Approved! Amex BCE!

[Se1re]

Howdy everyone!

I posted a few weeks back questioning my chances at the Amex BCE and despite everyone telling me to just pull the trigger, I waited an extra month. I finally jumped last week and got instantly approved for the BCE with a 7k limit! Amazing, thank you so much Amex!! And also thanks to everyone who helped me on the forums both intentionally and unintentionally! I'm ecstatic that I'm now an Amex client and couldn't be any happier! But now, I have the application bug that everyone else gets, or so I've heard. I wanted to apply for just one more card, but I'm not sure what I should go for. I was thinking about the Gold but I'm not sure if there are any maybe better, or more competitive options available to me? If anyone has any insights it would totally be appreciated!! Thanks again!

[dodfire]

Congrats!!!!

Well what do you want out of your second card??? What are you going to use the card for??? Others can help guide you a little better with more information from you on what you want.

[Se1re]

To be honest, I'm just building my credit as high as I can and garden it to the best of my abilities. I right now have the BoA Platinum Plus with 5k, and the BCE with 7k, a Macys with 2k and an Express(clothes) with 2k. Maybe a card with points that I can gather over the long course that I'll be using it (I'm 22). I was talking with the Amex representative about the Gold, and she was explaining to me all about charge cards, but I'm not sure how a charge card effects your credit score since they don't report a limit? And, charge cards have to be PIF every month, unlike my BCE correct? (even though amex likes PIF)  If anyone else could better clarify that, I would definitely be indebted!

[myjourney]

Congrats 

[dodfire]

Yes that is correct...if you go with a "charge card" it MUST be paid in full every month. So, do not charge anything you do not have the funds to pay for right away.

It does report different having a NPSL but it also is not held against you on your UTL when it reports a balance.

[Se1re]

So, with a charge card- do I directly link it with my bank account for auto withdrawals every month, or just PIF before the due date? If I do get the gold, will that (being a charge card and all) help boost my credit more than a regular credit card with a limit?-- and I know this is a little random, but the Amex airport lounge's are only available to Platinum members correct?

[09Lexie]

Congrats on your approval! If you do not need a charge card then don't apply. Depending on the benefits you are looking for the AF varies between $95-395 but in most cases the first year is waived.

[dodfire]

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@Se1re wrote:

So, with a charge card- do I directly link it with my bank account for auto withdrawals every month, or just PIF before the due date? If I do get the gold, will that (being a charge card and all) help boost my credit more than a regular credit card with a limit?-- and I know this is a little random, but the Amex airport lounge's are only available to Platinum members correct?

---

You can set your account up for auto-pay if you wish to.

Or

You can just pay it on or before the due date, whatever works for you.

A charge card is not going to give you any "extra" FICO points.

AMEX Platinum give you complimentary lounge access.

If you are in the habit of constantly carrying a balance on any of your cards, I would suggest you get a credit card to boost your available credit so that it reduces your utilization percentage.

If you always pay your cards in full and you want reward points and added benefits from amex, then sure take a look at the charge cards.....go to their site and do a comparison of the Green, Gold, PRG and Platinum and see what card would best fit your spending habits.

[Se1re]

 I don't normally carry a balance at all, I PIF every month so that shouldn't be a problem. From what you said dodfire, would having all my credit limits available and only using the charge card benefit my score any better? That actually seems like a rather good idea then, because my utilization would be 0% basically, always. I'm going to be either leasing or financing a vehicle this coming winter, so I just wanted to garden enough credit to be instantly accepted and have extremely competitive rates between the banks or credit union that I go with. Is there any major differences between the gold and platinum minus the airport lounges, or is that one of the major factors? I do like to travel, and actually have a few trips this year that I've been planning so I figure that may be useful, and nostalgic (when I was younger my uncle used to fly me back and forth to Florida and we would always go into the Preferred lounges that they have, and it was indeed the coolest experience at a young age, haha. Maybe that's why I'm interested in the Plat, and I mean, yes 450 is a lot for an annual fee, but really I don't find it all that bad for such a prestigious card, especially if you use it. 

-- PS : The Amex rep I spoke with this morning says they're not accepting any more PRG applications. I don't know why =[

[09Lexie]

What!? Not accepting PRG!