@Aim_High wrote:
@wasCB14 wrote:
@Aim_High wrote:That's interesting. I thought you liked your Premium Rewards from other postings and this may be the first time I've seen anyone say it's not that great. My idea with it, though, was diversification.Mathematically, 2.625% just isn't that great if someone travels a lot and can consistently get 2+ cpp from a UR. CSR/CF/CFU becomes (in terms of travel value) 6%/10%/3%.
However, that isn't me because:
1. I have a lot of United miles and Hyatt points that I am using gradually. I downgraded CSR because I didn't need more URs anytime soon.
2. I generally prefer MRs, both in terms of airline transfer bonuses and the BBP/Schwab combo with a 2.5% cash. Platinum's 2020 boost to travel insurance added protections to the rewards program I favored.
CSR isn't bad in itself, but so much spend goes to a non-UR card for one reason or another now that there's not enough spend left to bother with CSR.
I face a similar choice. I have a lot of points accruing from SUBs and spending that I don't have immediate use for. I don't travel nearly as often as many do so I could even be earning 10% cash back on a travel card that could be essentially worthless to me if I don't redeem the points. Likewise, I don't use travel partners and I'm not sure I would try to get the full 2ccp value from URs when getting 1.5 ccp on the Chase portal is easy and straightforward. Even at 1.5 ccp, I'm still out earning most cash back options such as the 4.5% UR return on Dining out I get with CSR. So to me, having a card that gives me a base cash back floor of 2.625% (or 3% with the AOD) on all uncategorized spend is an important part of my strategy. And whenever I want to focus on URs for travel, I can still get that potential 6/10/3. Best of both worlds, IMO.
Right, and I think you should keep in mind that if you branch out to MR you are then spreading your spending even thinner. When you get to the point of having cards you use only for a certain specific purpose, you can build up rewards very slowly. In travel point systems this matters more because you simply won't reach any meaningful reward. Unlike UR points, MR points are not easy to cash out if you decide you don't want to travel, although you can do some gift cards at 1 cent per point.
I think cash back and UR is a good combination of flexibility and potential travel rewards. I'd be careful doing too many systems unless your spend is really high or you just want the SUBs.
@M_Smart007 wrote:A NFCU Flagship would more than make up for Amex's loss
Just Sayin
Again thanks for all the valuable input!
Excellent suggestion @M_Smart007!!
Great minds think alike, because it's already on my radar! 
I'm building with Navy and hope to hit maximum exposure with them in next 12-18 months. Platinum was added in November and got my CLI to $18K in April. Cards most attractive are the Flagship and the More Rewards. But I may combine limits down to two cards later. Plus Mr Flagship lost his healthy $500 SUB for the time being. 
The numerous new accounts are really biting me in the butt right now. CITI and BofA both turned me down for CLIs lately for that. Finally CITI just approved a $3K increase on my Costco card and I was approaching six months where I'd only have the 1/6. That's when AMEX denied me for new accounts. I guess I got a little over confident. I really just need to garden for now. Premium Rewards and/or a CLI on my BofA CR card are probably my next biggest targets. Then maybe back to Navy (Plat CLI #2 and card #2?) #, PenFed (card2?), or US Bank (Cash+?). By the fall, I can also ask CITI for another $3K on my Costco.
Thanks again for the comments about my inputs on the forums! It's nice to know I'm helpful and appreciated! Always glad to help. That's one thing I enjoy about spending time on here is helping out the community.
@kdm31091 wrote:
@Aim_High wrote:I face a similar choice. I have a lot of points accruing from SUBs and spending that I don't have immediate use for. I don't travel nearly as often as many do so I could even be earning 10% cash back on a travel card that could be essentially worthless to me if I don't redeem the points. Likewise, I don't use travel partners and I'm not sure I would try to get the full 2ccp value from URs when getting 1.5 ccp on the Chase portal is easy and straightforward. Even at 1.5 ccp, I'm still out earning most cash back options such as the 4.5% UR return on Dining out I get with CSR. So to me, having a card that gives me a base cash back floor of 2.625% (or 3% with the AOD) on all uncategorized spend is an important part of my strategy. And whenever I want to focus on URs for travel, I can still get that potential 6/10/3. Best of both worlds, IMO.
Right, and I think you should keep in mind that if you branch out to MR you are then spreading your spending even thinner. When you get to the point of having cards you use only for a certain specific purpose, you can build up rewards very slowly. In travel point systems this matters more because you simply won't reach any meaningful reward. Unlike UR points, MR points are not easy to cash out if you decide you don't want to travel, although you can do some gift cards at 1 cent per point.
