Advice on applying for Fidelity Amex

Anonymous · ‎10-06-2014

I want the Fidelity Amex. I don't really apply for cards much. About one every few years. I did jump on the Nasa bandwagon and I didn't get a HP, only the SP for membership and the card. I had two previous Amex cards (Blue and Sky) and applied on Saturday Oct 4th for the Everyday so I can backdate (9 years) to offset the new card with aaoa. I figured while I'm at it I might as well add one more card which I've been wanting, the Fidelity Amex. Right now I have 7 inquires on Experian, but all but 2 will drop off in 2015. (and most of them were from getting my mortgage, not CC) I also have the Citi DoubleCash card that was PC from the Dividend card. So I need some people to help persuade me one way or another. Would you get it? I like the idea that it's been around for awhile, where as I hear the Double Cash might not stay 2%... however who knows. My reasoning for doing the card now, is that I rather have the inquires closer to each other than spread out so they drop off around the same time. Current credit score in the low 800's so I'm not worried about being approved. So please, some insight. Thank you!

Anonymous · ‎10-06-2014

I think you should be able to get an instant approval based on what you said. If not I think a recon would be in your favor for sure. Let us know how it works out!

Anonymous · ‎10-06-2014

Thank you for the reply but I'm really wanting to know if I should do it at all. If it's worth it. I have the Double Cash. I just want people's opinions on if they would or wouldn't based on info in original post.

Themanwhocan · ‎10-06-2014

Any card can and will change in the future. But anyone who says the Double Cash won't stay 2% for much longer, when the card has only been around for about a month, really has nothing to base that on. Do you really think a credit card company comes out with a new card with good rewards, already planning to take the rewards away and piss off all the customers it can? Sorry, but this type of logic borders on the paranoid.

You have Double Cash for 2%. You have NASA for a large credit limit and what is basically 2% minus $17.50 per year (assuming you use the card). Do you really need a third 2% card, and does your typical spending that falls outside of typical 5% card bonuses really justify having 3 such cards? My guess is no.

But, its only HP's, and if you have them to burn... why not? Its not as if other companies like US Bank, etc, might decide to come out with some interesting cards anytime soon.

So there you have it. One definitive answer.

TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800

B335is · ‎10-06-2014

@Anonymous wrote:
I want the Fidelity Amex. I don't really apply for cards much. About one every few years. I did jump on the Nasa bandwagon and I didn't get a HP, only the SP for membership and the card. I had two previous Amex cards (Blue and Sky) and applied on Saturday Oct 4th for the Everyday so I can backdate (9 years) to offset the new card with aaoa. I figured while I'm at it I might as well add one more card which I've been wanting, the Fidelity Amex. Right now I have 7 inquires on Experian, but all but 2 will drop off in 2015. (and most of them were from getting my mortgage, not CC) I also have the Citi DoubleCash card that was PC from the Dividend card. So I need some people to help persuade me one way or another. Would you get it? I like the idea that it's been around for awhile, where as I hear the Double Cash might not stay 2%... however who knows. My reasoning for doing the card now, is that I rather have the inquires closer to each other than spread out so they drop off around the same time. Current credit score in the low 800's so I'm not worried about being approved. So please, some insight. Thank you!

You'll have no problem. BoA has approved me with 4x the inquiries you have and half the AAoA. Agree on the DC; it was just rolled out, so Citi already cutting it's primary selling point is purely speculation.

Anonymous · ‎10-06-2014

Thank you everyone for the replies. I guess I was just itching for this card and have been for a long time. I applied and was approved for 9K. Most of my card limits are around 10k so I'm fine with that. 3 cards in one week. Wow. Okay I'm done for another few years. I wonder what my credit score will be after 2 HPs.

longtimelurker · ‎10-06-2014

@Themanwhocan wrote:
Any card can and will change in the future. But anyone who says the Double Cash won't stay 2% for much longer, when the card has only been around for about a month, really has nothing to base that on. Do you really think a credit card company comes out with a new card with good rewards, already planning to take the rewards away and piss off all the customers it can? Sorry, but this type of logic borders on the paranoid.

You have Double Cash for 2%. You have NASA for a large credit limit and what is basically 2% minus $17.50 per year (assuming you use the card). Do you really need a third 2% card, and does your typical spending that falls outside of typical 5% card bonuses really justify having 3 such cards? My guess is no.

But, its only HP's, and if you have them to burn... why not? Its not as if other companies like US Bank, etc, might decide to come out with some interesting cards anytime soon.

So there you have it. One definitive answer.

Right. Citi typically takes 12 months to nerf its cards! But (too late as the OP has already done it) I agree with the post, having three ~2% non-category cards is hard to justify. No least because both the Double Cash and Fidelity Amex have minimum redeptions (and you have to spend on the Nasa card to get to 2%) so you have to have a fair bit of non-category spend to get usable rewards on all three.