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AMEX Gold Card & Chase Cards [seeking advice]

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Member

Re: AMEX Gold Card & Chase Cards [seeking advice]

I notice that a couple of you mentioned that if AUs spend more than primary card holder, the card will likely be reviewed/shutdown?

Will it happen even if I keep the account in good standing? 

Can someone clarify this for me..? This would be an issue for me..

 

Thanks !

Message 11 of 24
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Frequent Contributor

Re: AMEX Gold Card & Chase Cards [seeking advice]


@SWISH305 wrote:

I notice that a couple of you mentioned that if AUs spend more than primary card holder, the card will likely be reviewed/shutdown?

Will it happen even if I keep the account in good standing? 

Can someone clarify this for me..? This would be an issue for me..

 

Thanks !


I would be primarily concerned with long-term large spending (running $10k each month is large enough, even for primary holder) and the fact the transactions are foreign charges.

 

One issue is fraud related, as the banks may worry if the charges are authorized; fraudsters may run large charges with overseas merchants and try to get away with it, and it would be a lot of liability for the bank if the charges are unauthorized. If the charges are indeed authorized, they may wonder if you have the ability to pay back these charges, as annual spending would be $120k+ in addition to your own, but your reported income is lower than your annual spend. Even if you have the money to pay them, they can still be suspicious about if you got the funds from legitimate sources. These are related to banks' risk control mechanisms, and large spendings + foreign transactions are more likely to trigger them.

Message 12 of 24
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Member

Re: AMEX Gold Card & Chase Cards [seeking advice]

wow..  HUGE THANKS for your thorough explanation.. It really does make sense to me now.. I guess I was not fully understanding the concept of "Authorized User"

With Amex and Chase, would I have access to limit their spending to certain amount(~5k)? (just so that I could avoid any potential trouble aforementioned)

Also, from what I understand, while AUs are not legally obligated to pay for their purchases..but they still have access to pay off their balances directly (instead of me receiving money from them and pay them off), right?

As you can probably tell, I am still very new to this and have tons of questions.

 

Thanks !!!

Message 13 of 24
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Super Contributor

Re: AMEX Gold Card & Chase Cards [seeking advice]


@PlyrStar93 wrote:

@SWISH305 wrote:

I notice that a couple of you mentioned that if AUs spend more than primary card holder, the card will likely be reviewed/shutdown?

Will it happen even if I keep the account in good standing? 

Can someone clarify this for me..? This would be an issue for me..

 

Thanks !


I would be primarily concerned with long-term large spending (running $10k each month is large enough, even for primary holder) and the fact the transactions are foreign charges.

 

One issue is fraud related, as the banks may worry if the charges are authorized; fraudsters may run large charges with overseas merchants and try to get away with it, and it would be a lot of liability for the bank if the charges are unauthorized. If the charges are indeed authorized, they may wonder if you have the ability to pay back these charges, as annual spending would be $120k+ in addition to your own, but your reported income is lower than your annual spend. Even if you have the money to pay them, they can still be suspicious about if you got the funds from legitimate sources. These are related to banks' risk control mechanisms, and large spendings + foreign transactions are more likely to trigger them.


Another issue is money laundering, even when this is not happening. All a bank needs is a sniff of a suspicion and they will close accounts down in a nanosecond. $10K a month on a personal card is a lot. If your parents have a business, maybe a business CC is more appropriate. Just a thought. 

 

Also, with that kind of spend, be prepared for AmX to request a Form 4506-T. This is an IRS form allowing a CCC to request your tax info for the previous 2 years. If they request it, it’s not mandatory to submit it. But if they request it and you don't comply, it’s “no soup for you.”

 

And OP welcome to MyFICO. We’re glad you came here to ask your questions to become more informed of all the issues. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 14 of 24
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New Member

Re: AMEX Gold Card & Chase Cards [seeking advice]

College student, 22 yo, with a “strange” profile too making 80k.