I think cash back and UR is a good combination of flexibility and potential travel rewards. I'd be careful doing too many systems unless your spend is really high or you just want the SUBs.
Thanks for that. Part of my overall strategy has been to diversify between a variety of lenders including all the larger ones. So totally ignoring AMEX to add back to my wallet has just seemed inappropriate. Yet, I've also been puzzled about which cards would best fit me or whether I should go with Cash Back or MRs. They have some great cards, but given the other cards I already carry and my spend/lifestyle, none of their cards seems to fill a niche for me that I need filled. So honestly, there's not been any of their cards I really drooled over. Sometimes I've been exactly of the position you stated above. And other times, I've been tempted to add a card or two of theirs, or to add MRs to my plan. I've been on the fence. Maybe if I want an AMEX in my wallet, a cashback version might supplement better, such as the BCP. Or just get a Hilton card. And maybe I was overreaching with a GOLD card, since it would dilute my UR point plan. I did add the Chase Quadfecta specifically to do that, and it's worked pretty well. Either way, I have time to decide. But I appreciate the inputs!
And here I thought AJC was the offical poster boy for NFCU!
@Aim_High wrote:Just wanted to send an FYI to the community. Despite my overall strong profile, I failed but I hope others can benefit from my mistake.
Apparently, American Express is becoming more sensitive to how many new revolving accounts you've recently added. I knew it might be pushing it, but they had been offering me cards on their prequalified offers page so I thought it would be okay. I'm not really sure what the cutoff was with them previously, but I just posted in another thread about my denial for an AMEX GOLD card.
FICO (EX) 834. High household income. Low DTI. Thick file. Previous AMEX cardholder in good standing.
Some of my most recent new accounts were in the process of aging beyond six months, so the numbers depend on how they calculated. I only had one new account this year in April. Last November, there were technically four (one already closed; one AU.) So in six months, I was either 1/6, 3/6, or 5/6. (Since four of my accounts had passed milestones within previous two weeks.) In one year, I was at 7/12. In two years, I was at 9/24. However, I had a 10th one drop off on May 6 from two years ago, so it could possibly have shown 10/24. Let's just call it 3/6, 7/12, 9/24. (Worst case would have been 5/6, 7/12, 10/24.) And by the way, that is BY-FAR the most accounts I've ever added in such a brief period with over 35 years of credit history.
Honestly, I never even looked up data points to see where AMEX draws the line. My general impression has not been that they are particularly sensitive to new accounts. Obviously, I was mistaken.
Data points from others who have been recently approved or declined with AMEX with large numbers of new accounts would be helpful. (Six months, One year, and Two year new accounts.)
My other thread with more Data Points:
https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-wants-my-business/td-p/6025410
I'm so sorry to hear about your denial! Thank you for sharing your experience with us though! I've been seeing some prequalified offers too and have thought about going for the gold card. I think I will wait now. You likely saved me from a denial! I appreciate it!
@Jordan23ww wrote:
@Aim_High wrote:Just wanted to send an FYI to the community. Despite my overall strong profile, I failed but I hope others can benefit from my mistake.
Apparently, American Express is becoming more sensitive to how many new revolving accounts you've recently added. I knew it might be pushing it, but they had been offering me cards on their prequalified offers page so I thought it would be okay. I'm not really sure what the cutoff was with them previously, but I just posted in another thread about my denial for an AMEX GOLD card.
FICO (EX) 834. High household income. Low DTI. Thick file. Previous AMEX cardholder in good standing.
I'm so sorry to hear about your denial! Thank you for sharing your experience with us though! I've been seeing some prequalified offers too and have thought about going for the gold card. I think I will wait now. You likely saved me from a denial! I appreciate it!
You're welcome and glad it helped! I generally think AMEX prequals are pretty solid but this is a major flaw in depending on them. And it does sound like their criteria has changed and tightened up. I was quite shocked and don't like to waste HP's on applications where I don't feel I have a good chance of approval. I honestly can't remember the last time I got a denial before this! As long as your new accounts and inquiries are in check, I think the preapproval site is okay to use but of course there are never any guarantees with those things!
There's a happy ending to this thread.
Applied and approved for the AMEX GOLD card on 08/15/2020!
And the SUB was 75K MR points, so even higher than what I was offered before!
Thanks everyone for your support and encouragement!
Approval Thread:
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/AMEX-GOLD-APPROVED/td-p/6108982
.. Dig it
@Aim_High wrote:There's a happy ending to this thread.
Applied and approved for the AMEX GOLD card on 08/15/2020!
And the SUB was 75K MR points, so even higher than what I was offered before!
Thanks everyone for your support and encouragement!
Approval Thread:
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/AMEX-GOLD-APPROVED/td-p/6108982
