topic Re: Can you have two AmEx Revolvers? in Credit Cards

Can you have two AmEx Revolvers?

QueenBeeOC — Wed, 08 Jan 2014 17:05:35 GMT

I am having "credit card remorse" and wish I would of gotten the TE Costco Amex and not the BCE. We are HEAVY costco shoppers/gas station users and hoping we can turn that into some cash back.

Do you think it would be bad to apply for the Costco Amex?

Re: Can you have two AmEx Revolvers?

cottoncrown — Wed, 08 Jan 2014 17:15:32 GMT

Yes, many people have been approved for multiethnic cards just days apart, including myself.

Re: Can you have two AmEx Revolvers?

takeshi74 — Wed, 08 Jan 2014 17:24:29 GMT

@QueenBeeOC wrote:

Do you think it would be bad to apply for the Costco Amex?

Impossible to say with what you've provided in your OP. If your only concern is the number of AmEx revolvers one can have then it's not bad. Once can certainly have 2 AmEx revolvers. I have the BCP and the TE. If there are other potential concerns then we don't have enough info to work with.

TE really isn't all that great on rewards for Costco shopping. Costco gas get 3%, Costco travel gets 2% but regular Costco shopping is only 1%.

@cottoncrown wrote:
Yes, many people have been approved for multiethnic cards just days apart, including myself.

Multiethnic? Must be another DYAC moment.

Re: Can you have two AmEx Revolvers?

QueenBeeOC — Wed, 08 Jan 2014 17:41:12 GMT

@takeshi74 wrote:
@QueenBeeOC wrote:

Do you think it would be bad to apply for the Costco Amex?
Impossible to say with what you've provided in your OP. If your only concern is the number of AmEx revolvers one can have then it's not bad. Once can certainly have 2 AmEx revolvers. I have the BCP and the TE. If there are other potential concerns then we don't have enough info to work with.

TE really isn't all that great on rewards for Costco shopping. Costco gas get 3%, Costco travel gets 2% but regular Costco shopping is only 1%.

@cottoncrown wrote:
Yes, many people have been approved for multiethnic cards just days apart, including myself.
Multiethnic? Must be another DYAC moment.

Let me clarify - Bad = not getting approved, wasting a hard pull inquiry for nothin'. Also bad, if I would to hurt my AAoA. But that's not neither here nor there.. I've already hit it with two new cards.

Now that I see the BCE and TE are the same 1% on costco shopping I am not that worried and I hear Costco Gas still gets the 3% - Never thought I would be in this position 2 years ago when I started rebuilding!

Re: Can you have two AmEx Revolvers?

Anonymous — Wed, 08 Jan 2014 18:11:04 GMT

Good luck with your quandary.

Re: Can you have two AmEx Revolvers?

Anonymous — Wed, 08 Jan 2014 18:44:39 GMT

Yes, you can. I have the TE and the BCE and they were approved one day apart. No issues.

Re: Can you have two AmEx Revolvers?

vagrants — Wed, 08 Jan 2014 23:42:59 GMT

Some say 4 max but some say they have more than 4. Perhaps, people with more than 4 were grandfathered in.

Re: Can you have two AmEx Revolvers?

B335is — Thu, 09 Jan 2014 00:33:04 GMT

@vagrants wrote:
Some say 4 max but some say they have more than 4. Perhaps, people with more than 4 were grandfathered in.

Yeah, I've heard 4 revolvers max as well.

OP, you should go for TE! If it's a denial, it's only a SP.

Re: Can you have two AmEx Revolvers?

Anonymous — Thu, 09 Jan 2014 01:35:16 GMT

IMO the costco amex is the worst amex to use at costco as it yields the lowest % return and you can only collect it once a year. Even a charge card would be better because 1 MR point is more valuable then .01 IMO. The best card to use at costco is the SPG Amex. Many people value a spg point at 2.5 cents. SPG points can be transfered to many airlines at 1:1 ratio and you can redeem 2000 for a night at category 1 hotel. So in summary if you spend a lot at costco i would go for the spg.

