Is AMEX Gold Card a step inside?

[Anonymous]

I don't qualify for a regular credit card but I have received an offer in the mail for the green card a week ago and the gold today. It doesn't quite make sense to me because nothing was different on my report for both offers. I would eventually like to get an AMEX Everday card. I have only one capital one card and only qualify for other capital one products. Should I consider getting the gold charge card? Will having it improve my odds for their credit card?

[creditguy]

When you say you don't qualify for a regular credit card why is that? If you have something preventing you from obtaining cards right now then being approved for a Amex charge is unlikely as well.

Getting a charge card will demonstrate ability to manage credit with Amex providing its managed properly, but ultimately will not dictate approvals for their other cards, your overall profile and scores will make that decision. I also would not waste my time with a card that has an AF if the card is of no use to me. What's your current EX score and what baddies if any do you have?

[Anonymous]

I have student loan baddies that are less than a year old. I guess I figured since they are sending me these offers that I would probably be approved. Then if I have their charge card, maybe my good payments will get me into a credit card sooner. Lol, trying to strategize! I'm just glad they are sending me stuff. I mean..that's gotta mean something right??

[pizza1]

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@Anonymous wrote:
I have student loan baddies that are less than a year old. I guess I figured since they are sending me these offers that I would probably be approved. Then if I have their charge card, maybe my good payments will get me into a credit card sooner. Lol, trying to strategize! I'm just glad they are sending me stuff. I mean..that's gotta mean something right??

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Yes, the charge card is most definitely an in.  The charge cards are a PIF with each statement, unless you are offered a "pay over time", on the charge card, but you usually some history first before you get those offers.

So, first...id GW those lates, and keep GWing them until you can get them off your reports. In the meantime...go to the Amex site, and check for preapproved offers, and see if the charge cards appear. If so...and it says congrats we found a card, or some like that more definitive, not just , were sorry we didnt find an offer, BUT we reccommend these.....then go for it.

After having the charge card for awhile, and you develop usage/payment history with them, youll get a revolver. Good luck 

[Anonymous]

Sometimes material in the mail is just marketing and doesn't match up with what you'd actually be approved for. I'd tread lightly but if you do end up being approved and having a good history of payments, I'm sure that will go far with Amex in terms of CC approval..

[Anonymous]

My first Amex was the regular Gold card.  Had it for a couple years and got the "Pay over time" offer.

Then they offered to upgrade it to a Plat.

Just like any bank, Amex likes to see history.  A charge card is definately different as there is no option to carry a balance - demonstrates responsible behavior with credit.

In my opinion, it is a good card but don't get it if you a) can't PIF every month or b) don't want to pay the annual fee.

[longtimelurker]

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@Anonymous wrote:

My first Amex was the regular Gold card.  Had it for a couple years and got the "Pay over time" offer.

Then they offered to upgrade it to a Plat.

Just like any bank, Amex likes to see history.  A charge card is definately different as there is no option to carry a balance - demonstrates responsible behavior with credit.

In my opinion, it is a good card but don't get it if you a) can't PIF every month or b) don't want to pay the annual fee.

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The regular gold doesn't get much love around here (for good reasons IMO!).  The PRG is a much better choice, and the gold offers very little extra over the green (which is also  not great).

I'm of the school for waiting for the card you actually want, rather than getting one you don't to get "in".     It's not as if Amex credit cards are hard to get with no Amex history once scores and reports are OK.    I remain unconvinced that getting a charge and using it particularly accelerates the process.