topic Re: Help me with AMEX plan in Credit Cards

Help me with AMEX plan

alakazam — Sat, 14 Jul 2012 01:00:36 GMT

So guys, I am in the garden for a month. I need a plan to get AMEX. My goal is Platinum (Mercedes co-branded) by April at latest. But I want an AMEX in 2012 for sure. This is why I think it's a good idea to start with the Zync. I just need advice on the timing for the app. Since I have "limited" history I don't know if my EX score is up yet since it hasn't been up for 2 months. I only have a score for EQ since my last app 1 month ago. Please help me form a strategy to get an AMEX by end of the year (when to apply, etc) and to get Platinum as fast as possible. Declared I make slightly less than 30K and pay no rent, below is my history:

4/12 - denied Expedia Citi
4/12 - CapitalOne Platinum $500
4/12 - denied CapitalOne VentureOne (auto)
6/14/2012 - denied AMEX Blue Cash Everyday
6/14/2012 - denied Discover Student
6/14/2012 - TU 658
6/15/2012 - denied AMEX Green (auto)
6/15/2012 - denied AMEX Zync (auto)
6/22/2012 - TU 713
6/25/2012 - denied Bank of the West (but applied on much earlier date)

I never carry a balance on my Cap1 and pay it off several times a month due to the low limit.

Re: Help me with AMEX plan

Anonymous — Sat, 14 Jul 2012 01:22:11 GMT

@alakazam wrote:
So guys, I am in the garden for a month. I need a plan to get AMEX. My goal is Platinum (Mercedes co-branded) by April at latest. But I want an AMEX in 2012 for sure. This is why I think it's a good idea to start with the Zync. I just need advice on the timing for the app. Since I have "limited" history I don't know if my EX score is up yet since it hasn't been up for 2 months. I only have a score for EQ since my last app 1 month ago. Please help me form a strategy to get an AMEX by end of the year (when to apply, etc) and to get Platinum as fast as possible. Declared I make slightly less than 30K and pay no rent, below is my history:

4/12 - denied Expedia Citi
4/12 - CapitalOne Platinum $500
4/12 - denied CapitalOne VentureOne (auto)
6/14/2012 - denied AMEX Blue Cash Everyday
6/14/2012 - denied Discover Student
6/14/2012 - TU 658
6/15/2012 - denied AMEX Green (auto)
6/15/2012 - denied AMEX Zync (auto)
6/22/2012 - TU 713
6/25/2012 - denied Bank of the West (but applied on much earlier date)

I never carry a balance on my Cap1 and pay it off several times a month due to the low limit.

Stop applying.

Re: Help me with AMEX plan

LS2982 — Sat, 14 Jul 2012 01:26:15 GMT

@alakazam wrote:
So guys, I am in the garden for a month. I need a plan to get AMEX. My goal is Platinum (Mercedes co-branded) by April at latest. But I want an AMEX in 2012 for sure. This is why I think it's a good idea to start with the Zync. I just need advice on the timing for the app. Since I have "limited" history I don't know if my EX score is up yet since it hasn't been up for 2 months. I only have a score for EQ since my last app 1 month ago. Please help me form a strategy to get an AMEX by end of the year (when to apply, etc) and to get Platinum as fast as possible. Declared I make slightly less than 30K and pay no rent, below is my history:

4/12 - denied Expedia Citi
4/12 - CapitalOne Platinum $500
4/12 - denied CapitalOne VentureOne (auto)
6/14/2012 - denied AMEX Blue Cash Everyday
6/14/2012 - denied Discover Student
6/14/2012 - TU 658
6/15/2012 - denied AMEX Green (auto)
6/15/2012 - denied AMEX Zync (auto)
6/22/2012 - TU 713
6/25/2012 - denied Bank of the West (but applied on much earlier date)

I never carry a balance on my Cap1 and pay it off several times a month due to the low limit.

Wait until Jan 13' and go for the Zync, do not app for anything else that would pull EX.

