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Hi. I am planning on applying for Blue Cash Everyday, but wanted to know what others' experience has been with regard to initially approved credit limits. Additionally, is there a difference with initial CLs depending on whether I apply for BCE or BCP? If I could avoid it, I'd prefer the no-annual-fee BCE, over the BCP. But if BCP offers a much better starting CL, then I might reconsider. My latest credit score (pulled when applying for apartment several months ago) was somewhere around 780. Great, clean credit history. Currently have 2 BofA cards: (1) 17,000 CL with 30% utilization, and (2) 10,000 CL with less than 10% utilization. Also have MileagePlus Explorer Visa Signature with 11,000 CL and 30% utilization. Annual income around 100K. Not really worried about being approved, but about the CL that will be offered. Does AmEx offer starting CLs in the 10K+ range anymore? Or am I likely to get a lower CL to start with, and then have to get a CLI after 61 days? And is there a difference in starting CLs between the BCE and BCP? If so, how much?? Thanks in advance for any help! :-)
First post. Really enjoy reading the forum. I made a lot of mistakes with my credit and it has finally been 7 years since my last mistake. I have 36k in student loans that have established enough credit to pick up some cards. I started with a cap1 secured (200) in April and went for the pre approved platinum offer in May (1000). I also got an amazon store card (400 in May then CLI to 1900 this month). My first big score came with getting in with NFCU because of my brother's service and getting there signature cash rewards visa with 17k limit in June. It definitely felt great. My Exp FICO was 735 in my acceptance letter from Navy. Nothing has changed besides their inquiry and new account. My util is 1%, all on Navy, rest have no balance reporting. My income is 60k. My student loans age back from 2005 as the oldest account, with new consolidated loans turning 2 years old next month. My AAOA is 13 months because of all the new cards, plus a $500 secured loan I took out in April that I am paying off to establish credit and get in with my local CU. My Eq has an old BOA account started in 1999 reporting as closed by creditor. I payed it off after much duress in 2006. No negatives reporting, 100% on time payment history. My goals are to get an auto loan in about 1 year then getting a mortgage in 4 to 5. I would love to get in with Amex at some point to take advantage of their backdating and bonus offers in between. I am getting some targeted offers (none from amex yet) and the $200 plus 14 mo no interest on a chase freedom is the most tempting yet. I am leaning toward going for it, but I was wondering if I had any chance of getting an amex bce/bcp or costco card first. I only have a few months of revolving history, which seems a little weak for an amex. I see people with similar scores on credit pulls getting bce, but they may be more established. Plus I have quite a few new accounts and 3 inquiries on exp, 4 on TU. I don't travel, so the easier delta card is not very useful. I don't want a $100 AF or more on a charge card when I can get several hundred worth of rewards on a Chase Freedom or Amex BCE/BCP in a few months. So here are my options: take Chase and garden for however long it takes to get Amex pre approvals, go for BCE/BCP or costco (or maybe both) then garden until I'm ready for a new car, or go on a spree and get amex and hope Chase still wants me. I'm concerned that the inquiry from a failed amex app may kill the deal with Chase. Also should I apply now or wait for the accounts to turn 2, or even garden for a while instead of getting anything else now? I spend plenty of money at costco and grocery stores to make the amex a good deal. I also plan to use amazon for Christmas shopping, the Freedom 4Q 5% plus no interest would be nice as well. Aside, of the 3 amex, are they similar requirements? I see higher scores for preferred approvals. We do enough grocery shopping to make it worth the AF, but I'd prefer a safer bet. Thanks so much for any advice or similar stories and sorry for the lengthiness.