topic Re: Best American Express for a NOOB in Credit Cards

Best American Express for a NOOB

Anonymous — Mon, 09 Jun 2014 21:26:49 GMT

Hello, I just applied and received a nice World Mastercard from USAA so I think I'll be gardening for a little bit but in the mean time, I would like to know the thoughts of applying for an American Express and the best one with limited credit history.

Currently I just started to rebuild my credit after taking a break from it all. The worse thing about my credit is limited accounts on file 5, with 4 being active:

Sam's Club $1500 - 2 months

Discover $1500 - 2 months

Capital One Secure $250 - 5 months

USAA World MasterCard $7000 - day before yesterday, lol =)

The inactive account is for an auto loan that was paid off 3 years ago with not missed/late payments.

My credit score for Equifax, according to MyFico is 706, while my Credit Karma Transunion only shows 663. The USAA card is so new that that info hasn't been taken into account as of yet, I imagine I'm going to take an 18 point hit but hopefully the addition of the account with a credit limit more that twice of what I had might help.

Anyways. How long for gardening before reapplying, and which AE do you all think is best? Thank you all!!!! This site and people here are great!

Re: Best American Express for a NOOB

coldnmn — Mon, 09 Jun 2014 21:36:33 GMT

FYI Credit Karma doesn't figure closed accounts for AAoA that's why it's so low. I would hold off applying until all accounts are at least 6 months old.

Re: Best American Express for a NOOB

Anonymous — Mon, 09 Jun 2014 21:47:35 GMT

@coldnmn wrote:
FYI Credit Karma doesn't figure closed accounts for AAoA that's why it's so low. I would hold off applying until all accounts are at least 6 months old.

That's actually the plan - 6 months keeping 0-10% utilization =)

Re: Best American Express for a NOOB

mongstradamus — Mon, 09 Jun 2014 22:20:25 GMT

@Anonymous wrote:
Hello, I just applied and received a nice World Mastercard from USAA so I think I'll be gardening for a little bit but in the mean time, I would like to know the thoughts of applying for an American Express and the best one with limited credit history.

Currently I just started to rebuild my credit after taking a break from it all. The worse thing about my credit is limited accounts on file 5, with 4 being active:

Sam's Club $1500 - 2 months
Discover $1500 - 2 months
Capital One Secure $250 - 5 months
USAA World MasterCard $7000 - day before yesterday, lol =)

The inactive account is for an auto loan that was paid off 3 years ago with not missed/late payments.

My credit score for Equifax, according to MyFico is 706, while my Credit Karma Transunion only shows 663. The USAA card is so new that that info hasn't been taken into account as of yet, I imagine I'm going to take an 18 point hit but hopefully the addition of the account with a credit limit more that twice of what I had might help.

Anyways. How long for gardening before reapplying, and which AE do you all think is best? Thank you all!!!! This site and people here are great!

Well i am quite the noob also as far as amex cards go , you need to describe what kind of card do you want. There are charge cards or revolvers, also do you want cashback, MR, or SPG ?

Re: Best American Express for a NOOB

vygotsky — Tue, 10 Jun 2014 00:06:30 GMT

I would wait for your newest account to be 6 months old before applying for Amex. Best 4 cards IMO:

1. Amex Platinum charge card: MR point, most perks of all the cards but high AF 495$ https://www304.americanexpress.com/credit-card/platinum

2. Amex Blue: NO AF, one of the esiest to obtain ( I personally got with <6 months cc history), not as nice as BCE https://www304.americanexpress.com/credit-card/blue?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore

3. Premier Rewards Gold Card: MR point, similar perks to Plat, 3x points but much lower AF https://www304.americanexpress.com/credit-card/premier-rewards-gold?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore

4. Amex Everyday: NO AF, 20% point bonus after 20+ swipes https://www304.americanexpress.com/credit-card/amex-everyday?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore

IMO if you are a big spender go with the plat, gas and groceres bce or everyday, always pay in full but dont wanna mess with utli % go with PRG.

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:09:46 GMT

Well, I don't do much traveling nowadays but in the past I'd fly from Hawaii to California every other week, lol... Just thinking about the rewards I could have piled up makes me cringe.

I would say cash back at this stage in my life. I also wouldn't mind hotel stay rewards but I also know that all this can be changed in the future. My main concern is getting my foot in the door with American Express.

But like I say, I won't be doing anything for another 6 months until I tend to to some gardening. I'm just trying to do some research right now.

Just for anyone interested, I went to American Expresses' web site. They seem to be shopping for customers with a "soft pull" tactic. Fill out the form and they'll do their best to "help" you pick out a card right for you. They only suggested Green, Gold, or EveryDay Card for me. I guess that tells me I have a ways to go but now that I'm in their system, I'll tend to the gardening and wait for the pre-approvals to be sent to me. Haha, but I wont hold my breath cause 6 months is a long time to hold it for =)

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:13:16 GMT

@vygotsky wrote:
I would wait for your newest account to be 6 months old before applying for Amex. Best 4 cards IMO:

1. Amex Platinum charge card: MR point, most perks of all the cards but high AF 495$ https://www304.americanexpress.com/credit-card/platinum
2. Amex Blue: NO AF, one of the esiest to obtain ( I personally got with <6 months cc history), not as nice as BCE https://www304.americanexpress.com/credit-card/blue?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
3. Premier Rewards Gold Card: MR point, similar perks to Plat, 3x points but much lower AF https://www304.americanexpress.com/credit-card/premier-rewards-gold?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
4. Amex Everyday: NO AF, 20% point bonus after 20+ swipes https://www304.americanexpress.com/credit-card/amex-everyday?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore

IMO if you are a big spender go with the plat, gas and groceres bce or everyday, always pay in full but dont wanna mess with utli % go with PRG.

