Should i settle for Green or go all out for PRG?

[learningcredit101]

I am contemplating on applying for my first AMEX soon (just waiting for next statement to report to bump my score), and i am debating on one thing. Should i apply for the green and gradually get an invitation for the PRG, or apply for the PRG? The reason i say this is because i only make 33k a year and i heard that for the prg you need around 50k to be approved. My ex score is 745, but im only 20 and have an AAoA of 1.3.

[j_casteel]

IIRC, the underwriting is the same for all of the charge cards. Go for the one you want and not settle for the Green.

[Exonumist]

PRG. They have the same approval criteria. Get the sign up bonus and if you don't use the card enough to justify the annual fee downgrade to Green in a year.

[Stralem]

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@learningcredit101 wrote:

I am contemplating on applying for my first AMEX soon (just waiting for next statement to report to bump my score), and i am debating on one thing. Should i apply for the green and gradually get an invitation for the PRG, or apply for the PRG?

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PRG. Better rewards, and the $175 fee is waived for the first year.

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@learningcredit101 wrote:

The reason i say this is because i only make 33k a year and i heard that for the prg you need around 50k to be approved.

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Hahahahahaha... What the hell?

Dude.

I got my PRG with a reported income of $29k.

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@learningcredit101 wrote:

My ex score is 745, but im only 20 and have an AAoA of 1.3.

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The charge cards, from the green to the platinum, can be obtained with scores much lower than that. We're talking sub-650.

With your scores, you have a good shot at qualifying for a revolver of your choice.

[bobbay]

Go for the Gold!  Never settle

[Legen_dary]

Go for the PRG, if you go for the Green, you won't be able to upgrade for 13 months! I've spent almost $25k on my green this year and no invitation to upgrade from AmEx... oh well only 2 more months for me. Though I'm probably going to apply for an Everyday Preferred at this point. More MR points than PRG... plus upgrading won't get me any bonus points.

[B335is]

Agree with others.  Underwriting is the same, no-brainer - go for PRG.

[learningcredit101]

One more question. Will american express decline a transaction if they see that im spending too much keeping in mind what i make? I ask this because i plan on letting my parents use it as well for gas and groceries, and they will pay me when the statement is due.

[Creditaddict]

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@learningcredit101 wrote:

One more question. Will american express decline a transaction if they see that im spending too much keeping in mind what i make? I ask this because i plan on letting my parents use it as well for gas and groceries, and they will pay me when the statement is due.

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If your AU make your spending exceed your income there is a better chance for Amex to FR to see exactly what your income is on your taxes and then based on that set a hard limit for you.

I'm usually the last person to even think about FR's and scare someone about it but AU use that exceeds your own use seems to be a far more likely to FR then your own actual spending (my partners cards were FR'd because of me as AU spending that's why I mention it... now if you are talking about say $1k spending from both parents a month or something I probably wouldn't worry about it, if we are talking $5k might have an issue!

[learningcredit101]

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@Creditaddict wrote:

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@learningcredit101 wrote:

One more question. Will american express decline a transaction if they see that im spending too much keeping in mind what i make? I ask this because i plan on letting my parents use it as well for gas and groceries, and they will pay me when the statement is due.

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If your AU make your spending exceed your income there is a better chance for Amex to FR to see exactly what your income is on your taxes and then based on that set a hard limit for you.

I'm usually the last person to even think about FR's and scare someone about it but AU use that exceeds your own use seems to be a far more likely to FR then your own actual spending (my partners cards were FR'd because of me as AU spending that's why I mention it... now if you are talking about say $1k spending from both parents a month or something I probably wouldn't worry about it, if we are talking $5k might have an issue!

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Since you mentioned the financial review, will they fr me if i spend more then what i make? I recently got a promotion at my job and now make significantly more than i used to, so if they fr me then i would have to send the tax forms which say i make 10000 dollars less thwn i do now. So on the app should i put my old or new income?