cancel
Showing results for 
Search instead for 
Did you mean: 

Green/Gold Amex Charge Cards

tag
smallfry
Senior Contributor

Green/Gold Amex Charge Cards

I have checked their website monthly for the past two years. Don't know why really but at any rate I see I am now pre selected for their Gold and Green charge cards. One has an annual fee of 95 the other 125. My BK7 drops in 2 months. Typically what kind of limit do they set on these cards? Might bite might not. How do these cards report? Will they report nearly 100% utilization for the first few months?
Message 1 of 8
7 REPLIES 7
llecs
Moderator Emeritus

Re: Green/Gold Amex Charge Cards

Congrats! The same happened to me last summer. I fell out of my seat. Despite all the bad things said about Amex, I felt that I hit a credit nirvana.

 

I had been pre-selected for their Green, Gold and Platinum. I figured I could upgrade at a future date so I chose the Green. The decision was instant. My first purchase attempt foolishly was season tickets for a major sports team for over $2k. The charge was denied and I called Amex. I read in here that they have a magical limit and I inquired with them what that limit was. The CSR was friendly and she said that $500 was the max to start, but that they'd raise that ceiling by up to 1.5 times based on my spending habits, purchases, etc. I started spending and increased my habit each month. After 6-7 months of having the card, I already put on over $3000 in a single month without any issues or problem. In the beginning I set off a few red flags though. I have a detailed thread in here of what I put on by month through last month.

 

They don't report a limit. Your EX and EQ FICO scores wouldn't be phased if you put $0 on the card or if you hit your spending record on that card. The balance isn't factored into your FICO score. However with TU, specifically TU98 like found on here, your FICO reads the balance and the "high balance" or "limit". So initially as your magical limit increases, and assuming you use every bit of it, your TU 98 FICO score will take a hit.

Message 2 of 8
smallfry
Senior Contributor

Re: Green/Gold Amex Charge Cards

Now I see why I was pre selected. Experian deleted my BK a couple of months early. Bit for an EX Vantage. Score went from 793 to 926 with the BK now gone.
Message 3 of 8
haulingthescoreup
Moderator Emerita

Re: Green/Gold Amex Charge Cards


llecs wrote:

...My first purchase attempt foolishly was season tickets for a major sports team for over $2k...

"Major," huh? Smiley Wink
* 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 8
haulingthescoreup
Moderator Emerita

Re: Green/Gold Amex Charge Cards


smallfry wrote:
Now I see why I was pre selected. Experian deleted my BK a couple of months early. Bit for an EX Vantage. Score went from 793 to 926 with the BK now gone.

Double congrats, then!
* 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 5 of 8
llecs
Moderator Emeritus

Re: Green/Gold Amex Charge Cards


haulingthescoreup wrote:

llecs wrote:

...My first purchase attempt foolishly was season tickets for a major sports team for over $2k...
"Major," huh? Smiley Wink

Yaaay! There's at least one team that was worst than us! Wooohooo!

Message 6 of 8
TangMeister
Frequent Contributor

Re: Green/Gold Amex Charge Cards


@smallfry wrote:
Now I see why I was pre selected. Experian deleted my BK a couple of months early. Bit for an EX Vantage. Score went from 793 to 926 with the BK now gone.

Congrats on the preapproval and early BK drop!  Vantage Score was docking you 133 points for a near 10 year old BK 7?  Wow...that's amazing.

Message 7 of 8
Itsmeagain
Established Contributor

Re: Green/Gold Amex Charge Cards

If you're not concerned about points but just want an Amex card, consider the new Zync.  Annual fee is only $25 and according to the CSR, the limits are the same.

Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


Take the FICO Fitness Challenge
Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.