I'm Finally In (BCE Approval)

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18 posts
Skycap
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Location: California

Postby Skycap » Wed Sep 10, 2014 12:06 pm

Ikarus wrote:Skycap,

The terms you state are correct. I have the same 15 month 0% APR + 0% Balance Transfer deal + $100 cash back for spending $1500 in the first 90 days. It was an awesome deal that covers two holiday seasons with no interest.

My APR will jump to 16.99% in Feb.

I'll probably try my luck again for a CLI as the holidays approach. I'll be carry $0 balances on all cards at that point. (The balances I do carry now, minus AMEX, are PIF with no interest. Want to keep that up, for sure.)


Yes, same terms other than the APR I got on my terms. Finally got the card in the other day, only took 3 days. I was rejected on my first use... because the place didn't Amex. Hah! Anyways, will Amex really mind if I carry a balance on this card? I would like to use that 15 month promotional deal.

Thanks again for all the help everyone.
[size=60]American Express Blue Cash Everyday $6,000 | Bank of America Power Rewards $500
Best Buy $2,200 | Chase Freedom $2,500 | Citi Diamond Preferred $2,700
First Financial Bank $8,800 | Home Depot $500 | JCPenney $1,200 | Kohls $500
Target $1,300 | Union Bank (FNB) $1,300

FICOs
TU:761, EQ:754, EX:732 (11/2014)
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marlonbishop
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Location: Florida

Postby marlonbishop » Wed Sep 10, 2014 3:12 pm

Skycap wrote:Ouch, 3 inquiries for sure then. Well, I suppose I'll be tending to a garden for some time now, 3 of my inquiries will drop off in the next 5 months or so.


i went for the green since i want charge cards.. to have something different and yeah im in the garden as well.
BoA Cash Rewards $4000
Macy's $1000
Discover it $5000
Chase Sapphire Preferred $5000
Chase Freedom $2000
Amex Green NPSL
Amex Gold Premier Rewards NPSL

Find me on MyFico: Sapingo (if you see me say hello)!

Ikarus
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Location: USA

Postby Ikarus » Thu Sep 11, 2014 11:55 am

Funny thing with AMEX. Even though BCE is a credit card instead of a charge card, they still prefer you not hold a balance for too long.

If you're going to try the 3x CLI after 61 days, make sure you're not holding a balance (or at least a high, lingering balance) at that point.

I bought a $1500 laptop and didn't pay it off in full and they denied my CLI immediately after 61 days, indicating I wasn't paying off my balances as quickly as they'd like to see.

So if I can give you any tip, it's that. :)



Skycap wrote:Yes, same terms other than the APR I got on my terms. Finally got the card in the other day, only took 3 days. I was rejected on my first use... because the place didn't Amex. Hah! Anyways, will Amex really mind if I carry a balance on this card? I would like to use that 15 month promotional deal.

Thanks again for all the help everyone.
Merrick Bank (Hooters) 4100
Cap One Quicksilver 2800
Discover it 2500
Citi Forward 5400
Chase Freedom 1000
AMEX Blue Cash Everyday 5500
Citi Dividend 5600
Cap One Visa Platinum 750 (CLOSED)

Skycap
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Location: California

Postby Skycap » Sat Sep 13, 2014 2:44 pm

Ikarus wrote:Funny thing with AMEX. Even though BCE is a credit card instead of a charge card, they still prefer you not hold a balance for too long.

If you're going to try the 3x CLI after 61 days, make sure you're not holding a balance (or at least a high, lingering balance) at that point.

I bought a $1500 laptop and didn't pay it off in full and they denied my CLI immediately after 61 days, indicating I wasn't paying off my balances as quickly as they'd like to see.

So if I can give you any tip, it's that. :)



So they actually told you that they denied your CLI because you kept holding a balance?
[size=60]American Express Blue Cash Everyday $6,000 | Bank of America Power Rewards $500

Best Buy $2,200 | Chase Freedom $2,500 | Citi Diamond Preferred $2,700

First Financial Bank $8,800 | Home Depot $500 | JCPenney $1,200 | Kohls $500

Target $1,300 | Union Bank (FNB) $1,300



FICOs

TU:761, EQ:754, EX:732 (11/2014)

[/size]

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Sep 13, 2014 2:56 pm

You can get some idea of the issuers' preferences by looking over their financial statements. Amex makes its money by getting the discount revenue on a huge volume of transactions. With the high limits on their cards, Amex can lose an amazing amount of money when someone stops paying, so it makes sense that they want to keep balances low, even if the limits are nominally high. Annual fees and interest income are a fairly small source of income for Amex, overall.

Discover, on the other hand, makes a lot of money from interest relative to their swipe volume and seems to be okay with people carrying balances, paying them down with interest over time.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
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popamode72
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Location: Atlanta, GA

Postby popamode72 » Sat Sep 13, 2014 3:33 pm

Ikarus wrote:Funny thing with AMEX. Even though BCE is a credit card instead of a charge card, they still prefer you not hold a balance for too long.

If you're going to try the 3x CLI after 61 days, make sure you're not holding a balance (or at least a high, lingering balance) at that point.

I bought a $1500 laptop and didn't pay it off in full and they denied my CLI immediately after 61 days, indicating I wasn't paying off my balances as quickly as they'd like to see.

So if I can give you any tip, it's that. :)


I had a balance at the time of getting my CLI but it was relatively small compared to the entire CL and now that's been paid off completely. A lot of it came from buying a MacBook too and I paid that down to like 100 dollars or so and continued to use the card after that. From what I can remember, the balance I had at the time of requesting a CLI was about 200 something dollars compared to the 2,100 CL I had.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

Skycap
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Location: California

Postby Skycap » Sun Nov 02, 2014 10:58 am

Ah, 61 days ago I was approved for the Amex BCE.


Today I was approved for a 3x credit limit increase, totaling my Amex credit line at $6,000. Thanks for all the help and advice guys!
[size=60]American Express Blue Cash Everyday $6,000 | Bank of America Power Rewards $500

Best Buy $2,200 | Chase Freedom $2,500 | Citi Diamond Preferred $2,700

First Financial Bank $8,800 | Home Depot $500 | JCPenney $1,200 | Kohls $500

Target $1,300 | Union Bank (FNB) $1,300



FICOs

TU:761, EQ:754, EX:732 (11/2014)

[/size]

popamode72
Centurion Member
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Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Sun Nov 02, 2014 11:27 am

Skycap wrote:Ah, 61 days ago I was approved for the Amex BCE.


Today I was approved for a 3x credit limit increase, totaling my Amex credit line at $6,000. Thanks for all the help and advice guys!


Congrats! Very well done. That's one of the many reasons why I like Amex so much.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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