Things To Consider Before Applying
This is an update from my prior review back in March 2017. I hope this review would help those that are considering applying for the Amex BCE. Now while this is one of the hardest cards to get an approval, note that, once you get approved for it, it is packed with great rewards and bonuses that will save you more money in the long term. When I orignally gotten an approval for the card, my CK credit scores were at 662, but my FICO score at the tme of application was at 742. So for those thinking about applying, please remember to check the following first so you do not waste a hard inquiry.
- Length of credit history 6 mos and longer ( if any of you have a high credit score from CK but if the length of your credit history is less than 6 mos old. you would need to wait and age your account until your reach 6 mos. and more)
- AMEX likes thin files with no missed payments (during the time of application)
- No Baddies or deregatories on your file
- Is your FICO score specifically with Experian at least within 690's and over, since AMEX tends to pull the reports from them "MAJORITY" of the time. I say 690 is the absolute guarantee of an approval with the best sign up bonuses and interests. Anything less than that, then you are looking at a lower SL and no sign up bonuses.
I hope this breakdown would help some of you, I am sharing this because I have went through it, applied, got denied, without realizing that I needed to age my accounts for 6 mos. and longer to have an actual FICO score, but I did not wait and I wasted an inquiry. I suggest using your approval odds as your motivation, but check for those factors before you apply to ensure success in getting an approval. My current FICO score from Experian is 721 and I am gardening to get that back up again to where I used to be or higher. But overall, my experience with American Express has been amazing. Their sign up bonuse of getting $100 back if you spend $1000 in the first quarter of your membership saved me a $100 on a new TV that I bought. I also get %10 cashback when I use it for dining at restaurants, and more cashback bonuses when being used wisely. I am very happy and content with the AMEX BCE and back in April they reconsidered by original application for the AMEX Green card and approved me for it as well. So if you applied and did not get an instant approval. Call the reconsideration line and you might get suprised. I hope this thread helps.
Easy service. Great App. Free Fico Score
Easy to manage. Generally has a 0% APR offer and the bonuses are good. I was offered an upgrade to the Preferred card, earning 6% at Grocery stores, which is where I generally use this.
Decent, but not what I needed.
Great opening of 0% interest for 12 Months. I applied for this card for the use of debt consolidation. My credit score averages 723 with no late payments and I was only approved for $1K limit. I needed $4K to get rid of my high interest credit card payment and obviously this came quite shy of my needs.
Did you request a CLI? I was initially approved for 6K and after my 2nd statement I requested a 12K increase, now my limit is 18K in only 2 months
I applied for it and received a 1k limit. I cancelled it because it was nothing. My scores were very good averageing in 730s but still.
Closing an account might make you feel good but it does absolutely nothing positive for your credit. Your scores might be in the 730s but AMEX started you at that limit for a reason. Anyway, you could have just not used it or ask for an increase X3 in 61 days.. before you know it you have 10K+ CL
A good first learning experience.
It's accepted at most places, and it's nice to have 0% interest for a year. It's a credit card, and you need to be careful.
Okay need a higher credit increase
X3 CLI after first 60 days of opening the account isn't enough? Not many other companies are so generous. I got a 5 digit CLI last week.
Accepted in most places But!
The rewards on this card are very deciving; which is why I chose this card. You must purchase in a "qualifiying" store in order to recieve benifits fro that purchase. Almost all our purchases don't qualify. AMEX now wants me to sign up for $550.00 annual fee claiming I'll get advanced benifits. Also, AMEX will not raise your credit limit without a "hard" credit check. Of the cards we have, this is by far the worst. I would Highly Recomend concidering other cards before getting this one.
Im not sure about the rewards claim but atleast to me, AMEX did a soft pull for a 5 digit increase last week.
Excellent.
Great for building credit.
You will most likely be denied if you apply for this card with "building credit" scores, or only be approved for $500-$1000 CL, which is AMEX way of say you barely qualified.
This card is great for gas & grocery purchases. It also allowed me to build a relationship with American Express, and I was soon eligible for other cards.
Instant Approval
So far so good.....I got approved instantly for a relatively low $2,800 CL initially - which I'm OK with for now, since I'm mid-way through my credit repair journey. I fully plan to use the 3X CLI after 61 days though to give me a boost. Credit Karma had me at "Fair" approval odds....I went directly to the AMEX website and was 'preapproved' by them directly for this card, which made me feel a little better (probably a silly thought process) but at least I knew I had AMEX direct 'preapproval' vs a 3rd party like CK.
Started off with 580ish scores about 6+ monthsa go, up to 690ish now with some due diligence and focus. Like many folks, I made some dumb mistakes when younger that are still biting me in the a** today (they're almost aged off all 3 credit reports, can't wait for that day). 1 Chase Charge Off. a few 30 days past-due. all derogatory marks are a few years old now.
Scores are 670 (EX) which AMEX used. 680 EQ. 701 TU. Income is around $250,000.
As a side note: I also applied for the AMEX Gold Premier Rewards card on the same day to avoid the 2 hard pulls and was approved instantly for that one as well.
very informative!
250k a year and can't get your sh*t together, sure buddy...I think you added a zero...poser
READ THIS BEFORE APPLYING
Applied through CK and received an initial limit of 4k, since upped to 12k. Having said that, I've not received the sign-up bonus of $150 following many months of owning the card despite meeting all qualifications, (having not owned any card before, spending the correct amount, etc.). I've spoken with customer service about it several times and everytime I am given a different story. First I was told that they would transfer the bonus into my account within the week. That's since changed to an opened investigation whose time to complete lengthens nearly every time I inquire about it.
I am not a lawyer but as a piece of advice I'd recommend anyone who intends to apply with Amex getting a screenshot of the offer. Further, following the application approval, (in compliance with the laws of your state), ask customer service in a call you record to confirm the offer is attached to your card. If you've already applied and are given the runaround as I've been, consider submitting a complaint with the CFPB and/or attorney general for fraud. Finally, if you prefer to avoid being forced to use potentially-bias arbitrators to settle disputes, look into how to opt-out of Amex's arbitration clause (hint: it's time-sensitive).
When I applied the offer was $100 bonus after spending 1K in the 1st 3 months, and the bonus would be applied as credit to my balance in 6-8 weeks once I spent that amount. Well it turns out I spent 1K in the 1st week of having the card and paid it off before the payment was due. Before I got my 1st statement I had already received not the $100 bonus in balance credit, I got $150 instead! I must be doing something right?