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Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008
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I think I made a mistake for applying for Amex card.

Last night I called and asked for an increase on my chase card and it was approved. Feeling good about that today I got the stupid idea to go for a new amex card. I was instantly approved for the card. I am for some reason feeling guilty about getting the card. I know that amex is not a very good card to get in this economy. How should I start using the card to not cause any AA.

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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: I think I made a mistake for applying for Amex card.


crosbyk1 wrote:
Last night I called and asked for an increase on my chase card and it was approved. Feeling good about that today I got the stupid idea to go for a new amex card. I was instantly approved for the card. I am for some reason feeling guilty about getting the card. I know that amex is not a very good card to get in this economy. How should I start using the card to not cause any AA.

Congrats, hope you stopped puckering up, what'd you get? :smileyvery-happy:

IMO, all you can do is all you can do. Treat it as you would any other card. Use it for things that make sense to you. If there is anything to the tales of "first-use" charges, take someone out to eat at a nice place for the first time. Don't carry balances; don't call them up whining or begging or challenging; let them know if you're going out of town.

I do acknowledge that there are many reasons to be wary of AmEx. But when I look back on it, they were just the leader in AA. Plenty more banks have done it since. Treat the account responsibly, as you would with any other account, and keep your credit diversified with good TL's from other banks, so if AmEx weirds out on you, you can just shrug and move on.
* 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
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crosbyk1
Posts: 485
Registered: ‎02-17-2008
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Re: I think I made a mistake for applying for Amex card.

Thanks for the kind words. I got the gold rewards card.

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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: I think I made a mistake for applying for Amex card.


crosbyk1 wrote:
Thanks for the kind words. I got the gold rewards card.

Oh, that's a great card! That's what I started with.

Use the fire out of it in the first year, if you got the double points deal. Also, check out the bonus points mall. I wouldn't touch anything with less than 3 points, but if you have females in your life who have birthdays, etc., those 10x points from the florists will make you look good. :smileywink:

When my Gold was 11 months old, I app'd for a Blue, and then I canceled the Gold the next month before the annual fee posted. The Blue shows the month of application (February) and the year that I got the Gold (2008), so it appears on my reports as being a month older than my Gold. Yes, I had a hard on EX for it, but there was no new account ding, and the Blue doesn't have an annual fee, so I'm pretty happy.

I treat AmEx as a very interesting but particularly tricky date. Lots of potential for good times, but lots of potential for excessive drama. If you have an exit strategy, you'll be fine.
* 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
Super Contributor
concorduser
Posts: 6,025
Registered: ‎09-18-2007
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Re: I think I made a mistake for applying for Amex card.

Congrats on the new Amex card. Dont be nervous with the card. Just use it like any other card and just pif when the statement cuts. What evevr happens let it happen. I had long love hate relationship with Amex and I am treating my Amex Business Platinum Card like any other business card.

Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
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Re: I think I made a mistake for applying for Amex card.

Congrats on the AMEX card.
Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008
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Re: I think I made a mistake for applying for Amex card.

Thanks

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creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: I think I made a mistake for applying for Amex card.

Congratulations!

 

I would give my eye teeth for an AMEX card. If I could get it reaged to 1978 and reported as such wouldn't care if I had to close it the next day! Unfortunately I may be on the permanent "S" list in AMEX-land. Good enought to get back in with all but them. (I backdoored my way into Chase so who knows about them.)

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crosbyk1
Posts: 485
Registered: ‎02-17-2008
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Re: I think I made a mistake for applying for Amex card.

Is Amex harder then chase?

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smallfry
Posts: 4,831
Registered: ‎04-20-2007
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Re: I think I made a mistake for applying for Amex card.

AMEX is the trophy wife. You done good.

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