topic Re: Amex green card in Credit Cards

Amex green card

Anonymous — Fri, 18 Oct 2013 17:46:15 GMT

My credit history is pretty limited. I only have one credit card through discover that's been open for about 4 months and a few student loans that are still in deferment because I am still in school. Yesterday I got letter in the mail from Amex trying to get me to apply for the Green Card. The annual fee for the first year was waived but there was no sign up bonus. I looked into the card and I'm not interested in the Green Card but wondered what my chances of getting approved for another amex such as the BCE of Delta skymiles.

Thanks in advance

Re: Amex green card

Creditaddict — Fri, 18 Oct 2013 17:52:28 GMT

Do you have a credit score?

What is your Discover limit?

You would probably be good for the Gold Premier Rewards Charge also... then if approved for that you could try for Blue or Delta and cancel the gold before year is up and AF bills.

Re: Amex green card

Anonymous — Fri, 18 Oct 2013 17:56:46 GMT

I don't have my current score but when discover approved me for a $1500 limit four months ago my score was 679

Re: Amex green card

09Lexie — Fri, 18 Oct 2013 17:59:57 GMT

The revolvers would require a longer credit history than 4 mos. if you really want a revolver, wait another 2-4 mos.

Re: Amex green card

Anonymous — Fri, 18 Oct 2013 18:00:08 GMT

Also I've had no lates and always PIF

Re: Amex green card

missambitious — Fri, 18 Oct 2013 19:42:44 GMT

Delta is pretty easy to get in with, but if you do go for the green you could always wait til you've had it a year and try for the bce while you have the green (to make a denial a soft) I would wait until you were closer to the one year mark for your discover and hope for an auto cli since they are known for those. You'll have a better chance because AMEX likes history. In the meantime keep PIF & low reported util because of your def student loans. Good Luck!

Re: Amex green card

Anonymous — Fri, 18 Oct 2013 19:48:46 GMT

You would probably get approved for the green card, I did with a score around yours, although I do have more credit history.

Does anybody know if it's possible or even worth it to upgrade a charge card to gold rewards maybe?

I think its cool that I have AMEX Green. Applied back in August via invitation letter just to see where I stand in the credit game. Instant approval, but without a rewards program, a charge card to me is pretty useless, not to mention a $95 dollar fee due next year.

Would I be eligible for upgrade at the 6 month mark?

Re: Amex green card

09Lexie — Fri, 18 Oct 2013 19:49:29 GMT

I would never upgrade a charge card and lose out on the sign up bonus. But, it is possible it's done all the time.

The UW is the same for all charge cards. IMO, its wiser to app for the card you want and get your sign up bonus.

Re: Amex green card

Anonymous — Fri, 18 Oct 2013 20:09:43 GMT

@09Lexie wrote:
I would never upgrade a charge card and lose out on the sign up bonus. But, it is possible it's done all the time.

The UW is the same for all charge cards. IMO, its wiser to app for the card you want and get your sign up bonus.

I already got my 25k points bonus. If I upgrade, I'm pretty sure it's transferable?

It wouldnt hurt to have more TL's, but I don't want to pay 2 AF's of 95 and presumably 175, especially if a charge card let alone two of them arent that beneficial for FICO purposes. A 175 AF is justifiable with rewards...hence a 95 AF without rewards is not.

Re: Amex green card

09Lexie — Fri, 18 Oct 2013 20:37:16 GMT

The sign up bonus for the PRG includes the AF waiver for the first year. Assuming you haven't paid for the Green card, cancel it before the AF is due. Keep in mind, Amex may not honor a sign up bonus if it falls within a certain timeframe of receiving the first bonus.

Re: Amex green card

navyox — Fri, 18 Oct 2013 21:11:51 GMT

@Anonymous wrote:
@09Lexie wrote:
I would never upgrade a charge card and lose out on the sign up bonus. But, it is possible it's done all the time.

The UW is the same for all charge cards. IMO, its wiser to app for the card you want and get your sign up bonus.
I already got my 25k points bonus. If I upgrade, I'm pretty sure it's transferable?

