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AMEX Revolvers and PRG

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Anonymous
Not applicable

AMEX Revolvers and PRG

Hi all,

This is my first post, but I have been reading posts for the last several years when I started to rebuildmy credit. Long story short, started with a Cap One and Discover secured cards. A few months later, I got a Cap One Platinum Card which I PC'ed to a Quicksilver. Gardened for two years and thanks to many wise and helpful posts here, my scores increased by 150-200 points.

A few weeks ago, I decided to go on a little app spree. About 10 or so years ago, I had an AMEX but closed it at my own will when I realized i was living beyond my means. I always knew I wanted another relationship with AMEX. I was approved for the Delta Gold and Cash Magnet. Fast forward two weeks later, I am considering a PRG.

Never had a Charge Card, but my monthly spend on my debit card is 2k a month. I figured this might be a good fit. I have a Corporate Card thru my company and qualify for the Corporate Advantage Program. The AF is not waived. But I do get $100 statement credit every year and the $100 airline credit. The bonus is 50k MR on a $2k spend in 3 months. From what I understand approvals via this program is near automatic. I believe I could get it on my credit profile alone.

Question is with the two revolvers recently approved for, is there anything I need to think about before I apply?

Any guidance is appreciated.
Message 1 of 9
8 REPLIES 8
K-in-Boston
Epic Contributor

Re: AMEX Revolvers and PRG

Welcome to the forums!  You should be absolutely fine to apply for an Amex charge card.  If you're putting that kind of spend on a debit card, certainly do yourself a favor and move it to something earning rewards!  At a bare minimum, by moving that over to a PRG, after a year you'd have 74,000 Membership Rewards points which should be more than enough for at least a round-trip economy ticket to Europe or a number of other travel possibilities.  If you do travel a fair amount, I would certainly suggest considering whether Platinum makes more sense for your spend and the amount of perks and benefits it offers.  The underwriting for both should be essentially the same.

Message 2 of 9
CreditRebuilder2020
Frequent Contributor

Re: AMEX Revolvers and PRG

You're story is almost exactly similar to mine! I'm still in the rebuilding process myself. 

 

Can't reccommend Amex carge cards enough. I got an Amex Green Card, which was my first legitimate non-secured card, back in April. My spending power has grown very nicely with them. I spend around $3K a month on mine. I'll be upgrading to the PRG next year. 

 

I run my entire life through that thing, again spending I otherwise would have done on a DEBT card most likely because I barely use my other cards have low SL's and they're subprime. I just have them for the simple line of credit to expand my utilzation and overall credit limits. 

 

Everyone complains about the Annual Fees with Amex Charge Cards, if you make it your main card you can blow past those AF's no problem at all. I've had such a good experience with my Green card, getting back into the game. I love them. Also Amex has so many random offers that will pop up once you start using the card and the App. PRG's new 4x reward structure on restaurants/supermarkets that will be rolled out is also a gigantic step in the right direction. 

 

Two thumbs from this rebuilder! 

 

 


X1 VISA SIG $15,500/ AMEX Gold / Petal 1 $3600 / Wells Fargo Active Cash VISA $3K / VENMO Visa $900 / Verizon Visa $2K / Apple Card $1500 SL / Wyndham Rewards Earner Visa $500 / WALGREENS Store $1K / Amazon Store $5000 SL/ Discover IT Chrome $2500K / BP Prime Rewards VISA $4350 / PayPal MC $3500 / BOA BankAmericard $2K / BOA Cash Rewards $1K / Cap One Savor One $1200 / Cap One QS1 $950 / Blaze MC $2250 / Credit One $850 / Credit One AMEX $1200 / OpenSky $600 / AvantCard $1000 / Discover IT Cash Back (Graduated) $400 / eBay MC $750
FEB '22 EX: 698 EQ: 700 TU: 713 | UTL: 23% | Total Credit Limit: $54000
Goal Score: 675 for all FICOS (ACHIEVED NOVEMBER 2021) | NEW GOAL SCORE: 725 for ALL FICOs
Message 3 of 9
Anonymous
Not applicable

Re: AMEX Revolvers and PRG

Thank you both! I did apply and wasn't instantly approved. I figure it has something to do with being approved for 2 revolvers. The status is in progress. Called Amex to see if they needed anything from me, just in case. The rep informed me they needed additional income information. Provided what they asked for and now I am just waiting for the decision.
Message 4 of 9
K-in-Boston
Epic Contributor

Re: AMEX Revolvers and PRG

Keep us updated!  Usually, revolving cards being approved don't matter when applying for charge cards.  If they needed additional income information, then it certainly sounds as though it didn't go pending due to the previous apps as they would have likely just told you that they were still processing your application and you'd receive a written decision in 7-10 days or something similar: in other words, "you've probably been denied, but we're not going to tell you that over the phone."  Since that wasn't the case, I look forward to reading your approval thread.  Smiley Wink

Message 5 of 9
Anonymous
Not applicable

Re: AMEX Revolvers and PRG

Just an update. Status has been In Progress the whole week. Called on Thursday and the rep I spoke to put me on hold for a bit. He then informed me a special team is still reviewing my application and the status should be updated in 24-72 hours. Check this am and still hasn't changed.
Message 6 of 9
PointsBonus
Established Contributor

Re: AMEX Revolvers and PRG

I would be very surprised if they DID NOT approve you. You should have an approval. Have you checked online lately ?

Keep us posted








Message 7 of 9
Anonymous
Not applicable

Re: AMEX Revolvers and PRG

Thanks. Yeah, I've been checking online every day. Just about every hour. Nothing has changed yet.
Message 8 of 9
Anonymous
Not applicable

Re: AMEX Revolvers and PRG

Another update - called Amex and the rep I spoke to said the backend team sent me a letter on 10/2. He couldn't tell me what they sent but since the status has not been denied, that it's most likely they are requesting documents from me. I am guessing it'll be today or tomorrow.
Message 9 of 9
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