Is getting Amex BCE easy?

[Subexistence]

I read through lots of threads saying Amex isn't what it used to be and people with low to mid 600s are getting in. However when I made a thread about getting low limit from BCE, everyone stated I should be grateful to have Amex for its high status. So is Amex BCE easy or not easy to get?

[irunfromcredit]

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@Subexistence wrote:

I read through lots of threads saying Amex isn't what it used to be and people with low to mid 600s are getting in. However when I made a thread about getting low limit from BCE, everyone stated I should be grateful to have Amex for its high status. So is Amex BCE easy or not easy to get?

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I would say it isn't the most difficult card to get approved for, but if I remember correctly your post was more about not bein happy with your $1200 SL.  Approval and starting limit are two different things.  I think the message folks were trying to tell you were be happy with the limit considering your young credit file and lower income (you're a student right?).  It's really all about indivdiual credit profile.  Those folks who get approved with low to mid 600's either get approved with lower limits or have the income to back up the higher SL.  

[irunfromcredit]

And one question I have for you...one of your posts asks about extending promo period to meet the $1000 spend since you said that you are not sure if you can meet the spend.  But then the other post "gripes' about the $1200 limit.  I would imagine a $1200 limit meets your spending patterns, especially if you need a bit longer to meet a $1000 spend...Does the $1200 limit not meet your spending needs???

[Anonymous]

Is it easy to get? I don't know the UW needs for it. But you also have people with the lower scores getting the PRG's and cards from Chase, Citi, etc. I think anything is possible. I also read your other post, and what I gathered from it you were upset with the SL of the card. Do you need more than $1200? You're young with a thin file. The limit will grow. I guess in my rebuilding stage I would have been happy with anything and not questioned a low limit. I remember getting a $1300 from Penfed and jumping up and down because I was approved. With time, aging your profile, more income, good scores, comes better limits. Good luck at growing your CL, I truly hope it all works out for you.

[sarge12]

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@irunfromcredit wrote:

And one question I have for you...one of your posts asks about extending promo period to meet the $1000 spend since you said that you are not sure if you can meet the spend.  But then the other post "gripes' about the $1200 limit.  I would imagine a $1200 limit meets your spending patterns, especially if you need a bit longer to meet a $1000 spend...Does the $1200 limit not meet your spending needs???

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irunfromcredit....most people, myself included, want at least 10X whatever I am likely to ever need to charge on a card, in order to keep utilization low. I normally treat a 10k limit as if it were a 1k limit except for 1 card I let my sister charge on...she pays the bill...which is at 31%.

[Subexistence]

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@irunfromcredit wrote:

And one question I have for you...one of your posts asks about extending promo period to meet the $1000 spend since you said that you are not sure if you can meet the spend.  But then the other post "gripes' about the $1200 limit.  I would imagine a $1200 limit meets your spending patterns, especially if you need a bit longer to meet a $1000 spend...Does the $1200 limit not meet your spending needs???

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I am a student. $1,200 does meet my spending limits but it hurts my LexisNexis reason codes which will hurt my car insurance. It does so because LN uses average credit limit as a factor in determining score. More can be found on http://ficoforums.myfico.com/t5/General-Credit-Topics/Car-Insurance-and-Store-Cards/td-p/4846517
It's also pretty humiliating and embarrasing. One of my friends got AU when he was 16 on a chase card then his dad did a citiDC application for him landing $2000 SL when he was 18. Then I referred him to Discover for him to land $5,000SL unsecured and this was all before a fico score generated. Another one of my friends had $14,500 SL from co-signed m&t visa signature. They are all 18 year old first year students like me. Out of the 3 of them, I care most about credit and even when I had a FICO score I worked really hard on, I still could not come even close to them. A great shame has fallen upon me.

[SecretAzure]

Amex BCE is probably one of the easiest prime cards to get. It requires some history and some income but not that much for either of those things. If you have a clean profile, it's a very easy card to get approved for. However, I think SL depends more on your income than anything else since, as many have stated, you can get approved with low scores. I don't know if any Amex cards are still considered a status card anymore...maybe Gold/Platinum and some co-branded cards but honestly, Amex is just another lender with a different logo.

Why is Amex great though? You could start at $1200 and have $10,000 in 8 months easily (assuming you have sufficient income).

[SecretAzure]

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@Subexistence wrote:

It's also pretty humiliating and embarrasing. One of my friends got AU when he was 16 on a chase card then his dad did a citiDC application for him landing $2000 SL when he was 18. Then I referred him to Discover for him to land $5,000SL unsecured and this was all before a fico score generated. Another one of my friends had $14,500 SL from co-signed m&t visa signature. They are all 18 year old first year students like me. Out of the 3 of them, I care most about credit and even when I had a FICO score I worked really hard on, I still could not come even close to them. A great shame has fallen upon me.

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This is the mindset you have to get out of. It is not humiliating...that is all in your mind. Every profile is different and will be treated as such. A low limit is not embarassing, it is simply the amount at which the lender decides to risk in your favor. They will be more willing to risk more if you show you are trustworthy by their standards...over time. What income did you put, if I might ask? My sister got a 2K SL and she app'd with under $12K annual income (student). She had been AU on 2 of my cards for some months.

[Subexistence]

20k. It's a pretty bad ratio isn't it?

[sarge12]

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@Subexistence wrote:

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@irunfromcredit wrote:

And one question I have for you...one of your posts asks about extending promo period to meet the $1000 spend since you said that you are not sure if you can meet the spend.  But then the other post "gripes' about the $1200 limit.  I would imagine a $1200 limit meets your spending patterns, especially if you need a bit longer to meet a $1000 spend...Does the $1200 limit not meet your spending needs???

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I am a student. $1,200 does meet my spending limits but it hurts my LexisNexis reason codes which will hurt my car insurance. It does so because LN uses average credit limit as a factor in determining score. More can be found on http://ficoforums.myfico.com/t5/General-Credit-Topics/Car-Insurance-and-Store-Cards/td-p/4846517
It's also pretty humiliating and embarrasing. One of my friends got AU when he was 16 on a chase card then his dad did a citiDC application for him landing $2000 SL when he was 18. Then I referred him to Discover for him to land $5,000SL unsecured and this was all before a fico score generated. Another one of my friends had $14,500 SL from co-signed m&t visa signature. They are all 18 year old first year students like me. Out of the 3 of them, I care most about credit and even when I had a FICO score I worked really hard on, I still could not come even close to them. A great shame has fallen upon me.

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Subexistence....how does anyone even know your credit limit? Higher credit limits will surely be available once the card issuers see that you can handle the smaller limit. You are still young, the best credit profiles come with time...lot's of it...be patient.