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AMEX is awesome!!

Member

AMEX is awesome!!

So I don't have the best credit, and have be on the track to getting good again. Well, I applied for several cards on Sunday and AMEX was the only one to approve me (and instantly at that!).

 

This morning I checked the mail, and there it was...my new/first AMEX card!! So I applied late Sunday, and received the card early Thursday...to me, thats awesome. I even called to say Thank You, and the lady was really nice and explained how AMEX works and welcomed me to the "family".

 

Just wanted to share my experience,

 

John

Message 1 of 20
19 REPLIES
Valued Contributor

Re: AMEX is awesome!!

What were your scores when you applied?


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 2 of 20
Valued Contributor

Re: AMEX is awesome!!

Congratulations.

 

I too have increasingly become a fan of Amex and just a few years ago I had no credit cards and was just using a debit card but got tired of the hassles renitng cars. I'm retired and really like charge cards to the point I use all my CCs as if they were charge cards. It's the perfect type of card for us retired folk and only prudent since I can't imagine carrying debt after retirement. Debt can make sense when you are on the front end of a career ramp but otherwise should be used sparingly.

 

I've only had my Amex card for 6 months and have never encountered a problem charging anything. I recently made >20k purchase over the phone without issue. That was the first time I ever checked spending ability since it was 5 times any previous purchase.

 

One thing in particular I love about Amex is they itemize the tip/food bill at restaurants. I wish others did that and perhaps some do but the others that I have don't.

 

I also like the AU management and the fact AU charges are separated out and on a seperate card number that I can set CLs and spending alerts on.  Great, great stuff.

 

Treat it well and they will do the same. Usually. I haven't been through a FR though. If they do I just hope they will be able to pull from my bank enough to cover spending while they do their thing. I can certainly understand why they freeze accounts during an FR so maybe that's a way to guarantee funds during the process.  If not I'll use other cards during the interim.

 

 


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Message 3 of 20
Member

Re: AMEX is awesome!!

thanks!

 

and my score was very sub-prime very very bad....~581 i think.

Message 4 of 20
Established Contributor

Re: AMEX is awesome!!

Congratulations!! Which Amex did you apply for? Any baddies? Inquiries? Util? I wanna reapply for zync coz i got denied last April... I have this urge of applying again...

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 5 of 20
Member

Re: AMEX is awesome!!


kobe2012 wrote:
Congratulations!! Which Amex did you apply for? Any baddies? Inquiries? Util? I wanna reapply for zync coz i got denied last April... I have this urge of applying again...


thanks....i applied for the Zync and was instantly approved. Have a bad history, but have been perfect for several years now. Still have a couple derogs that haven't fallen off. Util was around 30-40% i think. I applied for several cards that night, and haven't applied for approx. a year  for any cards before Sunday. AMEX was the only one that approved me, and it was a complete surprise to say the least. I think it was my perfect payments for the past 2.5-3 years and my income that really helped me out more than anything. I even called to thank them today. Made the lady laugh, and she said it made her day.

 

-John

Message 6 of 20
Established Contributor

Re: AMEX is awesome!!

I too like American Express. I like pulling my Plum Card out and using it. I like logging into on mobile and online. I love my purchasing power. I'm currently carrying an $18k+ balance into the final 10 days of my cycle and just made an additional $7k+ purchase with no problem. It was an important equipment purchase and love the room I have to just do what I need to and not worry about it.  I prefer the feel, account layout, online functionality and service...the whole package...to my other business cards....particularly to my Capital One Spark (Chase Ink is nice too all around...no real complaints).

 

What I don't like is my rewards system. I get a 1.5% discount if I pay my balance in full within 10 days of the statement date. I always do. This month's discount is heading toward about $400 based on what my balance will be. I feel like it should be higher. Capital One insults me, my credit scores and my business's needs with a paultry $5,000 limit  BUT, they give me a flat 2% cash back as soon as I buy something...not if I pay in full within a certain amount of time and not 1.5%. On this month's Amex balance, that would be roughly an extra 100 bucks for that 0.5%. But then again, I could never purchase the way I do with the Plum on the Spark because of my low CL. But bottom line, Amex charges a higher interchange fee than Visa Business and charge a much higher annual fee. They have more revenue to play with and they deal with a lot of revenue per user because of the demographic that uses their cards. When you look at the rewards system on the Plum as well as their other rewards charge cards, they really fail to impress when you consider the higher fees they collect per transaction. It's actually quite stingy. 

 

So, while my heart would rather use Amex for a variety of reasons, the bottom line cash reward is inferior to a company (Capital One) that is inferior is virtually every way in terms of the customer experience and satisfaction level. So my head can't get past it and they can't win more business from me. If that extra .5% was put back on the Plum (it used to be there as late as 2010 when they paid 2% if you spent $5k+ and 1% if you spent less than $5K.), They'd have me hooked. And beyond that, the rewards on their business charge cards (and personal too) aren't that great when you really look it. Brick and Mortar businesses simply don't have as much to gain from Amex as jet set suit and tie businessmen. It's a let down.

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 7 of 20
Established Contributor

Re: AMEX is awesome!!

I have a couple of collections... When i applied for amex, i also applied for citi forward and chase freedom the same day...all declined 😢...amex pulled EX with 607 score .. I think my score increased since my util went down to < 10% ... I really want my foot in the door since i only want a couple of prime cards on my list and im done applying

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 8 of 20
Valued Contributor

Re: AMEX is awesome!!

What limit did they give you w/ a 581 score?

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 9 of 20
Valued Contributor

Re: AMEX is awesome!!

Posts like these give me hope...I hope AMEX is as kind to me when I pull the trigger later this year.

Scores 5/15/2016 (clean reports!): TU Walmart FICO: 696 | EQ FICO: 679 | EX AMEX FICO: 680

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | Citi AAdvantage Platinum Select World MasterCard: $6400 | Barclaycard Arrival World MasterCard: $1000 | Discover IT: $2500 | Amazon Rewards Visa Signature: $1500 | Chase Freedom: $1500 | Capital One QuicksilverOne MasterCard: $2100 | Target: $2800 | J.Crew $21,550 | Marvel (Captain America) MasterCard: $6000
Message 10 of 20