Blue is, IMO, one of the worst AE cards now. No redeeming features over the much better Everyday. MIGHT be easier than others, but no real point, wait until you can get a better card. No point to the BCE either, for rewards get Sallie Mae, if you need an Amex, get the Everyday.

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:13:43 GMT

@vygotsky wrote:
I would wait for your newest account to be 6 months old before applying for Amex. Best 4 cards IMO:

1. Amex Platinum charge card: MR point, most perks of all the cards but high AF 495$ https://www304.americanexpress.com/credit-card/platinum
2. Amex Blue: NO AF, one of the esiest to obtain ( I personally got with <6 months cc history), not as nice as BCE https://www304.americanexpress.com/credit-card/blue?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
3. Premier Rewards Gold Card: MR point, similar perks to Plat, 3x points but much lower AF https://www304.americanexpress.com/credit-card/premier-rewards-gold?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
4. Amex Everyday: NO AF, 20% point bonus after 20+ swipes https://www304.americanexpress.com/credit-card/amex-everyday?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore

IMO if you are a big spender go with the plat, gas and groceres bce or everyday, always pay in full but dont wanna mess with utli % go with PRG.

Thanks for the information on Blue... I don't see it advertised anymore so I'm guessing the EveryDay card is being rolled out to replace it?

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:15:57 GMT

@Anonymous wrote:
@vygotsky wrote:
I would wait for your newest account to be 6 months old before applying for Amex. Best 4 cards IMO:

1. Amex Platinum charge card: MR point, most perks of all the cards but high AF 495$ https://www304.americanexpress.com/credit-card/platinum
2. Amex Blue: NO AF, one of the esiest to obtain ( I personally got with <6 months cc history), not as nice as BCE https://www304.americanexpress.com/credit-card/blue?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
3. Premier Rewards Gold Card: MR point, similar perks to Plat, 3x points but much lower AF https://www304.americanexpress.com/credit-card/premier-rewards-gold?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
4. Amex Everyday: NO AF, 20% point bonus after 20+ swipes https://www304.americanexpress.com/credit-card/amex-everyday?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore

IMO if you are a big spender go with the plat, gas and groceres bce or everyday, always pay in full but dont wanna mess with utli % go with PRG.
Blue is, IMO, one of the worst AE cards now. No redeeming features over the much better Everyday. MIGHT be easier than others, but no real point, wait until you can get a better card. No point to the BCE either, for rewards get Sallie Mae, if you need an Amex, get the Everyday.

Haha, see my post above... Very nice credit scores!

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:21:02 GMT

@Anonymous wrote:
Thanks for the information on Blue... I don't see it advertised anymore so I'm guessing the EveryDay card is being rolled out to replace it?

Well, don't apply, but try, not logged in or incongito etc, https://www304.americanexpress.com/credit-card/blue

Sometimes current card members don't get to see all cards.

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:31:58 GMT

@Anonymous wrote:
@Anonymous wrote:
Thanks for the information on Blue... I don't see it advertised anymore so I'm guessing the EveryDay card is being rolled out to replace it?
Well, don't apply, but try, not logged in or incongito etc, https://www304.americanexpress.com/credit-card/blue

Sometimes current card members don't get to see all cards.

It's still listed there. But to me it seems that the EveryDay might be the way to go - but in my case, it seems like the average FICO score for blue is lower than the EveryDay card. Maybe chances would be better?

Re: Best American Express for a NOOB

BungalowMo — Tue, 10 Jun 2014 00:57:01 GMT

I have had my Blue Cash Preferred from AMEX for about 3 years now. I am now on my 3rd generation of this card & each one has been a better product & better apr than the last.

Their CSR's have always mentioned a pc before I said anything. It's like they look at what you have & offer up a better version with better perks.

Be aware...AMEX pulls (nearly exclusively) Experain. Long story short, I was initially denied the card. When I called them & explained the mess on my EX with a Dep. of Edu. baddie, he gave me the fax # for the media review team, & within days...approved!! Within something like 8 months I tried for a CLI & had to go through the same process, but once again, they approved me.

They like hard facts, which I sent. They're very level headed & saw the situation as it was...total crap!

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:44:50 GMT

@BungalowMo wrote:
I have had my Blue from AMEX for about 3 years now. I am now on my 3rd generation of this card & each one has been a better product & better apr than the last.

Their CSR's have always mentioned a pc before I said anything. It's like they look at what you have & offer up a better version with better perks.

