First AMEX?

[Anonymous]

Good points! Thanks, all. I don't think the amount of spending I do at grocery stores would really make this card make sense for me. I did some more research last night, and think maybe a BarclayCard Arrival would be best for me, since a lot of my spending is on dining out. But, that's a whole different conversation for a whole different thread

[Anonymous]

I really wish my local Walmart would code as a grocery store for my BCE. It would make my life much easier after I've maxed my Sallie Mae for the month.

[Anonymous]

It codes for supermarkets. Fred Neyers, Walmart, and Target are not supermarkets, even if they gave them attached.

[Anonymous]

I got the delta last night. My wife also has the delta but we do fly alot typically 4+ times a year mimimum. Its nice to get a little bit off when theres 5 of us flying.

Im waiting on my decision on the BCP, again it will be very rewarding for us being such a large family we will benifit from the 6%.

It feels good finally able to use my credit to get something in return. For once I feel like all the hard work I've put in is finally paying off. and it is literally paying me!!

Barclay, even tho I have it and use it alot. I have the apple rewards. wish I would have got the reward but barclay is pretty strict on giving 2 cards out until they get to see how your spending habits are, carry a balance etc. When i talked to the service rep he was straight forward with me. He said they generally wont give a second card until 6-12 mo of history with them.  Theres really so many apple products i can buy lol. It is a very attractive card but have a feeling it's going to get SD if i get the BCP. My 2 most used cards are the AMEX ( AU on) and capital one. because of how they fit into my spending.

The Folks on MyFico have been very helpful with that.

Good luck OP!!!

[takeshi74]

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@Anonymous wrote:

Really want to join the Amex club....

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Why?  Don't select a creditor and then try to justify a card from that creditor.

Sort out your needs/wants.  Use that as critieria to select specific cards that suit you.  Don't put the cart before the horse.

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@Anonymous wrote:

Right now, the Amex Everyday Card looks like the best bet since it has no annual fee.

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Don't consider just the AF either.  Consider total cost/benefit.  Run the numbers for your spend.  For rewards programs like Membership Rewards with the Everday card you also need to look at redemptions.  The redemptions processes that you can use will have an impact on reward value.

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@Anonymous wrote:

According to Credit Karma, I'm at 696, and on Cap1 credit simulator, I have 720.

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Neither of these are relevant.  If you're going to rely on scores then you need to know the score, model and CRA used by a creditor.  AmEx does not use the VantageScores provided by Credit Karma.  Nor does it use the TransUnion New Account score provided by Capital One.

Additionally, it's never just about score.

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@Anonymous wrote:

Thanks for the tip! Is the best way to get a Fico score thru this site?

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Best is always highly subjective regardless of topic.  An EX FICO 8 is an EX FICO 8.  It doesn't matter where you get it from.  People can certainly have reasons for preferring one source over another.  myFICO provides access to additional scoring models whereas other services may only provide FICO 8's.  If that matters then one could prefer myFICO.

Just as with card recommendations, you need to provide your requirements for feedback.

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@Anonymous wrote:

Also, I think I would want rewards, since my Cap1 QuicksilverOne is cash back....so I think it would make sense to diversify a bit, right?

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Not necessarily.  Don't just assume that having a cash back card means that you should then get a points/miles rewards card.

It doesn't make sense to spread your spend over different rewards programs if it means that you'll accrue rewards too slowly.  This is why you need to run the numbers for your spend.  Not only do you want to know how much MR points will be based on the redemption method(s) you use but you also want to know how quickly you'll acrrue MR points to redeem.  How long will it take you to reach the number of points needed to redeem?

[Anonymous]

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@takeshi74 wrote:

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@Anonymous wrote:

Really want to join the Amex club....

---

Why?  Don't select a creditor and then try to justify a card from that creditor.

Sort out your needs/wants.  Use that as critieria to select specific cards that suit you.  Don't put the cart before the horse.

---

@Anonymous wrote:

Right now, the Amex Everyday Card looks like the best bet since it has no annual fee.

---

Don't consider just the AF either.  Consider total cost/benefit.  Run the numbers for your spend.  For rewards programs like Membership Rewards with the Everday card you also need to look at redemptions.  The redemptions processes that you can use will have an impact on reward value.

---

@Anonymous wrote:

According to Credit Karma, I'm at 696, and on Cap1 credit simulator, I have 720.

---

Neither of these are relevant.  If you're going to rely on scores then you need to know the score, model and CRA used by a creditor.  AmEx does not use the VantageScores provided by Credit Karma.  Nor does it use the TransUnion New Account score provided by Capital One.

Additionally, it's never just about score.

---

@Anonymous wrote:

Thanks for the tip! Is the best way to get a Fico score thru this site?

---

Best is always highly subjective regardless of topic.  An EX FICO 8 is an EX FICO 8.  It doesn't matter where you get it from.  People can certainly have reasons for preferring one source over another.  myFICO provides access to additional scoring models whereas other services may only provide FICO 8's.  If that matters then one could prefer myFICO.

Just as with card recommendations, you need to provide your requirements for feedback.

---

@Anonymous wrote:

Also, I think I would want rewards, since my Cap1 QuicksilverOne is cash back....so I think it would make sense to diversify a bit, right?

---

Not necessarily.  Don't just assume that having a cash back card means that you should then get a points/miles rewards card.

It doesn't make sense to spread your spend over different rewards programs if it means that you'll accrue rewards too slowly.  This is why you need to run the numbers for your spend.  Not only do you want to know how much MR points will be based on the redemption method(s) you use but you also want to know how quickly you'll acrrue MR points to redeem.  How long will it take you to reach the number of points needed to redeem?

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Super helpful, thank you!! I appreciate the insight. I may have gotten a bit ahead of myself in the beginning, and am starting to really look at my spending habits and what my needs actually are, to figure out which card is best for me and will give me the biggest return. 

[advocate1]

Your stated scores are slightly better than mine, and I got approved for BOTH the Blue Cash Preferred and the Everyday Preferred. Combined limits of $10,000. One big piece of advice: Don't do multiple apps to AMEX on the same day. Their computer system is only set up to accept one application per day. They don't mind you having multiple cards, but multiple applications in one day will slow things down. When I got the "in progress" message for the Everyday Preferred, I called in and the CSR said "Let the computer system catch up to you". That was on 12/29/15. I logged in today (1/4/16) and saw "approved". Both were auto approvals. Also, AMEX (at least in NY) only pulls Experian.

As of 1/4/16:

EQ 687, TU 647, EX 694.

Total non-store lines - $31,000

Utilization - 35%

High individual limit - $7,000 (AMEX Everyday) - Essentially no different than a VISA Signature

At this point, the goal is 720+ with all 3 bureaus, and just go for auto CLI's once every 6 months. A couple banks SP for CLI's so no damage to score. Additional applications prior to 720 across the board would accomplish nothing.