topic Re: Debate topic: is there really such a thing as being "in with Amex"? in Credit Cards

Debate topic: is there really such a thing as being "in with Amex"?

Anonymous — Fri, 21 Oct 2016 02:09:18 GMT

Many people (including myself, just a year ago when I was new to credit rebuilding) celebrate their first Skymiles Gold or PRG as being "finally in with Amex".

The question is like to see some debate on though, is: is there really such a thing?

Many have a particular credit issuer who "hates" them seemingly, and mine has been Amex, admittedly. So perhaps it's simply been my own frustrating relationship with them, but it doesn't seem like there's any difference between being a first-time applicant and having been with them for a year and a half.

Perhaps the relationship only 'gets good' after a longer period of time.

Thoughts?

Re: Debate topic: is there really such a thing as being "in with Amex"?

AverageJoesCredit — Fri, 21 Oct 2016 02:18:18 GMT

Just because one becomes" being in" doesnt mean they will treat you the same as someone who has a higher income or thicker profile. Many people find that there finally in but can sometimes still be held back ftom past transgressions such as a bk or charge off. I guess only time would truely tell if you are "in" .

I unfortunately had to include my Amex's in my bk7, didnt understand credit well at the time, and 9 and half years later am still on the outside looking in. Since i dont make much coupled with my bk7, i dont fancy theyll be knocking at my door anytime soon and even if i were able to get back "in" id probably be stuck at the $500 or 1000 purgatory due to past relationship. They have a long memory so one should be careful with the notion of being "in".

Re: Debate topic: is there really such a thing as being "in with Amex"?

Anonymous — Fri, 21 Oct 2016 02:18:43 GMT

Someone will correct me if I'm wrong, but I believe being "in" with AMEX means they won't do a HP if they deny an app for a second/third/fourth card, so there's that.

But I'm more of the camp of applying for the product you want, not getting some product you don't care about just to "get in" particularly if you can't PC into a product you do want later on (or if they won't allow you to allocate some of the credit they've already given you into the new card, like I know some people at least used to do with like Barclay).

Re: Debate topic: is there really such a thing as being "in with Amex"?

Anonymous — Fri, 21 Oct 2016 02:25:34 GMT

I really can't comment about being in with Amex since when I first started building up my credit back in 2014 I was pretty indifferent towards them as far as reputation is concerned. I got in with them through an invite they snail mailed me for their PRG Charge Card. Instantly approved, I was so happy I had a second card for my line up. - More so, I have a sense of loyalty and gratitude towards AMEX because they kept my account opened after a bankruptcy was reported on my credit report in error, which resulted in my other card at the time being closed. AMEX gave me a chance to explain the situation and didn't shut down my accounts after I explained the mixup. Unlike the other creditor who shut down my credit line and having me find out the hard way. By keeping my account open, they were able to help me continue build up my credit while I fought with the CRAs to get that bankruptcy taken off my credit report.

Re: Debate topic: is there really such a thing as being "in with Amex"?

wasCB14 — Fri, 21 Oct 2016 02:29:12 GMT

With backdating gone, "being in" doesn't mean what it once did.

Re: Debate topic: is there really such a thing as being "in with Amex"?

wasCB14 — Fri, 21 Oct 2016 02:32:05 GMT

@Anonymous wrote:
I really can't comment about being in with Amex since when I first started building up my credit back in 2014 I was pretty indifferent towards them as far as reputation is concerned. I got in with them through an invite they snail mailed me for their PRG Charge Card. Instantly approved, I was so happy I had a second card for my line up. - More so, I have a sense of loyalty and gratitude towards AMEX because they kept my account opened after a bankruptcy was reported on my credit report in error, which resulted in my other card at the time being closed. AMEX gave me a chance to explain the situation and didn't shut down my accounts after I explained the mixup. Unlike the other creditor who shut down my credit line and having me find out the hard way. By keeping my account open, they were able to help me continue build up my credit while I fought with the CRAs to get that bankruptcy taken off my credit report.

How does a BK suddenly show up in error?

Re: Debate topic: is there really such a thing as being "in with Amex"?

Anonymous — Fri, 21 Oct 2016 02:36:39 GMT

Father and I have the same name. I have a middle name, he does not. We both have different social security numbers. His bankruptcy was tagged onto my credit report.

Re: Debate topic: is there really such a thing as being "in with Amex"?

UncleB — Fri, 21 Oct 2016 03:52:05 GMT

@Anonymous wrote:
Someone will correct me if I'm wrong, but I believe being "in" with AMEX means they won't do a HP if they deny an app for a second/third/fourth card, so there's that.

