Question about AMEX Cards among other cards?

[iNathanDrake]

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@DoroLucky wrote:

I suggest STOP coming on here if you want to keep it at 2 - 3 cards LOL. Anyway welcome!!

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LOL let's see what happens haha

[myjourney]

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@iNathanDrake wrote:

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Haha, alright I'll give it a shot and try not using my debit card. So as an example, since you said to pay it off in full monthly. I get paid weekly, and generally like to make my payment at the end of that week. Is that bad? No this is not bad at all

If this is how you're comfortable paying your bills then by all means continue to do it this way

Is it better to allow the month to add up and just pay it at the end of the month? Optional but I think you mentioned carrying balances on other cards so treat this card as a debit card and pay it off ........or pay off all others and since this has a $0% period use the free money but DO NO GO INTO DEEP DEBT...have a plan

And if so, does that mean I should just let all of my money sit in my bank account until its payment time? If you have a interest bearing account why not let the money sit but again it all depends on what process you feel comfortable with as to when you pay your bills off 

Some of us pay monthly others weeky, every 5 days,10 days......whatever works for you.

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Alright that sounds good I can see how it would mutually benefit interest in a bank account and still paying off your debt just on a monthly rather than a weekly. Thank you for that lesson. I do have a 0% interest on it as you stated and I will start using it for regular purchases like grocery shopping, gas, lunch and small spoils. I don't intend to make any big purchases or get into crazy debt at all. And I will be able to pay off my other cards once I've finished helping my mother. 

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Bravo well said 

FYI and if you have to make a large purchase TV, computer, (electronics) put it on your Amex it has a great extended warranty and if it's a lemon Amex has your back they don't play Lol

Welcome to the forum

[DoroLucky]

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@myjourney wrote:

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@iNathanDrake wrote:

Thank you for the quick answers, I generally pay for my groceries, gas, etc with my debit card when I had the funds available. IF not i'll plan out what I need, charge it on one of my cards, and when I get my pay check, pay it off immediately. I don't know how bad or good that is? I guess I just feel, if I can pay for it, don't use someone else's money. Is that a bad mind set? Thanks!

The AF wasn't the biggest issue, so much that I wanted to keep my credit cards from bigger better known creditors. I'd rather see Chase then Credit One, I'd rather see Capital One, than seeing Milestone. I don't mean it to sound pretentious or anything, just personal preference. And as far as annual fee's, I don't know much about making use of your credit card benefits outside of just putting it towards balance payment. So I don't know how I feel about paying annual fee's and not taking advantage of what I'm paying for, because of this reason I tend to stick to No AF cards.

I am going to call Amex's Line increase line during my lunch break to explore the options the rep had suggested. Will post here to update within 2 hours!

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Stop 

Ignore the CSR and what they told you about a CLI =HP

I'll edit this post in a minute with more info 

And stop using that debit card today Lol

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I swear RED is my favorite color ever and you sound like a parent taking thier their kids in your responses ....not a bad thing tho . Oh and I stopped using my debit period! Was using it all last year after I having, CC's not again. And I get so irritated if I have to pay cash now 

[iNathanDrake]

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@myjourney wrote:

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@iNathanDrake wrote:

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Haha, alright I'll give it a shot and try not using my debit card. So as an example, since you said to pay it off in full monthly. I get paid weekly, and generally like to make my payment at the end of that week. Is that bad? No this is not bad at all

If this is how you're comfortable paying your bills then by all means continue to do it this way

Is it better to allow the month to add up and just pay it at the end of the month? Optional but I think you mentioned carrying balances on other cards so treat this card as a debit card and pay it off ........or pay off all others and since this has a $0% period use the free money but DO NO GO INTO DEEP DEBT...have a plan

And if so, does that mean I should just let all of my money sit in my bank account until its payment time? If you have a interest bearing account why not let the money sit but again it all depends on what process you feel comfortable with as to when you pay your bills off 

Some of us pay monthly others weeky, every 5 days,10 days......whatever works for you.

---

Alright that sounds good I can see how it would mutually benefit interest in a bank account and still paying off your debt just on a monthly rather than a weekly. Thank you for that lesson. I do have a 0% interest on it as you stated and I will start using it for regular purchases like grocery shopping, gas, lunch and small spoils. I don't intend to make any big purchases or get into crazy debt at all. And I will be able to pay off my other cards once I've finished helping my mother. 

