Oh dear, Amex BCP

[Anonymous]

Let us know the limit, give them a call

[Rhaeny]

Awww chucks....Well now Congratulations!

[Cdnewmanpac]

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@Revelate wrote:

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@Duncanrr wrote:
How long of history do you have with Amex. I think their internal score is more important to them than your FICO.

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I was approved for the Zync 9/18/12, so not quite 4 months.

On average I spent around ~2200/month during that time on the Zync.  

Put down the same information as I did for Zync, 125K income and 25-50K assets.

I'm really very surprised by this, and more than a little amused too.

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And this is where all that "get in with Amex" advice comes from. I think it highly unlikely you would have gotten this card without the opportunity to see you "in action" that the zync provided. Yes, they still use FICO scores, but they also use an internal algorithm that favors income (which you have) and spending (which you did). Sure, lots of people get the BCP without any other amex cards. But for those with a decent income, some lingering bad history and a habit of using the cards, the zync will be sorely missed (and the green will be a much more expensive way to achieve the same thing). Congrats. Enjoy the card.

[Revelate]

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@android01 wrote:

Congrats, Revelate!  I know you've been eyeing this card for quite a while.  

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Yeah, it's been on my list since I first wrote one when I joined this forum .

Now I need to go see about getting my BOFA card PC'd to their Travel Rewards one as the 1-2-3 Cash Rewards doesn't do me any good anymore.

Entertaining downside to this one, now I am going to have to carry 3 cards, oh the horror!  (BCP / Zync / some random MC or Visa)

[Repo-ed]

Great work, grats!

[toppers555]

Congrats!!

[Open123]

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@Revelate wrote:

It'll be interesting to see what the limit is and also what the APR is as well; I'll also need to check my EQ report and CK/TU to see if any additional inquiry was lodged for a borderline app which wouldn't surprise me in the slighest.  

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If your avg spend on your Zync was approximately $2k per month, I'd say your CL will be around $5 - $10k, at least.  The higher the "transaction" score of your spend and payment score (assuming you paid in lump sum as opposed to 5 payments per month), the higher the CL.

My guess would be around $10K.  All things being equal, Amex rewards high spend and income, which fits with their spend-centric model.

[Anonymous]

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@Revelate wrote:

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@android01 wrote:

Congrats, Revelate!  I know you've been eyeing this card for quite a while.  

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Yeah, it's been on my list since I first wrote one when I joined this forum .

Now I need to go see about getting my BOFA card PC'd to their Travel Rewards one as the 1-2-3 Cash Rewards doesn't do me any good anymore.

Entertaining downside to this one, now I am going to have to carry 3 cards, oh the horror!  (BCP / Zync / some random MC or Visa)

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US bank flexperks or cash+. Will take a manual review and some major work with underwriting, but they may grant you the card. Or they may give you a lower tier product and give you the card you want in 6 months.

[Anonymous]

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@Revelate wrote:

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@jsucool76 wrote:
Congrats!

Did you find out your limit?

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Not yet, don't think going to poke the bear either.  Granted my "Amex understanding" has been laughably proven wrong today, but I'd guess it's in the 1-2K range.   Nothing spectacular but if I can get a couple CLI's over the next year to somewhere above 5K, I'll be ahead of where I was expecting to be from a limit standpoint.

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Hey Revelate you can call New Account without poking the bear ( 1-888-826-3471 ) all the system ask for is your SS # and Zip.

[Revelate]

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@Open123 wrote:

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@Revelate wrote:

It'll be interesting to see what the limit is and also what the APR is as well; I'll also need to check my EQ report and CK/TU to see if any additional inquiry was lodged for a borderline app which wouldn't surprise me in the slighest.  

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If your avg spend on your Zync was approximately $2k per month, I'd say your CL will be around $5 - $10k, at least.  The higher the "transaction" score of your spend and payment score (assuming you paid in lump sum as opposed to 5 payments per month), the higher the CL.

My guess would be around $10K.  All things being equal, Amex rewards high spend and income, which fits with their spend-centric model.

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Hah, if I get a 10K tradeline I'd be through the roof and over the moon.  The application being approved period is a short cut, but that sort of tradeline would be a rather substantial acceleration of my credit building.  I'm not nearly so optimistic even with lump sum payments (only way to fly) given the relative lackluster tradelines I have currently.  

Dustin: Cash+ is way down the line, I think the only reason I got approved for the BCP is as cdnewman correctly points out: my internal score and being a current Amex cardholder apparently in good standing (however Amex defines that) is what got me the approval for this one.  I'm not even so certain I could get the Flexperk card now, nor do I need nor want it currently.  My credit report isn't pretty by anyone's standards.

Newportguy: Apparently still have to talk to a live person on that, I'll probably sit on my hands and wait the week or so it takes for me to get the card.  At this point the less I have to talk to an actual human with an opinion, the better .  Automated processes FTW in this case as I know I'm a marginal application.