But I'm more of the camp of applying for the product you want, not getting some product you don't care about just to "get in" particularly if you can't PC into a product you do want later on (or if they won't allow you to allocate some of the credit they've already given you into the new card, like I know some people at least used to do with like Barclay).

To me, that Amex only does a HP if subsequent applications are approved is a rather nice 'perk', and might be a consideration for someone who has a card with them however I also agree that people should generally apply for the card they really want, with a couple of exceptions.

In my case, I burned some of the major lenders years ago and I always wondered if I would be allowed back in. I chose to apply for the Citi Diamond Preferred... I knew this card would be useful to me, but at the time it wouldn't have been a disaster had it not been approved. Also, I knew that once the 0% promo is over I can likely PC it to a Double Cash, which for many people comes with a modest SL even in the best circumstances. My DP application (and subsequent approval) was my way of 'testing the waters'.

My application for the Chase IHG was similar... I suspected that I would have trouble getting approved for any Chase card, and while I have my eye on the 'main' Chase cards there's no point in working off 5/24 just to be told in a couple of years that it was always out of reach anyway. I applied and was approved for the Chase IHG, and while the perks will be moderately helpful the next couple of years the main "perk" is knowing that Freedom/CSP/CSR are likely not forever out of reach (at lease due to my past events). If I choose to, I can somewhat-safely work towards getting under 5/24 knowing that an approval is at least possible.

For people with 'regular' circumstances I would say to just apply for the card you want, but that's just my 2¢.

(Some people might have other subjective considerations (i.e. getting a card that was 'lost' in the past due to hardship, etc.), and that's OK too... we just have to do what's best for each of us.)

Re: Debate topic: is there really such a thing as being "in with Amex"?

UncleB — Fri, 21 Oct 2016 04:14:21 GMT

@AverageJoesCredit wrote:
Just because one becomes" being in" doesnt mean they will treat you the same as someone who has a higher income or thicker profile. Many people find that there finally in but can sometimes still be held back ftom past transgressions such as a bk or charge off. I guess only time would truely tell if you are "in" .

I unfortunately had to include my Amex's in my bk7, didnt understand credit well at the time, and 9 and half years later am still on the outside looking in. Since i dont make much coupled with my bk7, i dont fancy theyll be knocking at my door anytime soon and even if i were able to get back "in" id probably be stuck at the $500 or 1000 purgatory due to past relationship. They have a long memory so one should be careful with the notion of being "in".

Don't give up completely... I also burned them in a BK7 back in 2000 and they let me back in last year. I never tried before then so it might not have taken quite that long, but in any case "I'm Back".

When I applied I wasn't active on here yet and didn't know all the Amex specifics and (most importantly) I was assuming I would be denied... I actually applied with the intention of using the denial to get a free copy of my EX (I know, foolish). I almost fell over when my Green card app was approved... and that wasn't the card I really wanted! <doh!>

I quickly did some research and noted that many people can get a revolver the same day as a charge with one HP, so I did a 'Hail Mary' and apped for the BCP, and got approved as well for $1k (EX score at the time was 697, IIRC). I have since closed the Green, and got a PRG and Delta Gold. (This relates back to the OP's topic... if you don't want the card, it's really not good to app for it!)

I will mention that they don't forget anything... my revolvers are stuck at $1k and CLIs are always denied due to "...previous negative history with an Amex account" or something to that effect - they are referring to the now 16-year old BK7 (they also greet me with "Member since 1995" now when I log in... it's too bad I missed 20 years of backdating by three (!) weeks). While I would really like a CLI I'm not complaining; they could have given me a simple 'no' (and I thought they would). In any case, I'm able to make the $1k CL on the BCP work... I only use it for groceries and Amex offers (and an occasional mall purchase), and while the utilization on that card does report rather high my overall score doesn't seem to be negatively impacted. (I usually earn $20-$25 each month in cash rewards from that card, so it's worth the annoyance... LOL)

The moral of my story is to not give up... as long as you didn't do anything during the BK7 that would have them flag you as fraud (like run up a huge balance right before your filing) with enough time you should be fine. Also, note that I had to cold-app... I never received a snail-mail offer like so many do, and I had no pre-qual offer showing at the time of my approvals (and ironically, I still don't).

Hope this helps!

Note: Apologies for this detour; I just wanted to demonstrate that it's possible to "get back in with Amex" even after a catastrophe.

Re: Debate topic: is there really such a thing as being "in with Amex"?

Anonymous — Fri, 21 Oct 2016 04:30:10 GMT

@UncleB wrote:
@Anonymous wrote:
Someone will correct me if I'm wrong, but I believe being "in" with AMEX means they won't do a HP if they deny an app for a second/third/fourth card, so there's that.

