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Valued Contributor
scottwagnon
Posts: 1,333
Registered: ‎02-07-2010

AMEX PR GOLD

i decided after alot of thinking to apply for this card. i was approved, but i will close it in september 2012 anyway in order to avoid the annual fee. i only decided on the card to boost my open AAoA and to say that i had it. finding out that amex doesn't hard pull for denials on existing cardmembers finally got me over the hump of hesitance.  i plan on using the card as little as possible for at least two to three months, and then use it very judiciously after that. i am keeping my fingers crossed and intending to tread water lightly with this card and my fingers crossed.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Frequent Contributor
Mekitcat
Posts: 260
Registered: ‎06-23-2011

Re: AMEX PR GOLD

Congrats! and good luck who knows maybe you will find that you like it and decide to keep it.


Starting Score:4/5/11 TU 660 fico, EQ 634 fico, EX 647 (Credit Inform)
Current Score:07/04/12 Myfico TU 690 Walmart fico 702, EQ 660 fico 07/05/12, EX fico 689 06/03/2012 (Amex)
Goal Score: 750+


Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009

Re: AMEX PR GOLD


scottwagnon wrote:

i decided after alot of thinking to apply for this card. i was approved, but i will close it in september 2012 anyway in order to avoid the annual fee. i only decided on the card to boost my open AAoA and to say that i had it. finding out that amex doesn't hard pull for denials on existing cardmembers finally got me over the hump of hesitance.  i plan on using the card as little as possible for at least two to three months, and then use it very judiciously after that. i am keeping my fingers crossed and intending to tread water lightly with this card and my fingers crossed.


I got mine last year and immediately had it become my everyday card and the card I use for business expenses.  I can't remember exactly now, but I bet I put around $3000 through it the first month.  I probably average about $5000 per month on it.  I've never heard anything from Amex.  I don't think there's a need to take it real easy with them the first couple months. No big deal if they cut off charging and you have to make a midcycle payment, especially if you have a backup card.  This card gives you an extra 15K MR points every year if you put $30K of spend through the card, so they are trying to incentivize at least $2500 in spend per month. 


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Regular Contributor
networkguy
Posts: 217
Registered: ‎04-17-2007

Re: AMEX PR GOLD


Walt_K wrote:

scottwagnon wrote:

i decided after alot of thinking to apply for this card. i was approved, but i will close it in september 2012 anyway in order to avoid the annual fee. i only decided on the card to boost my open AAoA and to say that i had it. finding out that amex doesn't hard pull for denials on existing cardmembers finally got me over the hump of hesitance.  i plan on using the card as little as possible for at least two to three months, and then use it very judiciously after that. i am keeping my fingers crossed and intending to tread water lightly with this card and my fingers crossed.


I got mine last year and immediately had it become my everyday card and the card I use for business expenses.  I can't remember exactly now, but I bet I put around $3000 through it the first month.  I probably average about $5000 per month on it.  I've never heard anything from Amex.  I don't think there's a need to take it real easy with them the first couple months. No big deal if they cut off charging and you have to make a midcycle payment, especially if you have a backup card.  This card gives you an extra 15K MR points every year if you put $30K of spend through the card, so they are trying to incentivize at least $2500 in spend per month. 


Same here. I earn far more $$$ through points than the annual fee, so its worth it for me. It isnt for everyone though. Ive put everything I possibly can on my card including a down payment on my motorcycle, and all the so-called taboo charges (Walmart usually 4-5 times/month, liquor stores, adult stores, etc) and nary a word from Amex.

 

The thing with the PR Gold, to be beneficial you sometimes have to be strategic in your purchases. for example, the grocery store I shop at has a gas station. The more you spend with them, the more of a gas discount you get. Now that Im a new home owner, Home Depot is my favorite store lol. So, I buy gift cards for Home Depot at the grcoery store.

 

1. Get double points with Amex

2. Earn gas rewards at the store

3. Earn more gas rewards if there is an in store promo for gift cards (like now...4x points for gift cards).

 

All for the same money I would've spent at Home Depot anyway.

 

Or, for Walmart, just buy gift cards on Amex's site for 5x, or 10x, or whatever promo theyre running for gift cards.

 

Stuff like that.

 

Charge with confidence, sir.

Valued Contributor
clocktick
Posts: 1,603
Registered: ‎12-07-2008

Re: AMEX PR GOLD

I've always wondered, how do these points work?  Do they convert to cash?  Do you have to buy things in order to utilize these points?  Can you buy anything?

11/30/08 TU 648 EX 672 EQ 656 JUNE 2014 TU 779 EX 764 EQ 721
Amex BCP $24.1K/Clear $8.5- Barclays LLBean $15k/Sallie Mae $12.5 -Cap One QS $4 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


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Regular Contributor
networkguy
Posts: 217
Registered: ‎04-17-2007

Re: AMEX PR GOLD


clocktick wrote:

I've always wondered, how do these points work?  Do they convert to cash?  Do you have to buy things in order to utilize these points?  Can you buy anything?



You can pay part of your bill with points, or redeem on Amex's travel site or Amex's retail site. Stuff like gift cards, merchandise, pay at Amazon with points, stuff like that. The best redemtion is travel or gift cards.


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