topic Re: American Express Card in Credit Cards

American Express Card

ladyvg270 — Wed, 31 Dec 2008 20:31:53 GMT

Hello!

I would like to know is it anyone out there who had to try hard to get there score up to receive an american express card, if so, what does your score have to be around to receive an american express card.

Re: American Express Card

Mark_in_Pasadena — Wed, 31 Dec 2008 20:37:06 GMT

@ladyvg270 wrote:
Hello!

I would like to know is it anyone out there who had to try hard to get there score up to receive an american express card, if so, what does your score have to be around to receive an american express card.

I don't know the exact score, but the easiest of the AMEX cards to get approved for is the Delta Skymiles card. If you try for one, that would be it, but I'd do it once you get closer to the 700s, not were you're currently at.

Re: American Express Card

Anonymous — Wed, 31 Dec 2008 20:43:40 GMT

Generally its good to be around the 680's with no severe delinquents, BK, recent collections, and CO's. Is there a particular reason why you want an AMEX? Which one of their products did you have in mind?

Re: American Express Card

manyquestions — Wed, 31 Dec 2008 23:09:49 GMT

They pull Experian, so you will need to get your Experian up close to 700. Along with the Delta Gold revolving card, the AMEX Green charge card in the past has been pretty easy to get, that was in the past, don't know about today or tomorrow. Why do you want an AMEX?

Re: American Express Card

GFer — Thu, 01 Jan 2009 01:12:40 GMT

I don't have an answer or any wisdom about this (I, of course don't have one (thank goodness?! LOL).

I was just amused that a little more than 6 months ago, everyone would be telling you how awesome they are and now folks are asking "...why do you want one?..." LOL

Re: American Express Card

Anonymous — Thu, 01 Jan 2009 01:20:02 GMT

I do not know what all the hype is about AMEX. I never had the card. They send me pre approved offers a few times a year and I shred them.

Now I see the are doing CLD's on alot of people. Now I am sure glad I never applied for that card

Re: American Express Card

ladyvg270 — Fri, 02 Jan 2009 23:12:42 GMT

I just heard that american express cards was a great card to have. Do you have one? If so what was your score at the time? and what is it now?

Re: American Express Card

ladyvg270 — Fri, 02 Jan 2009 23:16:24 GMT

how did you get your score so high please give me some advice?

Re: American Express Card

smallfry — Fri, 02 Jan 2009 23:17:21 GMT

I do not think there really is any score that guarantees a card. My 18 yo with NO prior history was just approved for Blue Sky. I am sure it will be a low limit card with mid or top interest rate tier after the 1 year 0% intro period is over. So Daddy gets to be AU on baby's card. LOL.

Message Edited by smallfry on 01-02-2009 06:17 PM

Re: American Express Card

Anonymous — Fri, 02 Jan 2009 23:33:26 GMT

They've tightened up now that their default rate is in the 6% area, which is high for them. They made the mistake of focusing on FICO too much when they grew their card base the last five years, which has really burned them. There were a lot of people with great FICOs but spending beyond their means and now they are defaulting. My guess is AMEX is looking at a lot more than just FICO now but you will probably need at least a 680 to even be considered.

In terms of how they are, Amex has better customer service than Visa or MC. Amex is a charge card which means you have to pay it off in full each month. This leads to a better relationship with them because it is a straight forward system - there isn't this game of teaser rates and late fees like there is with MC, Visa and other revolving cards. I think we all resent the games Visa and MC play. There isn't any of that at AMEX which I appreciate. Off course, this means you have to pay off your card at the end of the month, which if you are new to charge cards, is probably a good habit to get into anyway. The downside of AMEX is they send you an endless supply of junk mail and after being a good customer for a while, they are always trying to upgrade you to more expensive cards that you don't need, such as the gold card or platinum card....."be part of an exclusive group of members who..blah blah blah." These cards are overpriced and provide no meaningful benefit.

The other thing to keep in mind that I just learned is that they don't report a credit limit to FICO so FICO takes the month with the highest balance and uses that as your limit. This can lead to your utilization rate being exaggerated if you are mindful of when you pay your card off, etc.

Re: American Express Card

smallfry — Fri, 02 Jan 2009 23:41:41 GMT

Dempsy AmEx does issue revolvers as well as charge cards ya know.

Re: American Express Card

Anonymous — Fri, 02 Jan 2009 23:59:31 GMT

Yes, the Blue Card, so there is that option. I haven't used it so I can't say whether it is better or worse than competing revolvers.

Re: American Express Card

Anonymous — Sat, 03 Jan 2009 00:55:12 GMT

@ladyvg270 wrote:
how did you get your score so high please give me some advice?

My credit history is 31 years one month old and that Visa card is still open. I pay ontime etc. Anyone can have a high score, you just have to pay ontime, never have a collection etc.

