Thread: Blue Cash approval insight

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

Well I applied with AMEX yesterday and was approved for the Gold Rewards Business card. While speaking with a representative, she stated that if you do not have a fico over 690 and at least two lines of excellent revolving credit (min. 2 yrs), then do not apply for the Blue Cash because it is a very, very difficult card to get. Also, she stated that its easier to go for the Zync or the Green AMEX (these are not credit cards, but charge accounts) and then move your way into the Blue Cash after 13 months.

I have applied for it twice in recent years, to no avail, and looking back now I'm not surprised because my credit was worse than I thought it was. All the baddies have dropped off my Experian and I'm sitting at a 750 score right now so I was gonna pull the trigger in the next month or two but after seeing this I'll have to wait a year; My only two open cards were opened Oct 09 and May 10. It'll be worth the wait though, plus when I get it AMEX will backdate it to when I opened up my Blue for Students back in 02.

I was approved a week or so ago for an AMEX Blue with EX698, 8 hard inquiries, 2.5 avg CL age, and $21k.

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?

Originally Posted by LTomBerry

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?

Hmm.. I'm not to sure about the switching part but I've heard that you can apply for multiple cards at once within a 1-2 day period and only counting as 1 inquiry. And btw their charge cards really dont have that good of rewards, just a charge card for the most part, as one would say it's sort of an executive look. If your going to apply make sure your ex is somewhere around 680+ that's when I first got my zync, and my utl was real high like maybe in the 80s-90s, I'm surprised they approved me because of that utl. 2 months later, Now i paid everything off and I pay in full every month. Good luck.

Originally Posted by LTomBerry

Capital, was yours a Blue or Blue Cash?

I didn't know that there was a difference? But I have the card that gives cash back at grocery stores (3%), gas stations and department stores (2%).

Originally Posted by Capital

I didn't know that there was a difference? But I have the card that gives cash back at grocery stores (3%), gas stations and department stores (2%).

Sounds like the Blue Cash Everyday. The Blue will reward points for purchases. Blue Cash awards a "%" cash back.

Originally Posted by sticf

Sounds like the Blue Cash Everyday. The Blue will reward points for purchases. Blue Cash awards a "%" cash back.

Yes, it is the Blue Cash Everyday that I have. Just received it in the mail today. Can't wait to start using it!

Originally Posted by Capital

Yes, it is the Blue Cash Everyday that I have. Just received it in the mail today. Can't wait to start using it!

Congrats btw!

I want to apply for the Blue Cash Preferred as I spend about $350/mo on Gas and another 250-300 on groceries. I just bought a home last month and also own a second home (for about 3 years), which I have on the market. I have PNC everyday rewards CC, which I have had open for ~5 years and have always payed in full. I have never missed a mortgage/utility payment either. My FICO sore is excellent at ~720, but does the recent home purchase put me at a disadvantage?

Also, I'd like to add my wife to the account and get a second card for her. She has never had a credit card, but has had car payments, and is on the title to both homes. Will this help, hurt or not affect the approval?

Thanks!

Originally Posted by matt21484

My FICO sore is excellent at ~720, but does the recent home purchase put me at a disadvantage

Assuming your monthly mortgage payment is a reasonable in proportion to your income, I do not see why it would be a problem.

Also, I'd like to add my wife to the account and get a second card for her. She has never had a credit card, but has had car payments, and is on the title to both homes. Will this help, hurt or not affect the approval?

If you apply under your credit, your wife's credit will not be used in making the decision. However once you have the card, the history for this account will show on her credit record as long as you provide American Express with her SS#.

The sponsored offer for the Preferred version hopefully will stick around a bit longer because it is a good deal. Here is a review comparing the AmEx Blue Cash Everyday and Preferred credit cards.

-CCG