topic Re: AMEX Gold Approval! in Credit Card Approvals

AMEX Gold Approval!

Anonymous — Sun, 16 Jun 2019 19:39:17 GMT

I just recently applied for my first Amex card, the BCE. Unfortunately the credit limit was only $500, and I quickly realized it was the wrong card to apply for in my case. So I wasn't planning on applying for another amex card for a while. But as I mentioned in another thread, https://ficoforums.myfico.com/t5/Credit-Cards/Anyone-gotten-personal-Amex-through-Corporate-Advantage-offer/td-p/5641597 I also have a corporate Amex card through my job, and upon logging into that account one day I received an offer to apply.

Some members here suggested that I don't apply because I had JUST gotten another Amex card, and the credit limit being so low on that card shows that they aren't too sure about extending credit to me yet. But after speaking to an Amex representative today (I called to discuss another matter), I decided to give it a shot, and was instantly approved online through the corporate membership portal. Getting my card in 3-5 days. I also added my fiance to my account. I will easily meet the minimum spend for the bonus since I'm buying a ring soon.

I have the following questions:

1. Is there any way for me to figure out what my credit limit will be?
2. Will that card help my credit report in any way, how will it factor into my utilization?

Anyways, VERY happy to be approved for this card. It fits perfectly with my spending patterns and I will begin traveling A LOT in the second half of 2020, so I hope I will benefit. After I see how it goes, I might apply for the platinum next year before our travels as well.

Re: AMEX Gold Approval!

Anonymous — Sun, 16 Jun 2019 19:42:37 GMT

1. no - there isn't a limit on charge cards

2. - see #1

3. make sure she doesn't have online access or she'll see the ring post to the account

Re: AMEX Gold Approval!

Anonymous — Sun, 16 Jun 2019 20:04:55 GMT

we're not doing it the conventional way, we're buying it together, she's vegan and pro-sustainability so she already knows where she wants to get the ring from.

If there isn't a limit, does that mean it does not help my credit utilization at all? :'(

Re: AMEX Gold Approval!

Anonymous — Sun, 16 Jun 2019 20:08:26 GMT

Welcome to Charge Cards!!!!!

NPSL w/ Charge cards reports in the "other" section on your reports because there's no ratio of spend/CL because there is no assigned CL. POT feature doesn't calculate into it either. You get history and age though with it as it progresses with time.

Re: AMEX Gold Approval!

TheFIGuy — Sun, 16 Jun 2019 23:10:24 GMT

Congrats! I love AMEX and they do SP after first card.

tl:dr but you might have stated this in your above post

Re: AMEX Gold Approval!

Anonymous — Mon, 17 Jun 2019 01:32:50 GMT

Congrats - Gold is a great card if you can use the benefits and it sounds like you can. Meeting the spend for the ring will net you a chunk of MRs that may help with honeymoon travel too!

The others are correct about how it will and won’t help your scoring. The additional way it can help of course is to give you an additional tradeline with positive payment history. Also though, you can run far heavier spend through it than a revolver without negative effects on your score due to its not counting toward UTI so that can definitely be a bonus.

Congrats on the card and on your upcoming wedding

Re: AMEX Gold Approval!

Anonymous — Mon, 17 Jun 2019 01:50:01 GMT

Congrats on adding another card from Amex! I'm assuming an engagement as well? If so, wish you the best!

Re: AMEX Gold Approval!

Anonymous — Mon, 17 Jun 2019 05:08:33 GMT

Congrats on your Gold approval! Enjoy!

Re: AMEX Gold Approval!

MyFault — Mon, 17 Jun 2019 16:47:26 GMT

Congrats on the Gold and the engagement!

Re: AMEX Gold Approval!

M_Smart007 — Mon, 17 Jun 2019 18:23:55 GMT

Congratulations!

Re: AMEX Gold Approval!

Petit3tee — Mon, 17 Jun 2019 21:54:50 GMT

@Anonymous wrote:
we're not doing it the conventional way, we're buying it together, she's vegan and pro-sustainability so she already knows where she wants to get the ring from.

If there isn't a limit, does that mean it does not help my credit utilization at all? :'(

Congrats on the approval! Apparently, the gold card isn't going to help your UTI but it's not going to hurt it either since there's no cap. But no pre set spending limit doesn't really mean no limit, you can use online check spending power to kinda guage how much you're allowed to spend on the card. At the same time, work on your BCE. That card will grow if you treat it well. There're many threads about Amex x3 CLI you should look into.

Re: AMEX Gold Approval!

800FICOGoal — Mon, 17 Jun 2019 23:14:09 GMT

Congrats on your Amex approvals!

Re: AMEX Gold Approval!

Anonymous — Tue, 18 Jun 2019 13:58:56 GMT

@Anonymous wrote:
1. no - there isn't a limit on charge cards
2. - see #1

3. make sure she doesn't have online access or she'll see the ring post to the account

her registering her card and having online access is fine. her registration will not give her access to your transactions. IF you give her YOUR login, or make her an "Account Manager", then and only then can she see everything - including the ring!

congratulations on your upcoming engagement!