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AmEx Cash Magnet Approval

thecureandthecause
Established Member

AmEx Cash Magnet Approval

Alright, i’m officially back in the garden.

Saw pre-approval Amex Cash Magnet, SL 1600 which is fine based on my credit and a cool 0% apr for 15 months and a SP.

(Quick info, my new 90 day cycle started with Amex so i fall in the 2/90 rule with them)

Within a week, i got:

AmEx Cash Magnet: 1600 SL
AmEx Everyday : 2000 SL
Amazon Store Card: 1400 SL
Paypal Credit: 800 SL
Disco CLI of a 1000

Applying is an addiction, luckily i don’t over utilize and make spending an addiction.

But don’t want to get reviewed or dinged on apping for so many cards or getting decreases.

These cards are lowering my UT to around 13% so i’m hoping to take a small hit and fly over the 700 score soon again!

Message 1 of 5
4 REPLIES 4
VoltronM
Senior Contributor

Re: AmEx Cash Magnet Approval

Congrats on approval

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 2 of 5
GardenPro
Regular Contributor

Re: AmEx Cash Magnet Approval

Congrats!! Currently waiting for mine to come in the mail. Super excited.

Current Wallet:

Future Additions:
Message 3 of 5
AverageJoesCredit
Mega Contributor

Re: AmEx Cash Magnet Approval

Very nice job on all your cards. Me likely the new blueySmiley Happy
Message 4 of 5
BronzeTrader
Valued Contributor

Re: AmEx Cash Magnet Approval


@thecureandthecause wrote:
Alright, i’m officially back in the garden.

Saw pre-approval Amex Cash Magnet, SL 1600 which is fine based on my credit and a cool 0% apr for 15 months and a SP.

(Quick info, my new 90 day cycle started with Amex so i fall in the 2/90 rule with them)

Within a week, i got:

AmEx Cash Magnet: 1600 SL
AmEx Everyday : 2000 SL
Amazon Store Card: 1400 SL
Paypal Credit: 800 SL
Disco CLI of a 1000

Applying is an addiction, luckily i don’t over utilize and make spending an addiction.

But don’t want to get reviewed or dinged on apping for so many cards or getting decreases.

These cards are lowering my UT to around 13% so i’m hoping to take a small hit and fly over the 700 score soon again!


Good card to have.  <Mod Edit: No need for this comment thus removed as it adds nothing>.  All those cards with low CLs won't help your credit profile, but only hurt your scores.  Now your util % is lower, but you get more inquiries, more new cards, and more cards open.  

 

If I were you, I'd work hard to earn more $$, pay back the CCs, and drop the util %.  Work around with the best cards that give you the best rewards.  Try to get higher CLs.  Stop applying for new cards for one or two years......

Message 5 of 5
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