topic Re: I am in need of an amex, advice needed... please in Credit Cards

I am in need of an amex, advice needed... please

Pupeitmeister — Thu, 02 Jan 2014 02:55:10 GMT

Long story short, I am getting extremely tired of Samsclub as my warehouse store of choice. They just recently finished buliding and opening a brand new costco in town, so I am considering starting to shop there.

They only accept Amex in store though, with exception of debit cards and cash.

I do not wish to get another HP, since the last 3 months have been a whirlwind of activity on my CR and I am in need of gardening AT LEAST until April 1, 2014.

I will be losing 4900 worth of CL when i leave Sams, which ends in March, 2014. I do not wish to pay the 40 bucks minimum membership fee just to keep the card for UTI, since I plan on having my UTI down pretty good by then, and having all my GE cards zero balanced.

Since I plan on waiting for the Amex App, Should I get a "reloadable" cash card from Amex? or should I just plan on using debit card? I am trying to still maximize points from Chase, or from NFCU Cashrewards, both of which are Visa cards.

I do not know if this is unethical, or frowned upon, or if i would even get reward points for spending this way, but I could easily get a $500.00 cash card to use at Costco, and that would cover my monthly warehouse club expenditures, until such time as I can app for a BCE with a decent approval chance.

Is this a viable workaround? Any advice/Constructive Criticism is welcomed.

Thanks in advance

Pup

Re: I am in need of an amex, advice needed... please

FocusedAndDetermined — Thu, 02 Jan 2014 03:03:54 GMT

When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 03:05:10 GMT

If your scores are current, they don't really seem in the range where Amex is traditionally inclined to show love. A reloadable Amex will get the job done without taking another HP.

A lot of people would disagree with this opinion but, $40 might be worth paying to keep the CL open while your score rebounds.

Re: I am in need of an amex, advice needed... please

Pupeitmeister — Thu, 02 Jan 2014 03:06:37 GMT

@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards

Re: I am in need of an amex, advice needed... please

Pupeitmeister — Thu, 02 Jan 2014 03:11:39 GMT

@Anonymous wrote:
If your scores are current, they don't really seem in the range where Amex is traditionally inclined to show love. A reloadable Amex will get the job done without taking another HP.

A lot of people would disagree with this opinion but, $40 might be worth paying to keep the CL open while your score rebounds.

I don't technically "need" the CL, since i added 26.4k worth of CL in 2013, i can stand to lose 5k, BUT.. I don't WANT to lose the 5k .. LOL.. I guess i could call it an "annual fee" to maintain the CL, even If i don't use the store. Options are still there that way, if i do want to "swing by Samsclub".

I WANT the BCE, but i also need to get much closer to the 700 score mark to be ready for apping for it.

I know good and well if i apped right now they would laugh me back to the house. SO, I am just trying to figure a workaround so i don't have to carry cash. The Debit card is always an option though, I did that for many a year before picking up reward cards. Also, once I establish a relationship with costco, I am sure i would get a preapp for an amex as i did with GE when I go through the line one day.

Re: I am in need of an amex, advice needed... please

longtime_lurker — Thu, 02 Jan 2014 03:12:26 GMT

@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I was gunna do the same!

Serve doesn't charge if you have Direct deposit or push $500/mo through it, and IIRC, they don't charge to reload with a credit card - though it's very possible that can count as a cash advance

Re: I am in need of an amex, advice needed... please

LearningMoreAboutCredit — Thu, 02 Jan 2014 03:15:45 GMT

@Pupeitmeister wrote:
Long story short, I am getting extremely tired of Samsclub as my warehouse store of choice. They just recently finished buliding and opening a brand new costco in town, so I am considering starting to shop there.

They only accept Amex in store though, with exception of debit cards and cash.

I do not wish to get another HP, since the last 3 months have been a whirlwind of activity on my CR and I am in need of gardening AT LEAST until April 1, 2014.

I will be losing 4900 worth of CL when i leave Sams, which ends in March, 2014. I do not wish to pay the 40 bucks minimum membership fee just to keep the card for UTI, since I plan on having my UTI down pretty good by then, and having all my GE cards zero balanced.

Since I plan on waiting for the Amex App, Should I get a "reloadable" cash card from Amex? or should I just plan on using debit card? I am trying to still maximize points from Chase, or from NFCU Cashrewards, both of which are Visa cards.

I do not know if this is unethical, or frowned upon, or if i would even get reward points for spending this way, but I could easily get a $500.00 cash card to use at Costco, and that would cover my monthly warehouse club expenditures, until such time as I can app for a BCE with a decent approval chance.

Is this a viable workaround? Any advice/Constructive Criticism is welcomed.

Thanks in advance

Pup

Getting an AMEX is, unfortunately, going to cost you a HP even if you're a current AMEX member. It is a SP if you're denied.

