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nsomnia911

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Trying to get amex cash blue preferred
Trying to get cash blue preferred from amex.... I applied last month and got DE ied...reason was fico score from eq was 651.... this month...I paid off two $50 medical collections...my utilization is 29% ...my score is fico 8. 679 ....longest credit line is 8 years....Avg 4 years. My income is 57k I want to apply again cause there's a baby coming in july and I know we will really max out the 6% back at groceries... what are my chances of getting approved? If denied, should I appeal... I havery capital 1quicksilver 3400/7500, cap1 0/500discover it. 0/1400. Sapphire 1100/5000 and 700/1000 best buy.... 2000 on personal loan from bank.... and 0/1000 furniture store which is syncrony bank....12k in student loans... no late payments...

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Just something to bear in mind with the annual fee (which you can skip over the first year):  If going off groceries alone, your break-even point (the point where the blue preferred is better than the regular blue cash card) is about $2500 dollars per year in groceries.  With a baby, I'm sure you may breach that (no pun intended), but depending on your lifestyle it may or may not be the best fit for you.  I have that card, but we spend upwards of $500/month on groceries, $250/gasoline and another $150 in department stores for clothing, so for us it really pays for itself ($50-90/month).

As mindjazz notes, you are best off focusing on reducing the debt you currently have (credit card especially) and building up a little savings for the imminent arrival of your bundle of joy.  As your credit score rises, you'll be able to do something different.  You have a lot of formula, diapers and other fun things coming, so there will be plenty of time to utilize the blue preferred.  

An alternative in the meantime, might be the Wells Fargo Rewards Visa (https://www.wellsfargo.com/credit-cards/rewards/).   Not the most amazing card on the planet, but as far as saving money for your specific needs, the first six months, you get 5x points on gas, groceries and drug store purchases.  You can redeem them in $25.00 increments.

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Experian. Not equifax....sorry

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I believe Amex requires a score of about 720 to qualify for the Blue Cash Preferred.  You're wasting money paying interest and your utilization at 29% is much too high. Concentrate on reducing your debt, paying all payments on time and your credit score will rise.

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