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New Contributor
howardi
Posts: 64
Registered: ‎04-30-2007
0

Re: How does Amex work?

Will heed whatever advise regarding AMEX..Do not plan on abusing these AMEX cards...Was a credit delinquent for years until I dug myself out of the hole and do not plan on going in that mess again---ever!!
 
My Amex Cards:
 
Gold
Simply Business
Blue
 
 
Thanks very much peeps.
Visitor
Rensalier
Posts: 1
Registered: ‎05-01-2007
0

Re: How does Amex work?

Have been an AMEX member since 1980. Started off with the blue card when I was traveling for business. Got stranded in San Diego because there was "no preset spending limit". Had to borrow money from my father in law to get home. I ate crow on that one. What happened - I was using it for all expenses while traveling for my company right out of school. Little did I realize that I had no credit history - lol. Fast forward almost 30 years. I use it for everything I can - literally. I have over 500K in points and recently I went out and charged a car for my wife. Lots of points there. I have been very satisfied with the service, and travel to Europe once every other year because of the rewards. I still am a bit nervous when it comes to charging because of what happened in San Diego almost 30 years ago. However, my relationship with them has been great, the rewards are good if you sign up for them and if you call them - prewarn them that you are out of town - there is never an issue with a charge. They may not be perfect, but their customer service is good, and I have never really had an issue with them - except that one time.
Regular Contributor
KDM
Posts: 183
Registered: ‎04-17-2007
0

Re: How does Amex work?

I plan to use mine monthly for a small charge.  Although, with no cl, I'm not sure how it's going to benefit my credit score as there will be no way to gauge my ut.
 
My plan was to establish a relationship with AMEX and in the future get a credit card with them, but now I'm wondering if Citibank would be the better card.  I have read that they are generous with the CLI.
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: How does Amex work?



KDM wrote:
I plan to use mine monthly for a small charge.  Although, with no cl, I'm not sure how it's going to benefit my credit score as there will be no way to gauge my ut.
 
My plan was to establish a relationship with AMEX and in the future get a credit card with them, but now I'm wondering if Citibank would be the better card.  I have read that they are generous with the CLI.



Citi has the best CLI, IMO. The important thing with Citi is responsibility. They do frequent ARs and are very prone to CLD. If you get a new derog they will find it. :smileyhappy:
Regular Contributor
KDM
Posts: 183
Registered: ‎04-17-2007
0

Re: How does Amex work?

Frequent AR's is a good thing, if it results in cli.  Do they decrease for low usage?
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
0

Re: How does Amex work?

Over on creditinfocenter, there's a monster AMEX thread. It's a thoroughly disgusting display of customers butt kissing a creditor. [There's more than a bit of satire in the previous sentence.]

 

In all seriousness, I do not know of a single creditor held in such high regard. If you stay current, I have yet to hear of AMEX doing arbitrary and unannounced CLDs, and they seem more generous than most OCs with CLIs.

 

Anecdotally, AMEX seems to serve as spit shine on a CR. One could be led to believe there's a hidden algorithm in FICO scoring that gives one a higher score with an AMEX card over VISA or MC. Given the era when FICO scoring was developed, it's not unreasonable to believe--but I've never heard anything credible to support this. Just supposition and speculation.

 

Disclamer: I am NOT an AMEX cardholder.

 

Moderator Emeritus
fused
Posts: 16,376
Registered: ‎03-12-2007
0

Re: How does Amex work?

Noah_Bodie:
 
I'm not surprised by your disdain of AMEX.  Two things I do know about them is: they have stringent underwriting and screw you if you pay late even once.  After I passed their underwriting and always pay on time, I have no problems. 
 
I will say this, their customer service is excellent, the wait time is short and you can actually speak with someone intelligent.
 
As far as the perks, excellent!!!  The gold Rewards Plus gives me two points for every dollar I spend with an AMEX partnered airline, hotel, car rental, shops,  restaurants, etc., etc., etc.
Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Regular Contributor
KDM
Posts: 183
Registered: ‎04-17-2007
0

Re: How does Amex work?

Well, CLI won't do me any good with my green card.    I'll just have the good use and payment record to go on my report.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
0

Re: How does Amex work?

fused111,

 

Umm, I may have strung together a few too many double and triple negatives. I do not have disdain for AMEX.

New Visitor
wealth2007
Posts: 1
Registered: ‎05-01-2007
0

Re: How does Amex work?

Hey can you explain what type of credit you had at  the time AMEX offered you the card (i.e., BK, charge-off, collections, past dues, etc)?

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