Re: Help me with AMEX plan

OhioCPA — Sat, 14 Jul 2012 01:35:01 GMT

Your file seems too thin for any Amex in my opinion. I would apply for either a store card from a jewelry store such as Kays and perhaps a store card backed by GE. The jewelry store card should be a nice limit and the GE card should grow. Then in six to twelve months go for the Zync. After six months with the Zync then go for the Platinum.

Re: Help me with AMEX plan

Anonymous — Sat, 14 Jul 2012 01:39:49 GMT

@alakazam wrote:

So guys, I am in the garden for a month.

With so many denials and NO approvals, please stay in the garden for much longer than a month and, please don't apply for anything else. I hate to see you damage your credit profile any further.

Re: Help me with AMEX plan

searchingfor67 — Sat, 14 Jul 2012 02:14:34 GMT

@OhioCPA wrote:
Your file seems too thin for any Amex in my opinion. I would apply for either a store card from a jewelry store such as Kays and perhaps a store card backed by GE. The jewelry store card should be a nice limit and the GE card should grow. Then in six to twelve months go for the Zync. After six months with the Zync then go for the Platinum.

€€+1

Re: Help me with AMEX plan

searchingfor67 — Sat, 14 Jul 2012 02:21:07 GMT

@searchingfor67 wrote:

@OhioCPA wrote:
Your file seems too thin for any Amex in my opinion. I would apply for either a store card from a jewelry store such as Kays and perhaps a store card backed by GE. The jewelry store card should be a nice limit and the GE card should grow. Then in six to twelve months go for the Zync. After six months with the Zync then go for the Platinum.

+1

Re: Help me with AMEX plan

gettnthere — Sat, 14 Jul 2012 02:22:18 GMT

+100. The inq"s alone are gonna kill your thin file if u don't stop

Re: Help me with AMEX plan

searchingfor67 — Sat, 14 Jul 2012 02:22:39 GMT

+1000

@Anonymous wrote:
@alakazam wrote:

So guys, I am in the garden for a month.
With so many denials and NO approvals, please stay in the garden for much longer than a month and, please don't apply for anything else. I hate to see you damage your credit profile any further.

*1000

Re: Help me with AMEX plan

android01 — Sat, 14 Jul 2012 02:30:21 GMT

@alakazam wrote:
So guys, I am in the garden for a month. I need a plan to get AMEX. My goal is Platinum (Mercedes co-branded) by April at latest. But I want an AMEX in 2012 for sure. This is why I think it's a good idea to start with the Zync. I just need advice on the timing for the app. Since I have "limited" history I don't know if my EX score is up yet since it hasn't been up for 2 months. I only have a score for EQ since my last app 1 month ago. Please help me form a strategy to get an AMEX by end of the year (when to apply, etc) and to get Platinum as fast as possible. Declared I make slightly less than 30K and pay no rent, below is my history:

4/12 - denied Expedia Citi
4/12 - CapitalOne Platinum $500
4/12 - denied CapitalOne VentureOne (auto)
6/14/2012 - denied AMEX Blue Cash Everyday
6/14/2012 - denied Discover Student
6/14/2012 - TU 658
6/15/2012 - denied AMEX Green (auto)
6/15/2012 - denied AMEX Zync (auto)
6/22/2012 - TU 713
6/25/2012 - denied Bank of the West (but applied on much earlier date)

I never carry a balance on my Cap1 and pay it off several times a month due to the low limit.

I agree with everyone else, STOP APPLYING. It does more damage than good. Good credit is not a short term deal. You have to start somewhere, which you have with Cap One. Your time frame for getting additional CL's is 1 to 2 years.

Re: Help me with AMEX plan

webhopper — Sat, 14 Jul 2012 03:54:11 GMT

Why do you need a plat card with such a limited income? And I think you should garden 6 months

Re: Help me with AMEX plan

Anonymous — Sat, 14 Jul 2012 04:29:04 GMT

Dang buddy stop applying wow!

