topic Re: American Express Charge Card in Credit Cards

American Express Charge Card

Anonymous — Wed, 18 Feb 2009 17:07:48 GMT

I was just wondering if there was a thread I missed about the impact of Charge Cards on your fico score. I've been learning about credit card's impact from this forum, but I'm thinking about getting a charge card.

one negative 6 years ago 30 days late

about to pay credit cards down to these levels:

USAA MasterCard / American Express to 29% each utilization

BOA to 0% utilization

American Express Blue Cash 27% utilization

Over all utilization over all cards 16%

13 year credit length

5 year average credit history for cards

I want the best cards on the market, and I think I could get just about any card I want next month after the statements reflect on my credit report.

right now I'm at 99% utilization across all cards, but next week I'll pay down to the above levels, which should I think increase my fico from 661 to at least 750+, but I'll let you know when my info gets updated... it'll be a nice experiment to see just how much of an impact utilization has on your fico score.

Re: American Express Charge Card

Anonymous — Wed, 18 Feb 2009 17:42:20 GMT

with so many horror stories, shady moves, i don't understand how could one possibly even consider an American Express for a new card.

i just don't understand, someone please explain to me hah

is it the image of pulling out an Amex? really those days are long gone...unless it's a Centurion...

i'd really look at US Bank, quality, quality and stability...

Re: American Express Charge Card

CHARGE_IT — Wed, 18 Feb 2009 20:06:14 GMT

A simplistic and theoretical view: I like chocolate and you tell me that you and fifty of your friends don't.

Should I not have chocolate anymore because of what you have told me.

I don't think so. Both chocolate and American Express have brought me great pleasure for many years.

(the part about chocolate is not theoretical at all)

@Anonymous wrote:
with so many horror stories, shady moves, i don't understand how could one possibly even consider an American Express for a new card.
i just don't understand, someone please explain to me hah
is it the image of pulling out an Amex? really those days are long gone...unless it's a Centurion...
i'd really look at US Bank, quality, quality and stability...

Re: American Express Charge Card

Anonymous — Wed, 18 Feb 2009 20:23:10 GMT

@CHARGE_IT wrote:

A simplistic and theoretical view: I like chocolate and you tell me that you and fifty of your friends don't.

Should I not have chocolate anymore because of what you have told me.

I don't think so. Both chocolate and American Express have brought me great pleasure for many years.

(the part about chocolate is not theoretical at all)

CI

LOL. A++++

I like Amex because purchases place on AU's cards will be on their own sections under their own names. So it's very easy to manage.

Re: American Express Charge Card

Anonymous — Wed, 18 Feb 2009 21:23:31 GMT

My American Express Blue Cash is by far the best card I have... I love when you make a payment it is instantly credited to your account in Credit Available. Then the money is taken out of your account a couple days later, but if you want to make a purchase you can just check your credit available, and make a payment everyday if you want.. I love that.

Of course like most of the people on this forum that are completely Anti-American Express, my CL was decreased from $6200 to $900, because I ran up high utilization on my other cards. Now most of these people are pissed at American Express for looking at their credit Report and saying, "This person shouldn't be authorized $8000, when they already have $12000 in credit card debt." Now go figure a company would want to limit it's liability!! They gave me a good interest rate 11.9% considering my fico was 670 (equifax) when I changed rebate plans. In all they have done me alright. I would rate them as one of the top credit card companies.

I have a Bank of America Credit Card, and thought they were ok at first, but not anymore. I'm waiting for my other cards to age a little bit, and then Bank of America gets the axe. Bank of American Credit Cards are actually managed by a company call FIA.

So I'm in search of the best cards I can get, and just be happy with a couple good companies.

People may not think about this but you're in business with whoever company's card you use. They make money because you use their card, so even though they extend you credit. It really should be a beneficial relationship for both parties.

USAA has a great card, because they treat their customers well, and don't have really high interest rates. Mine are at 11.9%.

American Express is at the top.

I'm hoping to get a discover card in the next year. I think their rebate program is better than American Express, but I want to find out myself...

Message Edited by matheinas on 02-18-2009 04:23 PM

Re: American Express Charge Card

Anonymous — Wed, 18 Feb 2009 21:55:07 GMT

I just found this post from another forum I'd like to share. It covered everything I originally wanted to know.

www.flyertalk.com

http://www.flyertalk.com/forum/american-express-membership-rewards/682073-amex-charge-card-vs-credit-card-affect-us-credit-score.html

Message Edited by matheinas on 02-18-2009 04:54 PM

Message Edited by matheinas on 02-18-2009 04:55 PM