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Amex ED and BCP

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Anonymous
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Amex ED and BCP

Got a preapproval offer in the mail for an ED card, bit the bullet and got approved for 15k with 18% APR, woot!! Unfortunately, I had no idea that the BC and BCP have similar underwriting requirements and ended up getting a mailer literally the next day for BC. Called in to apply, unaware of the 5 day rule, got upsold to trying for BCP, and was denied. I called recon and I've been "pending" with them for like 3 weeks now. When I call in they say it's "denied but not finalized" whatever that means? Agent can't help because they aren't actually underwriting.

 

Never ever had any baddies, always make huge payments, no late payments or anything. My util was kind of high before at like 45% of 34k when I first got approved (and I noticed my car that I sold is reported still as having a balance which I disputed, still in progress). That being said though, I BT'd $6k from my Chase Freedom onto the Everyday, and paid $4k of it already, not to mention the added 15k to my CL. The updated Experian report has the balance transfer debt removed from the OG card, but doesn't report the Everyday yet, putting my util at 29% so I had a feeling if they're willing to give me 15k @ 18% APR with my old stats then my new score should be more than enough for a BCP, it jumped like 20 points.

 

I got impatient and applied again since its just a soft pull (it's been like 3 weeks as I said) and got "instantly declined" but it does not show up in the Amex check status page, just the original one does. Dunno what that means.

 

I'm just bummed because now I feel like I'm stuck with the wrong card and I really want the 6% back on groceries Smiley Sad I never even got a snail mail denial letter so I dunno where to send a recon letter to the Executive team. Does anyone have any suggestions on what I should do? The original BCP denial was based off of my util...

Message 1 of 5
4 REPLIES 4
SomewhereIn505
Valued Contributor

Re: Amex ED and BCP

The good thing is that your got your foot in the door with AmEx with EDC. Give it a month or two, and BCP might show up.

 

Just remember, if it says “Tson, you’ve been preapproved” then you should be good. If it says “Tson, expanding your membership is easy” it’s likely a denial. 

 

I applied for EDC to get my foot into the door. I got BCE the next month. I wish I had held out for BCP which showed up a month after that. Now I’m waiting to upgrade (late December/January 2019). 


3/16/18 FICO9 TU-700 EQ-669 EX-716
6/26/18 FICO9 TU-750, EQ-672, EX-789

Message 2 of 5
Anonymous
Not applicable

Re: Amex ED and BCP

Just be patient Amex takes a couple statements to post to the credit bureaus. For me I received my BCED in March it didn’t show up on my my credit reports until June.
Message 3 of 5
Anonymous
Not applicable

Re: Amex ED and BCP

I will most likely be PCing my BCP to BCE this fall, just want to throw out there that after doing the math the best you can get out of the BCP (spending all of the 6k/yr) is an actual return of 4.4% after AF. Considering also that disco and CF have 3 months of 5% on groceries make sure your already spending at least $74 a week to beat the BCE, and thats barely beating it.
Message 4 of 5
Anonymous
Not applicable

Re: Amex ED and BCP

I have a family of six, my biweekly grocery shops are usually in the 400-500 range Smiley Tongue

 

That is a really good tip on the preapproval message, Somewhere. I'll keep an eye out for that message to switch over. Can't happen fast enough...

Message 5 of 5
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