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Approved For AMEX BCE

mppaul271
Regular Contributor

Re: Approved For AMEX BCE

Well yes it makes sense that AMEX business is primarily tranaction vs interest based as that is the founding of the company...charge cards. Just the last 30 yrs they diversified into the revolving debt or rather the more direct revolving debt business with credit cards. As you have always had the option on the charge cards to carry over a balance that wasn’t the primary marketing focus, more of a convient perk if you needed a month or two to get that large purchase cleared.  AMEX is a cool card to have, to me when you have an issue to resolve on a purchase made, the waters just seem to part and the heavens open up with rays of light  letting you know your path is clear for take off🙂

Message 11 of 14
mppaul271
Regular Contributor

Re: Approved For AMEX BCE


@1CreditEd wrote:

I think I got $200 back on $1000 spend buy you guys have me doubting it now.. 

I don't recall anything about the offer being removed but I don't know.. 

I guess I'll see when it gets here.. 

 

I am very glad I got it though no matter what.. Maybe I should have waited longer but it is what I wanted most (and that US Pride card, and hope that NRA card comes back!).. 

I have been looking into the history of amex back into the 1800s and it's quite attractive.. 

Amexes business model also stands out to me as a positive, how it seems to deviate from the pack of top card issuers.. 

If you look here.. https://www.valuepenguin.com/largest-credit-card-issuers

RUGuJSN

Compared to this table..

Company NameNumber Active Cardholder Accounts % of Total Market Share

Citigroup Inc.95.4M17.09%
JPMorgan Chase & Co.82.8M14.84%
American Express Co.*62.7M11.23%
Capital One Financial Corp.62.1M11.13%
Bank of America Corp.58.2M10.43%

American Express seems to really focus it's business on transactions and away from interest on debt which I find to be somewhat predatory in many cases and maybe not so good for consumers in general, so that makes amex very favorable to me and a business I'd rather work with.. 

 

I am not a huge fan of banks like many people on here seem to be.. In my opinion they are out to get you for everything they can and amex seems a little more out to make money off of the system and a bit less out to make money off the carduser.. I like this very much.. 

I am struggling with credit now because I have always been a pay cash in full kind of guy.. I bout 3 cars in the last year and PIF cash for them all though one I did swipe my debit card for.. Wish I had the credit limit to have been able to get some cash back on that biggest swipe I have ever made, lol.. 

Amex seems to be the lesser evil..



Well yes it makes sense that AMEX business is primarily tranaction vs interest based as that is the founding of the company...charge cards. Just the last 30 yrs they diversified into the revolving debt or rather the more direct revolving debt business with credit cards. As you have always had the option on the charge cards to carry over a balance that wasn’t the primary marketing focus, more of a convient perk if you needed a month or two to get that large purchase cleared.  AMEX is a cool card to have. For me, when you have an issue to resolve on a purchase made, the waters just seem to part and the heavens open up with rays of sunlight  letting you know your path is clear for take off🙂

Message 12 of 14
1CreditEd
Regular Contributor

Re: Approved For AMEX BCE

Wow, I just made my first pull payment on my BCE and my "available credit" instantly went back up to my full credit limit!

 

Even though it still shows in my balance..

 

My other cards do not do this, it takes them a couple of days for their available credit to come back up, after the payment clears.. 

 

It feels almost like I just got a CLI..

 

I'm quite paranoid about their being any balance sitting on any of my cards and my biggest peeve about credit cards is how long it takes to pay them.. 

 

Like I buy something and it takes 3 days to post to my account, and then another 3 days for my payment to clear, and I can only use the darn thing once a week..

 

 

They should just work instantly and if their is a problem with the payment fix it later, put it on my balance and tell me what it is for or whatever.. 

 

 

You know how high my secured credit limits would be by now if they would just let me pay an extra $10 every time I pay off the card? 

 

The banking system is a dinosaur.. 

Message 13 of 14
Overmedicated
Community Leader
Valued Contributor

Re: Approved For AMEX BCE

  It is nice that your payment makes your available credit ready within only a short time.  I often take advantage of the merchant offers that you must manually preload on the card before you buy.  The pay it/plan it is just an extra feature that I haven't used but it is nice that it is there.  Overall I think the BCE is a resonably solid overall card.  It isn't the best nor the worst as far as rewards go.  I have been considering upgrading to the BCP but I just can't bring myself to pay the 95 AF even though it would work out in my favor(I did the math).  

FICO 8
Message 14 of 14
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