Re: Can you have two AmEx Revolvers?

FinStar — Thu, 09 Jan 2014 01:39:40 GMT

@B335is wrote:
@vagrants wrote:
Some say 4 max but some say they have more than 4. Perhaps, people with more than 4 were grandfathered in.
Yeah, I've heard 4 revolvers max as well.

OP, you should go for TE! If it's a denial, it's only a SP.

You can take your current AMEX for a road test and see how it stacks up and decide whether you want to add the TE later. I currently have 4 AMEX revolvers which include the BCP and Costco TE. So yes, you can have more than 2.

Re: Can you have two AmEx Revolvers?

QueenBeeOC — Thu, 09 Jan 2014 03:28:16 GMT

@FinStar wrote:
@B335is wrote:
@vagrants wrote:
Some say 4 max but some say they have more than 4. Perhaps, people with more than 4 were grandfathered in.
Yeah, I've heard 4 revolvers max as well.

OP, you should go for TE! If it's a denial, it's only a SP.

+1

You can take your current AMEX for a road test and see how it stacks up and decide whether you want to add the TE later. I currently have 4 AMEX revolvers which include the BCP and Costco TE. So yes, you can have more than 2.

Is it always a SP if I apply for other Amex products? Good to know! Maybe I will wait...

Re: Can you have two AmEx Revolvers?

FinStar — Thu, 09 Jan 2014 04:55:47 GMT

@QueenBeeOC wrote:
@FinStar wrote:
@B335is wrote:
@vagrants wrote:
Some say 4 max but some say they have more than 4. Perhaps, people with more than 4 were grandfathered in.
Yeah, I've heard 4 revolvers max as well.

OP, you should go for TE! If it's a denial, it's only a SP.

+1

You can take your current AMEX for a road test and see how it stacks up and decide whether you want to add the TE later. I currently have 4 AMEX revolvers which include the BCP and Costco TE. So yes, you can have more than 2.
Is it always a SP if I apply for other Amex products? Good to know! Maybe I will wait...

It's SP if not approved, HP if approved.

Re: Can you have two AmEx Revolvers?

LearningMoreAboutCredit — Sun, 12 Jan 2014 01:49:10 GMT

@FinStar wrote:
@QueenBeeOC wrote:
@FinStar wrote:
@B335is wrote:
@vagrants wrote:
Some say 4 max but some say they have more than 4. Perhaps, people with more than 4 were grandfathered in.
Yeah, I've heard 4 revolvers max as well.

OP, you should go for TE! If it's a denial, it's only a SP.

+1

You can take your current AMEX for a road test and see how it stacks up and decide whether you want to add the TE later. I currently have 4 AMEX revolvers which include the BCP and Costco TE. So yes, you can have more than 2.
Is it always a SP if I apply for other Amex products? Good to know! Maybe I will wait...
It's SP if not approved, HP if approved.

Re: Can you have two AmEx Revolvers?

ficobgtx — Sat, 01 Feb 2014 06:50:33 GMT

@Anonymous wrote:
IMO the costco amex is the worst amex to use at costco as it yields the lowest % return and you can only collect it once a year. Even a charge card would be better because 1 MR point is more valuable then .01 IMO. The best card to use at costco is the SPG Amex. Many people value a spg point at 2.5 cents. SPG points can be transfered to many airlines at 1:1 ratio and you can redeem 2000 for a night at category 1 hotel. So in summary if you spend a lot at costco i would go for the spg.

Or Fidelity Amex. Agree that TE is not great for Costco purchases (except for Costco Gas). But comparing SPG (and the $65 AF) vs Fidelity Amex (no AF) I'm wonder which is better for Costco non-gas purchases. Since I only use Amex at Costco (well, BCP for groceries), I wouldn't be getting a lot of other use out of the cards, so the AF makes a pretty big difference. I use either CSP or Barclay Arrival for all other spending, so not sure I would want another AF card unless it is worth it of course.

Guess I didn't realize I already have 3 AF cards (95+89+75). But I figure if they give value, AF is not a big issue. Arrival may be downgraded before the AF kicks in though.