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AMEX Cash Magnet!!!! Mini Spree—UPDATE: Cap1 VANISHED! Yay!

tenaya
Frequent Contributor

AMEX Cash Magnet!!!! Mini Spree—UPDATE: Cap1 VANISHED! Yay!

So much for gardening! Smiley LOL

 

So it's been a little over a year since my credit crash and burn and here I am with an AMERICAN EXPRESS card! Which I really wanted.

 

Cash Magnet, $1000 starting limit (which I am happy with, taking into account my low income, credit report, utilization, etc).

 

And I'm also getting a sign-up bonus of $150!!! A few months ago I applied for a Delta Gold and got turned down! Things can change quickly, that's all I can tell you.

 

I don't know the interest rate yet but I assume it's high.

 

Data Points:

 

EX FICO 8: 676

Oldest account: 20+ years

Youngest account (before this): 5 months

Inquiries in the last year: 3 (I think). 

AAoA: 6-something years

Income: 25K

DTI: about 19%

Utilization: 58%. (High because of closed credit cards—which are in good standing—on a low-interest payment plan.) Utilization on open accounts is low, under 10%.

Baddies: 90-day-late over a year old. Settled for less than a full amount on one account, over a year old. No charge-offs or judgments or anything else. Only those baddies.

 

I also applied for a Capital One Quicksilver, since their preapproval is showing a SIGN-UP BONUS this time, but when I finished the app they said they had "technical difficulties" and to call no less than 24 hours from now to see the status of the account.

 

I probably shouldn't have applied for the Quicksilver, but I want to spread my credit over many banks, and a bird in the hand (meaning a solid prequalify offer) is better than hoping I'll qualify for something else...

 

Now my scores, which I have been so faithfully cultivating, are going to take a hit. Oh well. I want to get a Citibank Double Cash but it's not showing up in preapprovals now. Assuming I get the Quicksilver, I'll be happy with that for quite a while. With Navy, Discover, and now AMEX, I am REALLY, REALLY happy!

 

UPDATE: I called Cap1 about my Quicksilver application with the error message and they can find nothing. They said it didn't go through. I have not gotten any alerts about triple whipple hard pulls either. WHEW! I told the Cap1 rep that I was going to wait until later before applying again, because maybe I jumped the gun. (You think? Smiley LOL )


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

14 REPLIES 14
M_Smart007
Epic Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Congratulations!

Message 2 of 15
AverageJoesCredit
Mega Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Thats awesomeSmiley Happy a big win for our Team #LIErClub2020💰💳😎
Message 3 of 15
AllZero
Super Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Congratulations on your approval!
Message 4 of 15
nuohlac
Valued Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Congratulations on your approval!!!








Message 5 of 15
tenaya
Frequent Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Thanks, M_Smart and thanks Average Joe! Smiley LOL

 

I know how I am—in the back of my mind I will always want to get more, more, more cards, but somehow this acceptance has helped me calm down. I think that gardening will be easier now. AMEX was "the one" that I really wanted the most. There are a few other cards on my shortlist, like Apple, Chase, Ducks Unlimited, etc, but they can wait. (With Chase, it will HAVE to wait! Smiley Wink )

 

It's very encouraging as a LIE-r (low-income-earner! Smiley Very Happy ) to get this card. What I really want to do now is cultivate this new relationship with AMEX, as well as Navy and my other cards.

 

Thanks so much for everyone on this forum for all your amazing advice and help!


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

Message 6 of 15
Meanmchine
Super Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Congrats on your happiness


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 7 of 15
Saeren
Mega Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Congrats @tenaya! I remember when the only card in your sig was that Green Dot. You've come a long way! Smiley Happy





Message 8 of 15
Steve891
Senior Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app

Congrats on your Amex Cash Magnet approval! Good luck with Cap One!




Message 9 of 15
tenaya
Frequent Contributor

Re: AMEX Cash Magnet!!!! Mini Spree—still waiting on Cap1 app


@Saeren wrote:

Congrats @tenaya! I remember when the only card in your sig was that Green Dot. You've come a long way! Smiley Happy


Thanks, @Saeren! You have always been so encouraging. I remember those days too. They weren't that long ago (a little more than a year!). I am still pinching myself over the AMEX card. I really didn't want a Delta or Hilton card right now (which was all I was preapproved for before) and so when I was preapproved for a cash back card with a Sign-up bonus, I fell out of the garden fast! LOL!

 

I'm sorta kinda regretting the Cap1 app. I want it but don't want it right now. (I want it eventually—but maybe it would have been better to wait.) If the app got lost in the abyss and I never got any hard pulls, I don't think I'd pursue it at the moment. But if they're going to do those triple whipple hard pulls on me, I want a card out of it! Smiley LOL

 

Thanks so much everyone for your congratulations and well wishes. 


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

Message 10 of 15
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