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BlueSky Preferred Approval/BCP APR reduction

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improvingmycredit
Valued Contributor

BlueSky Preferred Approval/BCP APR reduction

So I applied for the BlueSky Preferred because I have been looking for a restaurant rewards card.  I got approved 10K.  Yay!.  I chose Amex because they recently made the BSP more enticing with the 15K app bonus, 12 mo. 0% APR for purchases and the 2pts dining, hotels and car rental rewards.  Also, the backdating.  No new account showing.  Smiley Happy  I see Amex really trying to compete with CSP with this card.  There aren't many restaurant rewards cards out there and I find myself dining out with my family, friends and business contacts frequently.  I also asked for a APR reduction on my BCP.... approved.... 15.24%  Not a bad day with Amex!  Smiley Happy


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 1 of 19
18 REPLIES 18
Anonymous
Not applicable

Re: BlueSky Preferred Approval/BCP APR reduction

So if you already have an American express they backdate the sky also? What about HP? What is annual fee
Message 2 of 19
Anonymous
Not applicable

Re: BlueSky Preferred Approval/BCP APR reduction

Here is problem with blue sky. I like that it gives more points for dining. I have Amex Costco for that. However blue sky does not compare to csp. The problem with blue sky is that it doesn't really give travel like points. Basically you can use the points for around 1.33 cent discount per point towards travel related expenses. So basically 1.33% cash back card or 2.66% for 2x categories to be used towards travel expenses. With csp, the points you get can be converted to miles which is unlike blue sky points. Depending on tickets, miles can be worth 3-10 cents.
Message 3 of 19
improvingmycredit
Valued Contributor

Re: BlueSky Preferred Approval/BCP APR reduction


@Anonymous wrote:
So if you already have an American express they backdate the sky also? What about HP? What is annual fee

Right!  If you are already a Amex member, your subsequent cards are backdated to the original membership date and reported that way to the CRAs.  It's always a SP first and if approved, then a HP.  Usually EX.  Annual Fee:  $75.00

 

Edit for grammar.  Smiley Happy


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 4 of 19
improvingmycredit
Valued Contributor

Re: BlueSky Preferred Approval/BCP APR reduction


@Anonymous wrote:
Here is problem with blue sky. I like that it gives more points for dining. I have Amex Costco for that. However blue sky does not compare to csp. The problem with blue sky is that it doesn't really give travel like points. Basically you can use the points for around 1.33 cent discount per point towards travel related expenses. So basically 1.33% cash back card or 2.66% for 2x categories to be used towards travel expenses. With csp, the points you get can be converted to miles which is unlike blue sky points. Depending on tickets, miles can be worth 3-10 cents.

I agree, CSP is a better travel rewards card with respect to if you use your travel rewards for upgrades with specific carriers.  However, I chose the card for the dining rewards that can be used as a credit to travel options.  (that along with the $100 credit annually for any flight expenses... baggage, in flight meals etc..this benefit alone is worth the annual fee if you fly just once a year) I found it to be a good fit for me.  Smiley Happy  I rarely upgrade using points and typically fly coach.  My reference to the CSP is only my observation that I believe Amex to be gunning for CSP with this card.  I wish it had no foreign exchange fees.  Smiley Sad


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 5 of 19
improvingmycredit
Valued Contributor

Re: BlueSky Preferred Approval/BCP APR reduction

@ Crashem

 

I wish I had a Costco near me.  I'd have gone for that card in a minute.  It is baffling to me that there really aren't any real dining rewards cards out there besides Citi Forward.  


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 6 of 19
Anonymous
Not applicable

Re: BlueSky Preferred Approval/BCP APR reduction

Csp gives 2 pt for dining. Us bank cash+ has restaurants in 5% category. But I agree very few cards.
Message 7 of 19
webhopper
Moderator Emeritus

Re: BlueSky Preferred Approval/BCP APR reduction


@improvingmycredit wrote:

@ Crashem

 

I wish I had a Costco near me.  I'd have gone for that card in a minute.  It is baffling to me that there really aren't any real dining rewards cards out there besides Citi Forward.  


Chase Amazon = 2 pts for Dining / Restaurants, 2 pts for Gas, 2 pts for drugstores, 3 pts for amazon purchases. Rewards can be redeemed in  $50 increments for cash or statement credit, or, they can be used to pay for purchases at amazon, in any dollar increment.  There is no AF.   Its a better reward card than the plain sapphire IMHO.   Citi Forward is better for Amazon purchases, but for those of us who are not Citi fans, Amazon card is nice.

FICO 8:
Goal: Gardening!
Message 8 of 19
flowfaster
Established Contributor

Re: BlueSky Preferred Approval/BCP APR reduction

How long didd you have your BCP before you got the APR reduction?
Amex BCP/BC/Zync - Amex Business GR - Barclays NFL Visa Sig 49ers/Arrival - BoA BBR - Cap 1 Quicksilver - Citi Forward/Preferred - Chase Amazon/Freedom/Ink Plus - Discover IT - Fidelity Amex - GECRB Amazon/Walmart - PenFed PRV - Target - USAA Amex - US Bank CASH+/Club Carlson
Message 9 of 19
Anonymous
Not applicable

Re: BlueSky Preferred Approval/BCP APR reduction

AmEx is definitely trying to compete with CSP, although I agree that the CSP is superior for the reasons Chasem stated. When you combine CSP with the Freedom card and Chase Checking, it's an even more lopsided comparison.

 

I had no intention of singing up for a Blue Sky card, but AmEx sent me a 40K Blue Sky (non-preferred) taregeted offer literally the day I was going to apply for a BCP using the generic online form, so I took the $500 in free money instead. Smiley Happy

Message 10 of 19
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