If you're meeting a spend requirement with one of your other cards or just for rewards sake, I don't think a AMEX gift card is beyond the realm of possibilties. I'm skeptical of using debit cards due to the lack of protection it provides versus using credit cards.

I wish I had a local Costco (closest 60 mi. away) but I, personally, wouldn't give up my Sam's membership because I like having options. You do what's best for you.

Re: I am in need of an amex, advice needed... please

FinStar — Thu, 02 Jan 2014 03:21:24 GMT

@LearningMoreAboutCredit wrote:
@Pupeitmeister wrote:
Long story short, I am getting extremely tired of Samsclub as my warehouse store of choice. They just recently finished buliding and opening a brand new costco in town, so I am considering starting to shop there.

They only accept Amex in store though, with exception of debit cards and cash.

I do not wish to get another HP, since the last 3 months have been a whirlwind of activity on my CR and I am in need of gardening AT LEAST until April 1, 2014.

I will be losing 4900 worth of CL when i leave Sams, which ends in March, 2014. I do not wish to pay the 40 bucks minimum membership fee just to keep the card for UTI, since I plan on having my UTI down pretty good by then, and having all my GE cards zero balanced.

Since I plan on waiting for the Amex App, Should I get a "reloadable" cash card from Amex? or should I just plan on using debit card? I am trying to still maximize points from Chase, or from NFCU Cashrewards, both of which are Visa cards.

I do not know if this is unethical, or frowned upon, or if i would even get reward points for spending this way, but I could easily get a $500.00 cash card to use at Costco, and that would cover my monthly warehouse club expenditures, until such time as I can app for a BCE with a decent approval chance.

Is this a viable workaround? Any advice/Constructive Criticism is welcomed.

Thanks in advance

Pup

Getting an AMEX is, unfortunately, going to cost you a HP even if you're a current AMEX member. It is a SP if you're denied.

If you're meeting a spend requirement with one of your other cards or just for rewards sake, I don't think a AMEX gift card is beyond the realm of possibilties. I'm skeptical of using debit cards due to the lack of protection it provides versus using credit cards.

I wish I had a local Costco (closest 60 mi. away) but I, personally, wouldn't give up my Sam's membership because I like having options. You do what's best for you.

Well said LearningMoreAboutCredit. We now have 2 COSTCOs here in town and the AMEX TE has been a great asset in that sense. Do you currently have an AMEX relationship Pup?

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 03:31:43 GMT

@Pupeitmeister wrote:
@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards

Yes, you can and apart from the reduced protection from not using a credit card, it's fine. Get a Bluebird from Amex (free, no credit check). If rewards aren't important,

you can then load some money from your bank account and use it at Cosco. Otherwise, you can see if you can buy Vanilla Reloads with your credit card, a $500 load costs $3.95, so with a 1% Freedom you would make a slight profit. If you have a card that gives more than 1% at places that sell them, so much the better.

Re: I am in need of an amex, advice needed... please

LearningMoreAboutCredit — Thu, 02 Jan 2014 03:43:39 GMT

@Anonymous wrote:
@Pupeitmeister wrote:
@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards
Yes, you can and apart from the reduced protection from not using a credit card, it's fine. Get a Bluebird from Amex (free, no credit check). If rewards aren't important,
you can then load some money from your bank account and use it at Cosco. Otherwise, you can see if you can buy Vanilla Reloads with your credit card, a $500 load costs $3.95, so with a 1% Freedom you would make a slight profit. If you have a card that gives more than 1% at places that sell them, so much the better.

I bet the 40 million, who knows how many of those used the debit card version of redcard, were affected by the Target debacle would disagree...no offense.

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 03:48:20 GMT

@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@Pupeitmeister wrote:
@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards
Yes, you can and apart from the reduced protection from not using a credit card, it's fine. Get a Bluebird from Amex (free, no credit check). If rewards aren't important,
you can then load some money from your bank account and use it at Cosco. Otherwise, you can see if you can buy Vanilla Reloads with your credit card, a $500 load costs $3.95, so with a 1% Freedom you would make a slight profit. If you have a card that gives more than 1% at places that sell them, so much the better.
I bet the 40 million, who knows how many of those used the debit card version of redcard, were affected by the Target debacle would disagree...no offense.

Bluebird is prepaid, not a true debit. Your bank account is not at risk, only whatever the balance stored on your card (which you should keep low anyway). I have $1.02 on mine, losing that is probably less hassle than reporting fraudulent transactions to a credit card company!

