Wise Spending

[laboi_22]

Interesting question. I just got approved for my first AMEX and a previous post mentioned that I should use it wisely. Any suggestions, tips, comments regarding the use of a new AMEX Green card that I should be aware of? I'm really excited about this card and I really want it to be my primary. I understand the whole FR thing that might come up later on but any advice on what looks bad when you first activate and begin use of the card in the way of purchases? Should I use it to pay all my reoccuring bills? Should I just use it a little at first? Any suggestions would help!

Thanks,

[Creditaddict]

Congradulations on the new Amex... I don't want to rain on that parade or any questions you have... YAWN... It is a credit card, they love for you to use it and if you can afford it they would love for you to charge 100 million dollars a month because they are making 3.25% from the merchants you are using your card at... Go to town, if they feel you are getting a little ahead of yourself they will call you or block your card, you call in and they will say "hey you are at 5k, and that is your internal limit right now, could you make a payment" if you have online account with them and you load at least 1 checking then it's super easy... oh no problem you can schedule the payment for Thursday the 2nd in the amount of 5k... thank you card member I have scheduled this payment and I have unlocked your account... it is ready for you to charge on.

If you get an amex and you are afraid of FR or afraid of being declined and you end up using some non reward card instead just to avoid "the embarrassment" of a decline then what's the point of getting the card at all...

anyway, again just my point of view and I think 1 bad exerience (I know way more than 1) but I'm saying I think some of these threads get a little carried away and scare new credit builders into not taking advantage of paticular accounts to the fullest because of the tails of certain accounts or banks.

[Wolf3]

IMO, If you want it to be your primary card, use it for everything.

[Meltdownblitz]

If I were you I'd go easy for the first few months, (depending on your stated income). Charging too much even though YOU know YOU can pay it, AMEX doesn't know you, if you spend too much in your first month with them, chances are they will do a FR on you which isn't really a problem but just saying. Just to not scare them, I'd go easy, maybe under 1k until you build a relationship with them at least for 2-3 months. Then spend away. I'm telling you this from experience. Enjoy your new card and congrats!

[Walt_K]

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@Creditaddict wrote:

Congradulations on the new Amex... I don't want to rain on that parade or any questions you have... YAWN... It is a credit card, they love for you to use it and if you can afford it they would love for you to charge 100 million dollars a month because they are making 3.25% from the merchants you are using your card at... Go to town, if they feel you are getting a little ahead of yourself they will call you or block your card, you call in and they will say "hey you are at 5k, and that is your internal limit right now, could you make a payment" if you have online account with them and you load at least 1 checking then it's super easy... oh no problem you can schedule the payment for Thursday the 2nd in the amount of 5k... thank you card member I have scheduled this payment and I have unlocked your account... it is ready for you to charge on.

If you get an amex and you are afraid of FR or afraid of being declined and you end up using some non reward card instead just to avoid "the embarrassment" of a decline then what's the point of getting the card at all...

anyway, again just my point of view and I think 1 bad exerience (I know way more than 1) but I'm saying I think some of these threads get a little carried away and scare new credit builders into not taking advantage of paticular accounts to the fullest because of the tails of certain accounts or banks.

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+1.

Completely agree that if it is going to be your primary spend card, just use it that way.  Don't agree at all with taking it easy for the first few months.  Just carry a backup method of payment if you're worried that they are going to cut off your card or do an FR.  I think the chances of an FR are way overblown anyway, but if you are really worried about it, and you would refuse to give them your taxes if they conducted one, perhaps you should take it slow.  Otherwise, who cares.

[Creditaddict]

agree, only if you are worried about passing an FR, CHARGE CHARGE CHARGE (oh and carry that back up card, so you can pay and go talk to amex in the car).

Maybe it's because I have traveled so much and had to charge large amounts and constantly have had cards cut off that I will gladly let the cashier know just put my transaction on hold and step off to side or just outside and make the phone call and come back and hand them the card again! We did have a crash in credit and economy, you are not going to find someone that swipes cards all day long for work say omg I have never had a customer with a card decline! The only time I will not make people wait while I call creditor is at a restaurant.

When I first started my business and we added a Gold Charge to the (1 personal charge and 3 personal credit cards and 1 business credit card) This was in 2006, been a cardmember since 2000. The first probably 6 months I received letters or phone calls or Fedex sending me an e-mail that the card was declined.  Quick call to Amex and they would ask me if I could make mid month payment and they would unlock and raise my "internal limit a little more" at some point they said "Maybe" you could get your limit raised much higher faster if you wrote in to credit... I did that, no one contacted me, I got no letter from amex telling me no or yes but I never had a problem passing 3k again...actually went all the way to 15k/month shortly after that.

Amex has the best customer service, and they can unlock you in a second if you just call and say hey i was declined what's going on.

[haulingthescoreup]

Use it, pay it, use it, pay it, use it, pay it.

Don't carry a balance, even if they offer to let you do so.

Don't play games with it in an attempt to manipulate your CL. Let them raise your CL on their own timetable.

It's a perfectly good card. I've never had anything but excellent service from them.

eta: and oh, yes, carry another card, too. And this is something that everyone should do, no matter what card they use.

[IowaGuy]

Use it as you normally would. if Amex has issues, then you arnt a good fit for each other, replace em.

[laboi_22]

Thanks for your ideas and suggestions! I think I will use it as I normally would. Since I didn't fudge my application I've got nothing to hide in the case of the dreaded FR. Hopefully still that doesn't happen to me!