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Regular Contributor
beautybrainsbooty
Posts: 212
Registered: ‎08-02-2012
0

Re: why does everyone want an AMEX?

@james ok heres my problem. My EX isnt good data and my score is in the toilet with them (based off of  a decline that use EX and see my signature) Apparently experian hates me-truly. They are only reporting two very old credit lines and one is negative. I had a recent rant on here about it and now I have frozen my file until I figure out what to do.  Would AMEX pull EQ or TU or purely EX?

started mid 500's. Disputed incorrect items and within a month or two my scores have skyrocketed and continue to do so
EQ: 755 as of 8/2013
TU: 700
Experian(or as I call them, the devil) I have no clue, they haven't released my report
Goal=801 across the board!!! Not too far from this, hoping to garden until Christmas 2013
Valued Contributor
jamesdwi
Posts: 1,553
Registered: ‎09-16-2011
0

Re: why does everyone want an AMEX?


Simple answer is to put AMEX on hold, Ap for Chase Freedom or other prime card, let them report, call up your other card companies and request that they report to EX, in a few months Your EX will clear up and you will be good to go, with a little luck maybe before christmas. Then you will be good to go. 

 

AMEX is conservative enough that they don't like changing from there routine for non-members once you are a member they will do a lot more, but still underwriters are different than the standard CSR's 

 

 

 

 


Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Regular Contributor
beautybrainsbooty
Posts: 212
Registered: ‎08-02-2012
0

Re: why does everyone want an AMEX?

@james ohhhhhhhhhh it is so nice to have members in the forum with experience. Thanks so very much! I am going to wait. Christmas time should be absolutely wonderful around here lol. Thanks again :smileywink:

started mid 500's. Disputed incorrect items and within a month or two my scores have skyrocketed and continue to do so
EQ: 755 as of 8/2013
TU: 700
Experian(or as I call them, the devil) I have no clue, they haven't released my report
Goal=801 across the board!!! Not too far from this, hoping to garden until Christmas 2013
New Contributor
LilNYC
Posts: 184
Registered: ‎07-08-2012
0

Re: why does everyone want an AMEX?

 

@james ok heres my problem. My EX isnt good data and my score is in the toilet with them (based off of  a decline that use EX and see my signature) Apparently experian hates me-truly. They are only reporting two very old credit lines and one is negative. I had a recent rant on here about it and now I have frozen my file until I figure out what to do.  Would AMEX pull EQ or TU or purely EX?

------------------------------------------------------------------------
OP, if you app for an Amex they're going to tell you to unfreeze EX. My EX was frozen when I apped fir the Zync online & I got a msg that I needed to call in inorder for Amex to process my app. When I called the csr said my EX report is frozen & I either need to give him the pin so he could pull the report or unfreeze it. I asked if he coukd just pull one of the other reports & he said no. So I called the exec office & they basically told me the same thing. Had no choice & I had to temp unfreeze my EX report if I wanted an Amex.
 
As far as why I wanted an Amex:
1) hands down the best cust service/ most painless process for disputing charges(amex almost always sides w/ the cardmember over the merchant)
2) extended returns- 90 days to return things even if the store has a crappy 7 day exchange only policy 
3) rewards- 6% cash back on groceries, 3% cash back at Bloomingdales 
4) 10 yrs of backdating for me which helps my AAoA & mitgates the damage done by opening 3 new TL's
5) SP if I'm denied for future cards/apps
6) great CLI policies- 61 days 3x SP 
7) 0 apr on purchases for 12 months (prob won't take adv of it though since I want a CLI is 61 days)
8) high purchasing power should I need it (on my Zync, significantly higher than my highest CL)
 
 
The bad:
1) 2.7% foreign exchange fee
 
The Neutral:
1) extended warranty- most cc companies offer this now (Citi, Chase, etc.) so not really a plug for me
2) lost baggage/car rental insurance/ travel ins, etc.- My Citi Thank You offers more travel insurance benefits so wasn't a plug for me but if you don't have other cards that offer this then Amex is appealing
Citi Thank You $13,200 - Chase Freedom $3,100 - AMEX Zync NPSL (init. ability $17.5K) - Citi Forward $7,000 - AMEX BCP $6,000 - USAA Rate Adv $15,000 - USAA World MC $12,000 - Discover More $4,000 - Amex Hilton Honors $4,500 - Amex SPG $2,000 - Barclay's Priceline Rewards $6,400 - Chase Sapphire Pref. $7,500

EQ: 794. TU: 704. EX: 755
Member
Quizzle23
Posts: 22
Registered: ‎08-28-2012
0

Re: why does everyone want an AMEX?


beautybrainsbooty wrote:

hey ya'll im curius as I build my lineup of CCs...why does everyone seem to want some sort of AMEX card? is it the rewards or more of a status thing? Or does it look good on your CR? 


