Will be applying for AMEX Platinum in early October, should I still apply now for AMEX BCE?

[Anonymous]

Hey everyone,

I posted recently about applying for an AMEX platinum this coming October (I'll be traveling to 30+ countries in summer of 2016). I actually NEED to get approved for that card and, from the advice I've gotten, think I'm on the right track lol

However, I also was hoping to get a good cash back card in time for this summer (i'll be spending a lot of money). I really want to apply for AMEX BCE right now and think my approval odds are great, but I was wondering...would you guys advise against this given that my first priority is getting approved for the platinum? Could it help if I get approved for BCE and then apply for platinum charge in October? 

I'm currently a student. I have 4 credit cards, 3 of which are in my name and opened last year and 1 of which is a joint account I just got added to by my mom (it's 20 years old). This means I have 3 inquiries since May of last year. My average credit history is a little over 5 years. My official Experian FICO score is 735 and should go up after my CLI is reflected. My Credit Karma transunion and equifax are both 754. My current total credit limit is 3800, but I just got approved for an additional 1000 on one of my cards, which should increase my score. My gross income is 30,000 plus 56,000 in scholarships and grants, so effectively 86,000. 

Thanks for all of your help!

[Anonymous]

---

@Anonymous wrote:

Hey everyone,

I posted recently about applying for an AMEX platinum this coming October (I'll be traveling to 30+ countries in summer of 2016). I actually NEED to get approved for that card and, from the advice I've gotten, think I'm on the right track lol

However, I also was hoping to get a good cash back card in time for this summer (i'll be spending a lot of money). I really want to apply for AMEX BCE right now and think my approval odds are great, but I was wondering...would you guys advise against this given that my first priority is getting approved for the platinum? Could it help if I get approved for BCE and then apply for platinum charge in October? 

I'm currently a student. I have 4 credit cards, 3 of which are in my name and opened last year and 1 of which is a joint account I just got added to by my mom (it's 20 years old). This means I have 3 inquiries since May of last year. My average credit history is a little over 5 years. My official Experian FICO score is 735 and should go up after my CLI is reflected. My Credit Karma transunion and equifax are both 754. My current total credit limit is 3800, but I just got approved for an additional 1000 on one of my cards, which should increase my score. My gross income is 30,000 plus 56,000 in scholarships and grants, so effectively 86,000. 

Thanks for all of your help!

---

Is anything past the $30,000 taxable?

[Anonymous]

No, it's scholarships/grants that cover tuition and living expenses. I was told that many credit companies allow students to use these figures in addition to work income. 

[Anonymous]

---

@Anonymous wrote:

No, it's scholarships/grants that cover tuition and living expenses. I was told that many credit companies allow students to use these figures in addition to work income. 

---

Interesting.

I personally am leery about putting more than W2 income on any Centurion bank issued card.

[Anonymous]

Okay, I'll still use it and provide the necessary documents if they ask. They're not the IRS so I'm not particularly worried about that aspect. Do you have any opinions on applying for BCE now? Do you think the extra inquiry for BCE would be too hurtful?

[Anonymous]

---

@Anonymous wrote:

Okay, I'll still use it and provide the necessary documents if they ask. They're not the IRS so I'm not particularly worried about that aspect. Do you have any opinions on applying for BCE now? Do you think the extra inquiry for BCE would be too hurtful?

---

If you want a Charge and Revolver same time, I'd advise applying for both at the same time for best chance of 1 HP.

Charge first, Revolver second!

[Anonymous]

Okay, that's what I was thinking. The thing is, I kind of need the revolver now whereas I need the charge starting in October (so that I can use it for a year until the end of Summer 2016). I won't really have use for the platinum after August of 2016 and will likely downgrade. I'm trying to gauge how much my score will go down if I apply for BCE right now so that I can figure out if I'll still be in good shape to apply for platinum in October. 

[Anonymous]

---

@Anonymous wrote:

Okay, that's what I was thinking. The thing is, I kind of need the revolver now whereas I need the charge starting in October (so that I can use it for a year until the end of Summer 2016). I won't really have use for the platinum after August of 2016 and will likely downgrade. I'm trying to gauge how much my score will go down if I apply for BCE right now so that I can figure out if I'll still be in good shape to apply for platinum in October. 

---

Why not look into a PRG+BCE now to maximize use of the HP and let your internal score build up to your Platinum app at that time?

[Anonymous]

How willing do you think they'd be if I were approved for Gold and BCE to upgrade my Gold to Platinum when I asked in October? That seems like a cool idea. Also is there a chance that it's actually 2 HPs?

[Anonymous]

---

@Anonymous wrote:

How willing do you think they'd be if I were approved for Gold and BCE to upgrade my Gold to Platinum when I asked in October? That seems like a cool idea. Also is there a chance that it's actually 2 HPs?

---

Don't believe they'd upgrade before 13 months due to CARD act. PRG will help you establish Charge history with them and the BCE will also help you out as far as internal score goes.