Re: I am in need of an amex, advice needed... please

LearningMoreAboutCredit — Thu, 02 Jan 2014 03:52:08 GMT

@Anonymous wrote:
@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@Pupeitmeister wrote:
@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards
Yes, you can and apart from the reduced protection from not using a credit card, it's fine. Get a Bluebird from Amex (free, no credit check). If rewards aren't important,
you can then load some money from your bank account and use it at Cosco. Otherwise, you can see if you can buy Vanilla Reloads with your credit card, a $500 load costs $3.95, so with a 1% Freedom you would make a slight profit. If you have a card that gives more than 1% at places that sell them, so much the better.
I bet the 40 million, who knows how many of those used the debit card version of redcard, were affected by the Target debacle would disagree...no offense.
Bluebird is prepaid, not a true debit. Your bank account is not at risk, only whatever the balance stored on your card (which you should keep low anyway). I have $1.02 on mine, losing that is probably less hassle than reporting fraudulent transactions to a credit card company!

I was referring to debit cards and besides OP wants to earn rewards.

Re: I am in need of an amex, advice needed... please

Pupeitmeister — Thu, 02 Jan 2014 04:03:08 GMT

@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@Pupeitmeister wrote:
@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards
Yes, you can and apart from the reduced protection from not using a credit card, it's fine. Get a Bluebird from Amex (free, no credit check). If rewards aren't important,
you can then load some money from your bank account and use it at Cosco. Otherwise, you can see if you can buy Vanilla Reloads with your credit card, a $500 load costs $3.95, so with a 1% Freedom you would make a slight profit. If you have a card that gives more than 1% at places that sell them, so much the better.
I bet the 40 million, who knows how many of those used the debit card version of redcard, were affected by the Target debacle would disagree...no offense.
Bluebird is prepaid, not a true debit. Your bank account is not at risk, only whatever the balance stored on your card (which you should keep low anyway). I have $1.02 on mine, losing that is probably less hassle than reporting fraudulent transactions to a credit card company!
I was referring to debit cards and besides OP wants to earn rewards.

Learningmoreaboutcredit was meaning I could earn rewards by purchasing a "prepaid" bluebird card, and then buying the "reload card" from a location that sells them, such as CVS or any other retail outlet that sells the reload cards, instead of linking it. It costs me 3.95 for a $500.00 reload, but by purchasing that with my Freedom, I will get back $5., so $1.05 profit, unless I am in a 5% month on that particular card at that particular establishment., in which case I would get $25 back, or $21.05 profit.

I think it is a little confusing, but It would also be better then swiping my "debit" card, for Peace of mind. I would only risk $500.00 instead of access to my entire balance in my checking account.

I am avoiding Debit transactions period. So this is still a viable option, I just have to see who sells the reload cards.

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 04:05:38 GMT

You can order and fund prepaid cards directly from Amex.

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 04:09:04 GMT

@Pupeitmeister wrote:
@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@Pupeitmeister wrote:
@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards
Yes, you can and apart from the reduced protection from not using a credit card, it's fine. Get a Bluebird from Amex (free, no credit check). If rewards aren't important,
you can then load some money from your bank account and use it at Cosco. Otherwise, you can see if you can buy Vanilla Reloads with your credit card, a $500 load costs $3.95, so with a 1% Freedom you would make a slight profit. If you have a card that gives more than 1% at places that sell them, so much the better.
I bet the 40 million, who knows how many of those used the debit card version of redcard, were affected by the Target debacle would disagree...no offense.
Bluebird is prepaid, not a true debit. Your bank account is not at risk, only whatever the balance stored on your card (which you should keep low anyway). I have $1.02 on mine, losing that is probably less hassle than reporting fraudulent transactions to a credit card company!
I was referring to debit cards and besides OP wants to earn rewards.
Learningmoreaboutcredit was meaning I could earn rewards by purchasing a "prepaid" bluebird card, and then buying the "reload card" from a location that sells them, such as CVS or any other retail outlet that sells the reload cards, instead of linking it. It costs me 3.95 for a $500.00 reload, but by purchasing that with my Freedom, I will get back $5., so $1.05 profit, unless I am in a 5% month on that particular card at that particular establishment., in which case I would get $25 back, or $21.05 profit.

I think it is a little confusing, but It would also be better then swiping my "debit" card, for Peace of mind. I would only risk $500.00 instead of access to my entire balance in my checking account.

I am avoiding Debit transactions period. So this is still a viable option, I just have to see who sells the reload cards.

Well, longtermlurker was meaning that, but OK! CVS is a good place for reloads in many areas, but individual stores are allowed to override the corporate policy (which is up to $5K per day, credit cards allowed) so some don't accept credit cards. An alternative is to buy Visa/MC gift cards, often at supermarkets or office supply stores, and load those onto Bluebird at Walmart (although some Walmart's no longer will accept gift cards!)

Re: I am in need of an amex, advice needed... please

Pupeitmeister — Thu, 02 Jan 2014 04:09:15 GMT

@Anonymous wrote:
You can order and fund prepaid cards directly from Amex.