---

---

Bravo well said 

FYI and if you have to make a large purchase TV, computer, (electronics) put it on your Amex it has a great extended warranty and if it's a lemon Amex has your back they don't play Lol

Welcome to the forum

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Thank you and everyone else so much for all the guidance! I'm feeling much better about my card and my future with my credit journey xD I will keep my Amex and watch it grow over time. I look forward to the 61 days passing too haha! In those 61 I plan to have all of my other cards Utilization between 0 and 15%. And I'll be smart with and take advantage of my 0% interest grace period with my Amex as well. 

[All4One]

Your average age of accounts.  Everytime you open an account it lowers that average.  Obviously higher is better (within reason).

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@iNathanDrake wrote:

What does AOA stand for? Sorry I'm not familiar with it. And I appreciate the advice. I intend to keep it open and work my way up with it. I won't apply for anymore more cards I consider "bad" either so I'll be sure to not hurt my score in that aspect anymore.  

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[DoroLucky]

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@iNathanDrake wrote:

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All4One wrote: 

For some general advice, you may want to re-read the items that make up your credit score.  Closing cards (even perceived "bad" cards can hurt your AOA.  

And good luck with your credit adventure! 

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What does AOA stand for? Sorry I'm not familiar with it. And I appreciate the advice. I intend to keep it open and work my way up with it. I won't apply for anymore more cards I consider "bad" either so I'll be sure to not hurt my score in that aspect anymore.  

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I think the poster meant AAOA= Average Age of Accounts

[Appleman]

Welcome to the forums.

Keep the AMEX and as other say and do the 3X CLI at 61 days, there are quite a few threads about the process.

Have you subscribed to any of the free credit monitoring services? I suggest Credit Karma and Credit Sesame. They do not provide your FICO score but the Vantage score which will likely differ greatly so do not be worried if you see a score that seems off.

Another thing, don't get worried about a big credit limit currently. At you age a $30,000 credit line would have been more than I could have handled. Personally, it has taken me decades to get to the point where I can manage my current credit lines. And there are days where I still have to talk myself down!

I usually pay my balances every 2-3 days and I look at my YNAB budget daily. It helps my wife and I make responsible decisions with our money.

Good luck and welcome to the forums.

[All4One]

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myjourney wrote: 

I have to now grade you for your research on the product before you applied  D-

All hope is not lost if you keep your emotions out of the equation and except the makeup paper due in 62 days 

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Had to log back in to rep this! lol

[DoroLucky]

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@iNathanDrake wrote:

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@DoroLucky wrote:

I suggest STOP coming on here if you want to keep it at 2 - 3 cards LOL. Anyway welcome!!

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LOL let's see what happens haha

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I'm telling you, stick around any longer and you'll turn into an app/credit junkie like the rest of us 

[myjourney]

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@DoroLucky wrote:

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@myjourney wrote:

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@iNathanDrake wrote:

Thank you for the quick answers, I generally pay for my groceries, gas, etc with my debit card when I had the funds available. IF not i'll plan out what I need, charge it on one of my cards, and when I get my pay check, pay it off immediately. I don't know how bad or good that is? I guess I just feel, if I can pay for it, don't use someone else's money. Is that a bad mind set? Thanks!

The AF wasn't the biggest issue, so much that I wanted to keep my credit cards from bigger better known creditors. I'd rather see Chase then Credit One, I'd rather see Capital One, than seeing Milestone. I don't mean it to sound pretentious or anything, just personal preference. And as far as annual fee's, I don't know much about making use of your credit card benefits outside of just putting it towards balance payment. So I don't know how I feel about paying annual fee's and not taking advantage of what I'm paying for, because of this reason I tend to stick to No AF cards.

I am going to call Amex's Line increase line during my lunch break to explore the options the rep had suggested. Will post here to update within 2 hours!

---

Stop 

Ignore the CSR and what they told you about a CLI =HP

I'll edit this post in a minute with more info 

And stop using that debit card today Lol

---

I swear RED is my favorite color ever and you sound like a parent taking thier their kids in your responses ....not a bad thing tho . Oh and I stopped using my debit period! Was using it all last year after I having, CC's not again. And I get so irritated if I have to pay cash now 

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Lol

Sometimes you have to accent to illustrate the meaning (WOOO,STOP, ASAP) etc etc 

In your case since I know you know better as far as your debit card....CUT IT UP YOU'VE BEEN WEANED OFF THAT LONG AGO...

ROFLOL