topic Re: MUCH BETTER SUCCESS WITH AMEX - Advice? in Credit Card Approvals

MUCH BETTER SUCCESS WITH AMEX - Advice?

lonelyisland — Mon, 02 Jun 2014 23:48:01 GMT

Sooo... after my $350 CL approval from Sallie Mae, came home to a Amex invite to apply, so figured what the heck, I only have a couple of old INQs on Equifax, wont hurt if I am declined.

Applied for the Amex Everyday card, and got instant approval for $10K.

That made me feel much, much better LOL.

Any advice on AMEX? Should I BT my high IR cap one cards, and pay down during 0% APR, or is AMEX weird about balance carrying?

Thanks!!

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

myjourney — Mon, 02 Jun 2014 23:55:50 GMT

Congrats and welcome to the Amex family

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

SunriseEarth — Mon, 02 Jun 2014 23:59:23 GMT

@lonelyisland wrote:
Sooo... after my $350 CL approval from Sallie Mae, came home to a Amex invite to apply, so figured what the heck, I only have a couple of old INQs on Equifax, wont hurt if I am declined.

Applied for the Amex Everyday card, and got instant approval for $10K.
That made me feel much, much better LOL.

Any advice on AMEX? Should I BT my high IR cap one cards, and pay down during 0% APR, or is AMEX weird about balance carrying?

Thanks!!

Congrats on approval!

As for BT, if it makes financial sense to do so, then do it. I'd just make sure the BTs don't eat up too much of your AMEX CL and that you don't just make the mininum payment.

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

lonelyisland — Tue, 03 Jun 2014 00:05:22 GMT

Thanks Sunrise -

Interest rate would go from 22.9% to 0% and it would be about $1500 total - so about 15% plus transfer fee?

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

SunriseEarth — Tue, 03 Jun 2014 00:20:53 GMT

@lonelyisland wrote:
Thanks Sunrise -

Interest rate would go from 22.9% to 0% and it would be about $1500 total - so about 15% plus transfer fee?

Given that those probably take up quite a bit of the Cap One CLs, you would probably see a notable UTIL improvement if you keep the Cap One balances at zero. AMEX does love good overall UTIL.

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

alinoapa — Tue, 03 Jun 2014 01:34:42 GMT

Glad to hear it made you feel much better.....congrats

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

gdale6 — Tue, 03 Jun 2014 02:44:02 GMT

@lonelyisland wrote:
Sooo... after my $350 CL approval from Sallie Mae, came home to a Amex invite to apply, so figured what the heck, I only have a couple of old INQs on Equifax, wont hurt if I am declined.

Applied for the Amex Everyday card, and got instant approval for $10K.
That made me feel much, much better LOL.

Thanks!!

LOL, great start limit on the Amex

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

Creditaddict — Tue, 03 Jun 2014 04:24:13 GMT

I don't like using Amex for bt in the sense of other bt cards that you get $10k and bt $9500 BUT $1500, HECK yes, save yourself that money and bt it!!!

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

coldnmn — Tue, 03 Jun 2014 10:28:41 GMT

Congrats! Thanks for sharing.

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

BigBS — Tue, 03 Jun 2014 11:57:47 GMT

Congrats and definitely definitely BT the Cap1 to AMEX!

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

alvon123 — Tue, 03 Jun 2014 13:54:20 GMT

congrats

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

MissMoni223 — Tue, 03 Jun 2014 16:23:40 GMT

CONGRATS on your AMEX approval! I'm glad that worked out for you!!!

Re: MUCH BETTER SUCCESS WITH AMEX - Advice?

efranklin23 — Tue, 03 Jun 2014 21:32:44 GMT

@SunriseEarth wrote:
@lonelyisland wrote:
Sooo... after my $350 CL approval from Sallie Mae, came home to a Amex invite to apply, so figured what the heck, I only have a couple of old INQs on Equifax, wont hurt if I am declined.

Applied for the Amex Everyday card, and got instant approval for $10K.
That made me feel much, much better LOL.

Any advice on AMEX? Should I BT my high IR cap one cards, and pay down during 0% APR, or is AMEX weird about balance carrying?

Thanks!!

Congrats on approval!

As for BT, if it makes financial sense to do so, then do it. I'd just make sure the BTs don't eat up too much of your AMEX CL and that you don't just make the mininum payment.

+1 to this. Congrats on your new cards and Welcome to the AMEX Family!