AMEX

[Anonymous]

i wish i would have known before hand. oh well, my wife works for the skymiles partner and it's kind of a status thing. you're part of the club if you have the card (least that's the impression i get). given that fact she most likely would have been ticked if i would have converted it.

[Anonymous]

Do you have to speak with a CSR to convert the Amex card, people want to know. Give us simple step by step instructions. Can an Amex Charge Card be converted to a Credit Card with ease??? Help I realy want to know before my Green card gets here?

Thanks ,

???

[Anonymous]

All AMEX cards are considered PRIME. So if you get any AMEX is fine. As for some, the $2,500 line is a blessing from the sky, but to others anything less then AMEX BLACK CENTURION is SUBPRIME.

[Anonymous]

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credit4me wrote:

I applied for the AMEX blue and was denied. Since being on this site I here a lot of talk about the Gold Delta skymiles by AMEX. Would AMEX send me a possible offer to one of their lower cards like the skymiles or should I just leave it alone at this point since already being denied for the Blue?

Oh yeah, I already have 5 cards but wish to get rid of 2 of them for something more positive.

Card I currently have:

Cap One (Hassle Free cash)

First Preimier

Wamu

Best Buy (MC)

Legacy

Want to get rid of First Preimier & Legacy.

Anybody?????

Message Edited by credit4me on 08-29-2007 07:10 PM

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I am opposed to the majority and in agreement with you. First, let me state that I am far from any expert and the advice I have received on this forum is invaluable, but I just closed 2 First Premiers, 1 Legacy, and 1 1st Savings. All because of annual fees and monthly maintenance fees. So far, my TU has dropped 5 points, my Ex has risen 10 points and my EQ has risen 1 point. All other factors are equal except for a couple of extra inquiries. I am beginning to believe that FICO actually recognizes Sub-Prime cards. Then again, maybe I am just hallucinating!!!

[Anonymous]

Search myFICO.com forum posts on converting AMEX cards. Many people converted diffferent cards but I have not heard of converting a charge card to a credit card.

[Anonymous]

Can anyone tell me about my situation.  I had a Bk 10 years ago and had a $2500 charge off with Amex Optima.  I would like to apply for a new Amex account, maybe the Delta or Blue card.  My current credit scores are around 700 and I have $15K-$20 limits on other cards now.

Will they reject me because of the past charge off?

Anyone had any expereience with such????

[Anonymous]

Though closing your credit cards does not discriminate you one way or another in FICO score terms. The drops do happen most of the times as othe factors kick in, such as Utilization % and lenghts of time of open accounts. if it's costing you money-close it. But if it's no annual fee but still a small credit line, better keep it.

Remember that next time you apply for a credit card, their own scoring is going to look at how you manage your credit cards in the past. if you are a closer of cards, then guess what? why give you a card and allocate a nessesarry funds to cover your credit line if it's not worth it.

One thing that most people don't understand is that the bank has to make reserves for your credit ( in most cases however before it is packaged in to CDO's ).

[Anonymous]

All I can type you is that AMEX does not forget.

Try applying and see what happens, then comeback and type us.

[Anonymous]

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montana wrote:

Though closing your credit cards does not discriminate you one way or another in FICO score terms. The drops do happen most of the times as othe factors kick in, such as Utilization % and lenghts of time of open accounts. if it's costing you money-close it. But if it's no annual fee but still a small credit line, better keep it.

Remember that next time you apply for a credit card, their own scoring is going to look at how you manage your credit cards in the past. if you are a closer of cards, then guess what? why give you a card and allocate a nessesarry funds to cover your credit line if it's not worth it.

One thing that most people don't understand is that the bank has to make reserves for your credit ( in most cases however before it is packaged in to CDO's ).

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I agree with you Montana and would never close an established card that is not costing me money, but the ones I mentioned were nickeling and diming me to a slow painful death. I tried to acquire CLI, lower APR, and annual fee waiver or any combination thereof and they all said no way. So I took the plunge and closed them, fully expecting my scores to plummet for the short term. But somehow, it did not happen as I expected. Could it be that this has less effect when you have lower scores like I do (mid 600s)?  

[Anonymous]

It would mean that your overall history is fine and other factors are helping your score.

Look, my income is mid 6 figures but i got a $2,000 AMEX DELTA today. It is just too low but my scores are TU-689, EQ-657, EX-633. Could it be because i purchased our house in san francisco with a check instead of applying for mortgage?

I don't know what to type you other then my EX shows only 6 month old credit and my TU shows me as 12 year history.

Bummer .....

Message Edited by montana on 08-29-2007 06:59 PM