@Shock_ wrote:
@09Lexie wrote:
I would never upgrade a charge card and lose out on the sign up bonus. But, it is possible it's done all the time.
The UW is the same for all charge cards. IMO, its wiser to app for the card you want and get your sign up bonus.I already got my 25k points bonus. If I upgrade, I'm pretty sure it's transferable?
It wouldnt hurt to have more TL's, but I don't want to pay 2 AF's of 95 and presumably 175, especially if a charge card let alone two of them arent that beneficial for FICO purposes. A 175 AF is justifiable with rewards...hence a 95 AF without rewards is not.
Actually a charge card can be very beneficial for FICO purposes. For one it is is a different type of product, so it shows some diversity to your credit mix. Now some people assume that lack of a reported limit makes it not good for FICO purposes but this is actually what makes it great. Most scoring models ignore charge card balances for utilization purposes, so if you are going to be applying for something you can shift your spending to the charge card and it will effectively lower your utilization.
OP: Getting 'foot in the door' during 2013 will be beneficial for future Amex's due to back-dating feature. Also Amex is willing to give a charge card to many customers who frankly wouldn't get approved for one of their revolvers. Take the no AF green card offer, use card for 4-6 months wisely and then app for desired revolver.
Charge cards are very useful for utilization purposes as another poster mentioned. Amex loves their charge cards, they hold the reins on the limits, get paid in 1 billing cycle, and collect a substantial AF.
I don't think two charge cards are necessary either, unless you really like MR and use PRG/Plat for a combo of points and perks. However, if the OP has already gotten the 25000 MR from Green signup bonus and has eyes on another charge card, upgrading could make sense.
@fatalflaw wrote:Yesterday I got a letter in the mail from AMEX trying to get me to apply for the Platinum Delta Skymiles. It had a sign up bonus of 45k points and $100 statement credit. I was interested in the Skymiles card because I already have a lot of miles with Delta but don't spend enough to justify the $150 annual fee. So instead of applying for the Platinum I applied for the Gold with a sign up bonus of $30k miles, $50 statement credit and the annual fee waived for the first year. I was instantly approved with a CL of $3200.
I've never gotten an offer for the AMEX Delta Platinum. Just the regular Delta Gold with the typical 30k bonus miles/annual fee waived for year 1 :/
