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AMEX Blue Cash PREFERRED with $250 bonus


AMEX Blue Cash PREFERRED with $250 bonus

I don't have the best of credit, but had an offer for the American Express Blue Cash Preferred. I wanted to basically hold off on new accounts because of a low AAoA but I really wanted this card (actually, I wanted the Blue Cash Everyday because of no annual fee) but I had an offer for $250 for preferred, so even taking the annual fee of $95, I would have come out ahead at least for the first year PLUS get 6% on groceries and 3% on gas. (I previously saw the BCE at $100 and the BCP at $150).


My credit report is as follows:


Loan from 8 years ago I got from my credit union to build credit (one year term, 100% repayment)

Discover (unpaid) CHARGEOFF from six years ago, gone from TU but still on EX and EQ

Capital One Secured Mastercard $49 deposit for $200 limit, bumped to $500, opened 07/16

Chase Freedom $500 limit, opened 10/17

CIti Double Cash $1,000 limit, opened 10/17

4% Credit Utilization


FICO 8 SCORES (AMEX pulled Experian for sure, because I got the alert, but still uncertain if any others were pulled). EX 634 (as of day of application); TU 710; EQ 638


TU and EQ are higher because those are from last month when my utilization rate was 38% (I pay in full, but my Citi Double Cash cut the statement with a higher balance showing and now was fully paid).


APPROVED $1,000 limit ($750 available for 0%BT till 2018, but I don't have any balances to transfer because I don't have CC debt). I am not complaining of the limit. I hope it grows as time goes on (Experian should be clear of blemishes by 08/17).


If you want the bonus check the website and keep coming back till the right bonus is showing!


Message 1 of 5
Established Contributor

Re: AMEX Blue Cash PREFERRED with $250 bonus

Good job!!  Terrific card and you are in.  Responsible use and time, the card will grow!!

Amex Gold =Amex ED 20k = Amex BCP 14k = Amex SPG Lux 2k = Arrival 2k = Ring 14k = BOA 321 30k = BOA BBR 10k = CSR 25k = Freedom 10k = Citi Simplicity 9k = Citi DC 5k = Citi DP 3k = DCVR IT 16k = DCVR IT(2) 10k = CAP1 QS 15k = NFCU CR24k/AE25k/CLOC 15k = BBVA 14k = Wells Plat. 5k = (2) US Bank Cash+ 13k, 18k = PenFed 17k

FICO scores TU 764 EX 739 EQ 745
Message 2 of 5
Valued Contributor

Re: AMEX Blue Cash PREFERRED with $250 bonus

Congratulations, AMEX always plus Experian so that is the score that counts for them.  AMEX normally requires around 660 so you did well.  There is a great thread here on AMEX CLI's and how they work.  Keep your utilization low and in 91 days you can apply for a 3x CLI and likley get approved.  I have had my AMEX ED for just over a year and went from 3k to 12k.  Take good care of AMEX and they take good care of you.  We use our ED as our go to card and have built a nice balance of points.  Also you can change products at some point, not sure how many months but I am sure you will be able to do so before the annual fee next year.

Message 3 of 5

Re: AMEX Blue Cash PREFERRED with $250 bonus

I will look into applying for a SLI at the appropriate moment. I know I was a barely able to squeeze by, given that my Experian FICO score was low, but I wonder my application was helped by the fact that I don't have any "subprime credit card" lenders on my profile (e.g. Merrick Bank) and maybe they liked that underwriters at Chase and Citi took risks with me. I am sure they have their own UW criteria, but perhaps the "quality" of the lenders plays a factor in internal decisions.

Message 4 of 5
Established Contributor

Re: AMEX Blue Cash PREFERRED with $250 bonus

That's Good News. Congratulations on your approval. Enjoy your new SL and use it wisely!
OpenSky®VSA: $375 | First ProgressMC: $404 | CapOneMC: $605 | CapOneQSMC: $2350 | Cabela'sVSA: $4000 | Barclaycard® RewardsMC: $20000 | BlazeMC: $2000 | First SavingsMC: $1500 | LegacyVSA:$1750 | AMEX BCP®: $9000 | AMEX Hilton Honors™: $6000 l Discover: $5300 | Chase Freedom: $4800 | Chase SLATE: $3800 | CSP®: $7000 | United MileagePlus®: $7000 | Amazon RewardsVSA: $4800 | Old Navy: $4500 | Gap: $4500 | Banana Republic: $4500 | Walmart: $10000 | SamsClub:$10000 | AEO®VSA: $8000 | TJX MC: $6000 | Amazon: $4000 | Belk: $5000 | Macy's: $20000 | J.Crew: $3000 | Overstock: $6200 | SMG VSA: $3800 | Abercrombie: $2100 | Express: $2900 | Buckle: $2500 | Kay: $6750 | PayPal: $3520 | Citi® / AAdvantage® Platinum: $16000 ***FICO08 as of: Dec 19th 2017-EX: 731 | EQ: 727 | TU: 756***

Message 5 of 5
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