How long should I garden for AMX BCE?

[Anonymous]

My dream 3 cards to have are

AMX BCE (because I don't spend enough for the BCP and sometimes don't spend any, so no reason for AF)

Capital One QS VISA (I know its sad but they are pretty good for misc purchases, and have helped me a lot, still dont have it yet)

*Insert best future travel rewards card here* (I don't travel much right now so I'll choose this when the time comes)

I don't really need that much in purchasing power so 3 cards is all I'll want to deal with once I've got them.

I've been rebuilding but I want to know how soon I could possibly get the cards I want.

Cap1 Secured MC 800cl/0 Bal opened 8/14

Sony Card Visa 750cl/0 Bal opened 2/15

Credit One Visa 500cl/0 Bal opened 9/15

Merrick Bank Visa 550cl/0 Bal got the offer 12/1/15 I figured I wasn't getting anything else for a long time and it doesnt charge instant interest like Credit one

credit score is all around 600 probably will go to 620 when CR updates with the 0 Bals

I have 8 CO's from 2009-2010 they all fall off by 1/2017

I have 15 inq on all because of a recent motorcycle purchase in June and a new car in Sep. I believe 9-10 of the inq are auto related. motorcycle is already paid off.

I was denied last month for a Cap1 QS I don't want to try again for a while at the very least and from what I understand i need at least 700 credit score for AMX.

Should I wait 2 full years and app for AMX in Jan 2018? or is there any possiblity of getting it earlier then that? 

I am closing my Credit one card the month it turns one year, and probably closing the cap1 secured card too when it hits 2 years old, no reason for those no rewarding AFs

Thanks for reading.

[B335is]

Have you tried working on those CO's? Amex wouldn't give me a revolver until my reports were totall clean. Their charge cards tend to be a little bit easier to get approved for (like 650+) but it's not just all about Fico score either.

[Anonymous]

Let those cards rebuild, and let those chargeoffs age off (or work on disputing them off if they can be). 

Once your report is clean and you have 2 years of history you'll be able to get anything you want. Just be patient. 

[Anonymous]

I know you want the QS Visa but have you considered letting your cards age a bit more and getting into a QS1?  A lot of people have reported Capital One offering them a PC to the annual fee free QS MasterCard after a while and ending up with decent limits as time goes on.

As for AMEX, they like clean files and it seems like scores need to be something in the mid to upper 600s at the lowest, 700 is a much better bet depending on your file.  You may have to wait until all of your COs age off but they MIGHT let you in before that depening on what the last couple years have looked like.

[Anonymous]

I'm waiting on a Amex BCE decison right now. Fingers crossed.

[takeshi74]

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@Anonymous wrote:

Should I wait 2 full years and app for AMX in Jan 2018? or is there any possiblity of getting it earlier then that? 

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Don't just rely on time.  Hit the Rebuilding subforum and get to work on your derogs.

[Anonymous]

Thank you for the replies, the CO's are a big problem, but I have tried to sweep them 2 years ago alas they are persistant on my CR. 

Regardless of that I have started to dispute them again last week, 8 CO's are a lot of work, hopefully one or two get deleted, however I'm almost positive a clean record wont happen until summer 2017 considering how long it takes to update.

I know i just need to be patient, but I want to earn money not pay god aweful AF's or instant interest on these crap cards I have now.

Well I suppose I will legitimately need to wait until 2018 for AMX BCE however by then I might have given up on having the pretty card and get the much lower apr NFCU Go Rewards card, which looks amazing on paper, just lacking the AMX Blue card look when paying for things...

The whole purpose of the post was to get an idea of when I should app with good approval odds on the AMX BCE.

But what about apping for the Cap 1 QS again, when do you think would be a good time 6months, a year?

I would rather avoid the QS1 if possible.

[Creditdreamer]

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@Anonymous wrote:

Thank you for the replies, the CO's are a big problem, but I have tried to sweep them 2 years ago alas they are persistant on my CR. 

Regardless of that I have started to dispute them again last week, 8 CO's are a lot of work, hopefully one or two get deleted, however I'm almost positive a clean record wont happen until summer 2017 considering how long it takes to update.

I know i just need to be patient, but I want to earn money not pay god aweful AF's or instant interest on these crap cards I have now.

Well I suppose I will legitimately need to wait until 2018 for AMX BCE however by then I might have given up on having the pretty card and get the much lower apr NFCU Go Rewards card, which looks amazing on paper, just lacking the AMX Blue card look when paying for things...

The whole purpose of the post was to get an idea of when I should app with good approval odds on the AMX BCE.

But what about apping for the Cap 1 QS again, when do you think would be a good time 6months, a year?

I would rather avoid the QS1 if possible.

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I was in your same boat very recently. Until everything changed when I got pre-approved (on their website) for the Capital One Platinum and Quicksilver One. I didn't want to pay the AF for the Quicksilver One, it wasn't worth it to me. I apped for the Platinum and was approved. Score. Then I read on here about people PCing their Platinums to Quicksilvers with no AF. So after running a ton through the card in a month and paying every couple of days, I chatted with customer service and they approved my PC to a Quicksilver. Already have earned $12 back in the last week. The other thing I did to get my foot in the door with a prime lender was app for the Discover it. I was denied and they countered with the Discover it secured card. I have upped my limit to $800 through adding more deposits, they gave me the 0% offer for 12 months (even though I don't plan on using it), and I have run a ton of money through that card (purchases I would have been making otherwise and not earning any cashback on). I have $183 from Discover for my first statement's cashback balance because of the Apple Pay bonus until the end of the quarter. Even without apple pay, I'd be at about 140 cash back. AND I will get that amount again at the end of my 12 months. I'm being paid to have credit cards instead of paying to have credit cards. And I'm still very much in the rebuilding stage.

So what I would do is wait until your low balances report. Then check your prequal for Capital One, and try to app for the Discover it and see if they counter with the secured. The cash back I'm earning on regular purchases is kind of nuts right now. It's a YMMV sitatuon overall, but that is where I would start if you're aiming to get cash back. Sorry that was so long winded! I'm very excited about my cash back.

ETA: I also have a Credit One card and didn't want to pay the fee. So I called them and told them I wanted to close it because the fee was too high and they removed my fee. I'm keeping it for AAoA and to have an extra card to be safe. And if they try to charge you for CLI, call and tell them you want one and don't want to pay for it and they will give it to you without the fee.

[Anonymous]

Well I was looking through my denial letters from Cap1 and now I remember the other reason why I dont try for QS1, the letter for denial always says "Based on your application information, there are too many Capital One accounts", this was from the same day I tried for the QS

I looked at the one I tried from april and same reason...

The QS app says you basically dont have good enough credit with explanation lines.

I remember asking why I would get the QS1 response and I was told you can only have 2 subprime cards with capital one, except unless the Sony card is subprime I only have the secured card?

[jeffm4688]

Amex is a very weird bank, however I recently made it in the door.

I got approved for a amex ED with a 692 (and one unpaid CA for $1700 from "a year and a half ago" even though it was from 2012) but it was a utility account with dispute remarks. I had 35+ INQ's and like 21 ish accounts in the last year. Unfortunatley I only got approved for $1000 which is my lowest card...

I had applied for the green a week before getting approved for the ED with a score in the 665's but got denied. The only thing that changed was 2 CO's which were PIF got removed. So take it for what you will, amex approved with a single CA but denied with 2 PIF CO's and the same CA.

I app'd for the PRG yesterday and got approved with a 687. 

You should try and see if you can get the CO/CAs removed, I was able to goodwill quite a few but it takes a little persistence.