topic Re: Which AMEX to app for? in Credit Card Applications

Which AMEX to app for?

credit_endurance — Sun, 05 Jun 2016 22:07:06 GMT

Hi all,

I am officially going gardening real soon but wanted to app for one more card.

Looking over the AMEX family of cards I just can't decide. I already have the BCE and wanted add one more card to compliment that one.

I don't do a ton of traveling so would just want a card that I can build up points and save on everyday purchases.

Any suggestions?

Re: Which AMEX to app for?

Anonymous — Sun, 05 Jun 2016 23:16:16 GMT

any particular reason you need another one? That would be more of the deciding factor I think.

Re: Which AMEX to app for?

RonM21 — Mon, 06 Jun 2016 00:13:03 GMT

Not sure depending on the need.Also if your Exp.score is 639, that may limit what is in play althiugh it is always a ymmv thing.

Re: Which AMEX to app for?

credit_endurance — Mon, 06 Jun 2016 03:18:27 GMT

Well, I have just recently had a couple of baddies removed from my credit report that should really give my scores a boost so I wanted to try one last card before hitting the garden club

Re: Which AMEX to app for?

Anonymous — Mon, 06 Jun 2016 03:35:14 GMT

If you don't have a need for another card, there isn't much logic to applying for one just to get it.

I would say no Amex card "compliments" the BCE. It is a cash back card from Amex. There is only one other personal card that earns cash back and it earns in the same categories at a higher rate. Along those same lines, there isn't really a point earning card that compliments the card either, especially a non travel related card. The card you're describing is basically the Amex Everyday card which earns in the same categories, but in the opposite way (it earns MR points, not cash back). It is basically the polar opposite in terms of rewards structure, but identical in terms of rewards categories.

The long and short of it... Finding a card to apply for is not the way to do things long term. You should be applying for products based off of at least a perceived need with long term retention in mind. At the very least, if you want to chase sign up bonuses, you should still have a focused long term plan. Applying just to apply just because you won't be applying for anything in the near future defeats the purpose of intelligently building your credit profile and can exclude you from approvals you actually want or need in the not so distant future.

Re: Which AMEX to app for?

credit_endurance — Mon, 06 Jun 2016 03:39:51 GMT

Thanks for the solid advice. I really don't need another card and should just work on growing what I have.

Re: Which AMEX to app for?

Anonymous — Mon, 06 Jun 2016 03:52:14 GMT

I find myself "wanting" lots of cards. I would say there are very few cards I wouldn't get approved for, but I haven't applied for a card in 11 months. I am a collector and an obsessive person like I assume of lot of the members on this forum are, but I'd rather be patient and get what I want with a credit limit that is useful to me and be ready for a mortgage and car loans and for anything else that comes up.

Also, specifically with Amex, I find myself "wanting" their products. The fact is, the cards I have from them are pretty useful to me, but I have to try to find another card from them that fills a gap or has its own purpose and I can't really do it. So, I just don't apply.

Good luck on your mission to rebuild or build. Don't take my message as an indication not to apply for something that is useful to you when the time is right. And, of course, do as you please and make your own decisions, but trying to make a card work for you or find another card from a specific lender that's the best fit or anything along those lines will tend to be a wasted app and a product you won't want, use or need in the near future.

Re: Which AMEX to app for?

credit_endurance — Mon, 06 Jun 2016 04:04:13 GMT

Point well taken Tubpbs. I am really taking this credit rebuilding very seriously and covet advice from anyone that's willing to share. I am quite satisfied with my cards thus far. I can honestly say only a couple I am regretting to have applied for but hey,that's the price of rebuilding I guess. As my scores improve building up the credit lines on these cards will be the goal. Thanks again.

Re: Which AMEX to app for?

Anonymous — Mon, 06 Jun 2016 04:27:51 GMT

Word. Approvals are satisfying, but a long term change in your overall profile will be more satisfying AND will lead to more satisfying approvals on the long run.

Re: Which AMEX to app for?

kdm31091 — Mon, 06 Jun 2016 16:42:15 GMT

Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every creditor suits every person's spend and situation.

Re: Which AMEX to app for?

SouthJamaica — Mon, 06 Jun 2016 17:10:21 GMT

@credit_endurance wrote:
Hi all,

I am officially going gardening real soon but wanted to app for one more card.
Looking over the AMEX family of cards I just can't decide. I already have the BCE and wanted add one more card to compliment that one.
I don't do a ton of traveling so would just want a card that I can build up points and save on everyday purchases.

Any suggestions?

No offense but I don't think your scores are high enough at the moment.

Since you already have the BCE you have the right Amex card for your needs.

In my opinion you should officially start gardening now.

Re: Which AMEX to app for?

credit_endurance — Mon, 06 Jun 2016 17:11:30 GMT

@kdm31091 wrote:
Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every creditor suits every person's spend and situation.

Yes, I had found myself getting rush from my approvals. Although I would like a card from the Citi family double cash back comes to mind or the cool Marvel type cards I honestly don't need another card to add to the mix. I just need real strategy on how to build my current credit lines that perhaps would be more fruitful advice.

Re: Which AMEX to app for?

SouthJamaica — Mon, 06 Jun 2016 17:18:00 GMT

@credit_endurance wrote:
@kdm31091 wrote:
Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every creditor suits every person's spend and situation.
Yes, I had found myself getting rush from my approvals. Although I would like a card from the Citi family double cash back comes to mind or the cool Marvel type cards I honestly don't need another card to add to the mix. I just need real strategy on how to build my current credit lines that perhaps would be more fruitful advice.

The best strategy would be to

(1) make no more applications

(2) use all the cards but pay them down to zero as fast as you can

(3) apply for the occasional soft pull CLI

(4) enhance your FICO scores by letting most cards report zero balance and others report small balance

(5) if you have no current installment loans, and want to go the extra mile to enhance your FICO scores, take out a small credit union share secured loan and pay it down to 9%

Re: Which AMEX to app for?

credit_endurance — Mon, 06 Jun 2016 17:17:52 GMT

@kdm31091 wrote:
Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every

Yes,I had found myself enjoying the rush from the approvals lately. I was thinking of adding a,Citi double cash back or the very nice looking Marvel family cards to the mix. But honestly I believe building my current credit lines up accessing strategy and applying it to raise my current scores would be more fruitful.

Re: Which AMEX to app for?

credit_endurance — Mon, 06 Jun 2016 17:24:33 GMT

@SouthJamaica wrote:
@credit_endurance wrote:
@kdm31091 wrote:
Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every creditor suits every person's spend and situation.
Yes, I had found myself getting rush from my approvals. Although I would like a card from the Citi family double cash back comes to mind or the cool Marvel type cards I honestly don't need another card to add to the mix. I just need real strategy on how to build my current credit lines that perhaps would be more fruitful advice.
The best strategy would be to

(1) make no more applications

(2) use all the cards but pay them down to zero as fast as you can

(3) apply for the occasional soft pull CLI

(4) enhance your FICO scores by letting most cards report zero balance and others report small balance

(5) if you have no current installment loans, and want to go the extra mile to enhance your FICO scores, take out a small credit union share secured loan and pay it down to 9%

I do have 2 students loans in play. Both have low balances and I've just kept them around to keep AAOA lengthy. And I have one personal loan through a local CU for around $4k. Should I pay off those small student loans as well as pay down the local CU personal loan then app for an installment loan? Or just wait it out?