Be aware...AMEX pulles (nearly exclusively) Experain. Long story short, I was initially denied the card. When I called them & explained the mess on my EX with a Dep. of Edu. baddie, he gave me the fax # for the media review team, & within days...approved!! Within something like 8 months I tried for a CLI & had to go through the same process, but once again, they approved me.

They like hard facts, which I sent. They're very level headed & saw the situation as it was...total crap!

Good to know... I'll deffinately have to get my Experian Score. I'll be joining USAA credit monitoring service that gives Experian, TransUnion, and Equifax all rolled into one =)

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:48:08 GMT

@Anonymous wrote:

It's still listed there. But to me it seems that the EveryDay might be the way to go - but in my case, it seems like the average FICO score for blue is lower than the EveryDay card. Maybe chances would be better?

I guess my point is why get a worse card if by waiting for a while you can get a good one? Backdating is a possible answer, if you feel that you can get this, and later on get the Everyday.

Blue lacks several key features, transferability, and the bonus category for supermarkets, and the 1.2MR on all purchases if you do 20 a month.

lar

Anonymous — Tue, 10 Jun 2014 00:49:04 GMT

It seems like the Everyday would be a good fit. My cousin had a similar profile and was approved with a 670.

Just wondering, how long did you have the car loan open before you paid it off?

Re: Best American Express for a NOOB

vygotsky — Tue, 10 Jun 2014 00:53:12 GMT

@Anonymous wrote:
@vygotsky wrote:
I would wait for your newest account to be 6 months old before applying for Amex. Best 4 cards IMO:

1. Amex Platinum charge card: MR point, most perks of all the cards but high AF 495$ https://www304.americanexpress.com/credit-card/platinum
2. Amex Blue: NO AF, one of the esiest to obtain ( I personally got with <6 months cc history), not as nice as BCE https://www304.americanexpress.com/credit-card/blue?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
3. Premier Rewards Gold Card: MR point, similar perks to Plat, 3x points but much lower AF https://www304.americanexpress.com/credit-card/premier-rewards-gold?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore
4. Amex Everyday: NO AF, 20% point bonus after 20+ swipes https://www304.americanexpress.com/credit-card/amex-everyday?linknav=us-ccsg-cardshop-cm-viewallcards-learnmore

IMO if you are a big spender go with the plat, gas and groceres bce or everyday, always pay in full but dont wanna mess with utli % go with PRG.
Blue is, IMO, one of the worst AE cards now. No redeeming features over the much better Everyday. MIGHT be easier than others, but no real point, wait until you can get a better card. No point to the BCE either, for rewards get Sallie Mae, if you need an Amex, get the Everyday.

Blue does have the least rewards but if you are looking to get your "foot in the door" its by far the easiest to obtain because of the little to no benefits as you stated. Everyday will be slightly harder to obtain but worth all the benefits IMO. If you like hotel stays and travel check out the SPG, Hilton, or delta skymiles cards. If not go Everday/Everday perfered

Re: Best American Express for a NOOB

celluloid17 — Tue, 10 Jun 2014 00:53:41 GMT

If you have a Costco membership or plan to have one, you might look into the American Express TrueEarnings card. There's no AF aside from your annual Costco membership ($55) and it gives you 3% back on gasoline, 2% back at restaurants and on travel expenses and 1% back on everything else. You get the cashback earned in a check once a year in February that can be cashed at any Costco or used towards purchases there.

Re: lar

Anonymous — Tue, 10 Jun 2014 00:53:20 GMT

@Anonymous wrote:
It seems like the Everyday would be a good fit. My cousin had a similar profile and was approved with a 670.

Just wondering, how long did you have the car loan open before you paid it off?

It was a three year loan that was paid off in 1 year. At the time I wasn't interested in credit. Honestly, I was and still am a anti-establishment kind of person. But I've finally come to realize and accept the way I have been doing things isn't working out so well for me - time to grow up and play by the rules =/

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 00:56:39 GMT

@Anonymous wrote:
@Anonymous wrote:

It's still listed there. But to me it seems that the EveryDay might be the way to go - but in my case, it seems like the average FICO score for blue is lower than the EveryDay card. Maybe chances would be better?
I guess my point is why get a worse card if by waiting for a while you can get a good one? Backdating is a possible answer, if you feel that you can get this, and later on get the Everyday.

Blue lacks several key features, transferability, and the bonus category for supermarkets, and the 1.2MR on all purchases if you do 20 a month.

Well, I am going to be taking a break for about 6 months so if I can get my scores up to at least the 715 range, I'll give the better cards my first look =)

Re: Best American Express for a NOOB

Anonymous — Tue, 10 Jun 2014 01:00:17 GMT

@celluloid17 wrote:
If you have a Costco membership or plan to have one, you might look into the American Express TrueEarnings card. There's no AF aside from your annual Costco membership ($55) and it gives you 3% back on gasoline, 2% back at restaurants and on travel expenses and 1% back on everything else. You get the cashback earned in a check once a year in February that can be cashed at any Costco or used towards purchases there.

Costco AE average FICO is 721 per Credit Karma. Higher than Blue and EveryDay.