Help with Amex?

[Anonymous]

Been mulling over the idea of apping for BCP or BCE, but before I make a decision, I wanted to ask the wonderful people of myFICO their opinion.

All groceries would go on this, obviously. Would probably put my fiance on as an AU so we could maximize gas purchases on the card. We're looking at about ~600-650/month for gas and groceries, so well worth the AF if we went for BCP.

Anyway, I've checked out the credit pulls database, but was wondering your opinions on whether or not either of us could be approved. Not wanting to throw away a HP on a denial.

ME:

724 EX. 3% UTL. No baddies.

What I'm worried about: 10 inqs (7 in the last year, 6 in the last six months), 5 new cards (and a new auto loan) in the last 6 months. Oldest account=18 months/AAoA= 7 months.

HIM:

718 EX. 1% UTL. No baddies.

5 inqs (all within the last 6 months), 4 new cards (and a new auto loan) in the last 6 months. Oldest account=~5 years/AAoA=~2 years.

I think he has the stronger profile, despite my score (for some reason) being slightly higher. He does have significantly more student loan debt if that makes a difference.

Approval odds?

[Anonymous]

Also forgot to mention that neither of us receive a prequal for anything on AMEX's site.

I get an email from AMEX a few times a month telling me "we think you'll love this offer!" with a link for their prepaid debit card. *Eye roll*

[NRB525]

You are probably fine to go for it.

With AMEX, with scores like yours in the mid-700's, you should be fine to get the card. The open question is always what the starting CL will be. That is a short term concern, however, because with simple use and paying on time, you can request a SP CLI after about 60 days, and if approved, request another after 181 days more. You can also ask to get the APR reduced.

There are some very nice sign up bonus links going around for BCP, so check to see you apply through a link that has the best ones. With AMEX bonuses, you can only get the bonus on a particular card once in a lifetime, so best to shop for the best link.

Good luck!

[Anonymous]

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@Anonymous wrote:

Also forgot to mention that neither of us receive a prequal for anything on AMEX's site.

I get an email from AMEX a few times a month telling me "we think you'll love this offer!" with a link for their prepaid debit card. *Eye roll*

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I've never gotten a pre qual on Amex's site, and I've been instantly approved for two cards. Don't let that deter you.

[Anonymous]

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@Anonymous wrote:

Been mulling over the idea of apping for BCP or BCE, but before I make a decision, I wanted to ask the wonderful people of myFICO their opinion.

All groceries would go on this, obviously. Would probably put my fiance on as an AU so we could maximize gas purchases on the card. We're looking at about ~600-650/month for gas and groceries, so well worth the AF if we went for BCP.

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Just since you worded it this way, want to make sure you know that the groceries limit is just groceries. So $6k per year groceries at 6%. Gas is separate. Not sure how your $600-ish per month breaks down, but sounds like you're right on the money for maximizing BCP. 

Also, FYI Targets/Walmarts don't usually (ever?) post as groceries, nor do some small markets if you're in a small town or what not. 

Loved my BCP until I recently switched over to EDP (decided to amass MRs). 

[Anonymous]

You can always try and worst thing that can happen is "Not Approved". All I can tell you is that I have got my Amex BCE/ PRG as my first 2 credit cards starting in the credit world and was not PRE-QUALED on their site at the time. My brother who was also approved with the BCE with only 6 months CREDIT PROFILE as an AU ONLY. IF anything you app will not be approved. I am not sure but I think AMEX does not give out inquiries on declined apps.

[Anonymous]

I guess why I'm so pessimistic is because I was denied an ED a few months ago. I did have some baddies at that time and my EX was 20 points lower, though.