Amex SimplyCash offer received, need some clarifications first please

[Anonymous]

Got an email targeted offer, only $200 bonus but that's ok they gave me the lowest APR at 13.74% which I'd rather have. No AF and a 50k cap, this card is superior to anything I have but wanted to clarify a couple of things please:

1. Will it be a HP? Since the offer includes an APR already I would think it wouldnt but who knows

2. Will this create a TL or is it hidden? I have a BLOC already and it is hidden but just to double check

3. Is this card included in the Amex 3x? I believe there has to be at least 180 days between CLIs but since this is business idk if it also applies or if it's even included at all

4. My psychology has been to stay in the garden and grow what I have but if there is no HP, no effect to my AAoA, and I can potentially 3x a decent SL this time, then this is a no brainer correct? Is there something I'm not considering here?

5. And finally what do you think is a ballpark SL for my profile? Thanks

EX 08 Fico: 720

AAOA: 3 years 3 months

Derogs?: 60 late from 3 years ago

Util: 3%

Total EQ Inquiries:

                Last 12 months: 2

                Last 6 months: 0
New Accounts in last 12 months: 1
                                 Last 6 months: 0

[Anonymous]

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@Anonymous wrote:

Got an email targeted offer, only $200 bonus but that's ok they gave me the lowest APR at 13.74% which I'd rather have. No AF and a 50k cap, this card is superior to anything I have but wanted to clarify a couple of things please:

1. Will it be a HP? Since the offer includes an APR already I would think it wouldnt but who knows

2. Will this create a TL or is it hidden? I have a BLOC already and it is hidden but just to double check

3. Is this card included in the Amex 3x? I believe there has to be at least 180 days between CLIs but since this is business idk if it also applies or if it's even included at all

4. My psychology has been to stay in the garden and grow what I have but if there is no HP, no effect to my AAoA, and I can potentially 3x a decent SL this time, then this is a no brainer correct? Is there something I'm not considering here?

5. And finally what do you think is a ballpark SL for my profile? Thanks

EX 08 Fico: 720

AAOA: 3 years 3 months

Derogs?: 60 late from 3 years ago

Util: 3%

Total EQ Inquiries:

                Last 12 months: 2

                Last 6 months: 0
New Accounts in last 12 months: 1
                                 Last 6 months: 0

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1.  More than likely will be a SP given that you have an existing Amex account but you should still always be willing to accept a HP for any credit application.

2.  As long as you default it will not report to your personal credit reports.

3. It’s included as is any Amex card that you have.  Any ‘rules’ like the 180 between CLIs is account wide whether personal or business.  No difference.

4.  If you can use the card then yes these AMEX business cards with no HP and a hidden trade line are very good deals.

5.  No idea as it is dependent on income and the total of your existing Amex cards now as well as your entire credit profile.

Good luck if you decide to apply.

[Anonymous]

I spoke to a CSR and she said it would be a HP because it would be a "companion" card whatever that means. I find it odd that they would offer me a set APR pending a HP that could potentially change that APR number? And it doesnt say it anywhere on the offer?

Thanks for the answers,  my concern is keeping AAoA intact and no new accounts and secondly was the HP, so I'm gonna give it a shot and report back.

[Anonymous]

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@Anonymous wrote:

I spoke to a CSR and she said it would be a HP because it would be a "companion" card whatever that means. I find it odd that they would offer me a set APR pending a HP that could potentially change that APR number? And it doesnt say it anywhere on the offer?

Thanks for the answers,  my concern is keeping AAoA intact and no new accounts and secondly was the HP, so I'm gonna give it a shot and report back.

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Amex CSRs like a lot of creditors front line reps give out bad info quite often.  Wouldn’t rely on what they say regarding the HP as they probably have no clue whether it will be a SP or HP but if it does turn out to be a HP, really not a big issue as any effect on your credit score is minimal and short lasting.

[Anonymous]

Approved! 13.4k SL very happy about that, hopefully I can get this up to 25k in Aug

I havent gotten a notification for a HP yet, which is usually  automatic so I'll come back if it does, so there is some data points here for reference

[Anonymous]

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@Anonymous wrote:

Approved! 13.4k SL very happy about that, hopefully I can get this up to 25k in Aug

I havent gotten a notification for a HP yet, which is usually  automatic so I'll come back if it does, so there is some data points here for reference

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Congrats!  Doubt that you will get a HP.  Most of us haven’t 

[SouthJamaica]

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@Anonymous wrote:

Got an email targeted offer, only $200 bonus but that's ok they gave me the lowest APR at 13.74% which I'd rather have. No AF and a 50k cap, this card is superior to anything I have

IMHO it's good but not as great as it appears. I had "Advertising" as my 3% category Amex allowed only a small fraction of my advertising media as eligible.

but wanted to clarify a couple of things please:

1. Will it be a HP? Since the offer includes an APR already I would think it wouldnt but who knows

Probably yes but sometimes not with Amex

2. Will this create a TL or is it hidden? I have a BLOC already and it is hidden but just to double check

It does not report to personal

3. Is this card included in the Amex 3x? I believe there has to be at least 180 days between CLIs but since this is business idk if it also applies or if it's even included at all

Yes it's included

4. My psychology has been to stay in the garden and grow what I have but if there is no HP, no effect to my AAoA, and I can potentially 3x a decent SL this time, then this is a no brainer correct? Is there something I'm not considering here?

They usually give a small SL. In my case they started me off with $3k.

5. And finally what do you think is a ballpark SL for my profile? Thanks

EX 08 Fico: 720

AAOA: 3 years 3 months

Derogs?: 60 late from 3 years ago

Util: 3%

Total EQ Inquiries:

                Last 12 months: 2

                Last 6 months: 0
New Accounts in last 12 months: 1
                                 Last 6 months: 0

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$3k  [Update: I see from your update you did much better than I'd predicted. What do I know ]

[SouthJamaica]

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@Anonymous wrote:

Approved! 13.4k SL very happy about that, hopefully I can get this up to 25k in Aug

I havent gotten a notification for a HP yet, which is usually  automatic so I'll come back if it does, so there is some data points here for reference

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Congratulations

[Anonymous]

@SouthJamaica
That's ok thanks for your input as well, Amex could be all over the place at times it seems, here is a recap of my time with them.

My first ever card was the Green Card which I used everyday, after that I got an offer for the PRG, took the bonus and made it my everyday for personal AND business so there was quite a bit money moving through (my business purchases could pass off as personal so there was never an issue). Then I switch to Discover for everyday because it builds up nice every 60 days so there was 0 activity on Amex for 2-3 months, in the meantime Im getting offers to upgrade to Plat even business Plat/PRG and also the 25k personal loan (now I wonder if those supply store purchases on the PRG may have triggered the business Plat/PRG offers).

I run into the 3x CLI guide and I'm like ok this is it. At the time my disco was already at 10k and everything else was 3-5k so I though if I get anywhere in that range I'll be at 25k in no time, so I go ahead and app for the BCE and BAM! 1K SL lol, used the same HP for the ED and BAM! another 1k lmao.

The ED I couldnt even transfer over the 1k and close it because whenever you do that you need to leave at least 1k on it lol smh, so completed to bonus and closed it. Started using the BCE everyday and have since made to CLIs to get to 9k.

And today this, so in my case it seems that they are particular sensitive to heavy continous usage, always PIF of course

[Anonymous]

you wont get a HP if your existing. Ive had 5 approvals over the last 6 months without a HP. Congrats on the new card, I love mine!