Hi all,
Still kinda new here. 
Well, there are a lot threads about this card, and I read some of them, but except for the freezing IDA/ARS method that everyone knows, what else be done to improve the chances to get the card (and avoid downgrading to cash rewards)?
Personally I talke to the banker, and the only effective information I got is that he suggests me to bank with them for at least 6 months with more than $10,000 in total assets. That's a big commitment. I do not want to do this without knowing the approval will be guaranteed, especially they don't have much of an option to invest, unlike Chase or Citibank. I just wonder whether there's any success story by doing this?
Any other approach is appreciated. Much appreciated! My personal info should be in the siggy (just updated!).
@Glastium wrote:Hi all,
Still kinda new here.
Personally I talke to the banker, and the only effective information I got is that he suggests me to bank with them for at least 6 months with more than $10,000 in total assets. That's a big commitment. I do not want to do this without knowing the approval will be guaranteed, especially they don't have much of an option to invest, unlike Chase or Citibank. I just wonder whether there's any success story by doing this?
Any other approach is appreciated. Much appreciated! My personal info should be in the siggy (just updated!).
Personally, I wouldn't want any card badly enough to tie up this much cash. It's a nice card but not that great, IMHO.
The whole point is that I spent approx. $1,000 in dining per month. The best option out there, with the cards I currently have, is approx. 2.5% on Hilton only. I like Hilton, please don't get me wrong, but it is an AmEx card, which is simply inconvenient for dining. One alternative is to get the CSP and use that. But that'll be another $95 of annual fee. Having Cash+ saves me at least $20 per month, and it'll be $120 every half a year. If I put $10,000 in for that card, which literally means 1.2% for half a year, i.e. 2.4% per year. Much higher than savings interest and it's guaranteed.
@longtimelurker wrote:
@Glastium wrote:The whole point is that I spent approx. $1,000 in dining per month. The best option out there, with the cards I currently have, is approx. 2.5% on Hilton only. I like Hilton, please don't get me wrong, but it is an AmEx card, which is simply inconvenient for dining. One alternative is to get the BCP and use that. But that'll be another $95 of annual fee. Having Cash+ saves me at least $20 per month, and it'll be $120 every half a year. If I put $10,000 in for that card, which literally means 1.2% for half a year, i.e. 2.4% per year. Much higher than savings interest and it's guaranteed.
I thought it wasn't guaranteed, or has the banker promised that if you do that, you will get the card (and even if so, I doubt he/she has the authority to really approve!)
BCP doesn't cover dining (and is $75. EDP is $95, but that isn't dining either). Also remember that Cash Plus maxes out at $2000 per quarter, so your third month of dining would pay at 1% if you used it.
Thanks for the info. I meant CSP, not BCP (Sorry about the confusion).
My banker doesn't say explicitly that it is guaranteed to approve, but he strongly implies that if I do something like that, I will get approved, or there's something that he can do to get me approved. I'm skeptical as well.
And yeah, I totally forgot that now Cash+ has a cap....which sucks.
@core wrote:How is Amex "inconvenient for dining"?
Two of my favorite restaurants just don't do AmEx. It's very YMMV I realized.
I would say the best strategy to get the Cash+ would be 700s across the board, a history of cards with a $5k+ CL (it is a VISA Signature), and limited/no inquiries or new accounts in the past two years. US Bank is VERY INQ and New Account sensitive. Seeing that your AAoA is only 4 months, I probably would garden for a year and let stuff age and INQs fall off. Freezing your ARS/IDA wouldn't hurt either.
Good luck and keep us informed
