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Which AMEX to app for?

SouthJamaica
Super Contributor

Re: Which AMEX to app for?


@credit_endurance wrote:

Hi all,

 

I am officially going gardening real soon but wanted to app for one more card.

Looking over the AMEX family of cards I just can't decide. I already have the BCE and wanted add one more card to compliment that one.

I don't do a ton of traveling so would just want a card that I can build up points and save on everyday purchases.

 

Any suggestions?

 


No offense but I don't think your scores are high enough at the moment.

 

Since you already have the BCE you have the right Amex card for your needs.

 

In my opinion you should officially start gardening now.

 

 


Total revolving limits 677500 (584500 reporting) FICO 8: EQ 758 TU 777 EX 749

Message 11 of 15
credit_endurance
Valued Contributor

Re: Which AMEX to app for?


@kdm31091 wrote:

Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every creditor suits every person's spend and situation.


Yes, I had found myself getting rush from my approvals. Although I would like a card from the Citi family double cash back comes to mind or the cool Marvel type cards I honestly don't need another card to add to the mix. I just need real strategy on how to build my current credit lines that perhaps would be more fruitful advice. 

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores AUG 2021 (TU 770) (EQ 775) (EXP 762)

“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)

Garden Party Until July 2022….Chase 4/24
Message 12 of 15
SouthJamaica
Super Contributor

Re: Which AMEX to app for?


@credit_endurance wrote:

@kdm31091 wrote:

Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every creditor suits every person's spend and situation.


Yes, I had found myself getting rush from my approvals. Although I would like a card from the Citi family double cash back comes to mind or the cool Marvel type cards I honestly don't need another card to add to the mix. I just need real strategy on how to build my current credit lines that perhaps would be more fruitful advice


The best strategy would be to

 

(1) make no more applications

 

(2) use all the cards but pay them down to zero as fast as you can

 

(3) apply for the occasional soft pull CLI

 

(4) enhance your FICO scores by letting most cards report zero balance and others report small balance

 

(5) if you have no current installment loans, and want to go the extra mile to enhance your FICO scores, take out a small credit union share secured loan and pay it down to 9%


Total revolving limits 677500 (584500 reporting) FICO 8: EQ 758 TU 777 EX 749

Message 13 of 15
credit_endurance
Valued Contributor

Re: Which AMEX to app for?


@kdm31091 wrote:

Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every 


Yes,I had found myself enjoying the rush from the approvals lately. I was thinking of adding a,Citi double cash back or the very nice looking Marvel family cards to the mix. But honestly I believe building my current credit lines up accessing strategy and applying it to raise my current scores would be more fruitful.

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores AUG 2021 (TU 770) (EQ 775) (EXP 762)

“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)

Garden Party Until July 2022….Chase 4/24
Message 14 of 15
credit_endurance
Valued Contributor

Re: Which AMEX to app for?


@SouthJamaica wrote:

@credit_endurance wrote:

@kdm31091 wrote:

Don't get a card just to get a card. If one isn't careful they find themselves seeking out cards to app for just because. IMO that's a dangerous path. What does your current lineup truly lack that a new card will provide? Why does it have to be an Amex? It could be that Amex simply doesn't have any products that fit your needs at this time. Not every creditor suits every person's spend and situation.


Yes, I had found myself getting rush from my approvals. Although I would like a card from the Citi family double cash back comes to mind or the cool Marvel type cards I honestly don't need another card to add to the mix. I just need real strategy on how to build my current credit lines that perhaps would be more fruitful advice


The best strategy would be to

 

(1) make no more applications

 

(2) use all the cards but pay them down to zero as fast as you can

 

(3) apply for the occasional soft pull CLI

 

(4) enhance your FICO scores by letting most cards report zero balance and others report small balance

 

(5) if you have no current installment loans, and want to go the extra mile to enhance your FICO scores, take out a small credit union share secured loan and pay it down to 9%


I do have 2 students loans in play. Both have low balances and I've just kept them around to keep AAOA lengthy. And I have one personal loan through a local CU for around $4k. Should I pay off those small student loans as well as pay down the local CU personal loan then app for an installment loan? Or just wait it out?

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores AUG 2021 (TU 770) (EQ 775) (EXP 762)

“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)

Garden Party Until July 2022….Chase 4/24
Message 15 of 15
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