Blue Cash approval insight

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LTomBerry
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Postby LTomBerry » Tue Aug 23, 2011 10:33 am

Update: I decided to go for it yesterday because I couldn't stand it anymore. I applied for the Blue Cash preferred and got the dreaded 14 day message, but checked the app status site 15 minutes later and was approved. It's getting backdated to 2002 when I opened my Blue for Students back in college. Woohoo!
I called AmEx to find out my limit. When she told me I think I had her tell me again to be sure. My response after that I believe was "#%&$!!" They gave me a limit of $19,300! Whoever it was that said high limits beget high limits was not kidding.
When my 60 days are up and it's time for the first CLI, I'm gonna go out on a limb and assume that the standard advice of asking for 3x your current limit doesn't apply in this case, does it?


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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Aug 25, 2011 2:40 am

Congrats on the approval!

LTomBerry wrote:When my 60 days are up and it's time for the first CLI, I'm gonna go out on a limb and assume that the standard advice of asking for 3x your current limit doesn't apply in this case, does it?


You're right, don't think AmEx will spring for 60k credit limit these days unless you're spending and repaying 10k to 15k per month.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

matt21484
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Postby matt21484 » Mon Aug 29, 2011 10:06 pm

I finally got my card(s) in the mail today! I did get a card for my wife as well. Too bad my CL wasn't as high as I would have liked though, only $1900. I was somewhat surprised, but I believe its due to the fact that I just purchased a house and now have 2 mortgages until we sell our other house. Our APR is 21.24%, but I've never carried a balance so that doesn't bother me much. From reading this forum, it sounds like after 60 days I can request a credit limit increase and it should be granted as long as I pay off my balance in full, correct? Oh, for what it's worth, my PNC Bank Visa card has a $12,000 limit.
Cards:
PNC Everyday Rewards Visa ($12.5K - 2006)
Macy's store charge ($700 - 2009)
Amex Blue Cash Preferred ($10K - 2011)
Chase Sapphire Preferred Visa ($5K - Jan 2013)

meatfox
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Approved!

Postby meatfox » Tue Aug 30, 2011 10:52 pm

I don't know if I'm lucky or what, but I just got approved for Blue Cash Preferred - I've been an Amex green cardholder for under a year, recent college grad, not so hot credit score (680), two other CC's - 1 Visa Student Card (1500 limit), 1 Mastercard (2500 limit). 1 mortgage and 1 auto loan outstanding with good payment history.

Just got approved for Blue Cash Preferred via the website, so not sure what my limit is -what are you guys referring to about raising the limit after 60 days? Is this something I can/should do?

Finally, should I close my green card? Leave it open and never use it? Any advice would be appreciated.

prosper81
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Postby prosper81 » Wed Aug 31, 2011 11:50 am

I have a similar credit profile as you meatfox and I received a 2000 limit with my new Blue Cash. As for your American express green card, my initial thought is to NOT close your green card. Why? You will be reducing your dept to credit ratio. In an ideal world you could transfer your green card limit on to your Blue Cash but I doubt Amex will do that.

cambridgechica
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Postby cambridgechica » Thu Sep 01, 2011 6:13 pm

@prosper81 - do you also have a green card like meatfox?

i am curious because i'd like to apply for a green or gold card at some point to get my foot in the door with AmEx and ultimately apply for a blue cash. i'm trying to gauge if having a charge card increases your likelihood of getting approved for a credit card.

meatfox
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Postby meatfox » Fri Sep 02, 2011 11:08 am

@cambridgechica i would think it would have to have an effect on their decision because they'll be able to see your payment history with respect to the cards you already have with amex.

any insight on raising the limit after 60 days? what do i need to do to make this happen? just pay my bill on time? like i said before, i don't plan on carrying a balance. typically do about $1,000/mo on my primary card and it's paid off in full every month.

meatfox
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Postby meatfox » Fri Sep 09, 2011 6:03 pm

Just got the card in the mail. I got a $2000 limit, for those interested. Any more advice on upping my limit after 60 days?

Money card
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Postby Money card » Sun Sep 11, 2011 1:01 pm

LTomBerry wrote:From a user on CreditBoards: AMEX giving out accurate EX FICO with denial letters - CreditBoards


so LT if somebody has a citibank mastercard, Discover card and a capitol 1 visa or mastercard, let's say their bills are between 150 and 350 and they pay 120 up to 320. now they want to apply for an American Exprees card. Which card do you think is easier to get, the Blue Cash or the Zync/Green?

Money card
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Postby Money card » Sun Sep 11, 2011 1:19 pm

LTomBerry wrote:Capital, was yours a Blue or Blue Cash? Also you say your average card age is 2.5, mine is only about 1.5 right now, after I went through my Dave Ramsey period. Anyway I'm trying to decide if it's worth the hassle of getting another AmEx then switching it after a year. Has anyone applied for an AmEx and been denied for that particular one but was able to qualify for another one? I'm not too keen on the Zync, I would probably try for the green or gold. Also I am mostly after the cash back, I don't want to get stuck with a year's worth of membership rewards points that I can't really redeem for anything worthwhile. Then there's the issue of the annual fee. Notice how it says they can switch you after 13 months? Seems to me like they are trying to get at least one year's annual fee out of you. (first year's free) I wonder if they would credit a prorated portion back if you switch to a card with a lower annual fee. Has anyone out there done that before?


Had I been using my brain last year I would have done this and applied for the Gold Rewards. Assuming I got the card my year would be up, I would have switched it to the Green, but I didn't use my brain and I started out with a green.

Why is it you have to wait a year for a higher level card but not a lower level? Example Green to Gold or Gold Premier Rewards? But not Gold to Zync or Green?



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