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AMEX BLUE CASH PREFERRED, 8K limit, low income

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Frequent Contributor

AMEX BLUE CASH PREFERRED, 8K limit, low income

AMEX BLUE CASH PREFERRED, $8000 limit, $300 sign-up bonus! APPROVED!

 

So I used self-control and didn't app for anything for a whopping SEVEN months! LOL! (It seems that in the last two years, it's been really hard to go longer than a few months without at least apping.) But with the plague and all, and also knowing that some much-anticipated money was arriving soon, I was able to wait. (The money allowed me to get completely out of debt.) My score jumped up after I paid off all my debts, and also my 90-day-late baddie just turned two years old. 

 

Data points: 

Experian FICO score: 690

Average age of accounts: 4+ years. Age of longest account: 20+ years.

Income: $22K (Loooowwwww.)

Debt to income ratio: LOOOWWWW. I'm going to guess 5% or something.

Utilization: 3%

Inquiries in the last year: 3 or so? Not sure, but most of them have aged out. 

Baddies: 90-day-late, two years old. Paid off less than full amount. No other baddies before or after.

AMEX has this optional line on their application where you can fill in your other assets (cash value). I was able to declare a nice sum because of the money that I finally got. That may have helped me, who knows.

 

I have a Cash Magnet card with $1K that was opened in February 2020. I've used it liberally but never carried much of a balance. I've been waiting to see if AMEX would offer me anything, but until recently, nada. Then a few weeks ago (early November) I got preapprovals for the travel cards (Delta Gold, Hilton, etc). None of the other cards had preapprovals. 

 

Then I checked again yesterday, and as far as I can tell, EVERYTHING was suddenly preapproved! So I snapped up the Blue Cash Preferred with its $300 sign-up bonus. Highest interest rate (23.99 or something) but an $8K limit, which is more than enough for me! I don't intend to carry a balance so I don't care about the interest rate. 

 

Thanks to everyone here, I knew to be patient and wait, and it paid off! Thanks so much!

 

EDITED TO ADD: I also have gotten some CLIs in the past few months: Amazon Store Card: originally $1700, increased to $4200. Capital One Quicksilver, originally $1K, increased to $1,100! (Woo hoo! A whopping $100!!!!)


Overstock $9,750, Walmart $2.5K, Discover IT Cash Back $2.4K, NFCU Flagship $5K (formerly CashRewards), Shell (Citi) $800, NFCU More Rewards $17K, AMEX Cash Magnet $1K, Citizens Cash Back $2.8K, Amazon Store Card $4.2K, Cap1 QS $1.1K, FBNO Visa $1.6K, AMEX Blue Cash Preferred, $8K, eBay MC $800 (RIP Green Dot Platinum Secured)
Current FICO8: EQ 700, TU 700, EX 688   Current FICO9: EQ 715, EX 714
Goal for December 2019: FICO8 640-700 (reached! Fico 681!) | Goal for December 2020: FICO8 685-700 (Reached! 690!) | Goal for December 2021: FICO8 700-740
Starting Score: 539  Current Score: 690  Goal Score: 760
My credit recovery journal

33 REPLIES 33
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Community Leader
Mega Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Awesome! Im always happy when a fellow LIEr succeedsSmiley Happy. Now if i could come into some money i could pay off my debt and see 800s lol.  Thats a great limit. EnjoySmiley Happy

Message 2 of 34
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Valued Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Congrats on your approval!!

American Express Business Gold(NPSL 10k) Chase CSP (25k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(4.1k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (1k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(4.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (500✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until June 2021

FICO 8 Scores EX 700 EQ 696 TU 703
AAOA 5.2yrs TCL=268,700
Message 3 of 34
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Valued Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Congratulations on your approval and CLIs!



Current FICO 8:

Credit Age:

Inquiries:

Goal Cards:


Message 4 of 34
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Epic Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Congratulations!

popcorn eating emoticon.gif

Message 5 of 34
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Moderator

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Grats on the BCP and your CLIs Smiley Happy

Message 6 of 34
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Frequent Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Nice starting limit and approval.  Congratulations!

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC'd to Quicksilver (9/19) - $800 CL
Capital One QuicksilverOne (3/19) - $1800 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $1300 CL
Amazon Prime Store Card (4/20) - $5000 CL
NFCU cashRewards (4/20) - $1500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL

Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2020 - 672
Equifax FICO 8 score 9/2020 - 674
TransUnion FICO 8 score 10/2020 - 658
Message 7 of 34
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Valued Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Congrats on the approval!

Message 8 of 34
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Regular Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Congrats on your approval!  I love my BCP, especially for groceries.  Even with burning through the 6K foor groceries early this year, I am at $421 cash back since January.

Message 9 of 34
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Super Contributor

Re: AMEX BLUE CASH PREFERRED, 8K limit, low income

Congratulations on your approval and CLIs!
Message 10 of 34
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