topic Re: Data points from a new Amex charge card holder in Credit Cards

Data points from a new Amex charge card holder

redheadtempe36 — Sat, 28 May 2016 00:00:33 GMT

Thought I'd post a few random data points for anyone/potential cardholders/applicants

Approved for Amex green with a 630ish FICO. Nothing came up on the pre-approval page.

I've checked my "spending power" about every two weeks just for kicks (I've been a cardholder for 2 months). I never put in anything crazy like $50,000 but I've been consistenly approved for at least $4,000 (630ish FICO, mid $60's income).

Not automatically approved for their pay over time feature. Will wait a year before I ask.

They don't post points until the billing cycle after you've paid. Charge $1000 in January, pay it in Febuary, won't post until the Febuary bill closes (basically March).

Good customer service (and on-shore).

Payments via their website can post same day (I paid my bill on Friday at around 6:00 A.M. Wells Fargo had a pending e-check/ACH for that amount by 5:00 P.M.). I've seen Discover and Capital One post next day, but this is a first. Just a warning, wait until Friday (or payday) before you do the payment. Had I done it the day before (Thursday), I might have bounced it (WF probably would have paid it, but why annoy the banking Gods?).

AF waived the 1st year. Will upgrade to the PRG before the annual fee kicks in, as I only use it for things I shouldn't carry over anyway (groceries, gas, cigs. bars/eating out, etc.)

Pretty happy so far. I kind of like "knowing" I have to pay it off at the end of the month.

Re: Data points from a new Amex charge card holder

Anonymous — Sat, 28 May 2016 00:11:53 GMT

@redheadtempe36 wrote:
Thought I'd post a few random data points for anyone/potential cardholders/applicants

Approved for Amex green with a 630ish FICO. Nothing came up on the pre-approval page.

I've checked my "spending power" about every two weeks just for kicks (I've been a cardholder for 2 months). I never put in anything crazy like $50,000 but I've been consistenly approved for at least $4,000 (630ish FICO, mid $60's income).

Not automatically approved for their pay over time feature. Will wait a year before I ask.

They don't post points until the billing cycle after you've paid. Charge $1000 in January, pay it in Febuary, won't post until the Febuary bill closes (basically March).

Good customer service (and on-shore).

Payments via their website can post same day (I paid my bill on Friday at around 6:00 A.M. Wells Fargo had a pending e-check/ACH for that amount by 5:00 P.M.). I've seen Discover and Capital One post next day, but this is a first. Just a warning, wait until Friday (or payday) before you do the payment. Had I done it the day before (Thursday), I might have bounced it (WF probably would have paid it, but why annoy the banking Gods?).

AF waived the 1st year. Will upgrade to the PRG before the annual fee kicks in, as I only use it for things I shouldn't carry over anyway (groceries, gas, cigs. bars/eating out, etc.)

Pretty happy so far. I kind of like "knowing" I have to pay it off at the end of the month.

I will throew in my data point since I just joined the AMEX family

Approved for AMEX Platinum with a 663 Experian, (my lowest) but was able to get the 100,000MR offer.

I checked my spending power and the most I have put in is $5000, I make about $90k a year

Today I paid for my TSA/Global Entry fee and will see how long it takes to post.

Plan on choosing an airline for my $200 credit and buy some giftcards. Also am about to take advantage of the Hilton Gold Status next month in New Orleans.

Thier website I am really diggin so far!

Re: Data points from a new Amex charge card holder

redheadtempe36 — Sat, 28 May 2016 00:45:30 GMT

Thier website I am really diggin so far!

I should have mentioned the website! Really like the pie graphs on where you are spending your money (by type/merchant/etc.) Yes, I can do this in excel, but Amex does it for me.

Also (my inital concern), have yet to hit a place that doesn't accept Amex. My shopping is pretty "mundane", but I've yet to hit a grocery store, gas station, resturant (keep in mind only two months), that doesn't take Amex.

I will also say, I'm surprised at how fast charges post. Charge it on a Monday, it will post by Tuesday/Wednesday at the latest. On my WF Visa, it can take 3-4 days. This can be good or bad depending on your situation.

Re: Data points from a new Amex charge card holder

js0319 — Sat, 28 May 2016 01:35:57 GMT

A couple of years ago when I was approved for PRG, I locked up the "check your spending power" tool and had to call to get it unlocked. In the first month, the system showed approval for $30k with a 660 average FICO and roughly $98/yr. I'm sure that number goes down considerably once they are able to identify your spending habits and realize that most people probably do not spend anywhere near that.

Re: Data points from a new Amex charge card holder

Anonymous — Sat, 28 May 2016 09:24:02 GMT

@redheadtempe36 wrote:
Thought I'd post a few random data points for anyone/potential cardholders/applicants

Approved for Amex green with a 630ish FICO. Nothing came up on the pre-approval page.

Got Amex Business Platinum on a 100k offer. Score was about 680

I've checked my "spending power" about every two weeks just for kicks (I've been a cardholder for 2 months). I never put in anything crazy like $50,000 but I've been consistenly approved for at least $4,000 (630ish FICO, mid $60's income).

I have gotten up to about $95k in a billing cycle. They then sent me a charging may be suspended message and I had to pay it down before the cycle was over. About 3 weeks ago, I got a hard limit of $50k. Something must have spooked them but I actually like being able to know exactly what my limit is and avoid embarassment.

Not automatically approved for their pay over time feature. Will wait a year before I ask.

I am also waiting a year.

They don't post points until the billing cycle after you've paid. Charge $1000 in January, pay it in Febuary, won't post until the Febuary bill closes (basically March).

Good customer service (and on-shore).

Payments via their website can post same day (I paid my bill on Friday at around 6:00 A.M. Wells Fargo had a pending e-check/ACH for that amount by 5:00 P.M.). I've seen Discover and Capital One post next day, but this is a first. Just a warning, wait until Friday (or payday) before you do the payment. Had I done it the day before (Thursday), I might have bounced it (WF probably would have paid it, but why annoy the banking Gods?).

I have had that happen as well, same day ACH posting.

AF waived the 1st year. Will upgrade to the PRG before the annual fee kicks in, as I only use it for things I shouldn't carry over anyway (groceries, gas, cigs. bars/eating out, etc.)

Pretty happy so far. I kind of like "knowing" I have to pay it off at the end of the month.

I really love my Amex Platinum. I use it mostly for travel. It's the business card so it doesn't report.

Re: Data points from a new Amex charge card holder

RonM21 — Sun, 29 May 2016 22:33:17 GMT

Thanks for the data. I'll be apping for them next month. I'll take all of the info I can get.

Re: Data points from a new Amex charge card holder

Anonymous — Sun, 29 May 2016 22:50:05 GMT

A word of warning - do not play with the spending power check much at all. This is pretty well known to casue AmEx to to a FR of your account. They do not like people cheking this often; apparently it makes them nervous. I have an AmEx and have never once tried the spending power option, I don't care as I'm not planning on maxing it and I have no desire to poke the bear!