topic Re: How to Get in Good with Amex? in Credit Cards

How to Get in Good with Amex?

want2b_800s — Fri, 19 Sep 2008 08:16:23 GMT

Any advice on how to get in good with AMEX so they don't take any AA? I just got my first card and don't quite know how to play the AMEX game. Any suggestions would be welcomed.

Thanks

Re: How to Get in Good with Amex?

haulingthescoreup — Fri, 19 Sep 2008 14:26:08 GMT

Did you get a revolver (Blue, Delta, etc) or one of the classic charge cards? They seem a bit less squirrelly with the charge cards.

These are what I'd advise for the first year, anyway:

Use the card a lot. They love getting their cut through transaction fees.

Don't carry a balance on the AmEx card, or if you do, pay it off briskly.

Don't suddenly carry high util on a non-AmEx card. So think long and hard before doing an 80% BT to a different card. This sends them into an immediate case of the quivers.

Keep your scores about where they were when you applied (or better.)

If you're planning to use it out of your usual geographic area, or for higher purchases or more frequently than usual, call CS to give them a heads-up. (thanks, MV!)

If it's a revolver, don't start trying to game it and upgrade to a card that you would not have qualified for first time through. Just take care of what you have for the first year.

If it's a revolver, don't call up and start nagging about CLI's. Let them do the work.

I hope you don't live in an area with a high foreclosure rate. Like other banks, they're giving stink-eye to certain zip codes, as well as certain professions, like home-builders and members of the mortgage and banking industries.

And finally, go online every morning (heck, maybe evening too) and see if you still have the same CL that you think you have.

Good luck! I'm happy with my card. Just don't try to dazzle them. They don't appreciate it.

edited to add MV's reminder about out-of-pattern usage. I knew I'd forgotten something.

Message Edited by haulingthescoreup on 09-19-2008 07:26 AM

Re: How to Get in Good with Amex?

score_building — Fri, 19 Sep 2008 11:25:55 GMT

Thanks for posting this totally awesome summary, i just wish i had asked you a year ago when i got mine, lol. i think i may post this one on my fridge or something until i have it memorized cause i like my Clear card a lot and am willing to play by their rules (or do just about anything to keep it) including treating my second year like it was my first, in hopes they see i learned just about all the rules.

want2b - things can change over time and ymmv but i bet if you follow this guide you can pretty much rest assured that they will treat you right in return. you sorta have to jump through a number of hoops but so far, even tho' it can be skerry sometimes, it seems worth it to me.

even tho' i am currently a fan, i still don't think 'protecting their bottom line' fully explains how they are dealing w/ some of their solid long term customers. GL!!

Message Edited by score_building on 09-19-2008 04:25 AM

Re: How to Get in Good with Amex?

haulingthescoreup — Fri, 19 Sep 2008 11:28:40 GMT

You know, I don't think that it's just them reacting to our naughtiness. MattH just posted a link to a NYTimes article over on Credit in the News, and it contained this little gem:

""American Express, to take one striking example, is reducing the maximum credit limit for half of its tens of millions of cardholders...American Express is hardly alone."

Sometimes we consumers are just hamsters caught in a runaway exercise wheel.

http://ficoforums.myfico.com/fico/board/message?board.id=creditnews&thread.id=2604

edit to add: score_building, a year ago we would all have been saying to get in with the basic Delta, do a product change on activation as well as ask for an immediate CLI, and go back for more CLI's every three months. My, how times have changed!

Nowadays, any fancy moves with American Express should be reserved for their relatively long-term members.

Message Edited by haulingthescoreup on 09-19-2008 04:28 AM

Re: How to Get in Good with Amex?

score_building — Fri, 19 Sep 2008 12:08:44 GMT

isn't that something? What a difference one year can make in CCville! thanks for sharing the MattH article post, i hadn't caught it. yes, amex is in good company-

Re: How to Get in Good with Amex?

MidnightVoice — Fri, 19 Sep 2008 12:32:17 GMT

I would also add that if you are going to spend "out of pattern" let them know. I told them about my computer purchase and vacation (both piffed).

I also have set up so that they can take the minimum from my bank if I ever forget to make a payment, just as an emergency back up, although with the internet that is less likely to be needed

Re: How to Get in Good with Amex?

Watchmann — Fri, 19 Sep 2008 12:54:50 GMT

And one of the biggest factors of all is something you can't do anything about, and that is TIME. AMEX values a long, stable relationship. Those with long histories with the company are, for the most part, immune to FR's and CLD's that are reported here with a seemingly high frequency. Slow and steady wins the race with AMEX.

Re: How to Get in Good with Amex?

haulingthescoreup — Fri, 19 Sep 2008 14:28:35 GMT

@Watchmann wrote:

And one of the biggest factors of all is something you can't do anything about, and that is TIME. AMEX values a long, stable relationship. Those with long histories with the company are, for the most part, immune to FR's and CLD's that are reported here with a seemingly high frequency. Slow and steady wins the race with AMEX.

Yep, that's why I said "for the first year, anyway." And I'd say that every increasing year of familiarity makes it even better.

Added MV's out-of-pattern note to the list. I always misplace one thing on the list.

Re: How to Get in Good with Amex?

MidnightVoice — Fri, 19 Sep 2008 14:53:36 GMT

haulingthescoreup wrote:

Added MV's out-of-pattern note to the list. I always misplace one thing on the list.

Glad I can be of SOME use here other than as Court Jester

Re: How to Get in Good with Amex?

want2b_800s — Sat, 20 Sep 2008 01:50:49 GMT

thanks to everyone for the insight.

Re: How to Get in Good with Amex?

fused — Sat, 20 Sep 2008 03:00:58 GMT

Watchmann wrote:

And one of the biggest factors of all is something you can't do anything about, and that is TIME. AMEX values a long, stable relationship. Those with long histories with the company are, for the most part, immune to FR's and CLD's that are reported here with a seemingly high frequency. Slow and steady wins the race with AMEX.

I agree 100%. Nothing counts more to Amex than a long history of on time payments.

Re: How to Get in Good with Amex?

want2b_800s — Sat, 20 Sep 2008 05:56:31 GMT

Hey fused....there you are. I can't believe you abandoned me after beginning the whole hipaa thing.....someone jacked my thread and it was all over.

Oh well....good to see you around.

Re: How to Get in Good with Amex?

Anonymous — Sat, 20 Sep 2008 10:47:37 GMT

The first year thing w/ Amex -- har.

I was cld'd when my card was exactly 51 weeks old. I guess they wanted to make sure they didn't let me pass over to the one year mark.

Still at 500 CL -- they didn't further reduce me yesterday!