 

One way to the get Amex Gold, if you get refused based on your current situation, is applying in your home country (provided Amex operates there) and doing a Global transfer service after 3 months. That’s how I got the Gold card after 1 week in the US. 

You should note that a high level of spending, like the one you described, will certainly raise some flags @ Amex. When applying for the Everyday CC my application was denied due to high concern level of my account (at the same time they gave me a 5k pay over time limit - nonsense) & account too new - 8 months. I usually put 4-5k/month that I’ve always paid before the bill was due. Long story short, they like high spending young users but not too much. 

 

However, building a good relationship with Amex: charge card then credit card is a good way to get Chase cards. A branch agent @ Chase told me that in a few more months (1year) I could apply for a Sapphire. He told me that it also matters doing Checking with them (as they can see the money you run). I’ve read on the forum that applying at the Branch might give some strength to your application. Provided that you get refused you can call reconsideration with the banker and try to push it. 

 

Good luck!

Message 15 of 24
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Member

Good News & Bad News (AMEX GOLD & CHASE AMAZON) & Q's

Hello all,

 

I finally pulled the trigger and applied for Amazon Prime Card by Chase inside Chase Branch (I had to go on my amazon account to actually apply, anyway). DENIED. 

So the lady who was helping me called for reconsideration, and I also spoke to the guy dealing with reconsideration on the phone.

Nothing changed. Still denied for having not enough credit history.. He only said Equifax was pulled for application, but for some reason I got a notification from my Experian App on my phone saying that Chase pulled the credit report. Is this what you call "double pull"?

So, I just felt really disappointed entire day and impulsively applied for AMEX GOLD about an hour ago. APPROVED!!!     YAY !

 

From Chase, I was told that I have 30 days from the day of application to ask for any second reconsideration should there be any changes to my credit report within that time period. I feel like I wasted hard inquiry for the credit card that I could not possibly get with 7 months of credit history.. Now I just feel kind of lost, and also my ultimate goal of getting Chase Sapphire Reserve by end of the year 2020 seems even more UNREALISTIC.. I guess I should have really listened to those who said: Chase= WAIT AT LEAST 1 YEAR; NOT FOR NEWBIES. Period.

If anyone could give me some advice/suggestions for me, it would be greatly appreciated..

Does anyone know when Apple Card will begin to show up on credit reports?

Also, I do not have an access for my Equifax & Transunion FICO score. What are the best ways to get those scores & reports?

 

Below is my info:

Annual Income: ~90K, Credit Utilization: 14 %, 0 derogatory, 0 late payments.

Credit Scores: EX FICO 8 750, EX FICO BANKCARD SCORE 8 746 (As of 09/09/2019)

                          TU 713 (FROM APPLE CARD APPLICATON, NOT SURE WHICH VERSION) (ON 08/16/2019)

                          TU Vantage Score (given by creditwise through Cap1 Account) : 693

My current list of credit cards: Capital One Secured Mastercard $500 (OPENED FEB 01 2019)

                                                       Apple Card $5,000 (OPENED AUG 16 2019)  (NOT ON REPORTS YET)

                                                       AMEX GOLD NPSL (APPLIED & APPROVED 09/09/2019)   

THANKS IN ADVANCE !

Message 16 of 24
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Epic Contributor

Re: Good News & Bad News (AMEX GOLD & CHASE AMAZON) & Q's


@SWISH305 wrote:

Hello all,

 

I finally pulled the trigger and applied for Amazon Prime Card by Chase inside Chase Branch (I had to go on my amazon account to actually apply, anyway). DENIED. 

So the lady who was helping me called for reconsideration, and I also spoke to the guy dealing with reconsideration on the phone.

Nothing changed. Still denied for having not enough credit history.. He only said Equifax was pulled for application, but for some reason I got a notification from my Experian App on my phone saying that Chase pulled the credit report. Is this what you call "double pull"?

So, I just felt really disappointed entire day and impulsively applied for AMEX GOLD about an hour ago. APPROVED!!!     YAY !

