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Regular Contributor
navyox
Posts: 234
Registered: ‎09-04-2013

Re: Amex green card

[ Edited ]

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.  

 



Starting Score 676 CK 5/13. Current: 720 EX 9/23 Goal: 760 by 9/14 -- Last App: 10/5/13 in the Garden until 10/14
Valued Member
W0MACK
Posts: 31
Registered: ‎08-19-2013

Re: Amex green card

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.



Current Scores:
EX: 688 01/2014
EQ: 723 02/2014
TU: 729 02/2014
Last App: 01/01/2014
Goal : 750 Across the Board
Frequent Contributor
Pat94108
Posts: 290
Registered: ‎03-23-2013

Re: Amex green card


W0MACK wrote:

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.


+1 ..Some people don't necessarily have the patience but I would do the same.

Frequent Contributor
Shock_
Posts: 332
Registered: ‎08-07-2013

Re: Amex green card

[ Edited ]

Well, I still don't think two charge cards are necessary..

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Regular Contributor
navyox
Posts: 234
Registered: ‎09-04-2013

Re: Amex green card

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.



Starting Score 676 CK 5/13. Current: 720 EX 9/23 Goal: 760 by 9/14 -- Last App: 10/5/13 in the Garden until 10/14
Established Contributor
takeshi74
Posts: 1,479
Registered: ‎06-05-2013

Re: Amex green card

[ Edited ]

+1 to getting a longer credit history established.

 

ripstick20 wrote:

Also I've had no lates and always PIF


That's good but what it utilization like?

 


Shock_ wrote:

Well, I still don't think two charge cards are necessary..


That's fine as necessary varies from person to person.  You have to do whatever works for you.  Others are just pointing out that there are benefits even though you don't seem to see them.

Member
fatalflaw
Posts: 10
Registered: ‎10-23-2013

Re: Amex green card

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.

Discover it- $1800
AMEX Gold Delta Skymiles- $3200
Frequent Contributor
GaTech
Posts: 374
Registered: ‎02-10-2013

Re: Amex green card


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 :/

As of 1/10/2014 EX FICO - 748. EQ FICO - 728. Trans FICO - 755

WellsFargo - $3,000 AMEX BCE - $18,000 Chase Freedom - $4,000




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