Yes, but i was looking on advice to maximise rewards ... I am still trying to find out if that is a "frowned upon" practice, that could ultimately end up in AA. But its only for a few months anyway, so its not like it will be a constant thing. I will be apping for the BCE in 2014, once i get my UTI back under control.

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 04:11:01 GMT

@Anonymous wrote:
You can order and fund prepaid cards directly from Amex.

Yes, this works too, just make sure your card doesn't count this as a cash advance (Citi and Cap One have been reported as doing this among others). If you do it through a cash back portal you can make a small profit.

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 04:16:38 GMT

@Pupeitmeister wrote:
@Anonymous wrote:
You can order and fund prepaid cards directly from Amex.
Yes, but i was looking on advice to maximise rewards ... I am still trying to find out if that is a "frowned upon" practice, that could ultimately end up in AA. But its only for a few months anyway, so its not like it will be a constant thing. I will be apping for the BCE in 2014, once i get my UTI back under control.

There are ways to make buying gift cards work well, some people buy $5K worth every 7 days, but you can do much less. Key is to go through a cash-back portal.

As for "frowned upon": any purchase of cash equivalents to get rewards is indeed frowned upon by credit card companies. So there is always some risk, but if you do small amounts, especially in your case for only a short time, that risk is insignificant.

Re: I am in need of an amex, advice needed... please

Pupeitmeister — Thu, 02 Jan 2014 04:27:01 GMT

@Anonymous wrote:
@Pupeitmeister wrote:
@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@LearningMoreAboutCredit wrote:
@Anonymous wrote:
@Pupeitmeister wrote:
@FocusedAndDetermined wrote:
When I saw the subject and your name I was about to issue an ERT red alert. As long as you promise to continue gardening until April, O won't sound the alarm.

Why not just use debit card until you app for AMEX? Pre-paid cards charge a fee and don't earn reward points.

I wasn't sure if i could get reward points from chase freedom or from NFCU by using them as my "load from" account.. unless thats considered a no no... Its sort of like the gift card stuff i read about others doing at drugstores to maximize their rewards
Yes, you can and apart from the reduced protection from not using a credit card, it's fine. Get a Bluebird from Amex (free, no credit check). If rewards aren't important,
you can then load some money from your bank account and use it at Cosco. Otherwise, you can see if you can buy Vanilla Reloads with your credit card, a $500 load costs $3.95, so with a 1% Freedom you would make a slight profit. If you have a card that gives more than 1% at places that sell them, so much the better.
I bet the 40 million, who knows how many of those used the debit card version of redcard, were affected by the Target debacle would disagree...no offense.
Bluebird is prepaid, not a true debit. Your bank account is not at risk, only whatever the balance stored on your card (which you should keep low anyway). I have $1.02 on mine, losing that is probably less hassle than reporting fraudulent transactions to a credit card company!
I was referring to debit cards and besides OP wants to earn rewards.
Learningmoreaboutcredit was meaning I could earn rewards by purchasing a "prepaid" bluebird card, and then buying the "reload card" from a location that sells them, such as CVS or any other retail outlet that sells the reload cards, instead of linking it. It costs me 3.95 for a $500.00 reload, but by purchasing that with my Freedom, I will get back $5., so $1.05 profit, unless I am in a 5% month on that particular card at that particular establishment., in which case I would get $25 back, or $21.05 profit.

I think it is a little confusing, but It would also be better then swiping my "debit" card, for Peace of mind. I would only risk $500.00 instead of access to my entire balance in my checking account.

I am avoiding Debit transactions period. So this is still a viable option, I just have to see who sells the reload cards.
Well, longtermlurker was meaning that, but OK! CVS is a good place for reloads in many areas, but individual stores are allowed to override the corporate policy (which is up to $5K per day, credit cards allowed) so some don't accept credit cards. An alternative is to buy Visa/MC gift cards, often at supermarkets or office supply stores, and load those onto Bluebird at Walmart (although some Walmart's no longer will accept gift cards!)

OOPS!.. too many threads going at one time LOL.. Sorry Longtermlurker, I credited the wrong person with what I was reading!..

Re: I am in need of an amex, advice needed... please

Anonymous — Thu, 02 Jan 2014 04:38:13 GMT

@Pupeitmeister wrote:
@Anonymous wrote:
You can order and fund prepaid cards directly from Amex.
Yes, but i was looking on advice to maximise rewards ... I am still trying to find out if that is a "frowned upon" practice, that could ultimately end up in AA. But its only for a few months anyway, so its not like it will be a constant thing. I will be apping for the BCE in 2014, once i get my UTI back under control.

I got the kids cards and re-load them from checking account. Just not a case where I'm really trying to get rewards.

There are people who use rewards cards (in grocery stores) to buy gift cards, but my spending patterns really don't justify that degree of effort.