topic Re: Requirements for fidelity amex in Credit Cards

Requirements for fidelity amex

dabossman — Thu, 14 Aug 2014 01:22:45 GMT

I have a decent credit length. Won't be applying till January anyway, but I'm a student right now with about 15k income. Credit scores are 730-750 and by January it'll be up.

Is a 4.6 year history 2 year aaoa and a 15k income sufficient to get this card

Re: Requirements for fidelity amex

Anonymous — Thu, 14 Aug 2014 01:28:27 GMT

I'm interested too. The signup process seems so intimidating.... I dont know why..

Re: Requirements for fidelity amex

peaceonearth — Thu, 14 Aug 2014 01:33:12 GMT

@dabossman wrote:
I have a decent credit length. Won't be applying till January anyway, but I'm a student right now with about 15k income. Credit scores are 730-750 and by January it'll be up.

Is a 4.6 year history 2 year aaoa and a 15k income sufficient to get this card

You're income is 15k and for a student I think is OK but, do you really have use for another card?

Re: Requirements for fidelity amex

Anonymous — Thu, 14 Aug 2014 01:52:15 GMT

@peaceonearth wrote:
@dabossman wrote:
I have a decent credit length. Won't be applying till January anyway, but I'm a student right now with about 15k income. Credit scores are 730-750 and by January it'll be up.

Is a 4.6 year history 2 year aaoa and a 15k income sufficient to get this card
You're income is 15k and for a student I think is OK but, do you really have use for another card?

2% on everything is not that bad a deal when other cards don't/can't cover for it

Re: Requirements for fidelity amex

peaceonearth — Thu, 14 Aug 2014 02:01:16 GMT

@Anonymous wrote:
@peaceonearth wrote:
@dabossman wrote:
I have a decent credit length. Won't be applying till January anyway, but I'm a student right now with about 15k income. Credit scores are 730-750 and by January it'll be up.

Is a 4.6 year history 2 year aaoa and a 15k income sufficient to get this card
You're income is 15k and for a student I think is OK but, do you really have use for another card?
2% on everything is not that bad a deal when other cards don't/can't cover for it

The OP's income is $15. If I don't have a good income and money to spend then, all these cards with rewads are useless to me.

Re: Requirements for fidelity amex

Anonymous — Thu, 14 Aug 2014 02:03:18 GMT

@peaceonearth wrote:
@Anonymous wrote:
@peaceonearth wrote:
@dabossman wrote:
I have a decent credit length. Won't be applying till January anyway, but I'm a student right now with about 15k income. Credit scores are 730-750 and by January it'll be up.

Is a 4.6 year history 2 year aaoa and a 15k income sufficient to get this card
You're income is 15k and for a student I think is OK but, do you really have use for another card?
2% on everything is not that bad a deal when other cards don't/can't cover for it
The OP's income is $15. If I don't have a good income and money to spend then, all these cards with rewads are useless to me.

All of OP's cards are non-AF, so he benefits no matter what..?

Re: Requirements for fidelity amex

Anonymous — Thu, 14 Aug 2014 02:12:23 GMT

I have to agree with peaceonearth here

Yes, the Fidelity Amex is no annual fee and it's 2% cash back

But what on earth do you need that many credit cards for if you're only making 15k? Particularly as a student.

My (biased) opinion: keep 1 Amex with good rewards, keep 1 Visa/MC with good rewards, close the rest, exhibit sound credit practices on those 2 cards, focus on your studies, and when you're making bank, you can apply for all the credit cards you want.

Re: Requirements for fidelity amex

Anonymous — Thu, 14 Aug 2014 02:21:06 GMT

@Anonymous wrote:
I have to agree with peaceonearth here

Yes, the Fidelity Amex is no annual fee and it's 2% cash back

But what on earth do you need that many credit cards for if you're only making 15k? Particularly as a student.

My (biased) opinion: keep 1 Amex with good rewards, keep 1 Visa/MC with good rewards, close the rest, exhibit sound credit practices on those 2 cards, focus on your studies, and when you're making bank, you can apply for all the credit cards you want.

