Are my scores good enough for the BC preferred

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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jeffysdad
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Postby jeffysdad » Mon Aug 13, 2012 6:29 am

Hi Hematino and Crashem. I beg to differ on APR for Sapphire. Mine is 10.24% for purchases right now and 19.24% for cash advances, according to my account info. on Chase website.

My Freedom is at 9.24%, and Amazon is at 13.24%. For these the cash apr is also 19.24%. My newest Chase card, PriorityClub, has a purchase apr of 15.24% now.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.


Crashem
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Postby Crashem » Mon Aug 13, 2012 10:23 am

jeffysdad wrote:Hi Hematino and Crashem. I beg to differ on APR for Sapphire. Mine is 10.24% for purchases right now and 19.24% for cash advances, according to my account info. on Chase website.

My Freedom is at 9.24%, and Amazon is at 13.24%. For these the cash apr is also 19.24%. My newest Chase card, PriorityClub, has a purchase apr of 15.24% now.


I am quoting stated interest rates from chase's website. This is an assumption, but I would guess that you have called and asked for interest rate reduction. If it is not the case, I would be curious when you got those interest rates. In any case, your interest rates still support my theory and contradict money card. Your freedom is still lower than sapphire even though sapphire is harder to get.
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

FutureBillionaire
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Postby FutureBillionaire » Mon Aug 13, 2012 12:56 pm

I think the BCP is pretty accessible. I would be worried about the baddies being on there though. They just approved me with a generous limit. If you already have a card, I would apply and recon.

There is a tool on creditcards.com that lets you do a soft pull on your report to see what cards you would be approved for. Try that out.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

Regnohspf
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Location: Orlando

Postby Regnohspf » Mon Aug 13, 2012 1:21 pm

Crashem wrote:Money Card,

We keep having this argument. But you confuse the situation. Your examples are selective and you are using incorrect facts.

For example, Freedom card can have initial APR as low as 12.99% while the Chase Sapphire Preferred is always 15.24%. Basically kills your argument. Freedom can have 20ish% for bad credit but down to 12.99% with good credit Yes Sapphire targets people with excellent credit. According to your reasoning, cards with lower interest are harder to get so Freedom must be harder which is not true.

The fact is most times APRs are set around the the kind of benefits the card provides. The more benefits, the higher the APR. Go do your research and compare. You will see my reasoning is more consistent.

The 2nd faulty logic you have is that since Amex Plat has no interest, it must be harder to get. You are missing the fact that you have to pay in full. In fact by your reasoning every Amex charge card must be hard to get since you pay no interest on any of them. But it is common knowledge that the Zync is by far the easiest card from Amex to get. Stop listening to Amex marketing hype. Yes they are targetting richer people with the Platinum, but the real reason is that who is willing to pay the high annual fee.

The reality is that AMEX issues its cards on credit standards on their risk as any responsible lender should. Since the risk for AMEX charge cards (all of them including platinum) is less risk than AMEX credit cards to AMEX, AMEX charge cards are easier to get than AMEX credit cards.

Go do your research on the web. Basically NO ONE AGREES with you. EVERYONE pretty much thinks the Blue Cash Everyday/Preferred is harder to get than Amex charge cards. In fact, people recommend getting an AMEX charge card to get in the door with Amex since it is easier to get. Build history with Amex then app for the Blue Cash card as Amex values your history with them highly.


i completely agree with Crashem here. Im not hear to start an argument or be a stickler and i might be new to credit, but from the posts ive seen from money card, they are very irrelevant and his information i find to be wrong sometimes. Charge cards are definitely easier to then Amex's revolving credit lines. I got approved for a zync with a 590 fico. if zync was suppose to be hard due to no interest rates, then i would've NEVER been accepted
Wells Fargo Student Credit Card Visa - $1300 (February 2011)
American Express Zync Charge Card (February 2012)
Chase Freedom Visa- $2000 5% rotating (April 2012)
Citi Forward Visa- $3000 - 5x at restaurants, amazon.com (April 2012)
Chase Sapphire Preferred Mastercard World Elite - $5000 (July 2012)

Credit cards left to attain
-Amex BCE/BCP

jeffysdad
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Postby jeffysdad » Mon Aug 13, 2012 1:50 pm

Crashem, my rates are the ones I've had since the accounts were opened, or at least they haven't changed to my knowledge since the accounts were opened.. I haven't requested a rate reduction as I haven't carried a balance on any of these cards so the interest rates are irrelevant to me. I dk about one card being harder to get than another. I know Sapphire is hyped as a premium card for affluent consumers, but I really think at the end of the day anyone with decent credit/credit history can get one. I suspect my apr on Freedom might be lower than Sapphire because I've had that card longer,
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

Crashem
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Postby Crashem » Mon Aug 13, 2012 2:01 pm

Personally, I find Money Card helpful and a benefit to this board. However, he does seem to have certain misconceptions as I assume we all do. In the case of AMEX Plat., he has completely bought into their marketing hype and keeps trying to find fact/evidence to support his position even he keeps trying to make up theories to support his position. Keeps talking about his personal experience seeing who uses what card. Kind of silly as he talks about president's of companies having platinum card etc. There are millions of platinum card holders.

The evidence however shows credit profile wise, the AMEX platinum is much easier to get. That's the facts. He just needs to look at some other respected credit boards.
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

hematino
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Postby hematino » Mon Aug 13, 2012 11:34 pm

Jeffysdad,
Was wondering, when did you open your Sapphire? Like Crashem, I was going with the rates Chase had posted on their site along with the identical rate they gave me, but it is variable based on the prime rate. I only know a couple people personally who have Sapphire Preferred cards and they are also at 15.24% and opened the accounts this year. Have only had the card for a little over 3 months, maybe at some earlier time they offered tiered interest rates for creditworthiness, and then changed it to one size fits all for new applicants? I'm not sure but it looks like all new accounts are initially set at 15.24% as per the Chase website.
Now she's eyeless.
The snakes she held once
Eat up her hands.

jeffysdad
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Postby jeffysdad » Tue Aug 14, 2012 5:45 am

Hi Hematino. I opened the Sapphire as soon as it was offered. I got a promotional mailing and responded to that. This was a month or so before you really started to see the card advertised. There was no sign-up bonus at the time, so I would have been better off if I had waited.

The website says my Sapphire rate as of 04/04/2010 is 10.24% for purchases. This sounds to me to be about the time that I opened the account.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

Crashem
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Postby Crashem » Tue Aug 14, 2012 10:32 am

jeffysdad wrote:Hi Hematino. I opened the Sapphire as soon as it was offered. I got a promotional mailing and responded to that. This was a month or so before you really started to see the card advertised. There was no sign-up bonus at the time, so I would have been better off if I had waited.

The website says my Sapphire rate as of 04/04/2010 is 10.24% for purchases. This sounds to me to be about the time that I opened the account.


So interesting. Typically you can request for reduced APR from initial APR as you build good history and have good credit. They typically do not move down on their own Given Jeffysdad's info. It looks like the initial APR on these cards have been increased over time.
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

hematino
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Postby hematino » Wed Aug 15, 2012 11:49 am

Cool man, sounds like you have one beast of a Sapphire card! If you ever had to pay interest on the card for some reason that's pretty good being about 1/3 less interest rate than the more current accounts. Pretty nice little benefit there!
Now she's eyeless.
The snakes she held once
Eat up her hands.



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