 

From Chase, I was told that I have 30 days from the day of application to ask for any second reconsideration should there be any changes to my credit report within that time period. I feel like I wasted hard inquiry for the credit card that I could not possibly get with 7 months of credit history.. Now I just feel kind of lost, and also my ultimate goal of getting Chase Sapphire Reserve by end of the year 2020 seems even more UNREALISTIC.. I guess I should have really listened to those who said: Chase= WAIT AT LEAST 1 YEAR; NOT FOR NEWBIES. Period.

If anyone could give me some advice/suggestions for me, it would be greatly appreciated..

Does anyone know when Apple Card will begin to show up on credit reports?

Also, I do not have an access for my Equifax & Transunion FICO score. What are the best ways to get those scores & reports?

 

Below is my info:

Annual Income: ~90K, Credit Utilization: 14 %, 0 derogatory, 0 late payments.

Credit Scores: EX FICO 8 750, EX FICO BANKCARD SCORE 8 746 (As of 09/09/2019)

                          TU 713 (FROM APPLE CARD APPLICATON, NOT SURE WHICH VERSION) (ON 08/16/2019)

                          TU Vantage Score (given by creditwise through Cap1 Account) : 693

My current list of credit cards: Capital One Secured Mastercard $500 (OPENED FEB 01 2019)

                                                       Apple Card $5,000 (OPENED AUG 16 2019)  (NOT ON REPORTS YET)

                                                       AMEX GOLD NPSL (APPLIED & APPROVED 09/09/2019)   

THANKS IN ADVANCE !


This sounds like one for @CreditInspired Smiley Happy

 



 

popcorn eating emoticon.gif

Message 17 of 24
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Community Leader
Super Contributor

Re: Good News & Bad News (AMEX GOLD & CHASE AMAZON) & Q's


@M_Smart007 wrote:

@SWISH305 wrote:

Hello all,

 

I finally pulled the trigger and applied for Amazon Prime Card by Chase inside Chase Branch (I had to go on my amazon account to actually apply, anyway). DENIED. 

So the lady who was helping me called for reconsideration, and I also spoke to the guy dealing with reconsideration on the phone.

Nothing changed. Still denied for having not enough credit history.. He only said Equifax was pulled for application, but for some reason I got a notification from my Experian App on my phone saying that Chase pulled the credit report. Is this what you call "double pull"?

So, I just felt really disappointed entire day and impulsively applied for AMEX GOLD about an hour ago. APPROVED!!!     YAY !

 

From Chase, I was told that I have 30 days from the day of application to ask for any second reconsideration should there be any changes to my credit report within that time period. I feel like I wasted hard inquiry for the credit card that I could not possibly get with 7 months of credit history.. Now I just feel kind of lost, and also my ultimate goal of getting Chase Sapphire Reserve by end of the year 2020 seems even more UNREALISTIC.. I guess I should have really listened to those who said: Chase= WAIT AT LEAST 1 YEAR; NOT FOR NEWBIES. Period.

If anyone could give me some advice/suggestions for me, it would be greatly appreciated..

Does anyone know when Apple Card will begin to show up on credit reports?

Also, I do not have an access for my Equifax & Transunion FICO score. What are the best ways to get those scores & reports?

 

Below is my info:

Annual Income: ~90K, Credit Utilization: 14 %, 0 derogatory, 0 late payments.

Credit Scores: EX FICO 8 750, EX FICO BANKCARD SCORE 8 746 (As of 09/09/2019)

                          TU 713 (FROM APPLE CARD APPLICATON, NOT SURE WHICH VERSION) (ON 08/16/2019)

                          TU Vantage Score (given by creditwise through Cap1 Account) : 693

My current list of credit cards: Capital One Secured Mastercard $500 (OPENED FEB 01 2019)

                                                       Apple Card $5,000 (OPENED AUG 16 2019)  (NOT ON REPORTS YET)

                                                       AMEX GOLD NPSL (APPLIED & APPROVED 09/09/2019)   

THANKS IN ADVANCE !


