@takeshi74 wrote:A lot of people rely on the notion that "AmEx hates balances" but that's a gross oversimplification. A lot people are also concerned that any action they take may trigger an FR. You always have to consider the source.
+1000
AMEX would not offer revolving credit if they were not OK with people carrying balances and/or BT. The fact that they have expanded their offerings of revolving credit products in recent years proves that they make PLENTY of money from these cards.
Banks care about two things: Making money and managing their risk. But making money definitely takes precedent. So if they are making money from you, and you are not showing yourself to be a major credit risk, they will continue to grant credit.
Takeshi is so right about considering sources. OP, take every absolute delaration you read with a grain of salt. If you read posts on here from someone about how their bank "screwed them" and closed their account "for no reason" even though they have an 800 score, 3% UTL, and make $150K/year...they are either a) not telling the whole story or b) have extremely unusual spending which triggered red flags. If you are a normal credit consumer; pay on time keep your overall UTL at a reasonable level, and use your cards in predictible ways, you have little to fear.
@Dw4250 wrote:
@takeshi74 wrote:A lot of people rely on the notion that "AmEx hates balances" but that's a gross oversimplification. A lot people are also concerned that any action they take may trigger an FR. You always have to consider the source.
+1000
AMEX would not offer revolving credit if they were not OK with people carrying balances and/or BT. The fact that they have expanded their offerings of revolving credit products in recent years proves that they make PLENTY of money from these cards.
Banks care about two things: Making money and managing their risk. But making money definitely takes precedent. So if they are making money from you, and you are not showing yourself to be a major credit risk, they will continue to grant credit.
Takeshi is so right about considering sources. OP, take every absolute delaration you read with a grain of salt. If you read posts on here from someone about how their bank "screwed them" and closed their account "for no reason" even though they have an 800 score, 3% UTL, and make $150K/year...they are either a) not telling the whole story or b) have extremely unusual spending which triggered red flags. If you are a normal credit consumer; pay on time keep your overall UTL at a reasonable level, and use your cards in predictible ways, you have little to fear.
Very true...my boyfriend carried a maxed out balance of 1.8k on a 2k card for years making only minimum payments. He BT'd to a 0% card and finally paid it off just a few months ago. He has no lates/baddies/etc so he was never CLD/AA'd. I take everything on here with a grain of salt (as well as the rest of the internet) as there is often more to the story than posters might let on.
Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500
