex should report around March and will report your card open in January.

As I said before, with your profile you should be able to get most cards. I think is good to have a plan, see which cards you want, the welcome bonus, the requirements and other factors.

Do you have cards/loans/money with Chase? The CSR is only 50,000 UR points online, so if you want 100,000 UR points you need to apply in a branch to get it, before March 12 I think.

I know HPs are scary but they drop after 2 years and after 1 year they don't matter (score).