topic Re: Instant Approval for AMEX! in Credit Cards

Instant Approval for AMEX!

blacklotus — Fri, 02 Jul 2010 16:21:46 GMT

I wasn't going to app AMEX until I saw the Gold Premier Rewards card points system. I have never had an AMEX I cold apped last year for a Blue Cash card and was declined.

My current credit card portfolio is:

Chase Freedom M/C

Citi Platinum Select M/C

BBRZ M/C

Credit Union Classic Visa

I have been checking the AMEX preselected website all year and I never had a preselect offer but it had three recommended cards to app for- I never did. I was mainly loathe to cold-app since I have multiple inquiries on my EX report and one baddie.

Sorry for the long dialogue- I am in shock.

But anyways I was like what the hell my EX report can't get any worse so I cold-apped for the Amex Premier Rewards Gold card a few minutes ago through website.

Congratulations xxxx xxxxx, your application is approved!

We are excited to welcome you to Card membership and all the benefits and services that come with your Card. You should receive your Card in the mail in the next 7 to 10 days. For your protection, your Card will arrive in a plain white envelope from Omaha, NE.

Rationale: Why did I do this? I have never had a charge card and I think it will improve my credit card mix- any thoughts on this!

EDIT: It was a 60 second decision from the website after I clicked "submit app" (a cold one at that). I guess the only drawback (besides $175 AF) is my card is going to read "member since 2010".

Re: Instant Approval for AMEX!

moonman — Wed, 30 Jun 2010 01:41:03 GMT

Congratulations!!! I believe once you build a payment history on the card, it can position you to get a credit card from them down the line.

Re: Instant Approval for AMEX!

blacklotus — Wed, 30 Jun 2010 01:44:43 GMT

I don't want a credit card from them!

My Credit Union Classic Visa has a lower APR than any of their credit cards...

Re: Instant Approval for AMEX!

Anonymous — Wed, 30 Jun 2010 02:16:16 GMT

@blacklotus wrote:
...

Rationale: Why did I do this? I have never had a charge card and I think it will improve my credit card mix- any thoughts on this!

A charge card is different than a credit card. It will improve your mix. Of course, so would the Zync for a lot less money.

Re: Instant Approval for AMEX!

Anonymous — Wed, 30 Jun 2010 03:47:33 GMT

Cool card enjoy. I really like the Amex website. Payments and charges post fast.

Re: Instant Approval for AMEX!

fused — Wed, 30 Jun 2010 04:49:11 GMT

@Anonymous wrote:

A charge card is different than a credit card. It will improve your mix.

I'm not sure about that. I'll do some digging and find out if that is true.

Re: Instant Approval for AMEX!

Anonymous — Wed, 30 Jun 2010 07:43:03 GMT

@Anonymous wrote:

A charge card is different than a credit card. It will improve your mix. Of course, so would the Zync for a lot less money.

The first year of the Premier Rewards Gold is free. If he wants he can product change to Zync before the annual fee hits next year.

Re: Instant Approval for AMEX!

MarineVietVet — Wed, 30 Jun 2010 18:07:39 GMT

@Anonymous wrote:

A charge card is different than a credit card. It will improve your mix. Of course, so would the Zync for a lot less money.

I'm not sure about this either but I'm not saying you are wrong. Do you have any information from a particular site/article/thesis, etc. that talks about this?

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

Re: Instant Approval for AMEX!

blacklotus — Fri, 02 Jul 2010 16:17:51 GMT

Just an update. I feel like waiting in line for a roller coaster ride.

Welcome XXXXX XXXXX. Here is the status of the Card application(s) you submitted to us.

Date Received Card Status of Application Next Step

Jun 29, 2010

PREMIER REWARDS GOLD CARD FROM AMERICAN EXPRESS

Approved

Congratulations! Your application has been approved and you should receive your new card within 7-10 days.

If you requested a balance transfer to this card, click here to view the status of that transfer

The information above is the latest we have regarding your application(s). If you don't see the Card(s) you applied for listed here, or if you have any questions, please call us at 1-866-314-0237 (Mon-Fri 6am-8pm MST).

Also: Regarding the credit card "mix"- I think that for maximal effect it is two major credit bank cards and 1-2 department store cards. This is what I'm wondering is shouldn't having a charge card help your score since it is a completely different animal than a credit card?