But I'm more of the camp of applying for the product you want, not getting some product you don't care about just to "get in" particularly if you can't PC into a product you do want later on (or if they won't allow you to allocate some of the credit they've already given you into the new card, like I know some people at least used to do with like Barclay).
+1

To me, that Amex only does a HP if subsequent applications are approved is a rather nice 'perk', and might be a consideration for someone who has a card with them however I also agree that people should generally apply for the card they really want, with a couple of exceptions.

In my case, I burned some of the major lenders years ago and I always wondered if I would be allowed back in. I chose to apply for the Citi Diamond Preferred... I knew this card would be useful to me, but at the time it wouldn't have been a disaster had it not been approved. Also, I knew that once the 0% promo is over I can likely PC it to a Double Cash, which for many people comes with a modest SL even in the best circumstances. My DP application (and subsequent approval) was my way of 'testing the waters'.

My application for the Chase IHG was similar... I suspected that I would have trouble getting approved for any Chase card, and while I have my eye on the 'main' Chase cards there's no point in working off 5/24 just to be told in a couple of years that it was always out of reach anyway. I applied and was approved for the Chase IHG, and while the perks will be moderately helpful the next couple of years the main "perk" is knowing that Freedom/CSP/CSR are likely not forever out of reach (at lease due to my past events). If I choose to, I can somewhat-safely work towards getting under 5/24 knowing that an approval is at least possible.

For people with 'regular' circumstances I would say to just apply for the card you want, but that's just my 2¢.

(Some people might have other subjective considerations (i.e. getting a card that was 'lost' in the past due to hardship, etc.), and that's OK too... we just have to do what's best for each of us.)

Your reasons are excellent reasons to attempt a 'get in' with lenders -- especially Citi, because the card you went for is useful now and the PC options are possible in the future if you choose that path.

In my own credit adventure, I suppose I did do a few things to 'get in' -- I took a Discover It Secured card and a Bank of America Cash Rewards Secured card to 'get in' with those lenders because I know eventually when those cards do eventually unsecure the opportunities are there for growth. But those are secured versions of cards I wanted anyway so no PC necessary on those.

I also have a couple cards I didn't particularly dream about during the process of my rebuild (Cap One secured, which is on the chopping block soon unless the apocalypse happens and they unsecure it but pigs will probably fly first; and Merrick, which will double to match my QS1 (or will likely be just under it by the time it does double, if I can get a CLI from Cap One in December) -- but sometimes things do need to happen in the course of a rebuild). And I suppose could technically speaking could say I "got in" with Cap One by having a secured card for 10 months before I got an unsecured card with them, but I really don't think that mattered as much as the process of positive payment history across the board for the year prior to getting my QS1. And yeah, I got a QS1 hoping to eventually convert it to a QS, but that isn't a rewards structure change to get a card I wanted, it's just to get rid of the annual fee.

As for AMEX, though, I don't think I'll attempt to 'get in' with them through a Delta card simply because I don't really have much of a need for a travel card like that and don't fly Delta anyway (I've got a bunch of AA miles so if I got any airline-specific card it'd be getting in with Citi's AAdvantage card rather than getting in with AMEX). I might change my mind if I ever decide to do any travelling if Citi isn't within reach, but when I eventually do get in with AMEX, I'll probably just go straight for a product that interests me most, which actually changes on occasion so it's probably good I'm not ready for an AMEX yet, haha. Right now I'm thinking ED but a couple months ago it was BCE and I even considered Plenti for a hot second (I have no idea why either, honestly).

Re: Debate topic: is there really such a thing as being "in with Amex"?

redpat — Fri, 21 Oct 2016 09:59:55 GMT

No. Only in someone's imagination.

Re: Debate topic: is there really such a thing as being "in with Amex"?

Anonymous — Fri, 21 Oct 2016 11:47:04 GMT

Good thread OP. I enjoyed reading everyone's responses.

Re: Debate topic: is there really such a thing as being "in with Amex"?

Loquat — Fri, 21 Oct 2016 12:27:30 GMT

I believe a lot of people enjoyed "being in" with Amex because there use to be this perception that American Express was such an elusive card; the king of all credit cards. Back in the day it seems like the name/company carried a lot more weight if you will, than it does today. It could be because the underwriting standards has become a lot more relaxed that it used to be in say the 80's and some parts of the 90's. But now, in my opinion, the Amex name or card doesn't carry the same weight that it use to. There are a lot of nice cards out there that compete and in a matter of perception, are better than products Amex offers. So there are perks that come with it Amex, as mentioned, the HP feature of new accounts, but when I read "in with Amex" my mind immediately goes to the thaughty of a person who's excited to be in with a company who were perceived to be only for the "elite" of the world. But now you can enjoy an Amex product (albeit not the best for some) with subpar scores. I have a coworker who was approved a few months ago for the Gold SkyMiles card with a 630 EX score. His limit is only $1k but I guess he's technically "in" with Amex/Centurion.

