AMEX Everyday Card - Approved!

[Anonymous]

Was feeling down after the Chase denial, so went for one of the Amex pre-quals. 

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Chase-and-Amex-pre-quals/td-p/5154735

Instant approval for $500!

Finally in with Amex!!  

They pulled EXP.  Current score is 648.

[Goal_Getter]

Congrats! I joined the family today as well.

[Anonymous]

That is AWESOME!! 😄 Congrats on the approval.

AMEX ED was my first AMEX card @ 500! Then days later I picked up the AMEX BCE @ 2000 and the PRG. I love and use them all.

The 500$ limit cards are like a form of Cap1's "credit steps" so as long as you charge something every month and make on time payments in 5-6 months they should raise your limit. Mine went to 1,000 after 5 statements cut. It might of been higher but my score had dropped since picking up the card and I believe that impacted it.

Unlike others I was able to pick up the bonus. I heard sometimes you don't get the bonuses with 500$ SL.

[Anonymous]

Thanks!! Unfortunately I didn’t get the SUB. But I do plan on taking very good care of the account in hopes to get some of their more appealing cards in the future.

[Anonymous]

Congratulations! The ED card was my first big boy, non-secured card.  I started with CO Secured and Discover Secured both at $200 and Amex threw $2000 my way with like 4 months of history (no FICOs). I have roughly 7 months of history now and as you can see I've expanded GREATLY. Treat Amex right and they may well take your hand through your rebuilding!

[Anonymous]

Thank you very much!  I definitely plan to treat them right.  

Any ideas how long it'll take to get the card?  I was given my card # (not sure if its the actual card # or just a temporary one) until the real one arrives.  Am I able to set up my online account before I actually get the card?  I tried inputting the temporary one and it's not recognizing it.

[kilroy8]

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wrote:

Thank you very much!  I definitely plan to treat them right.  

Any ideas how long it'll take to get the card?  I was given my card # (not sure if its the actual card # or just a temporary one) until the real one arrives.  Am I able to set up my online account before I actually get the card?  I tried inputting the temporary one and it's not recognizing it.

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It will take about a week to get it, and be sure to use and PIF. They say that Amex doesn't like it when you carry balances. It's kind of sad, really. I have a $18K BCP with 8 months of 0% left on it and it has never reported a balance, as I always pay it to zero before the statement cuts. I guess that is being paranoid on my part.

[Anonymous]

Interesting that you have never let a balance report.  Once I got the approval email, I also got an email about the Amex "Credit Steps", with language basically saying I need to let a balance report each month to get the limit increase.  Here's the exact quote from the email:

You can earn a higher credit line on your new Amex EveryDay® Card. Simply follow the steps below for each of your first five statements:

1. Use your Card. You must have a balance due each month.
2. Pay at least the minimum due on time each month.

So with that said, I plan on letting a small balance report each month then paying in full.

Thanks for your input!  Nice cards btw, you have basically the exact setup I am looking for as my "endgame".  Going to be a while before I can get the Chase cards, though.

[Anonymous]

Congrats on your Amex approval.  And if you read the Terms & Conditions at the bottom of the e-mail (the fine print that most people ignore) you'll see that the auto-cli occurs closer to 180 days than to 5 months.

Terms & Conditions

1. You will receive an increased credit limit if you (a) have an amount due on each of your first five billing statements, (b) pay at least the minimum amount due on those statements by the due date, (c) are not past due on the credit report we review at the time we evaluate the credit limit increase, (d) meet federal requirements for ability to pay, and (e) haven’t already received a credit limit increase.

2. Your credit line increase will go into effect by the end of the sixth month after your first payment.

[Anonymous]

Congratulations! Looking forward to joining the family in the coming months. So far, no luck.