topic Re: Well.....I closed my first prime card today in Credit Cards

Well.....I closed my first prime card today

Swapmeet — Mon, 18 Aug 2014 01:47:12 GMT

Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.

Re: Well.....I closed my first prime card today

mongstradamus — Mon, 18 Aug 2014 01:50:06 GMT

@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.

To me one of the biggest perks of the everyday card is it can hold MR points and trasnfer to airline partners no other no af card can do that.

Re: Well.....I closed my first prime card today

Swapmeet — Mon, 18 Aug 2014 01:54:12 GMT

@mongstradamus wrote:
@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.
To me one of the biggest perks of the everyday card is it can hold MR points and trasnfer to airline partners no other no af card can do that.

So you just use it for bills and non 5% category stuff, or what?

Re: Well.....I closed my first prime card today

mongstradamus — Mon, 18 Aug 2014 01:56:11 GMT

@Swapmeet wrote:
@mongstradamus wrote:
@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.
To me one of the biggest perks of the everyday card is it can hold MR points and trasnfer to airline partners no other no af card can do that.
So you just use it for bills and non 5% category stuff, or what?

well this basically my understanding i would use it for groceries to get 2x perk. But then it comes down to how much you value MR points. If you value it at 2 points per cent, then you are actually getting close to 4x everytime you buy groceries. It really depends tho how much you value MR points.

Re: Well.....I closed my first prime card today

Anonymous — Mon, 18 Aug 2014 01:58:42 GMT

@Swapmeet wrote:
@mongstradamus wrote:
@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.
To me one of the biggest perks of the everyday card is it can hold MR points and trasnfer to airline partners no other no af card can do that.
So you just use it for bills and non 5% category stuff, or what?

For heavy hitters, the ED makes sense if you use it for everything other than purchases where there is a higher reward value on another card. If you value MR at 2c each (which is conservative for some) this is offering 3% on non-category spend, which is very good, and of course if you value them above that, even better.

(So if you value them at 3.5 cents say, you would still use this over a 5% cashback card).

Re: Well.....I closed my first prime card today

H14 — Mon, 18 Aug 2014 01:58:35 GMT

Get signup bonuses with the charge cards, close them before second af [or first in prg case] hits. Save your points by having the ED. That's one strategy.

Re: Well.....I closed my first prime card today

Swapmeet — Mon, 18 Aug 2014 02:08:31 GMT

@H14 wrote:
Get signup bonuses with the charge cards, close them before second af [or first in prg case] hits. Save your points by having the ED. That's one strategy.

hahaha....I don't care that much..... My EX report needs to chill for a while though....I only have 4 or 5 inqs in the last 12 months, but like 14 or 15 for the last 24. On a good note, however, while USAA hit me with a separate HP for each CLI (2), EQ counted them both as 1

Re: Well.....I closed my first prime card today

mongstradamus — Mon, 18 Aug 2014 03:05:11 GMT

@H14 wrote:
Get signup bonuses with the charge cards, close them before second af [or first in prg case] hits. Save your points by having the ED. That's one strategy.

That plan of actioni is proably what i am going to do , if amex ever wants to offer me 50 k signup bonus for prg, i will start accumulating points :-)

Re: Well.....I closed my first prime card today

Swapmeet — Mon, 18 Aug 2014 03:08:06 GMT

You just use the everyday as your MR hub--transferring all the points from all other cards to that one? Sounds like a racket...lol

Re: Well.....I closed my first prime card today

mongstradamus — Mon, 18 Aug 2014 03:12:32 GMT

@Swapmeet wrote:
You just use the everyday as your MR hub--transferring all the points from all other cards to that one? Sounds like a racket...lol

well if you value MR at 2 per cent , then i would use it for anything that doesn't have 5% categories. Thats how i would play it . It only matters if you want to travel though.

Re: Well.....I closed my first prime card today

Swapmeet — Mon, 18 Aug 2014 03:37:06 GMT

I was talking about the switching charge cards around every year to get all the MR signup bonuses..... I'm not in position to do that yet, but I'll look into it around Jan or Feb.

Re: Well.....I closed my first prime card today

mongstradamus — Mon, 18 Aug 2014 03:39:49 GMT

@Swapmeet wrote:
I was talking about the switching charge cards around every year to get all the MR signup bonuses..... I'm not in position to do that yet, but I'll look into it around Jan or Feb.

My plan is an little different i was hoping to get prg signup semi soon so could do delta and PRG with one HP , when PRG af comes up i would app for either ED or EDP to hold MR points in. EDP sounds an bit better due to the fact you can get MR points on Gas, but its still all up in the air right now, since Amex doesn't want to give me 50k signup bonus

Re: Well.....I closed my first prime card today

lonelyisland — Mon, 18 Aug 2014 03:53:08 GMT

@Swapmeet wrote:
@mongstradamus wrote:
@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.
To me one of the biggest perks of the everyday card is it can hold MR points and trasnfer to airline partners no other no af card can do that.
So you just use it for bills and non 5% category stuff, or what?

Yeah, thats pretty much what I swipe it for, everything that I can't get better return on from another card. I was mostly interested to see how the MR program works, so I am going to give it a couple years, and see how it goes.

Re: Well.....I closed my first prime card today

mongstradamus — Mon, 18 Aug 2014 03:54:37 GMT

@lonelyisland wrote:
@Swapmeet wrote:
@mongstradamus wrote:
@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.
To me one of the biggest perks of the everyday card is it can hold MR points and trasnfer to airline partners no other no af card can do that.
So you just use it for bills and non 5% category stuff, or what?

Yeah, thats pretty much what I swipe it for, everything that I can't get better return on from another card. I was mostly interested to see how the MR program works, so I am going to give it a couple years, and see how it goes.

if it can help fund an trip maybe once an year will be happy :-) my CSP is helping fund an potential trip to bermuda or carribbean in feb :-)

Re: Well.....I closed my first prime card today

lonelyisland — Mon, 18 Aug 2014 04:07:51 GMT

if it can help fund an trip maybe once an year will be happy :-) my CSP is helping fund an potential trip to bermuda or carribbean in feb :-)

Nice!

Re: Well.....I closed my first prime card today

shane82388 — Mon, 18 Aug 2014 04:11:01 GMT

@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.

You can move limits from personal to business cards with AMEX?

Re: Well.....I closed my first prime card today

Swapmeet — Mon, 18 Aug 2014 20:07:50 GMT

@shane82388 wrote:
@Swapmeet wrote:
Actually last night. I called the Amex business customer service and asked them to reallocate as much credit limit as they are willing to from my Delta Gold card to my Simply Cash business card, and then close the Delta Gold.... The rewards/perks just aren't worth the AF anymore. I might apply for another Amex in a few months, but I'm just not all that impressed with the ED card...perhaps I'm missing something.
You can move limits from personal to business cards with AMEX?

Yes sir. The business is personally guaranteed by you anyway..... It just reports only to business unless you default....