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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ClubMead
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Are my scores good enough for the BC preferred

Postby ClubMead » Fri Aug 10, 2012 10:10 am

So, I am interested in this card, but fear that my scores are not high enough yet.

If I pay my Platinum card on time every month (just got it in early June), will 6 months of perfect payment make me a lock for this card (scores around/just over 700; income over $150,000; and a couple of baddies that didn't preclude them from giving me the Platinum card or Chase from giving me the Sapphire Preferred)?

Thanks
My Wallet:

AMEX Platinum - NPSL (obtained in 2012; Backdated to 1989)
AMEX Gold Business - NPSL (obtained 2006; Backdated to 1989)
Chase Sapphire Preferred - $30,000.00 (Obtained 2012)
Discover - $3,900.00 (Obtained 1994)
Bank of America - $5,000.00 (Obtained 2011)
Capital One - $7,500.00 (Obtained 2011)


Money card
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Postby Money card » Fri Aug 10, 2012 11:29 am

I don't know if theres a such thing as a lock but rember this the platinum card you have, tons of sales people , presidents of companys and business owners have this card.

where as the blue cash card your average joe has this card people who work in warehouses, lumber yards people who work in Burger king, it's just a regular credit card. while the platinum is considered the highest level of a travel card.
airlines and hotels are more co branded cards that's why I'm not counting them. I wouldn't say theres a such thing as a lock but I would say since you have there platinum you should be able to get there blue cash.

Crashem
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Postby Crashem » Sat Aug 11, 2012 3:32 am

Money card wrote:I don't know if theres a such thing as a lock but rember this the platinum card you have, tons of sales people , presidents of companys and business owners have this card.

where as the blue cash card your average joe has this card people who work in warehouses, lumber yards people who work in Burger king, it's just a regular credit card. while the platinum is considered the highest level of a travel card.
airlines and hotels are more co branded cards that's why I'm not counting them. I wouldn't say theres a such thing as a lock but I would say since you have there platinum you should be able to get there blue cash.


Money Card is completely wrong here as he keeps buying into AMEX marketing hype. The Platinum card is MUCH easier to get than Blue Cash Preferred. Basically AMEX charge cards are easier to get than AMEX revolvers. Amex Zync being really easy to get with people in the low 600's FICO score getting them. The rest of the AMEX charge cards (green/gold/PRG/Platinum) having similar credit standards. So basically, credit score wise, AMEX charge cards require the same credit. Just a matter of whether or not you are willing to pay the AFs.

With no credit history with AMEX directly, Platinum card needs roughly 670-680 FICO to have good chance at approval where BCP/BCE would need roughly 730-740 FICO. Of course, this doesn't take other credit considerations into account. Do a search for credit card approval databases (where other people list their approvals or denials and their scores at the time).

In your case, you will have been an AMEX customer already with payment history and AMEX's internal scoring model seems to highly value their history with you. Remember the other lovely thing about being an AMEX customer: new credit apps with them. When you submit app for new card as current AMEX customer, rejection will only result in a soft pull on your credit report (ie. no effect on credit). However, approval will result in a hard pull. So no harm in apping as current customer (remember more than 30 days between denials or you will get auto denial). Personally, I would wait till Jan 2013 to app for BCP/BCE as it will give you max backdating if approved.
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

Money card
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Postby Money card » Sat Aug 11, 2012 8:54 pm

Take a guess what Crashem I'm not wrong. your scores are wrong , dude you might want to think about what a capitol1 supervisor told me. the lower the intrest rate the more people pay in full, the harder the card is to get.

like the Blue venture card has a 13.80 or something like that, while the gold venture card has a 17.90 intrest , you know which card is harder to get. same as the chase freedom vs the chase sapphire perfered , the freedom is a regular credit card like the Blue cash
card people who work in restaurants, who work in lumber yards and warehouses can get a Blue cash card.

while the Chase Sapphire and American Express platinum card target people with higher incomes, the president of cold stone, shortline coach , the President of Ruby Tuesdays and Ikea have cards like the chase sapphire and American Expresses platinum cards.

looking at chase Freedom intrest is about 20 I think I saw somebody wrote, I heard American expreses blue cash is somewhere
from 19.24 to 21.24 intrest rate.

chase sapphire perfered is a very low intrest because it targets people with excellent credit i'm going to guess around 10. something % in intrest while the platinum card has no intrest this isn't a regular credit card like the Blue cash card.

places I've seen people use the Blue cash card the chugging rhino a local merchant in pomona, Jc penny, justice the young girls clothing store, Barnes and nobles.

places I've seen people use the platinum card, Henri Bendels thats all that I've seen. so Crashem as you can tell, the Blue cash card, chase freedom are just regular credit cards I'm sure you have quite a few people use them, while the Green, gold , the Platinum
and Chase Sapphire, are travel cards that target higher incomes people with higher credit.

Crashem
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Postby Crashem » Sat Aug 11, 2012 11:12 pm

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.
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 » Sun Aug 12, 2012 10:48 am

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 have to agree with Crashem on all of this.
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

Money card
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Postby Money card » Sun Aug 12, 2012 8:20 pm

so crashem what your saying is a supervisor from capitol1 who told me that the Blue venture is harder to get over
the gold is wrong? then why can't I have the Blue venture card at no annual fee?

hematino
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Postby hematino » Sun Aug 12, 2012 10:19 pm

Just putting this out there to the original poster, but I got instantly approved for the Blue Cash Preferred with my Experian score 738 as reported by Amex. Had no previous history with them ever (got my charge card later), no current baddies on my report (a single 60 day late from 2007 from a Citibank error, but it's pretty old). One inquiry on EX at the time. Can't speak for everybody but that was my own personal experience.
Now she's eyeless.
The snakes she held once
Eat up her hands.

hematino
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Postby hematino » Sun Aug 12, 2012 10:23 pm

Crashem wrote: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.


Crashem is right. Sapphire Preferred is ALWAYS 15.24% interest, regardless of the applicant's credit file (provided there is an approval). Freedom varies and can be lower, my Freedom's APR is 14.99%, and i know of people who have lower rates. I also know of people who have rates somewhere to the tune of 25%, it depends on the applicant's credit score/history.
Now she's eyeless.
The snakes she held once
Eat up her hands.

Crashem
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Postby Crashem » Sun Aug 12, 2012 10:56 pm

Money card wrote:so crashem what your saying is a supervisor from capitol1 who told me that the Blue venture is harder to get over
the gold is wrong? then why can't I have the Blue venture card at no annual fee?


I can't speak to whether supervisor is right or wrong on which card is harder to get. However your reasoning is wrong because your facts are wrong. You say blue is harder to get than gold because interest rate on blue is lower and therefore harder to get. This is wrong. Straight from capital one website. Blue interest rate range is 13.9-20.9%. Gold interest range is 11.9-19.9%. So gold is actually lower interest. By your reasoning, gold must be harder to get, but you said cap one supervisor told you opposite. On the other hand, my reasoning of interest rate being a function of level of reward works. Blue gets 2 miles vs 1.25 miles per dollar for gold. Hence the higher interest rate on blue venture.
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



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