Re: Debate topic: is there really such a thing as being "in with Amex"?

AverageJoesCredit — Fri, 21 Oct 2016 12:32:53 GMT

Great points UncleB ,as always , and Michikade!

In the aspect of trying to reestablish a prior relationship i can totally understand the notion of trying to get back "in". I havent given up total hope of getting back an Amex , maybe one day they will send me a mailer like Citi did, but for now i truely am happy with with what i got . One more credit card would only mean one more to find more swipes.

Ive definiitely seen many times here people trying to find that way "in" with Amex by trying to find the easiest cc to get which supposedly is the Delta Gold. When i go to Amex site and see what cards they offer and which one i could use , i see that one and remember myFico fondly. But in reality i dont fly so why would i want to get a card that doesnt suit my spend for the sakes of just having Amex? Perhaps i could later pc it or what not but id prefer to get a card i can use right away then to just have to sd it or to that affect. All props to those who go this route as one should do whats best for oneself, but hopefully when my time comes ill be abble to get the one i want. Great day everyone

Re: Debate topic: is there really such a thing as being "in with Amex"?

redpat — Fri, 21 Oct 2016 12:47:17 GMT

@Loquat wrote:
I believe a lot of people enjoyed "being in" with Amex because there use to be this perception that American Express was such an elusive card; the king of all credit cards. Back in the day it seems like the name/company carried a lot more weight if you will, than it does today. It could be because the underwriting standards has become a lot more relaxed that it used to be in say the 80's and some parts of the 90's. But now, in my opinion, the Amex name or card doesn't carry the same weight that it use to. There are a lot of nice cards out there that compete and in a matter of perception, are better than products Amex offers. So there are perks that come with it Amex, as mentioned, the HP feature of new accounts, but when I read "in with Amex" my mind immediately goes to the thaughty of a person who's excited to be in with a company who were perceived to be only for the "elite" of the world. But now you can enjoy an Amex product (albeit not the best for some) with subpar scores. I have a coworker who was approved a few months ago for the Gold SkyMiles card with a 630 EX score. His limit is only $1k but I guess he's technically "in" with Amex/Centurion.

+1, lol! When about 70% or greater of the eligible population can get an Amex card, what's the in?

I never read or heard of the term using it for credit cards "I'm in with" or "I'm in the front door with" before until I read on these forums.

Maybe when you get your first job, college acceptance or making the team cuts, but never as a term of being approved for a credit card.

Re: Debate topic: is there really such a thing as being "in with Amex"?

AverageJoesCredit — Fri, 21 Oct 2016 13:28:23 GMT

Hit the nail on the head @ Loquat! Lol! Marketing at its best. Ill admit when you hear Amex you think of wow, Amex! I also find it funny how many times in our society, no matter where you live, we always seem to ask , do accept Amex? ( more so than visa/ mastercard, as we normally universally acknowledge that will be accepted) and if a place says no, 1st thing that pops to my mind is probably because Amex will defend the client first , so maybe businesses dont want to contend with that. I know im probably wrong on why a business wont have Amex( a topic for another day haha). But you can see my mentality and im sure many of grew up with that vision of Amex. Its hard to look past that. I agree with many posters that depending on your lifestyle and spend there are better cards for you elsewhere so one shouldnt have Amex see all be all. Im sure they can be great to one just as Citi could be or Chase, etc. Thats the one thing i thing Amex should capitilize more on is that it does have that "aura" still about it, even though that is no longer the truth. Ahhh, the epic story that is Amex

Re: Debate topic: is there really such a thing as being "in with Amex"?

grillandwinemaster — Fri, 21 Oct 2016 14:03:06 GMT

@wasCB14 wrote:
With backdating gone, "being in" doesn't mean what it once did.

I agree with CB. I had an Amex back in 1998 with perfect payment history. I closed it and then a year later filed for bk. Amex was NOT affected. However, with backdating gone, there's zero motivation for ME to take THEM back in!

Re: Debate topic: is there really such a thing as being "in with Amex"?

iced — Fri, 21 Oct 2016 14:42:43 GMT

I don't look at it as being in with a bank like AmEx, but rather as banks being in with me.

Re: Debate topic: is there really such a thing as being "in with Amex"?

AverageJoesCredit — Fri, 21 Oct 2016 15:47:15 GMT

@ Iced

NICE !!!!!!

Re: Debate topic: is there really such a thing as being "in with Amex"?

Anonymous — Fri, 21 Oct 2016 15:51:46 GMT

I have noticed that the Delta Gold gets mentioned a lot around these forums. Is it really the easiest Amex to acquire?