topic Re: Approved for Amex Green ... and now what? in Credit Cards

Approved for Amex Green ... and now what?

PastorH — Fri, 20 Sep 2013 20:07:27 GMT

Just spoke to a CSR (India) about my application and he said it had been approved today. Hallelujah! Arrives in 7-10 days. Now, just as I've received in my other posts, I need some help deciding the next step. First some details:

New Credit (all in September): Mortgage Re-fi; Oriental Bank Visa (5k); Chase Freedom (2.5k); Amex Green

Old Credit: Chase Amazon Visa (4400 CL / 2800 Bal); JCP (2850 CL / 413 Bal) I have a message thread on PIF.

True Credit monitoring shows Inquiries from Mortgage Bank (TU, EX, EQ), Amex (TU), Chase (TU, EX), Oriental Bank (TU)

Credit Karmas shows TU inquiries for the four above.

FICO/CRA Scores - TU 689/758; EX 683/759; EQ 689/760

Credit Karma - Credit Score TU 708 (???); CU B (40%); Payment History A; Age of Credit History A; Total Accts C; Inquiries C; Derogatory A ... Overall Grade B

FICO - Credit History 22 yrs; AAoA 10 yrs; Last late payment 4yrs 8mos

(none of the above show new accounts activity)

So, now what? Should I apply for anything else? CK suggested a Discover iT. Or should I begin gardening, which I understand means taking good care and letting my profile/history grow.

Please chime in.

Thanks ahead of time.

Re: Approved for Amex Green ... and now what?

Creditaddict — Fri, 20 Sep 2013 20:13:45 GMT

I might go ahead and add Discover now.

do you have purpose for like a Blue Cash Preferred? now that you are an Amex card holder I would apply for the credit card product now if you want one. I probably would have gotten the Gold Charge not the Green as rewards are terrible.

Re: Approved for Amex Green ... and now what?

09Lexie — Fri, 20 Sep 2013 20:14:19 GMT

Question is, do you need an additional card? If so, what are you looking for in a new card ? BT, cashback, rewards, etc.

Re: Approved for Amex Green ... and now what?

BearsAndTurtlesRtheBest — Fri, 20 Sep 2013 20:15:44 GMT

Yes PRG is the one but for now your in with AMEX and id apply for BCP as well as Discover.

Re: Approved for Amex Green ... and now what?

09Lexie — Fri, 20 Sep 2013 20:21:56 GMT

OPs previous post indicated his app issue when applying for Green and trying to get it cancelled and apping for the PRG. It was his mistake and now he is 'stuck' with his original app.

http://ficoforums.myfico.com/t5/Credit-Cards/Need-help-getting-an-AMEX/m-p/2436615#M691555

Re: Approved for Amex Green ... and now what?

PastorH — Fri, 20 Sep 2013 20:28:35 GMT

Yes... I sort of got off on the wrong foot with the Amex app (I didn't recognize good advice that was given) and then tried to correct it, only to decide to stay with the original - Green. Well, I'm in now, and later on can apply for another. I guess.

I was thinking the Discover iT. What do you think 09Lexie? All my details are above. (BTW: what's an OP?)

Thanks to all.

Re: Approved for Amex Green ... and now what?

09Lexie — Fri, 20 Sep 2013 20:32:43 GMT

Discover It is a nice card for 0% promo and cashback. The revolving categories and the ability to stack the rewards is a nice feature too.

OP = original post or poster

Re: Approved for Amex Green ... and now what?

PastorH — Fri, 20 Sep 2013 20:41:01 GMT

Thanks. I see that you're gardening. I think that after I make the decision on Discover, I'm headed to the garden.

Just to confirm ... Am I correct?: Gardening is suspending applying for new credit, increases, pc, etc. Caring for accounts and growing credit scores.

In general, considering all the factors, how do my credit scores look?

Re: Approved for Amex Green ... and now what?

BearsAndTurtlesRtheBest — Fri, 20 Sep 2013 20:37:35 GMT

+1 increases are included if it requires a HP, if SP then your good

Re: Approved for Amex Green ... and now what?

09Lexie — Fri, 20 Sep 2013 20:39:33 GMT

Gardening is taking the time to let new accts/inq's age. Asking for or getting so CLI's and if you have any baddies-letting them age off.

Re: Approved for Amex Green ... and now what?

SuperKirby — Fri, 20 Sep 2013 20:56:02 GMT

Hi OP, me again.

I'm a "put all your points into one basket kind of guy". If you're after rewards, I don't like diluting points to many different programs because it'll take you forever to redeem for something.

I suggest putting all spend on the Green, wait a year, and product change to a PRG (product change requires no new TradeLine and no HP!).

The points in Amex Green are diverse enough, so you're not really "stuck" with just one set of points, if you know what i mean.

Re: Approved for Amex Green ... and now what?

PastorH — Fri, 20 Sep 2013 21:01:54 GMT

Thanks SuperKirby. I appreciate the wisdom.

Re: Approved for Amex Green ... and now what?

PastorH — Fri, 20 Sep 2013 21:07:54 GMT

Hey, I just realized that I got approved for an Amex (albeit the Green for now) and noone has congratulated me! What's up with that??? LOL!

Re: Approved for Amex Green ... and now what?

SuperKirby — Fri, 20 Sep 2013 21:08:34 GMT

@PastorH wrote:
Thanks SuperKirby. I appreciate the wisdom.

NP, and remember, this is only IMO (in my opinion). People have different wants, needs.

Of the 4 cards I use below, i only put spend on 2 of them, and they both go into the same rewards program. I can redeem a good chunk of points multiple times a year!

Re: Approved for Amex Green ... and now what?

SuperKirby — Fri, 20 Sep 2013 21:08:54 GMT

@PastorH wrote:
Hey, I just realized that I got approved for an Amex (albeit the Green for now) and noone has congratulated me! What's up with that??? LOL!

Very funny... GRATS!

Re: Approved for Amex Green ... and now what?

09Lexie — Fri, 20 Sep 2013 21:09:32 GMT

Keep in mind, OP just received Chase Freedom. IMO, each card should be used to fit your spend pattern. The rewards earned on Amex Green are not as rewarding. If you decide to app for Discover make sure the card will fit your needs and the other cards in your portfolio are somehow lacking.

Re: Approved for Amex Green ... and now what?

09Lexie — Fri, 20 Sep 2013 21:10:58 GMT

Sorry, I though I had congratulated you on the other post. My bad.

CONGRATULATIONS and welcome to the Amex Family.

Re: Approved for Amex Green ... and now what?

SuperKirby — Fri, 20 Sep 2013 21:11:59 GMT

@09Lexie wrote:
Keep in mind, OP just received Chase Freedom. IMO, each card should be used to fit your spend pattern. The rewards earned on Amex Green are not as rewarding. If you decide to app for Discover make sure the card will fit your needs and the other cards in your portfolio are somehow lacking.

Yes, know exactly what rewards you want is more important so you'll know exactly what card(s) you'll need. Forgot he just got the Freedom as well. Up to you OP!

Re: Approved for Amex Green ... and now what?

PastorH — Fri, 20 Sep 2013 21:20:49 GMT

thanks for the love guys. most of all for the advice!

Re: Approved for Amex Green ... and now what?

SuperKirby — Fri, 20 Sep 2013 21:33:40 GMT

@PastorH wrote:
thanks for the love guys. most of all for the advice!

Anytime, @09Lexie and I accept all 4 major credit card issuers btw. I go by the hour, i'm not sure about Lexie...