Re: American Express Card

Anonymous — Sat, 03 Jan 2009 01:03:39 GMT

@Anonymous wrote:
Yes, the Blue Card, so there is that option. I haven't used it so I can't say whether it is better or worse than competing revolvers.
... and the Blue Cash, and the Blue Sky, and the Delta SkyMiles Gold, and the Delta SkyMiles (Gold, Platinum and Reserve) and the Clear, and the JetBlue, and the Hilton HHonors, and the Costco TrueEarnings, and the Starwood card... yeah, there's quite a few AmEx so-called credit cards. But all evidence suggests they'd really rather you pay in full every month, regardless.

Re: American Express Card

Anonymous — Sat, 03 Jan 2009 01:05:59 GMT

... apologies, Dempsy444, if the above looked like I was intending to be snarky with you. I promise I wasn't - all snarkiness was aimed in the direction of American Express, I promise!!

Re: American Express Card

Anonymous — Sat, 03 Jan 2009 04:22:40 GMT

Fevmio, no worries. No offense taken. You're right, they certainly have launched a lot of credit cards. They have kind of become the GM of credit cards: too many brands. My sense is they are really struggling internally on what direction the company should go. There are probably some who want Amex's image to be about affluent card members and elite membership if there is such a thing, and others who know they can't grow the business at the rate of Visa and Master Card with such a confining model, and therefore want to expand further into the revolving credit business.

Re: American Express Card

score_building — Sun, 05 Jun 2011 17:09:25 GMT

Membership has its privileges...
Mark-MD wrote:
I do not know what all the hype is about AMEX. I never had the card.

sorry Mark-MD, i couldn't resist, LOL. there's been some recent amex luv posts and must admit have mixed reviews of amex. Loved the brilliant advert campaign tho', (because ALMOST any one would want to have "privilege" they really did some outreach right ther', aint that nuthun' ?

Re: American Express Card

Anonymous — Sat, 03 Jan 2009 12:41:59 GMT

I just got my Amex card back in September ( Optima Platinum) which I see has been removed from their site. I agree with another poster(s) their customer service is way better than any other card I have. I tried for years to get one and could never get one and finally they gave me one and have been very happy with them. I use the card almost exclusively for everything to get points.

I don't think they are just using the score anymore I think they've reverted back to the old way of doing things and actually look at your credit report rather than just taking your Fico score and relying on such a flawed system. Reason I think this is that when I was applying on the phone the woman who was extremely nice, went over some things with me and said my payment history was good and asked why I no longer had a mortgage ( I paid it off and paid cash for my next home). I was put on hold again and she came back and said I was approved. IMO I think more companies are bound to go back to the old tried and true way of offering credit by actually looking and ones credit report over using these stupid numbers as they do not project an actual picture of ones real credit history. I take a hit on my number because I no longer have a mortgage, which makes no sense.

Re: American Express Card

haulingthescoreup — Sat, 03 Jan 2009 13:20:38 GMT

Every CC company/ bank I've ever dealt with has looked at the report as well as the FICO score(s).

That's because a 720 can mean a respectable new credit user, a formerly troubled credit user now reforming, or last week's 820 credit user who just had a collection hit. The number's just part of the story.

Re: American Express Card

Anonymous — Fri, 25 Mar 2011 19:36:37 GMT

I love AMEX. I say jump and they say how high? Not literally but their service is far and above BETTER than any other card. A1 customer service by phone and they ALWAYS take my side in a dispute with a retailer/vendor....no questions asked...REFUND!!! Now I don't do this all the time but I pick my spots and do it carefully. AMEX has never not given me the credit back when I am pissed at a service. (ie. terrible service or food in a restaurant, disputes with vendors over agreed upon price, internet scams etc...) Once I took my skates in to be repaired and we agreed on a price but when I went back to pick them up, the dude at the counter said it was a different price all together?? **bleep**!! I grabbed my hockey skates, paid for them, told him that was not the rate I was quoted?? We argued and I said. "okay you have two choices you little punk, you can adjust the price to what was agreed upon or I can have AMEX do a chargeback?? Your choice!! He called my pluff and 2 days later my credit was given!! hella nice!! haaaaaaaaa!!! Never **bleep** with an AMEX GOLd card customer! I love AMEX and I spend $2000 per month with them and they provide me with free car rental insurance, conceirge and dispute rsoletions!! If the retailer doesn't take AMEX, I don't shop there! I will only use MasteCar dunless I have to and I do use debit cards sometimes too! Now it doesn't hurt that i spent, spent spend and have been a memeber since 2006!

[Edited to remove some inappropriate language. I would also point out that this thread is over two years old. - Lel, FICO Forums moderator]