Short History, Clean Thin File…Approval Odds for Amex BCE or BCP?

[Anonymous]

I want to preface this thread by saying thanks to everyone in the community here. Much of my beginning success has been to reading countless threads by the wonderful and knowledgable people here.

Profile

Income: ~$37000

Oldest Account: 7 months

AAoA (according to myfico): 6 months

Cards: US Bank HD Secured ($500, 5/15); Cap1 Platinum ($1500, 8/15); Discover It ($1000, 12/15)* [I have no other credit history besides these]

Scores: 716 EX, 707 EQ, 712 TU [pulled recently]

*I’ve just (as of an hour ago) apped for the Discover It and got approved for $1000.

I currently always pay in full every month and never missed a payment.

I would like to app for the Amex BCP because I live in a household with a large grocery spend after doing the math, we could easily max out at $6000 a year to get the max 4.75% cash back (after AF).

Do I have any chance at the BCP or would I have better odds at getting the BCE? If not, how long should I garden/wait until I would have better approval odds?

Thanks!

[jacetx]

Have you tried their prequal site?

https://www.americanexpress.com/us/credit-cards/      Bottom of the page

[Anonymous]

Yes, I did.

I don't get any offers just recommendations for both cards when I select "cash back".

[jacetx]

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@Anonymous wrote:

Yes, I did.

I don't get any offers just recommendations for both cards when I select "cash back".

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I read somewhere in the boards that they like thin files. I got 4 AMEX cards this year with a BK on file and no prequal. If you can handle an inquiry on your Experian bureau, go for it.

[Anonymous]

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@Anonymous wrote:

I want to preface this thread by saying thanks to everyone in the community here. Much of my beginning success has been to reading countless threads by the wonderful and knowledgable people here.

Profile

Income: ~$37000

Oldest Account: 7 months

AAoA (according to myfico): 6 months

Cards: US Bank HD Secured ($500, 5/15); Cap1 Platinum ($1500, 8/15); Discover It ($1000, 12/15)* [I have no other credit history besides these]

Scores: 716 EX, 707 EQ, 712 TU [pulled recently]

*I’ve just (as of an hour ago) apped for the Discover It and got approved for $1000.

I currently always pay in full every month and never missed a payment.

I would like to app for the Amex BCP because I live in a household with a large grocery spend after doing the math, we could easily max out at $6000 a year to get the max 4.75% cash back (after AF).

Do I have any chance at the BCP or would I have better odds at getting the BCE? If not, how long should I garden/wait until I would have better approval odds?

Thanks!

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Your listed cards are almost all new within the last few months (with one being new just as of today!). You have almost no credit history. I'd give it 6 more months with those cards, build a history, and then give it a go. Amex BCP can be a difficult card to get. 12 months would even be more ideal if you wish to increase your chances of acceptance.

[Anonymous]

Thanks for the replies.

I'm totally on board for waiting it out if it's for the best.

I know that I have a really short history (or basically none like you've said, lol) and I don't want to do too much too soon.

I just have this picture of where want my credit to be and it's just hard waiting for it happen but time can be your best friend 

[newhis]

I started with 2 cards and at around the 7th month I got prequal offers from Amex.

Because you just got a Discover, I'll say wait 3 months at least, then check prequal site, as soon as you get something, go for it.

Have you asked Cap1 for a CLI? You can try to increase your limits before another card, so you may get a better SL on your next card. Amex grow fast anyway, but is better to start at 3K than 1K with them. 

Good luck.

[Anonymous]

Good advice here...

[Anonymous]

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@newhis wrote:

I started with 2 cards and at around the 7th month I got prequal offers from Amex.

Because you just got a Discover, I'll say wait 3 months at least, then check prequal site, as soon as you get something, go for it.

Have you asked Cap1 for a CLI? You can try to increase your limits before another card, so you may get a better SL on your next card. Amex grow fast anyway, but is better to start at 3K than 1K with them. 

Good luck.

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I originally had a SL of $500 and got a CLI sometime in early October

[Jerry45]

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@Anonymous wrote:

I want to preface this thread by saying thanks to everyone in the community here. Much of my beginning success has been to reading countless threads by the wonderful and knowledgable people here.

Profile

Income: ~$37000

Oldest Account: 7 months

AAoA (according to myfico): 6 months

Cards: US Bank HD Secured ($500, 5/15); Cap1 Platinum ($1500, 8/15); Discover It ($1000, 12/15)* [I have no other credit history besides these]

Scores: 716 EX, 707 EQ, 712 TU [pulled recently]

*I’ve just (as of an hour ago) apped for the Discover It and got approved for $1000.

I currently always pay in full every month and never missed a payment.

I would like to app for the Amex BCP because I live in a household with a large grocery spend after doing the math, we could easily max out at $6000 a year to get the max 4.75% cash back (after AF).

Do I have any chance at the BCP or would I have better odds at getting the BCE? If not, how long should I garden/wait until I would have better approval odds?

Thanks!

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I waited for my oldest CL to hit one year before applying to top tier cards like Chase etc...It was good advice given here by many myfico board members. Good Luck