This sounds like one for @CreditInspired Smiley Happy

 




😉


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 18 of 24
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Community Leader
Super Contributor

Re: Good News & Bad News (AMEX GOLD & CHASE AMAZON) & Q's


@SWISH305 wrote:

Hello all,

 

I finally pulled the trigger and applied for Amazon Prime Card by Chase inside Chase Branch (I had to go on my amazon account to actually apply, anyway). DENIED. 

So the lady who was helping me called for reconsideration, and I also spoke to the guy dealing with reconsideration on the phone.

Nothing changed. Still denied for having not enough credit history.. He only said Equifax was pulled for application, but for some reason I got a notification from my Experian App on my phone saying that Chase pulled the credit report. Is this what you call "double pull"?

So, I just felt really disappointed entire day and impulsively applied for AMEX GOLD about an hour ago. APPROVED!!!     YAY !

 

From Chase, I was told that I have 30 days from the day of application to ask for any second reconsideration should there be any changes to my credit report within that time period. I feel like I wasted hard inquiry for the credit card that I could not possibly get with 7 months of credit history.. Now I just feel kind of lost, and also my ultimate goal of getting Chase Sapphire Reserve by end of the year 2020 seems even more UNREALISTIC.. I guess I should have really listened to those who said: Chase= WAIT AT LEAST 1 YEAR; NOT FOR NEWBIES. Period.

If anyone could give me some advice/suggestions for me, it would be greatly appreciated..

Does anyone know when Apple Card will begin to show up on credit reports?

Also, I do not have an access for my Equifax & Transunion FICO score. What are the best ways to get those scores & reports?

 

Below is my info:

Annual Income: ~90K, Credit Utilization: 14 %, 0 derogatory, 0 late payments.

Credit Scores: EX FICO 8 750, EX FICO BANKCARD SCORE 8 746 (As of 09/09/2019)

                          TU 713 (FROM APPLE CARD APPLICATON, NOT SURE WHICH VERSION) (ON 08/16/2019)

                          TU Vantage Score (given by creditwise through Cap1 Account) : 693

My current list of credit cards: Capital One Secured Mastercard $500 (OPENED FEB 01 2019)

                                                       Apple Card $5,000 (OPENED AUG 16 2019)  (NOT ON REPORTS YET)

                                                       AMEX GOLD NPSL (APPLIED & APPROVED 09/09/2019)   

THANKS IN ADVANCE !


At first, I was going to pass this one by but decided to take another read at the nudging of @M_Smart007 😁

 

So, OP, you decided not to take the advice of this awesome forum. 😤. That’s ok because you learned a valuabe lesson from a wasted HP. But dont be too hard on yourself because believe me, we’ve all been there, done that. 

 

OK, so here are my suggestions:

 

1. Don’t apply for any more cards until your AoYA is 12 months. And when you do, check prequal first! Discover or even another AmX may be good choices. And only apply for one card after that at 6-month intervals. 

 

2. Go to www.creditchecktotal.com and get your 3 FICO scores. It’s $1 for a 7-day trial. Cancel prior to 7th day or you’ll be automatically charged $29.99/mo until you cancel.  

 

3. Don’t apply for the CSR until you have at least 2 other cards exceeding $5K. Chase does not want to be your first card with this limit. Having a secured card in your profile says your credit profile is lacking the requirements needed for prime cards. On another note, as you now know, your credit history is very thin. But the good news is that TIME and PATIENCE will cure that!

 

4. Most times Chase pulls 2 reports (in my case anyway). You’ll probably get another alert soon. If Chase didn’t do a 2nd HP, count your blessings. 

 

5. Garden. This is a great time to let your cards age. Again, time and patience. 

 

6. Since the Gold card is a charge card, that’s probably why you were approved. So, in 61 days ask for a 3X CLI. 

 

I believe if you follow our advice this time, success is only 12 months away. 

 

GL2U


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 19 of 24
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Contributor

Re: Good News & Bad News (AMEX GOLD & CHASE AMAZON) & Q's

ask for a CLI for what? There’s npsl
Message 20 of 24
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