@Anonymous wrote:
I wouldn't mind having an AMEX card, now I know is not a credit card but a charge card instead and the balance has to paid in full, wich I actually like that, in fact I would love to do that with my other cards but I know that keeping a balance on them help my credit score and payment history
It sounds like you're confusing things. You never need to carry a balance for scoring purposes. You may want a balance to report but having a balance report and carrying a balance are two entirely different things. You can certainly pay all your cards in full and still have however many balances you want to report. It's all a matter of when you pay in full. If you pay in full prior to report date (statement date for most cards) then you won't have a balance report. If you wait until after the statement is generated and then pay then a balance will report. Any payment you make after the balance is reported will not reduce the reported balance.
You also don't need to carry a balance for payment history. Payment History is based on payments -- not carried balances.
@Anonymous wrote:
now the question is what impact will applying and having the AMEX card have on my credit score, since they don't have a credit line ammount or credit limit, how this will be reflected in my score?
It's not simply a matter of the card itself but your existing profile and how the card impacts your profile. In other words, there isn't a fixed impact for all people for any given card. That said, current models generally don't factor charge cards into revolving utilization.
@Anonymous wrote:
I wouldn't mind having an AMEX card
Given what I've posted make sure you carefully reassess how AmEx charge cards are suited to you. Carefully review the Membership Rewards programs to see if you can make the most value per point via redemptions. My wife and I have been taking the Platinum for a spin but we really can't do much with MR points so we'll be ditching it in the near future. Ultimate Rewards is just better suited to us.
@Anonymous wrote:
Other question I have is that I've read that is better to apply for the Gold instead of the Green since is a better card and the chances of approval are about the same, but my pre aproval is for the green tho.
Better is always highly subjective regardless of topic but many don't find the Green worthwhile given its MR earn rate and benefits compared to the PRG (not the standard Gold). Given that best is subjective you need to see if the MR earn rates and benefits are worth the AF for you. That said, there are those who find the Green best suited to their specific needs/wants.
Its not a matter of odds. Approvals aren't just random. Whether one is approved or not all depends on whether or not one's credit and income qualify. The underwriting criteria is the same for all charge cards except the Centurion. You just pick the features, benefits and AF that best suit you.
Preapps are just marketing so don't just respond to preapps and offers. Use you specfiic needs/wants to select cards that are suited to you and apply for them.