I want one b/c its an AMEX!!!!!! I am a status baby and to be honest when I get one I will use it just enough get benefits but to stay out of trouble. lol :smileyhappy:


Starting Score: Aug 2012: TU 747, EX: 664, EQ: 649
Current Score: Aug 2012: TU 747, EX: 664, EQ: 649
Goal Score: ALL AT 750-800

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CUR Visa Platinum-3k, NFCU Visa Sig- 17.5k, BestBuy-1.5k
AFW- 3.2k, Express- 1.5k, Macys- 2k, Vickies-2k
Frequent Contributor
codimom
Posts: 386
Registered: ‎09-08-2010
0

Re: why does everyone want an AMEX?

I am a new AMEX BCE holder. I got mine in June of this year.  I applied only after reading on this forum!!! I'd had such bad credit for so long I didn' think any prime card/lender would look my way.  but i bought a new car in June.. and got a kick ass interest rate.. so I thought I'd give it a try. Now, I didn't get the best terms,but I did get approved!  I'm still kinda shocked... and I was kind of naive, since I went straight for the BCE revolver instead of the charge cards!

I wanted an AMEX because when I was younger, it was THE card to have, and I've had my corportate card for 8 years (no backdating for me) and I just wanted to have one of my own!  Now, if y'all can keep your fingers crossed, I'm going for my first CLI next week on my AMEX.


Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13


Frequent Contributor
Razeus
Posts: 387
Registered: ‎04-02-2012
0

Re: why does everyone want an AMEX?

[ Edited ]

I use to admire my uncle's "green" AMEX when I was growing up.  Always thought it had a cool look.  I just remember him saying "these are given to people responsible with their money".  I was like 12 or 13 at the time, but it stuck with me.  


Have they lost much of their luster or prestige?  Perhaps, but that's because there are SOOOOOOOOOO many cards given out these days with all kinds of "benefits" to differentiate themselves. 

My Wallet:
Discover It $11,000 | Chase Freedom $5,000 | AMEX BCE $3,000 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
New Contributor
ItchyAppFingers
Posts: 96
Registered: ‎07-31-2012
0

Re: why does everyone want an AMEX?

For me it was all about the status and getting my foot in the door with a top/popular prime lender and just the accomplishment overall of being an Amex card holder.... After trying several times (apping).... Finally the day came when Amex finally let me in through there doors. (They probably got fed up with all my apps for their cards thats probably why they gave me a chance somehow.)LOL :smileytongue:
My Current Plastic: {Amazon Store Card} {Amazon Visa} {Amex Zync} {Amex Gold PRG} {Amex BCE} {Bloomingdales} {BOA 123 Cash Rewards} {Capital One Platinum Visa} {Chase Freedom Visa} {Discover IT} {Kohls} {Macy's} {Nordstrom} {SonyCard Visa} {Target RedCard}
Established Member
Radio_Radiation
Posts: 54
Registered: ‎07-10-2012
0

Re: why does everyone want an AMEX?


tinuviel wrote:

Razeus wrote:

beautybrainsbooty wrote:

backdating?? explain please...


Apparently it let's you have the date of your very first AMEX card when you sign up for new cards from them.  That way it looks like an "old" account on your credit report and helps out your credit score in the area of "average age of account (AAoA).  So if you have a card from 1990, and you get a Blue card in 2012, AMEX will back date that Blue card to 1990, giving you an instant 20 year history...I'm surprised CRA's haven't caught on to this.


 

Exactly. That was a major aspect of the appeal for me. I got my first Amex back in 1987, so when I got back in their good graces and got my Green last year, they reported based on my original member date. That added a TL with 24 years worth of age in one fell swoop! So, a lot of people like to establish a membership with Amex at some point in time, knowing that if they ever decide to add another Amex TL at some point in the future, it will help instead of hurt their AAoA.

 


AmEx backdate their cards because they don't have "customers", they have "members".  You've been a member since whatever date you received you first card.



Fako Ex: 743, Fako Eq: 734 Fako TU: 748
I'm BACK in the Garden (App free since 01/02/2013)

Senior Contributor
drkaje
Posts: 3,489
Registered: ‎07-25-2008
0

Re: why does everyone want an AMEX?

Before they watered down the brand with tons of different products Amex was the "I've arrived" card. Now it's really about brand recognition and backdating.

 

There are more difficult cards to get than Amex. A PenFed Gas card says much more about one's financial management/health than an Amex.

 

I have a BCP and Delta. Good cards. Amex CS is typically very good, unless you're talking about their credit reporting division. :smileyhappy:


Starting Score: 675
Current Score: EX 754 FICO, EQ 737FICO
Goal Score: 776 FICO


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