Blue Cash approval insight

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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GnarleyMarley
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Postby GnarleyMarley » Wed Dec 07, 2011 4:29 am

meatfox wrote:Just wanted to give an update to all after getting my Blue Cash Preferred card in Sept. - called the number on the back of the card last month, and upped my credit limit from $2000 to $5000 through an automated prompt - instant approval. I paid the card off in full every month, never carried a balance. Just thought some people (like myself) who were wondering about credit increases would like to know.


Congrats! That's great info.

I just got approved for Blue Cash on Monday, but my limit is only $1000. I plan on paying off my balance every month and perhaps giving them a call around March to get my limit upped a bit.


cowman89
 
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Postby cowman89 » Sat Dec 31, 2011 12:40 am

Hey I was wondering what my chances are of getting the Blue Cash Everyday card.

I'm a college recent grad with one line of credit. A Visa Bank Americard with a $1500 credit limit that's a little over 1.5 years old. According to CreditKarma my credit score is 750.

I'll be starting a job in March with a 62k salary. I know my credit history isn't long and only has one line of credit but I was hoping my salary would improve my odds.

Any thoughts?

Floydian
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Will I get approved for a BC Everyday card?

Postby Floydian » Thu Mar 22, 2012 4:27 am

Hey guys,

I'm 24 and I've been using credit cards for the majority of my purchases since I was about 17 years old. I always pay my cards off in full at the end of the month or even before it is due. I've always wanted an Amex card because of the "prestige" that goes along with it but have been very happy with my Chase Freedom card. I'm taking a trip in June (hopefully) and I want to use some of the perks Amex provides (car rental insurance, purchase protection, etc). I am aware my Chase Freedom World MasterCard has some of these perks but I really want an Amex. My question is will I get approved?

I ran a free Experian report and got the following:

Chase Freedom Card (opened '09): $100 debt/$7,000 CL
Banco Popular Card (opened '08): $0 debt/$3,600 CL
Bank of America Card (opened '07): $60 debt/$500 CL
American Express Card (opened '96): $7 debt/$11,000 CL (I'm an authorized user)
CitiBank Card (opened '88): $16 debt/$21,500 CL (I'm an authorized user)

Installment credit:

2 Loans from the Department of Education: $5,700 balance / $7,000 Installment

No issues so far and no hard inquires in the past two years. The loan is really messing with my credit utilization (it's showing 83% while my credit card utilization is %0 which turns into a 12% total utilization for all accounts). I recently paid $2000 off on my loan which seems to not have been reported yet.

My plan is to pay off another $1000 to $2000 on my student loan, wait a month or two for it to show up on my credit report, then apply for a Amex around May. Will I get approved?

Sorry for the long post.

Crashem
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Postby Crashem » Thu Mar 22, 2012 5:27 pm

No one can tell you whether you will get approved since AMEX has its own scoring model. But my guess is that you are fine to get charge card and I would consider getting one of their no annual fee credit cards as well (Blue Cash). I would apply for both at same time so you get one inquiry out of it. Go for a charge card first then the credit card (you might get a we need to wait before we decide on 2nd card).

In any case, AMEX is going to help your credit big time. If credit report is showing AU AMEX card opened as of 1996, that means your new cards should also show as 1996 even though you would have gotten them this year. That will help your AAoA tremendously. Thats why I suggest getting a couple of them even if you aren't going to use them but make sure the non use ones have no annual fee.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Crashem
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Postby Crashem » Fri Mar 23, 2012 11:04 am

RESPONSE TO COWMAN89

Score is pretty good but I recommend getting real FICO from myfico on one bureau to see how far off FAKO and FICO scores are. I think you are a little light on revolving lines to get AMEX Blue. I would check to see if you can still apply for Student one where they understand that. Otherwise, go get another credit card with no annual fee and wait 6 months of reporting to apply. Finally, I find the charge cards from AMEX to be a little easier to get. After 6 months with charge card, you should be in better shape with them. Try to get charge card with no annual fee unless you really like the idea of gold/plat etc.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Floydian
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Postby Floydian » Fri Mar 23, 2012 9:44 pm

Crashem wrote:In any case, AMEX is going to help your credit big time. If credit report is showing AU AMEX card opened as of 1996, that means your new cards should also show as 1996 even though you would have gotten them this year. That will help your AAoA tremendously. Thats why I suggest getting a couple of them even if you aren't going to use them but make sure the non use ones have no annual fee.


