topic Re: I think I made a mistake for applying for Amex card. in Credit Cards

I think I made a mistake for applying for Amex card.

Anonymous — Sat, 08 Aug 2009 01:05:58 GMT

Last night I called and asked for an increase on my chase card and it was approved. Feeling good about that today I got the stupid idea to go for a new amex card. I was instantly approved for the card. I am for some reason feeling guilty about getting the card. I know that amex is not a very good card to get in this economy. How should I start using the card to not cause any AA.

Re: I think I made a mistake for applying for Amex card.

haulingthescoreup — Sat, 08 Aug 2009 01:15:39 GMT

crosbyk1 wrote:
Last night I called and asked for an increase on my chase card and it was approved. Feeling good about that today I got the stupid idea to go for a new amex card. I was instantly approved for the card. I am for some reason feeling guilty about getting the card. I know that amex is not a very good card to get in this economy. How should I start using the card to not cause any AA.

Congrats, hope you stopped puckering up, what'd you get?

IMO, all you can do is all you can do. Treat it as you would any other card. Use it for things that make sense to you. If there is anything to the tales of "first-use" charges, take someone out to eat at a nice place for the first time. Don't carry balances; don't call them up whining or begging or challenging; let them know if you're going out of town.

I do acknowledge that there are many reasons to be wary of AmEx. But when I look back on it, they were just the leader in AA. Plenty more banks have done it since. Treat the account responsibly, as you would with any other account, and keep your credit diversified with good TL's from other banks, so if AmEx weirds out on you, you can just shrug and move on.

Re: I think I made a mistake for applying for Amex card.

Anonymous — Sat, 08 Aug 2009 01:18:55 GMT

Thanks for the kind words. I got the gold rewards card.

Re: I think I made a mistake for applying for Amex card.

haulingthescoreup — Sat, 08 Aug 2009 01:33:59 GMT

crosbyk1 wrote:
Thanks for the kind words. I got the gold rewards card.

Oh, that's a great card! That's what I started with.

Use the fire out of it in the first year, if you got the double points deal. Also, check out the bonus points mall. I wouldn't touch anything with less than 3 points, but if you have females in your life who have birthdays, etc., those 10x points from the florists will make you look good.

When my Gold was 11 months old, I app'd for a Blue, and then I canceled the Gold the next month before the annual fee posted. The Blue shows the month of application (February) and the year that I got the Gold (2008), so it appears on my reports as being a month older than my Gold. Yes, I had a hard on EX for it, but there was no new account ding, and the Blue doesn't have an annual fee, so I'm pretty happy.

I treat AmEx as a very interesting but particularly tricky date. Lots of potential for good times, but lots of potential for excessive drama. If you have an exit strategy, you'll be fine.

Re: I think I made a mistake for applying for Amex card.

Red1Blue — Sat, 08 Aug 2009 01:50:57 GMT

Congrats on the new Amex card. Dont be nervous with the card. Just use it like any other card and just pif when the statement cuts. What evevr happens let it happen. I had long love hate relationship with Amex and I am treating my Amex Business Platinum Card like any other business card.

Re: I think I made a mistake for applying for Amex card.

smallfry — Sat, 08 Aug 2009 01:58:11 GMT

Congrats on the AMEX card.

Re: I think I made a mistake for applying for Amex card.

Anonymous — Sat, 08 Aug 2009 01:58:48 GMT

Thanks

Re: I think I made a mistake for applying for Amex card.

Anonymous — Sat, 08 Aug 2009 02:12:37 GMT

Congratulations!

I would give my eye teeth for an AMEX card. If I could get it reaged to 1978 and reported as such wouldn't care if I had to close it the next day! Unfortunately I may be on the permanent "S" list in AMEX-land. Good enought to get back in with all but them. (I backdoored my way into Chase so who knows about them.)

Re: I think I made a mistake for applying for Amex card.

Anonymous — Sat, 08 Aug 2009 02:15:46 GMT

Is Amex harder then chase?

Re: I think I made a mistake for applying for Amex card.

smallfry — Sat, 08 Aug 2009 02:19:54 GMT

AMEX is the trophy wife. You done good.

Re: I think I made a mistake for applying for Amex card.

Anonymous — Sat, 08 Aug 2009 02:22:25 GMT

I am one of the few on this site that still likes Amex, even after 20 years

I would give your gold charge card a good monthly workout. Charge your utilities, cable, phone, etc on it and PIF. I would rack up as many membership rewards points as you can.

Since this is a charge card, it will not effect your utilization.

Congrats!

Re: I think I made a mistake for applying for Amex card.

Anonymous — Sat, 08 Aug 2009 02:23:21 GMT

@smallfry wrote:
AMEX is the trophy wife. You done good.

I want one of them, too. Preferably one with a good dowry.

Re: I think I made a mistake for applying for Amex card.

score_building — Sat, 08 Aug 2009 02:34:50 GMT

it is still good for diversity (and hopefully for the services it can provide you) even if you have reservations about amex. congrats! i have two amexes (Clear and One cards) on life support, v. good cards that i use lightly but regularly (1-3k per month) but not b4 i check my online acct. status.

nice cards but recently apped a handful of cu to offset big bank overrepresentation in my small roster of cc. GL!

Re: I think I made a mistake for applying for Amex card.

Watchmann — Sat, 08 Aug 2009 03:01:05 GMT

@Scout1965 wrote:
I am one of the few on this site that still likes Amex, even after 20 years

I still like AMEX, too, and that history goes back 29 years. Never been treated badly by them. Other people have had problems with AMEX, but they have been good to me and have never let me down charging a huge purchase on my AMEX charge cards, or on my Gold Rewards card.

Re: I think I made a mistake for applying for Amex card.

Karatz — Sat, 08 Aug 2009 07:42:39 GMT

@smallfry wrote:
AMEX is the trophy wife. You done good.

Until the trophy wife decides to slowly pull away like they are doing to my bro who deserves it way more then I do and at the same time they hitting me with quarterly 1500 CLI. I don't understand women anymore then I do CC's LOL, but besides all this, your fortune is good. Don't spend cash if you can charge and pay the charges in full, and keep the balances low on your cards if you can help it...