Which AMEX should I app for?

[abhowmick18]

Try applying for the AMEX Blue? No annual fee, solid rewards. Starts you off at a good amount and after 61 days you can go for a 3x CLI

[mongstradamus]

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@abhowmick18 wrote:

Try applying for the AMEX Blue? No annual fee, solid rewards. Starts you off at a good amount and after 61 days you can go for a 3x CLI

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If you are going for no af revolver , why not ED. You get 2x groceries and 20% bonus for meeting 20 swipes i would think thats better than Blue ?

[chalupaman]

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@taxi818 wrote:

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@Anonymous wrote:

 Maybe it's just me, but I would be too scared to carry a balance on AMEX for prolonged period of time. Especially when establishing a relationship. Maybe she could try a card specifically for this purpose like Chase Slate?

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Scared of what? 

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The Amex bear probably.

[NRB525]

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@Anonymous wrote:

Well, not me, my mom

My mom and I are birds of a feather. While she has awesome credit- 735 FICO, only 3 tradelines (2 cap 1 with 11k, 9k,  and a disc with a 6k limit, never carries a balance) I am rebuilding. 

So since I am rebuilding and I am reading all the forums, I have learned so so so much-and I want to help my mom build a more robust credit file. While she does have a low interest mort, she does not have an installment loan.

Basically, we want to try to do the AMEX 3Xcli, because we vacation together and want to get all the points possible to stay at Disney/whereever.

So she and I sat down and did the prequal for Amex, and she got the Amex Preferred Credit Credit card with 0% for 15 months on BT, and then the Amex PR Gold Card (with the 175 fee and due at the end of the month.

We were shooting for the SPG card, but the Amex PCCC is 25k points for 1k of purchases, the other is 50k, for 3k of purchases.

I say she should shoot for Amex PCCC, but she wants info from you lovely people.

Her furnance just died, so she will be putting 5k into it- I told her she should try to charge it to Cap1, then BT to her new amex and pay it off rather than dip into her modest savings.

Happy Christmas!!!

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The furnace repair can go on one of the CapOne cards. When that is done, however, be prepared to pay that bill monthly for the forseeable future. Do not go into making that card charge with any presumption of any BT amount not already in hand. The only known out you would have right now for a BT is if Discover provides you with a 0% or low interest BT offer. And they very well might, I am on a Discover 0% BT, and they keep sending me notices for that. Discover would probably love to get that $5k on a 0% APR 12 month or 18 month offer.

Your mom should apply for the EveryDay card. The ED Preferred and PRG have substantial AF that it sounds like she is not familiar with. True, the ED has a little bit lower points earning, but you aren't forced to try to use the card to justify the AF. That "AF to get more points" changes cardholder behavior.

Depending on the CL that is granted (and given scores and existing CL the AMEX ED CL could be adequate) then you can look at utilizing the 0% BT offer for the CapOne transfer. But she doesn't have the AMEX in hand yet, so again, know going in to using the CapOne that might be on that card for a while.

What are the interest rates on the two CapOne and the Discover Card? Has she gotten any 0% or 4.99% BT offers from Discover recently?

The Discover offers I get, on the same mailing, are 0% BT for 18 months, 3% BT Fee, or 4.99% BT for 24 months, No BT Fee. Both are great deals.

Good luck!

[Anonymous]

She was approved for the Every Day Preffered card, with a 13,9k credit limit. Its a weird limit, but hey- thats awesome.  Though with that kind of limit, I dont know if she will want to try the 61 day 3xcli trick. 

While 0% on BT are in effect for the card, she got a little nervous when others chimed in that AMEX may not like her keeping a balance on the card. She put it on her cap1 Venture, (its a 7.99 APR- Im not sure about the other cap1 or discover)

Right now, she is thinking about app'ing for a Hawaiian Airlines card, and taking 1/2 of the BT to that card, getting the miles for the round trips.  She has been frugal all her life, and extremely disciplined. While I would personally call Disc and try for a BT at 0%, she wants a trip. Cant say I blame her.

Yay myfico! Thank you everyone!!!!

For others who are curious, she app'd got the 7-10 biz days, and then got an email needing her to verify a few things. Today they emailed her about her limit, and asked her to set up the account.