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Amex 2nd Card question...

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Regular Contributor

Amex 2nd Card question...

Question for y'all Amex pros.
I logged into my ED card account to check my balance, and figured I'd take a look at prequels. None. Lists the usual featured cards, one being the gold card. If I click Apply it says "...you are pre-approved. Other cards it says the usual "To expand membership...." speal. Normally for revolvers if it's a set APR then it's pretty good odds.

Is the anything to look for with their charge cards?

Thanks yall.





Message 1 of 8
7 REPLIES 7
Valued Member

Re: Amex 2nd Card question...

The charge cards have Pay Over Time, which allows you to pay off any transactions $100 or more over time. It has a set interest rate of 20.49% for me, late penalty APR of 29.99% (industry standard, I guess). I don't know if that's the same for everyone, but I haven't seen anything different.

However the case, you want to pay these cards off in full by due date. It's just good practice if you're wanting to go towards a charge card. The benefits are there, but make sure it'll fit your lifestyle.
Gardening Starting 10/17/2019


Starting Scores: Equifax 527 Experian 555 Transunion 546
Current Scores: Equifax 645 (FICO 8, July 2, 19) Experian 654 (FICO 8 - Oct 1, 19) Transunion 635 (FICO 8 - Sept 24, 19)


Total CL: $14,500
Message 2 of 8
Frequent Contributor

Re: Amex 2nd Card question...

In my experience, when AMEX says you're "pre approved" that's pretty solid.



Current Scores Jul 2019 – FICO 8
Message 3 of 8
Regular Contributor

Re: Amex 2nd Card question...

Ya, it gave me the same 20.49% POT APR. Wasn't sure if that was just the "normal" or not. I could definitely put the spend into grocery and dining (family of 6). I have been wanting to add a charge card for some time now, just never got around to it.





Message 4 of 8
Established Contributor

Re: Amex 2nd Card question...

I don't get pre-approvals on the Amex site. When I try for the Green I get the "Expanding your membership is easy" message.





Message 5 of 8
Valued Contributor

Re: Amex 2nd Card question...


@RealityBites wrote:

I don't get pre-approvals on the Amex site. When I try for the Green I get the "Expanding your membership is easy" message.


They don't like me either




"I thought credit was over in 2008. Never underestimate the ability of central bankers to blow a bubble." - Me
“If you don’t know, the thing to do is not to get scared, but to learn.” – Ayn Rand
Message 6 of 8
Valued Contributor

Re: Amex 2nd Card question...

It's the same for ALL Amex cards.

 

pre-approved = SP

expand = HP

 

If your current account was a borderline approval say from $500-$2000 then it might take some time for the SP info to appear as you get to know each other better.

500K+ TCL / 800+ FCOs
Message 7 of 8
Moderator

Re: Amex 2nd Card question...


@Obscure-Expert wrote:

It's the same for ALL Amex cards.

 

pre-approved = SP

expand = HP

 

If your current account was a borderline approval say from $500-$2000 then it might take some time for the SP info to appear as you get to know each other better.


Not always the case.  When I was looking for a specific AmEx a while back, it wasn't pre-approved.  The "expand" language displayed and I didn't get a HP.  So, outcomes will vary.

Message 8 of 8
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