It wouldnt hurt to have more TL's, but I don't want to pay 2 AF's of 95 and presumably 175, especially if a charge card let alone two of them arent that beneficial for FICO purposes. A 175 AF is justifiable with rewards...hence a 95 AF without rewards is not.

Actually a charge card can be very beneficial for FICO purposes. For one it is is a different type of product, so it shows some diversity to your credit mix. Now some people assume that lack of a reported limit makes it not good for FICO purposes but this is actually what makes it great. Most scoring models ignore charge card balances for utilization purposes, so if you are going to be applying for something you can shift your spending to the charge card and it will effectively lower your utilization.

Re: Amex green card

W0MACK — Fri, 18 Oct 2013 21:32:31 GMT

OP: Getting 'foot in the door' during 2013 will be beneficial for future Amex's due to back-dating feature. Also Amex is willing to give a charge card to many customers who frankly wouldn't get approved for one of their revolvers. Take the no AF green card offer, use card for 4-6 months wisely and then app for desired revolver.

Charge cards are very useful for utilization purposes as another poster mentioned. Amex loves their charge cards, they hold the reins on the limits, get paid in 1 billing cycle, and collect a substantial AF.

Re: Amex green card

Pat94108 — Fri, 18 Oct 2013 21:35:34 GMT

@W0MACK wrote:
OP: Getting 'foot in the door' during 2013 will be beneficial for future Amex's due to back-dating feature. Also Amex is willing to give a charge card to many customers who frankly wouldn't get approved for one of their revolvers. Take the no AF green card offer, use card for 4-6 months wisely and then app for desired revolver.

Charge cards are very useful for utilization purposes as another poster mentioned. Amex loves their charge cards, they hold the reins on the limits, get paid in 1 billing cycle, and collect a substantial AF.

+1 ..Some people don't necessarily have the patience but I would do the same.

Re: Amex green card

Anonymous — Fri, 18 Oct 2013 22:57:01 GMT

Well, I still don't think two charge cards are necessary..

Re: Amex green card

navyox — Sat, 19 Oct 2013 12:38:10 GMT

I don't think two charge cards are necessary either, unless you really like MR and use PRG/Plat for a combo of points and perks. However, if the OP has already gotten the 25000 MR from Green signup bonus and has eyes on another charge card, upgrading could make sense.

Re: Amex green card

takeshi74 — Sat, 19 Oct 2013 13:33:02 GMT

+1 to getting a longer credit history established.

@Anonymous wrote:
Also I've had no lates and always PIF

That's good but what it utilization like?

@Anonymous wrote:
Well, I still don't think two charge cards are necessary..

That's fine as necessary varies from person to person. You have to do whatever works for you. Others are just pointing out that there are benefits even though you don't seem to see them.

Re: Amex green card

Anonymous — Thu, 24 Oct 2013 19:25:45 GMT

Yesterday I got a letter in the mail from AMEX trying to get me to apply for the Platinum Delta Skymiles. It had a sign up bonus of 45k points and $100 statement credit. I was interested in the Skymiles card because I already have a lot of miles with Delta but don't spend enough to justify the $150 annual fee. So instead of applying for the Platinum I applied for the Gold with a sign up bonus of $30k miles, $50 statement credit and the annual fee waived for the first year. I was instantly approved with a CL of $3200.

Re: Amex green card

Anonymous — Thu, 24 Oct 2013 20:02:43 GMT

@Anonymous wrote:
Yesterday I got a letter in the mail from AMEX trying to get me to apply for the Platinum Delta Skymiles. It had a sign up bonus of 45k points and $100 statement credit. I was interested in the Skymiles card because I already have a lot of miles with Delta but don't spend enough to justify the $150 annual fee. So instead of applying for the Platinum I applied for the Gold with a sign up bonus of $30k miles, $50 statement credit and the annual fee waived for the first year. I was instantly approved with a CL of $3200.

I've never gotten an offer for the AMEX Delta Platinum. Just the regular Delta Gold with the typical 30k bonus miles/annual fee waived for year 1 :/