Really? This is the first time I'm hearing about this. That would really be awesome. It seems as if the Blue Cash is a difficult card to get. Is there any other No Annual Fee Amex CREDIT cards that I should apply for? Is getting a charge card really worth it? I have 3 cards now and I only really use one of them. Getting two more would be pretty difficult for me considering I only really buy food and gas and basic necessities.

Money card
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Postby Money card » Sun Mar 25, 2012 12:09 am

If you want to apply for a low level card there's a clear card. it's not a very popular card but it looks like a very nice card and different from both blue cash cards. no annual fee.

there's also Blue from American express. this was 1 of their original lending credit cards, it featured a credit limit and interest rate. it's a membership rewards card, the same as the Green it's just 1 level down from the green. both cards blow the aqua Costco junky card away.

so there are 2 cards to look at the clear card and Blue. neither of them have any annual fees.

Crashem
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Postby Crashem » Mon Mar 26, 2012 2:44 pm

Floydian wrote:Really? This is the first time I'm hearing about this. That would really be awesome. It seems as if the Blue Cash is a difficult card to get. Is there any other No Annual Fee Amex CREDIT cards that I should apply for? Is getting a charge card really worth it? I have 3 cards now and I only really use one of them. Getting two more would be pretty difficult for me considering I only really buy food and gas and basic necessities.


Yes Floydian. You might have to fight with AMEX a little as your current relationship with them is only as authorized user. But AMEX reports new cards with your original member date year and the new cards approal month date. You can confirm your member date by logging into your AMEX account and seeing what it says (if you don't have an online account, I recommend you do so). For example, if your member date year is 2000 and you apply for a new AMEX card in January, it will report to bureaus that you had the card since January 2000. Thats why January is the best time to apply for AMEX card :) .

Based on what you said, it looks like you only have relationship with AMEX via being authorized user. I highly recommend you start a direct relationship with them. Every AMEX card for you should improve your AAoA which is great for your credit score. If you do no annual fee cards, then who cares if you really need them or not (although put an occasional charge on them).

As for your approval possibility, go get a real FICO score (just need one) from myfico and I can probably give you better advice. One thing to note that the cards with better benefits usually charge a fee. Let me know the FICO score (not FAKO) and might be able to give you better advice on which cards to proceed with.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Floydian
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Postby Floydian » Fri Mar 30, 2012 3:12 am

Crashem wrote:As for your approval possibility, go get a real FICO score (just need one) from myfico and I can probably give you better advice. One thing to note that the cards with better benefits usually charge a fee. Let me know the FICO score (not FAKO) and might be able to give you better advice on which cards to proceed with.


Ran my score tonight through MyFico. My Equifax score came back 786. My score is probably lower than what it will be when I apply for the card within the next month or two. It is showing my student loan balance as high (I recently paid a good chunk of it off but the new balance hasn't been reflected yet). Based on this score, any recommendations for No Annual Fee Amex cards? Thanks in advance.

American
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Postby American » Fri Mar 30, 2012 12:48 pm

I just got a blue cash preferred card two days ago; something I really wanted a long time. I applied every month, stupidly. I already had a Gold PR with AMEX, so I thought I'd get instant approval... sadly I was wrong.

In January, my credit utilization was around 60% then in February it was 50%, and in March it was 25%. My Scores were 650 at the lowest to 705 right now. I applied two weeks ago and was declined. When Iooked at the report, and I saw they pulled Experian from February 12th even thought that was a month and a half ago. I talked to the lady on the phone, and she was like whelp you can fax us a copy if you want to challenge it. She was fairly rude. I kept reiterating that I didn't own a fax, and it was AMEX's fault for not pulling a recent report. She finally got it approve to go back through the review department. 5-7 business days later I was approved with a 2,000 CL.

I'm pumped about getting the card, and I'm more than surprised that I got it. I'm 23 with a 705 Fico. My FAKOs are fairly inflated at 730, 715. I'm also pumped that this card will be backdated hopefully to '92 like my gold card because AMEX thinks that my dad and I (same first and last name and same middle initial) both started our accounts with them in '92. He was 42, and I was 4. Gotta love when glitches in systems work in your favor.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k



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