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Bad idea to get a AMEX Premier Gold Rewards?

Contributor

Bad idea to get a AMEX Premier Gold Rewards?

I currently have several credit cards...looking to apply for the AMEX Premier Rewards Gold card to enjoy more benefits...based on my credit card profile below, should I get it, no? or doesnt matter! I currently have around 750 FICO Score. Worrying about the NPSL affect...

 

AMEX Blue Cash

- 10k limit

- Heavily used, each year getting around $400 cash back

 

Chase Freedom

- 9k limit

- Downgraded from Visa Signature

- Occasiionally used when AMEX are not allowed

 

Chase Perfect

- 3k limit

- Paying one bill monthly to keep revolving alive

- Changed from old WaMu card

 

Wells Fargo Platinum
- 2k limit

- Paying one bill monthly to keep revolving alive

 

Citi Platinum Select - 11k limit

- Not used at all

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FICO pulled by loan officer on 8/3/2009
EQ: 724
EX: 740
TU: 742
Message 1 of 4
3 REPLIES
Moderator Emerita

Re: Bad idea to get a AMEX Premier Gold Rewards?

I haven't had enough coffee yet --"NPSL effect"? * squints *

I enjoyed my Gold Premium Rewards card for the 11 1/2 months that I had it. I was too cheap to pay the fee (waived in the first year), so I picked up a Blue and closed the Gold.

It looks like a nice complement to the collection you already have. How old is your Blue --older or younger than your AAoA? If your Blue is older, adding a Gold will help even more, as it will report the month that you get it now plus the year in which you got the Blue. If the Blue is younger, adding the Gold will drop your AAoA, maybe enough to affect your scores; maybe not.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 4
Contributor

Re: Bad idea to get a AMEX Premier Gold Rewards?

As we have discussed before on here, NPSL card like AMEX Charge Cards and Visa Signature Cards report the usage differently than normal revolving account...I afraid the NPSL card would affect my overall credit utilization ratio.

 

My Blue Cash is 2+ years now, my oldest account is actually my Wells Fargo which I have had it since 2004.

-----------------------------------------------------
FICO pulled by loan officer on 8/3/2009
EQ: 724
EX: 740
TU: 742
Message 3 of 4
Moderator Emerita

Re: Bad idea to get a AMEX Premier Gold Rewards?

Oh, no pre-set limit cards! 15 hours later, I am now awake.

AmEx charge cards do not affect your util except on the older version of TU, still used here (unfortunately.) The newer version of TU sets it aside from calculating util, as do EQ and EX.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 4