09-11-2012 07:29 AM
So I have some new tools in my credit toolbox and I'm wondering the best way to garden with them so they will become powertools
1. Walmart Discover - that's easy one (will use for groceries and gas)
2. AMEX Zync
3. AMEX Delta Miles
Not sure how best to use AMEX cards.
1. ZYNC Questions:
Right now I have connect and restaurant pack on Zync. What other 2 packs should I add?
What is best way to establish spending pattern on a charge card while still utilizing other cards? Im thinking of using this as my cable/cell bill payment method and at dining places. Other suggestions?
2. Delta Questions:
My limit of 2k is low so I want to maximize my chances of CLI at 61 days, suggestions?
Im thinking of using this to pay car note and maybe one other bill...would push about 800/month on it but that may not help me with CLI.
Any other advice is greatly appreciated. Glad to finally be back in AMEX family. When cards arrive I will check on backdating.
09-11-2012 10:26 AM - edited 09-11-2012 10:29 AM
Always add the home pack to the Zync, Its a free yearly $20 gift card and its only a $15 add-on. If you added the connect pack, start charging your wireless phone/internet service through the card, otherwise you added a pack for nothing. Whenever you eat out, put it on the Zync as well. Edit: Add the eco pack as well... it's free and gets you 2x points at various retailers. Also your spending pattern will adjust. Just use it for what you think you will typically use it for.
Do you plan on really using the Delta Skymiles card to start acquiring miles or because you thought it would be an easier revolver to get than the BCE/P? If you got it for the miles, put everything else on it other than gas, groceries, restaurants, and your 'connect' bills. In other words, all other expenses.
I don't think using your Delta card heavily will keep you from getting a CLI in 61 days as long as you pay it in full when the statement cuts.
09-11-2012 10:40 AM - edited 09-11-2012 11:58 AM
You know, I really don't recommend connect and restaurant pack. Because unless you spend $1251 or more on each category per year, you won't offset the AF. Even if you do spend past $1251 your maximum return is less than 2%, which is to say pathetic.
Eco packs is good since it is free. Home pack is another good option if you shop frequently at Lowe's, since it gives out Lowe's GC and average return is 8%.
09-11-2012 10:54 AM
On the Zync card, use the card mostly for your typical expenses at first, cell phone bill, cable bill, don't spend more than your monthly income, don't use it on jewelery or luxury items for a while especially right after playing with the "check spending ability", pay on time or preferably before the statement cuts. If you want to see what you internal limit is, use it once a month after you have made all your typical purchases, and just before you make your payment for the month or call customer service and ask what it is say you might have a 2 week long bussiness trip with clients and you don't want to be embarased by having a charge declined. Don't add any AU's on the account for a while. Don't volunteer to put the $2000 office purchase on the card ( for points) even though you know you will be reimbursed 3 days later, until you have established your spending and payment patterns with AMEX, $20 in rewards is no reason to get an FR in the first few months.
Since you are new to AMEX and haven't fully linked your checking account to AMEX yet, it takes a month, they will only allow on payment the first month unless you have a payment due. To fight this you need to setup your checking account to push to your AMEX accounts, double and check your routing number and account number. Then you can push payments when ever AMEX is not allowing it. After the first month you can make as many payments as you like without a problem.
After you and AMEX have established your relationship things should go smoothly just spend at the levels your current income permits.
09-11-2012 11:53 AM
My AMEX prepaid is already linked to my checking account. I wonder if they can transfer that over? I plan on pushing about $1,000 per month through card as that was what I was doing with the prepaid card. Maybe bump it up to $1500.
I'll add the home and eco packs. In terms of connect, I have 3 cell phones on family plan that I pay ($280/month) plus cable/internet ($200/month) which gives me a yearly spend above the $5,000 cap just from those two items.
Restaurant pack - I may end up dropping this but wanted to see how much benefit I get from it. Since the AF is waived this year, Im treating this pack's price like my AF for the card. If I don't get enough use out of it by end of year then I'll drop prior to my AF hitting.
Delta card: I currently have about 30,000 miles on my Sky miles account. I travel Delta on average about 4-6 times per year. I'll probably put another $1500 or so each month through this card.