It the OP spent the entire $15K on the Fidelity Amex (which presumably isn't possible) he/she would get $300 back. Using the QuickSilver would return $225.

So at most $75 difference, and in reality much much less.

But, on the other hand, get the card now, take the HP when there is nothing important else to use it for, and get a better AAoA when you apply seriously.

But only if this is the last card, which it probably won't be.

Re: Requirements for fidelity amex

jugstore — Thu, 14 Aug 2014 02:37:05 GMT

Go for it. Your scores are decent enough and show that you use credit responsibly, but on the other hand you have a high amout of credit (relative to your annual income).

One thing to note: your cap1 QS manages rewards a lot better than Fidelity. Once you have Fidelity, you can only redeem in $50 increments ($2500 in spend) and that gets deposited into a linked Fidelity cash management account. It's a lot more convenient with the QS since you can just click click click and the balance magically goes down.

Re: Requirements for fidelity amex

Anonymous — Thu, 14 Aug 2014 02:43:44 GMT

@jugstore wrote:
Go for it. Your scores are decent enough and show that you use credit responsibly, but on the other hand you have a high amout of credit (relative to your annual income).

One thing to note: your cap1 QS manages rewards a lot better than Fidelity. Once you have Fidelity, you can only redeem in $50 increments ($2500 in spend) and that gets deposited into a linked Fidelity cash management account. It's a lot more convenient with the QS since you can just click click click and the balance magically goes down.

Not quite true. There is a $50 minimum, but you can redeem any amount over that, not just multiples of $50.

But QS is much more convenient for the reason you state, plus rewards post with transactions. With Fidelity, it happens at statement close.

Re: Requirements for fidelity amex

Open123 — Thu, 14 Aug 2014 02:52:58 GMT

@Anonymous wrote:
But QS is much more convenient for the reason you state, plus rewards post with transactions. With Fidelity, it happens at statement close.

Right, for small intermittent transactions, the QS is my favorite. The Fid Amex is great, but waiting for the $50 redemption threshold would try my patience. For the rare "Visa" only purchase, I'll just use the QS, and redeem the 1.5% immediately, and call it a day.

*Edited* PS - What Fidelity is really good for is Serve. 2% roe and low risk, since alienating BofA is no big deal.

Re: Requirements for fidelity amex

Anonymous — Thu, 14 Aug 2014 03:00:23 GMT

@Open123 wrote:
@Anonymous wrote:
But QS is much more convenient for the reason you state, plus rewards post with transactions. With Fidelity, it happens at statement close.
Right, for small intermittent transactions, the QS is my favorite. The Fid Amex is great, but waiting for the $50 redemption threshold would try my patience. For the rare "Visa" only purchase, I'll just use the QS, and redeem the 1.5% immediately, and call it a day.

*Edited* PS - What Fidelity is really good for is Serve. 2% roe and low risk, since alienating BofA is no big deal.

And for purchasing Amex gift cards through cashback portals, so that is non-category for everything.

Re: Requirements for fidelity amex

peaceonearth — Thu, 14 Aug 2014 03:07:21 GMT

@jugstore wrote:
Go for it. Your scores are decent enough and show that you use credit responsibly, but on the other hand you have a high amout of credit (relative to your annual income).

One thing to note: your cap1 QS manages rewards a lot better than Fidelity. Once you have Fidelity, you can only redeem in $50 increments ($2500 in spend) and that gets deposited into a linked Fidelity cash management account. It's a lot more convenient with the QS since you can just click click click and the balance magically goes down.

Go for the credit cards that you need and are usefull to you in lieu, of the cards you can have..

Re: Requirements for fidelity amex

Cstone87 — Thu, 14 Aug 2014 09:32:56 GMT

Agreed, Fidelity Amex -Teflon against MS. 15k salary I wouldn't see the benefits for you. Likely going to give you a small CL. Good at CLI with use though. Overall agree with the above poster go for the cards that serve and are useful. My two cents.

Sorry typos iPhone 5s