Congrats and don't worry. It'll grow. At least you got your foot in the door with Amex. 
eddie84 wrote:
Congrats and don't worry. It'll grow. At least you got your foot in the door with Amex.
Is AMEX usually a hard one to get in with?
I like all the card benefits, the free fico score, all the rebates, i can even get a sams club membership for 20 bux
@Anonymous wrote:@eddie84 wrote:
Congrats and don't worry. It'll grow. At least you got your foot in the door with Amex.
Is AMEX usually a hard one to get in with?I like all the card benefits, the free fico score, all the rebates, i can even get a sams club membership for 20 bux
They can be, if the file is new or challenged. Now that you have the $500 card though, this gives them an opportunity to see your payment history directly, and your file with them will get stronger over time.
Don't be afraid to use almost the full $500, as long as you are paying the entire amount off by the payment due date. Showing usage and full payments at this level is an excellent way to lead to future CLI.
Congratulations! This is a good card to earn MR points that will be useful later for transfer to travel partners. Keep those MR points for later!
@NRB525 wrote:
@Anonymous wrote:@eddie84 wrote:
Congrats and don't worry. It'll grow. At least you got your foot in the door with Amex.
Is AMEX usually a hard one to get in with?I like all the card benefits, the free fico score, all the rebates, i can even get a sams club membership for 20 bux
They can be, if the file is new or challenged. Now that you have the $500 card though, this gives them an opportunity to see your payment history directly, and your file with them will get stronger over time.
Don't be afraid to use almost the full $500, as long as you are paying the entire amount off by the payment due date. Showing usage and full payments at this level is an excellent way to lead to future CLI.
Congratulations! This is a good card to earn MR points that will be useful later for transfer to travel partners. Keep those MR points for later!
I'll probably start small and build up to use most of the limit. If I go and spend 450 bucks on that card, it'll mess with my head and feel like I didn't spend any money at all and then I wont want to pay the balance in full lol. I need to practice up. But, I think it said there's no interest for the first year or something crazy like that, so even if I did have a balance carry over I'd be alright.
For $500? I'd be inclined to not carry any balance on that low amount. You want to show usage and PIF for a while to build their trust. Yeah, it might be 0% APR, but if you are still developing your own ability to think about credit, leaving the amount there on limited payments may confuse both you and AMEX. "This borrower can't pay off $300? Ok, lets wait a while longer to see if we get our $300 back before a CLI" is the kind of conversation I can imagine in the AMEX algorithm that will be looking at your account.