Re: Instant Approval for AMEX!

tray — Fri, 02 Jul 2010 19:45:04 GMT

Congratulations I have the premier gold card as well hopefully you was offered the 10,000 reward points with opening this new account. Just make sure you carry no balance when your statement cuts as TU score usually drops with a balance reporting I know it does for me anyway. Also with this card there are no balance transfer options.

Re: Instant Approval for AMEX!

blacklotus — Sat, 03 Jul 2010 16:30:45 GMT

When I apped the offer was 10,000 points after my first purchase- be that a candy bar or an iphone4. I know that there are two different offers- the other one seems to be 15,000 points after you spend $1k within 3 months.

I'll have to wait until my card arrives but I'm pretty sure it's 10,000 points added after first purchase.

Re: Instant Approval for AMEX!

blacklotus — Sat, 03 Jul 2010 16:28:38 GMT

Just to see what would come up I went back to the Amex preselect page- for non-cardholders since I haven't received my card yet and entered the pertinant info. and this is what I got:

We are not able to provide you with any pre-selected Card offers at this time.

If you're already a Cardmember, Click here to view exclusive Cardmember offers.

If you are not a Cardmember, it is possible that:

We were unable to locate your credit history.
Our system may be down.
You may have attempted to qualify for special Card offers within the last 30 days

What is up with this??? This preselect madness must not be working right.

Re: Instant Approval for AMEX!

smallfry — Sat, 03 Jul 2010 16:45:30 GMT

@blacklotus wrote:
Just to see what would come up I went back to the Amex preselect page- for non-cardholders since I haven't received my card yet and entered the pertinant info. and this is what I got:

We are not able to provide you with any pre-selected Card offers at this time.
If you're already a Cardmember, Click here to view exclusive Cardmember offers.
If you are not a Cardmember, it is possible that:
We were unable to locate your credit history.
Our system may be down.
You may have attempted to qualify for special Card offers within the last 30 days
What is up with this??? This preselect madness must not be working right.

You have already been approved the fact your card isn't in your possession yet is immaterial.

Re: Instant Approval for AMEX!

DI — Sun, 04 Jul 2010 18:28:43 GMT

Congratulations! There's nothing like having an AMEX card in one's portfolio.

Re: Instant Approval for AMEX!

blacklotus — Mon, 05 Jul 2010 01:20:14 GMT

Thanks for the replies! I will post follow-up when my card gets here. I just hope Amex doesn't change their minds- EX is my worst score and still has a paid off baddie that had been reaged that I have been diligently trying to correct. Also I had a high number of inquiries because I financed a car last Dec + opened a few new cards AND am currently apartment hunting!!!

Note: Although according to Experian's site a PLUS Score of 728 is considered "excellent".

Re: Instant Approval for AMEX!

blacklotus — Wed, 07 Jul 2010 00:06:31 GMT

I just got my card!

3x points on airfare 2x points on gas & groceries 1x points on everything else. $175 AF waived the first year!

It's a really nice looking card- except mine says "member since 10".

I still like my Citi Platinum Select card though for "oohs and aahs"- I haven't been using it alot but when I do it seems people stare at me like- tell me how to get this!

Re: Instant Approval for AMEX!

blacklotus — Mon, 12 Jul 2010 23:13:59 GMT

UPDATE:

Things I have bought with my Amex Card (not necessarily in this order):

Pizza for my friend and myself and some Cokes (first purchase earning me 10,000 rewards points)

Playstation Network Card with $50 value

A paperback novel

A Blu-ray DVD

(3) packs of Magic: The Gathering cards

(2) bottles of vitamins (I think they threw in an extra bottle as I discovered there were 3 in my bag when I got home)

(2) hard plastic protective cases for my new 32G iPhone4 (which I am NOT having reception problems with)

BTW: AT&T pulls.........(drumroll)..........Experian!

Re: Instant Approval for AMEX!

Anonymous — Tue, 13 Jul 2010 03:22:20 GMT

I love AMEX, but I don't see any value in paying them an outrageous fee for a Gold card. I'd use it fee-free for a year and then cancel. My personal preference in the family is Blue Cash, but it only makes sense if you're a heavy charger.

Re: Instant Approval for AMEX!

Anonymous — Tue, 24 Aug 2010 04:21:04 GMT

The Blue Cash is a great card if you charge a lot. So far this year, 10 months into the years, I charged about $17,000 and have a combined rebate of 1.87%.

If anyone is wondering, I charge everything to the card. If it can be charged, I charge it to the Amex -- period.