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AMEX

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Contributor

Re: AMEX


@loyalsudz wrote:

So it is the basic AMEX green card and from what they said, there is no preset monthly limit. Also, I love that you and your family love Dave Ramsey.  I feel like I have found a kindred spirit.  Great advice! I definitely pay in full monthly and avoid interest.  I have my fully funded emergency fund and a traveling sinking fund from my reimbursements.


Just remember - you have a charge card and not a credit card. You really have no choice in the matter but to pay the entire balance off monthly. No pre set spend limit means just that. It does not mean that there is not a cap on how much you can put on the card in any given month. Also, it can vary from month to month, week to week, day to day depending on the Amex algorithm.

 

You have to ask "Would Dave really approve of me having a charge/credit card to begin with?"

 

This charge card matches my criteria for the type of card I was looking for.  I am so happy!  I wanted to be able to pay for my travels for work without being dinged because I have lower credit limits on my credit cards.  According to nerdwallet, they stated "when credit bureaus see open accounts with high limits instead of credit limits, they simply don’t include them in their debt utilization ratios, so they have neither a negative nor positive impact on your score." And this hopefully will prove to be my "goto" card.  Unless I still end up getting dinged for having a balance for the month. Please someone clarify how that works. Hopefully, it really is the best of both worlds at least for me.  I heard that several users of the charge card were offered the pay over time offer with this very card so this is promising.   My budget is pretty set so I see no problems with adding in rewards points for purchases.  As for the cap, the faster you pay it off the better you look to AMEX and I am thinking you can call if a transaction goes down hill.   But I will baby this card for the next several years while I save up for down payment on a house. 

 

As for asking "would Dave really approve of me having a charge/credit card to begin with?"  I have the utmost respect for Dave but I would not ask him or anyone else for his or her approval. 

 

Thank you!!!

   

TU 791| EQ 795 | EX 784
As of 06/01/2019: 818 Eq 797 TU 821 Ex
As of 11/26/2019: 838 Eq 834 TU 848 Ex
Message 11 of 20
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Senior Contributor

Re: AMEX


@loyalsudz wrote:

@loyalsudz wrote:

So it is the basic AMEX green card and from what they said, there is no preset monthly limit. Also, I love that you and your family love Dave Ramsey.  I feel like I have found a kindred spirit.  Great advice! I definitely pay in full monthly and avoid interest.  I have my fully funded emergency fund and a traveling sinking fund from my reimbursements.


Just remember - you have a charge card and not a credit card. You really have no choice in the matter but to pay the entire balance off monthly. No pre set spend limit means just that. It does not mean that there is not a cap on how much you can put on the card in any given month. Also, it can vary from month to month, week to week, day to day depending on the Amex algorithm.

 

You have to ask "Would Dave really approve of me having a charge/credit card to begin with?"

 

This charge card matches my criteria for the type of card I was looking for.  I am so happy!  I wanted to be able to pay for my travels for work without being dinged because I have lower credit limits on my credit cards.  According to nerdwallet, they stated "when credit bureaus see open accounts with high limits instead of credit limits, they simply don’t include them in their debt utilization ratios, so they have neither a negative nor positive impact on your score." And this hopefully will prove to be my "goto" card.  Unless I still end up getting dinged for having a balance for the month. Please someone clarify how that works. Hopefully, it really is the best of both worlds at least for me.  I heard that several users of the charge card were offered the pay over time offer with this very card so this is promising.   My budget is pretty set so I see no problems with adding in rewards points for purchases.  As for the cap, the faster you pay it off the better you look to AMEX and I am thinking you can call if a transaction goes down hill.   But I will baby this card for the next several years while I save up for down payment on a house. 

 

As for asking "would Dave really approve of me having a charge/credit card to begin with?"  I have the utmost respect for Dave but I would not ask him or anyone else for his or her approval. 

 

Thank you!!!

   


+1

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (2.4.20) EX: 832 / EQ: 840 / TU: 833
Message 12 of 20
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Valued Contributor

Re: AMEX

Congrats, If I were in your shoes I would go for a revolver (Everyday or Everyday Preferred) on the same day as your charge card approval. 

Message 13 of 20
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Regular Contributor

Re: AMEX

Thank you for your post. It really gave me the confidence to apply and I was approved! Finally an Amex Member!





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Message 14 of 20
Highlighted
Contributor

Re: AMEX

Congratulations!!!

TU 791| EQ 795 | EX 784
As of 06/01/2019: 818 Eq 797 TU 821 Ex
As of 11/26/2019: 838 Eq 834 TU 848 Ex
Message 15 of 20
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Frequent Contributor

Re: AMEX

Glad we could share in your just approved Amex.... congrats.

Message 16 of 20
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Established Contributor

Re: AMEX


@savingmoney87 wrote:

Thank you for your post. It really gave me the confidence to apply and I was approved! Finally an Amex Member!


Good for you! Congrats.

Over $200,000 in credit across 12 cards.

FICO ranges from 791 -824 as of 07/26/2019
Message 17 of 20
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Established Contributor

Re: AMEX

Congrats!

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben

SCORES: Excellent · 830 to 848
INQUIRIES: 0
UNIVERSAL REVOLVERS: $200K Club
NUMBER OF CC ACCOUNTS: Less than 10
CARD USAGE: Minimal
CREDIT HISTORY: Very Lengthy · Seasoned Accounts
INCOME: Sufficient
UTIL: 1-2%
PYMTS: 100% Positive · Always PIF · AZEO
INSTALLMENTS: No thanks!
ASSETS: 100% Equity
TOTALLY REFUSE TO: Pay Interest or Annual Fees, Combine Accounts, Reduce Limits, Submit 4506-T, SCT, App Spree, Accumulate Inquiries, Do business with Comenity, Synchrony, Cap One, Wells Fargo, Citi, Barclays or any other credit-cancerous lending institutions
Message 18 of 20
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Established Contributor

Re: AMEX

 

 

 

 

Congrats !!! Keep it up . Smiley Wink

Fico Score 10/6 EQ 702,16 INQ,TU 740, 9,iNQ EX 705,21 INQ,13%UTIL-
,10 yrs history,1.6 yr AA Cap1 Plat,VentureOne,QS ,Barckey RCI, BBVA,Amex BCE,CSP,NFCU Flag, NFCU Go,NFCU,Cloc NFCU busin,NFCU busin Cloc,Amex Delta busn,Bj's busn Perks,Hawaiian air busin, Citi dc, Discover IT,Chase Hyatt,U.S bank flex perks.,Am,ex Business Plat JCP. Commercial, citi Hilton
Message 19 of 20
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Contributor

Re: AMEX

Just got my Amex Plat approved today!  Thanks Lady-in-waiting!

TU 791| EQ 795 | EX 784
As of 06/01/2019: 818 Eq 797 TU 821 Ex
As of 11/26/2019: 838 Eq 834 TU 848 Ex
Message 20 of 20
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