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Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Credit limits

[ Edited ]

Yeah...locking in that 2012 membership with AMEX might be good

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Re: Credit limits

Which card do you guys recommend from amex???


Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


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Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Credit limits


AJC1987 wrote:

Which card do you guys recommend from amex???


I had 2 secured cards $1,000 Orchard, and $1,500 local credit union Achieva, Amex approved me for Blue Cash Preferred with a 754 score of $5,500 and Navy Federal for $17,000, Chase few days later for $5,000 Sapphire, and $3,000 Freedom.

 

The cards we recommend will be based on your spending habits. These are my general favorites because I don't travel that much.

 

 

Amex Blue Cash Preferred is a good one since it gives 6% back on groceries, 3% on Gas and department stores.

US Cash + is good for 5% cash back on two flexible catagories (you choose) and have a option called billpay that no one else offers from what I seen. (restaurants and billpay is what I'm hoping for)

Chase Trifecta = checking + freedom + sapphire  Which the  checking + freedom gives you 10 extra points on anything you purchase, and has 5% rotating catagories. If you transfer the Chase points to Sapphire they're worth 20% more for travel so that's 6% + for Catagory spending.

 

For my purposes I don't opt for a 5% gas card like PenFed which could workout for some people because between the Amex Blue and Freedom (5% 6months a year) it averages 3% - 6%+ = over 4.5%+ over the year. and I don't believe getting cards I don't use. I spend about $4,000 a year on gas, and that totals to about 76 dollars a week, so that 0.5% would save me a nice $20 a year =\ 

 

If you travel a lot Starwood Amex is worth a lot for hotels and travel, and Amex Platinum if you take 1 international trip a year it more than pays for it's high $450 annual fee if you do the math. ($200 automatically comped for anything through the airline annually, and $100 global entry pass avoids lines , and priority pass for lounge access and much much more)

 

 

 

 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Credit limits

[ Edited ]

AJC1987 wrote:

Which card do you guys recommend from amex???


HHonors no AF currently offering 65K point bonus (google it)

BCE no AF okay rewards

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Re: Credit limits

I pretty much only use my cards for gas.  I will be closing on a house soon so after that entire process is finished I will be using the card to help buy things to furnish a house.  I pay my cards off entirely or almost entirely every month.  I dont believe in running a balance unless an unnecesarily large purchase is made.  It will mianly be used for gas and an "in case of emergency" funds card.


Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


Take the FICO Fitness Challenge
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Credit limits

AMEX BCE is 2% on gas

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Credit limits

[ Edited ]

AJC1987 wrote:

I pretty much only use my cards for gas.  I will be closing on a house soon so after that entire process is finished I will be using the card to help buy things to furnish a house.  I pay my cards off entirely or almost entirely every month.  I dont believe in running a balance unless an unnecesarily large purchase is made.  It will mianly be used for gas and an "in case of emergency" funds card.


Then you should look into PenFed https://www.penfed.org/Platinum-Cash-Rewards/

but they only give 0.25% on anything else and they're VERY inqury sensitive so remember to apply for this one first.

 

Since only 0.25% on everything else I find it kinda lacking.

 

Like I said before the Amex BCP + Chase Trifecta (freedom + checking + Sapphire) should be your ideal cards then. This will average you over 4.5%+ through out of the year, with a lot more benefits and generous sign up bonuses. $300 checking $100 freedom and 40,000 points worth $500 for travel.

 

Although the Sapphire has a annual fee of $95 waived for the first year, but considering the $900 in bonuses on sign up makes it very lucrative for a long time. The BCP also has a annual fee of $75 but $150 after you spend $1,000 in first 3 months and first year waived so it's like paying 3 years of your annual fees ahead of time. Also AMEX is VERY generous with credit limit increases (but remember very conservative with carrying over balances) 

 

it's really nice if you add a US Bank Cash+ in there as well for 5% restaurants and 5% billpay but that's pretty much upto you. if I could only get 4 cards that would be it.

 

I make about same annual income as you do, but I find these 4 cards a pretty much vital to making your money go 5% further, if used properly it's almost like getting a 5% raise :smileywink:

 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
JustinNguyen
Posts: 99
Registered: ‎10-20-2012

Re: Credit limits

[ Edited ]

this how i did. just like you i got 2 cap1 account. when i hit 2 year AAOA.i paid off 2 card balace down to 0 and add my family 9 years credit card history with never late balance below 30% to my credit report( remember you have to wait for them to report b4 you try to get another cards) i apply for discover .bum 1200 $ credit limit,  i apply for another citi simp..... ^_~ i got 3000 credit limit.then Room2go 3000 credit limit. walmart discover 1000$ all instant approval online. then i just closed 2 cap1 account,bc they got my 45$ for year for each card lol. now i'll use em for another 6 months then request increase CL


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