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I always read and study to much and it has messed me up again. I've always wanted an Amex card and finally got my BCP in today. After reading all the horror stories on here I'm afraid to use it. What if I dont make the payment before my cut date? What if I have to carry a balance for a month or two? I added my wife as an AU, will that red flag me for an audit? What if I don't use it enough and they decrease my cl? Kidding of course, but are they really that hard to deal with? Some post make them sound like a loan shark.
@fastalkintn wrote:I always read and study to much and it has messed me up again. I've always wanted an Amex card and finally got my BCP in today. After reading all the horror stories on here I'm afraid to use it. What if I dont make the payment before my cut date? What if I have to carry a balance for a month or two? I added my wife as an AU, will that red flag me for an audit? What if I don't use it enough and they decrease my cl? Kidding of course, but are they really that hard to deal with? Some post make them sound like a loan shark.
Honestly, I have been utilizing their 0% APR for 15 months (i'm in my 9th month, i believe?) and not a peep from them! Even got the 3x CLI (went from $11k --> $25k). I always make sure to pay way above the minimum; I typically calculate my current balance and divide by the number of months left.
@fastalkintn wrote:I always read and study to much and it has messed me up again. I've always wanted an Amex card and finally got my BCP in today. After reading all the horror stories on here I'm afraid to use it. What if I dont make the payment before my cut date? What if I have to carry a balance for a month or two? I added my wife as an AU, will that red flag me for an audit? What if I don't use it enough and they decrease my cl? Kidding of course, but are they really that hard to deal with? Some post make them sound like a loan shark.
no they are actually very easy to deal with... online is great, they offer SP cli's always, sp declines on new apps, backdating... they are fantastic!
the FR are over done... my partner even went through one that was not even 100% good but I still think they are fantastic and even recently gave him CLI after about a year or so since the FR.
@fastalkintn wrote:I always read and study to much and it has messed me up again. I've always wanted an Amex card and finally got my BCP in today. After reading all the horror stories on here I'm afraid to use it. What if I dont make the payment before my cut date? What if I have to carry a balance for a month or two? I added my wife as an AU, will that red flag me for an audit? What if I don't use it enough and they decrease my cl? Kidding of course, but are they really that hard to deal with? Some post make them sound like a loan shark.
Worrying is overrated. Just use and PIF and you should be fine!
Have had my BCP since 2007 and used it very liberally. CL went up to aroun $10k and I tried to use every bit of it. In 2011 got myself back together and started paying it off and my CL got reduced to $1500 and boy was that a shock. Got over it though and used sparingly, PIF'd each month, even carried a balance for a couple months early this year. CL is up to $34k now and have a Gold DELTA AMEX and Platinum. Be responsible and you will be fine.
@Involver wrote:
If you're going to worry that much about an issuing bank you probably shouldn't have apped their product.
Just use it responsibly, make your payments, don't abuse the account, and you should be fine.
+1
I sure wouldn't let it stress me out. I would charge what I can pay off at the end of the month and just let it be.
I also used to worry about PIF before the statement cut, but geez, I just don't care anymore. Too much monitoring and all to do about nothing (unless you're apping for something ). The bill comes and I send them what I owe them. Done.
most of what I said was in jest. But everyone talks about making sure you pif Amex before cut date. Don't they make their living by people with a balance? I don't plan on not pif just seems funny to me all the horror stories about them cutting you off if you don't pif. Don't get me wrong I'm excited to have the card and will use it, just saying a lot of people make it sound like they will break your knees if you don't play by their unwritten rules.
@fastalkintn wrote:most of what I said was in jest. But everyone talks about making sure you pif Amex before cut date. Don't they make their living by people with a balance? I don't plan on not pif just seems funny to me all the horror stories about them cutting you off if you don't pif. Don't get me wrong I'm excited to have the card and will use it, just saying a lot of people make it sound like they will break your knees if you don't play by their unwritten rules.
Some, but mostly merchant (swipe), foreign transaction and annual fees. Remember the majority of AMEX product distribution is still the charge card, which you have to PIF every month. It's their culture, and at least anecdotally, that also kind of applies to their revolvers as well.
I have only been with them for about nine months, but so far they have been fine. They even approved me for a BCP card. I got the 7-10 day message when I did, which translated into I think 7-10 minutes.... I thought that was funny, I was on the phone trying to recon for it and had already gotten an email telling me approved... Wierd.