Amex revolver

[720ismygoal]

Hi,

what is an Amex revolver card? a credit card?

[Datx]

Hi.

Yes it is.

[720ismygoal]

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@Datx wrote:

Hi.

Yes it is.

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Sweet, thanks!

[Tikon]

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@720ismygoal wrote:

Hi,

what is an Amex revolver card? a credit card?

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The traditional AmEx cards are charge cards, e.g. zync, green, gold, platinum, black. They must be paid in full every month.

The AmEX credit cards, aka revolvers, have an assigned APR and can be paid back in portions. Bluecash, CostCo, Starwood are popular examples. The bluecash is the best for everyday spending with no (everyday) or low (preferred) annual fee (For me at least).

[injustifiiable]

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@Tikon wrote:

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@720ismygoal wrote:

Hi,

what is an Amex revolver card? a credit card?

---

The traditional AmEx cards are charge cards, e.g. zync, green, gold, platinum, black. They must be paid in full every month.

The AmEX credit cards, aka revolvers, have an assigned APR and can be paid back in portions. Bluecash, CostCo, Starwood are popular examples. The bluecash is the best for everyday spending with no (everyday) or low (preferred) annual fee (For me at least).

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Let's not forget, the revolvers are harder to get as well...lots of people build a good history with AMEX with a charge card and then get nice limits on the revolvers. :-)

[720ismygoal]

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@Tikon wrote:

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@720ismygoal wrote:

Hi,

what is an Amex revolver card? a credit card?

---

The traditional AmEx cards are charge cards, e.g. zync, green, gold, platinum, black. They must be paid in full every month.

The AmEX credit cards, aka revolvers, have an assigned APR and can be paid back in portions. Bluecash, CostCo, Starwood are popular examples. The bluecash is the best for everyday spending with no (everyday) or low (preferred) annual fee (For me at least).

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How hard is it to get an Amex revolver? or what credit score is required?

[Tikon]

Harder than most I would say. A family member works for AmEx, not in the credit department, but he does say AmEx specifically targets high income and/or 'excelent' credit (above 750). I don't know how reliable the info is. Their default rate IS lower, far lower, than most visa/mc issuers and discover, so they obviously are denying the right people at some point (or not attracting them I guess).

[Tikon]

I guess I should point out my income is very low (29k/yr graduate student) and my credit wasn't at the level I just mentioned (I was 720) and I got the card. With this card my total revolving credit line is about 60k (double my annual income) but they still gave me a nice $5400 line. Who knows what they look for, but I do think I was pretty lucky considering.

[injustifiiable]

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@Tikon wrote:

Harder than most I would say. A family member works for AmEx, not in the credit department, but he does say AmEx specifically targets high income and/or 'excelent' credit (above 750). I don't know how reliable the info is. Their default rate IS lower, far lower, than most visa/mc issuers and discover, so they obviously are denying the right people at some point (or not attracting them I guess).

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+100.

OP was asking about the Zync earlier. That's certainly a good door in with AMEX as it's one of their easier cards to get....use responsibly for like a year and they'll take that into consideration when applying for a revolver.

Plus they will backdate the new card!