Your very commited to getting that card I see but just take a little breather and listen to some of the advice everyone is giving you. Time is your friend!

Re: Help me with AMEX plan

trumpet-205 — Sat, 14 Jul 2012 04:37:53 GMT

@alakazam wrote:
So guys, I am in the garden for a month. I need a plan to get AMEX. My goal is Platinum (Mercedes co-branded) by April at latest. But I want an AMEX in 2012 for sure. This is why I think it's a good idea to start with the Zync. I just need advice on the timing for the app. Since I have "limited" history I don't know if my EX score is up yet since it hasn't been up for 2 months. I only have a score for EQ since my last app 1 month ago. Please help me form a strategy to get an AMEX by end of the year (when to apply, etc) and to get Platinum as fast as possible. Declared I make slightly less than 30K and pay no rent, below is my history:

4/12 - denied Expedia Citi
4/12 - CapitalOne Platinum $500
4/12 - denied CapitalOne VentureOne (auto)
6/14/2012 - denied AMEX Blue Cash Everyday
6/14/2012 - denied Discover Student
6/14/2012 - TU 658
6/15/2012 - denied AMEX Green (auto)
6/15/2012 - denied AMEX Zync (auto)
6/22/2012 - TU 713
6/25/2012 - denied Bank of the West (but applied on much earlier date)

I never carry a balance on my Cap1 and pay it off several times a month due to the low limit.

Stop applying. In fact you will not get AMEX in the year of 2012. You did a lot of damage to your CR by applying frequently.

Also what possible reason do you need AMEX Platinum when you have low income?

Re: Help me with AMEX plan

alakazam — Sat, 14 Jul 2012 04:50:39 GMT

I did stop applying indeed. I hadn't applied for anything since 2009 when I moved back to USA. Too bad I had no card then so no credit was building for 3 years... I just recently found out about the benefits of some CC.

Also, I need the Platinum card for the features. The $450 fee (or $475 for the Mercedes co-branded) is chump change. I do have additional cash income as well. It's just stupid as I do charges in the high 100's and 1000's on my debit card and it would be usefull to at least get some sort of reward mechanism back. I guess I'll keep waiting and using+refilling my $500 Cap1 every week.

Re: Help me with AMEX plan

trumpet-205 — Sat, 14 Jul 2012 04:54:06 GMT

@alakazam wrote:
I did stop applying indeed. I hadn't applied for anything since 2009 when I moved back to USA. Too bad I had no card then so no credit was building for 3 years... I just recently found out about the benefits of some CC.

Also, I need the Platinum card for the features. The $450 fee (or $475 for the Mercedes co-branded) is chump change. I do have additional cash income as well. It's just stupid as I do charges in the high 100's and 1000's on my debit card and it would be usefull to at least get some sort of reward mechanism back. I guess I'll keep waiting and using+refilling my $500 Cap1 every week.

As in you will take advantage of Platinum, such as lounge access? Or are you simply in for collecting rewards? You will not be able to offset annual fee if it is later.

Re: Help me with AMEX plan

Anonymous — Sat, 14 Jul 2012 05:08:18 GMT

@LS2982 wrote:
@alakazam wrote:
So guys, I am in the garden for a month. I need a plan to get AMEX. My goal is Platinum (Mercedes co-branded) by April at latest. But I want an AMEX in 2012 for sure. This is why I think it's a good idea to start with the Zync. I just need advice on the timing for the app. Since I have "limited" history I don't know if my EX score is up yet since it hasn't been up for 2 months. I only have a score for EQ since my last app 1 month ago. Please help me form a strategy to get an AMEX by end of the year (when to apply, etc) and to get Platinum as fast as possible. Declared I make slightly less than 30K and pay no rent, below is my history:

4/12 - denied Expedia Citi
4/12 - CapitalOne Platinum $500
4/12 - denied CapitalOne VentureOne (auto)
6/14/2012 - denied AMEX Blue Cash Everyday
6/14/2012 - denied Discover Student
6/14/2012 - TU 658
6/15/2012 - denied AMEX Green (auto)
6/15/2012 - denied AMEX Zync (auto)
6/22/2012 - TU 713
6/25/2012 - denied Bank of the West (but applied on much earlier date)

I never carry a balance on my Cap1 and pay it off several times a month due to the low limit.
Wait until Jan 13' and go for the Zync, do not app for anything else that would pull EX.

