topic Amex Gold, Green, Every Day.....my head is spinning in Credit Cards

Amex Gold, Green, Every Day.....my head is spinning

Gramy — Wed, 11 Nov 2015 17:33:17 GMT

So, my current FAKO's are 787, 767 at CK

I have a kohls charge $1000 limit....used once, paid before interest. 4months now. Got this one to get discount, help mom out & to break into getting my first credit card in 10years.

TD Bank $500 limit, was secured, they changed it to regular credit card, still $500 limit. I may request increase.

Student loans from 2002- all pay on time, etc etc.

I have no real prime cards. went for a chase sapphire, denied mb 3mo ago. Newbie mistake.

Now, I want to go for an AMEX gold or the every day, or...???. Im just trying to get a decent card to build my profile. I would use either & payoff before the month no matter what. Build points. Which is easier to get?

It was reco that I try for CAP1, but Idk if I wanna go for that because I had cap1 & included it & a chase card in bankruptcy about 12-13yrs ago. Its not on my CR anymore. When I applied to Chase they told me they had a record of me filing Bankruptcy (so much for your past not haunting you). So, I figd cap1 might say the same to me. Anyway. Any tips? I've read alot on here, but everyone's situation is different. Thought I'd see what you guys thought on this.

Thank you!!

Re: Amex Gold, Green, Every Day.....my head is spinning

Anonymous — Wed, 11 Nov 2015 17:39:09 GMT

Amex green, gold etc. are charge cards. The Everyday etc. are credit cards. On the Amex website you can see which is which. The charge cards all basically have the same underwriting, I'd go for the Premier Rewards Gold if that's your interest. Just know the charge cards don't report a credit line because there's "no preset limit." As far as Capital One, just go to their pre-qual screen and see if you are pre-qualified, their results are usually spot on and accurate.

Re: Amex Gold, Green, Every Day.....my head is spinning

Anonymous — Wed, 11 Nov 2015 17:42:41 GMT

Sadly from what I heard chase doesn't forget lol What I would do is do a prequal with Cap1 and see what comes up for you as qualified....someone else good with this might be able to help. Its a shot in the meantime they are pretty on the dot for prequal. also is you are qualified and they also suggest another app for both so you just get hit with only 3 pulls

Re: Amex Gold, Green, Every Day.....my head is spinning

Anonymous — Wed, 11 Nov 2015 18:09:30 GMT

Sign up for Credit Check Total's 7-day trial for $1 to get your Fico 08 scores. Cancel your subscription before it ends though.

Re: Amex Gold, Green, Every Day.....my head is spinning

Anonymous — Wed, 11 Nov 2015 18:15:28 GMT

have you checked amex for prequalified offers? Sometimes fako scores can be off by 100 points, and also, they dont include your experian, which is what amex uses. They tend to prefer folks with a thin file, but not always a must obviously.

What is your monthly spend and its categories (gas, groceries, dining, general spend)? Do you fly delta? The ED/EDP green, prg, etc really only make sense for folks that would transfer their points to Delta. A round trip domestic ticket is usually 25-30k points. You could easily get 75k-100k points with just one experian inquiry. Thats enough for 4 plane tickets.

Re: Amex Gold, Green, Every Day.....my head is spinning

Anonymous — Wed, 11 Nov 2015 18:27:43 GMT

I would definitely recommend capital one. They are very quick to forgive, there are many members on here whom have been approved for cards after burning them less than 4 years ago in a BK. Definitely check their pre-qualifier. If your income supports it, they will probably be the first lender to give you a pretty nice starting limit.

Re: Amex Gold, Green, Every Day.....my head is spinning

gibeon — Wed, 11 Nov 2015 19:22:35 GMT

Definitely check with Cap One prequal.

They've given cards to people who have two unpiad charge-offs with them after less than two or three years. (And I've heard of 12 months before as well.)

Re: Amex Gold, Green, Every Day.....my head is spinning

Gramy — Thu, 12 Nov 2015 15:00:45 GMT

Cap1 says: "We couldn't match your records to a card offer, but based on your answers we think you might like these cards" VentureOne & Quicksilver. I did the prequal on AMEX too and they told me AMEX gold, Every day, Green. Gold is 160$ annual after a year, green $95 after a year. I like the VentureOne 20k miles bonus. I would def turn that into miles, but they didnt offer me the regular venture which offers the 40k mile bonus. I wish these companies would allow you to apply & then work with you to get the one you want, rather than leave you to guess which one you want & then hope you qualify.

I'm not sure about that "we couldn't match..." thing though.

UPDATE:

Went for the AMEX everyday card - approved in like 15seconds for 10k. Not bad! Thanks everyone for the reponses & direction

Re: Amex Gold, Green, Every Day.....my head is spinning

takeshi74 — Thu, 12 Nov 2015 16:17:58 GMT

You have to use your needs/want to narrow down the options. It's no surprise that it seems overwhelming if you're considering every possible card and trying to justify one. That apporach will be overwhelming no matter what you're trying to shop for or when making a selection.

What are you specifically looking for from the card? You menton approval and building your profile but those are not useful selection critiera.

Sort out your needs/wants first. Then you'll have your criteria for selecting specific cards that suit you. Don't select a creditor and then try to justify a card. You've mentioned some rewards cards. If you want to take advantage of rewards then figure out your biggest spend categories and find cards that maximize rewards on that spend. Run the numbers. Don't bother with rewards programs like Membership Rewards (i.e. Green, Gold, Everyday, etc) unless you have sufficient spend to benefit. You also need to carefully research redemptions with programs like MR to ensure that you can get decent point value.

You may want to stick with cash back cards if you don't want to go through all that with points/miles reward programs.

@Gramy wrote:
went for a chase sapphire, denied mb 3mo ago.

You'd need to perform a similar analysis for the CSP. Typically these programs require running a lot of spend through them in order to benefit but, again, the redemption options that you can leverage will also have an impact on point/mile value.

@Gramy wrote:
When I applied to Chase they told me they had a record of me filing Bankruptcy (so much for your past not haunting you).

What's on your reports and what records a creditor may have are two entirely different things. Report exclusion does not make things cease to exist. It just excludes them from your reports.

@Gramy wrote:
I wish these companies would allow you to apply & then work with you to get the one you want, rather than leave you to guess which one you want & then hope you qualify.

Different products can have different underwriting critieria. It is what it is. As for qualifying, you have to be able to evaluate your own credit profile, recognize deficiencies and work on addressing them.