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Hello, happy new year again!!
I'm going to take advantage of the AU backdating and hit the "explode" button (jkjk ... "submit" I meant)
Though I'm in a dilemma: can't decide if I should apply for the TrueEarnings or the Bluecash Preferred.
I'm not looking for any travel benefits for this new cards, more like, looking for a cashback card just to be used at Costco and gas stations.
Also, I heard rumors that Costco is terminating the partnership with Amex, is that true? =[
@Anonymous wrote:Hello, happy new year again!!
I'm going to take advantage of the AU backdating and hit the "explode" button (jkjk ... "submit" I meant)
Though I'm in a dilemma: can't decide if I should apply for the TrueEarnings or the Bluecash Preferred.
I'm not looking for any travel benefits for this new cards, more like, looking for a cashback card just to be used at Costco and gas stations.
Also, I heard rumors that Costco is terminating the partnership with Amex, is that true? =[
I would go with a BCP, personally.
Both cards will only get you 1% at costco and 3% on gas. The BCP will get you 6% on grocery stores but has a $75 annual fee.
Amex and Costco parted ways in Canada I believe, but its still uncertain here in the US. It does make the partnership appear to be troubled. If you got the True Earnings, they would most likely convert you to something else if that partnership were terminated.
Love my BCP. Hard to beat 6% back on groceries & 3% every month.
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@joeyoey wrote:Love my BCP. Hard to beat 6% back on groceries & 3% every month.
Alright, BCP here I come!!! More questions (sorry ...)
(1) What should I keep my utilization% at before applying?
(2) Do they take into account that I'm an authorised user on multiple cards? Would they deny people because of "too much credit available"? (I am currently not a primary account holder of ANY Amex-issued cards)
(3) How many inquiries is too much? (I have about 20 accounts open/closed on my credit report)
Thanks again!!!
@Anonymous wrote:
@joeyoey wrote:Love my BCP. Hard to beat 6% back on groceries & 3% every month.
Alright, BCP here I come!!! More questions (sorry ...)
(1) What should I keep my utilization% at before applying?
(2) Do they take into account that I'm an authorised user on multiple cards? Would they deny people because of "too much credit available"? (I am currently not a primary account holder of ANY Amex-issued cards)
(3) How many inquiries is too much? (I have about 20 accounts open/closed on my credit report)
Thanks again!!!
1. less than 10% is general rule but no more than 30% at the most for best results.
2. Im not sure if they do take into account AU. Generally lenders dont even look at AU's. As for being denied for too much available credit, yes its a possibility to be denied for that, any lender will deny for that reason. However in my opinion thats a rare reason and wouldnt fret as long as your utilization is low.
3. Inquiries and open/closed accounts are 2 different things. It will depend on your profile, a thicker profile more can handle more INQ's vs. a thin profile.
2. Amex seems to take into consideration the credit limits of AU cards when applying for new cards. (Atleast they seemed to for mine, YMMV)
Thanks very much for the information!
I was nervous at first when applying for my AMEX but I did it for the hell of it and was approved! I signed up for the BCE and have started to use it as my everyday card. I aim to use less than 30% each month and pay it off in full so that way i can ask for the 3x CLI soon.
Hope things go well for you!
@abhowmick18 wrote:I was nervous at first when applying for my AMEX but I did it for the hell of it and was approved! I signed up for the BCE and have started to use it as my everyday card. I aim to use less than 30% each month and pay it off in full so that way i can ask for the 3x CLI soon.
Hope things go well for you!
Thanks and congratulations! =]