More like wait til August 2013 until all the inquiries are a year old. And your income is way too low for the Platinum. Even if you had stellar credit, you would still be denied for a 30k income. So try to look for a higher income reporting job and you probably need to garden for awhile. From the looks of it, you could probably grow a tree in your garden by the time they will give you a platinum card.

Re: Help me with AMEX plan

Anonymous — Sat, 14 Jul 2012 06:18:51 GMT

I 100% agree that you NEED to stop applying and grow your history. You need at least 1 year of history in order to show responsibility with payments and the like. I would absolutely agree that you need to start with the Zync (at least 1 yr from now as previously stated) and then go for the platinum if you so choose. I am a college student and make ~15k a year, but I was approved for the Zync due to my great history. I would also suggest getting a store card before the end of the year in order to expand your portfolio a little - shows ability to handle multiple credit lines. Once you get the store card, wait 6 months before applying for the AMEX.

I am confident that you will be able to get the Zync if you get a store card around December (garden till then!!!) and apply around July since most of the Inq wont be hurting your score. Stay strong and keep away from the credit app websites! - out of site, out of mind!

Re: Help me with AMEX plan

j_casteel — Sat, 14 Jul 2012 12:12:20 GMT

@alakazam wrote:
I did stop applying indeed. I hadn't applied for anything since 2009 when I moved back to USA. Too bad I had no card then so no credit was building for 3 years... I just recently found out about the benefits of some CC.

Also, I need the Platinum card for the features. The $450 fee (or $475 for the Mercedes co-branded) is chump change. I do have additional cash income as well. It's just stupid as I do charges in the high 100's and 1000's on my debit card and it would be usefull to at least get some sort of reward mechanism back. I guess I'll keep waiting and using+refilling my $500 Cap1 every week.

Not sure of your current situation, but both my wife and I have good career jobs making over 6 figures and I wouldn't even say that the $450-$475 AF is "chump change". Of course peoples perceptions of the dollar and priorities in general are different, but unless I knew for a fact that i could utilize the card in a way to offset that ~$500 AF there would be NO way i would get that card even if i were a millionaire. No need to throw money away to look "cool".

Good luck in whatever you decide, but like everyone else I would suggest stop applying then try the Zync next summer and go from there.

-John

Re: Help me with AMEX plan

OhioCPA — Sat, 14 Jul 2012 12:06:37 GMT

@alakazam wrote:
I did stop applying indeed. I hadn't applied for anything since 2009 when I moved back to USA. Too bad I had no card then so no credit was building for 3 years... I just recently found out about the benefits of some CC.

Also, I need the Platinum card for the features. The $450 fee (or $475 for the Mercedes co-branded) is chump change. I do have additional cash income as well. It's just stupid as I do charges in the high 100's and 1000's on my debit card and it would be usefull to at least get some sort of reward mechanism back. I guess I'll keep waiting and using+refilling my $500 Cap1 every week.

With your profile you might qualify for a secured credit card that will give you rewards. I recommend you check around but the BOA secured card has nice benefits and should unsecure after a year.

I am not as critical as the others with your applying for additional credit, you just need to do your homework first and only apply for the credit you have a shot at obtaining. You don't stand a chance with Amex at the moment. You need to build a good history with two to three cards before going after Amex.

Re: Help me with AMEX plan

Jlu — Sat, 14 Jul 2012 13:31:21 GMT

OP: No offense but I would not consider 2% of my annual income to be 'chump change'.