Amex Upgrading/Converting Card Policy

[NRB525]

---

@Anonymous wrote:

Guess I'd like to find a work around for a PC without a HP. I'm HP adverse. What about where is says, "If we identify you as currently having an American Express® Card account, you may not be eligible for this welcome bonus offer. This offer is also not available to applicants who have or have had this product." I'm interested in the Premier Rewards Gold Card, and those 50,000 points. I might be tempted to take the HP. 

So Open13, what are your scores and CCs? 

---

If you have not had the specific card before, you get the bonus.

If you have had the specific card before, you don't get the bonus.

The generic language is there, on all the cards, but it is applied to each card specifically.

Your scores will allow you to get any AMEX card you want, short of the Centurion. But that's $2,500 just to get them to look at you, so you aren't apping for that, are you?

[Open123]

---

@Anonymous wrote:

Guess I'd like to find a work around for a PC without a HP. I'm HP adverse. What about where is says, "If we identify you as currently having an American Express® Card account, you may not be eligible for this welcome bonus offer. This offer is also not available to applicants who have or have had this product." I'm interested in the Premier Rewards Gold Card, and those 50,000 points. I might be tempted to take the HP. 

So Open13, what are your scores and CCs? 

---

Log off Amex, and use private browser (cookies and cache cleared) and the "identify you as Amex customer" will never come into play.

My scores are around 720 - 740, and I have around 12 personal CCs that I cycle for bonuses.  I only have Amex, Chase, Citi, US Bank, Cap One and Discover.  I have tons of current and closed Amex TLs, all backdated to create a ballast for adverse AAOA from my new apps for bonuses.  

[Open123]

---

@NRB525 wrote:

You do lose all the benefits, if you PC, because the first year AF is no longer waived, so you have to start trying to earn out of the AF from day one, not on day 366 if the card is still open and the AF is charged.

---

Right, PC and start at negative $195.  So, you'd have to spend $9,750 on dining just to recoup the MR points to offset the fee.  

*Edited*  PS - In addition, losing out on the 50K bonus (and, any potential future bonus for the rest of your life) brings it to about a negative $700 in absolute cash equivalent terms.  This sound smart to anyone?

[Anonymous]

I'm not familiar with product changes at American Express. If you have already spoken with CS with unfavorable results, then I would call, write, or email the EO. Best of luck!!!

SN: My DH still has the Amex clear so he will probably soon be in the same boat.

[Anonymous]

While I'm HP adverse, I'm also a bit cheap or too frugal for the Centurion. It's too rich for my blood. Even the $195 AF with the Amex Gold Prf seems high. But if I were to go for it, I'd definitely take the hit and get the 50,000 MR points as tradeoff. 

It's funny but when your score is lower whatever the score is, inquiries seem less important. The higher your score moves up, the more valuable each inquiry becomes at least to me. You start to see the direct cost. Then it becomes somewhat more important to know if you really want the card. 

[Open123]

---

@Anonymous wrote:

While I'm HP adverse, I'm also a bit cheap or too frugal for the Centurion. It's too rich for my blood. Even the $195 AF with the Amex Gold Prf seems high. But if I were to go for it, I'd definitely take the hit and get the 50,000 MR points as tradeoff. 

It's funny but when your score is lower whatever the score is, inquiries seem less important. The higher your score moves up, the more valuable each inquiry becomes at least to me. You start to see the direct cost. Then it becomes somewhat more important to know if you really want the card. 

---

Well, I'd imagine most people aren't going to pay the PRG fee, ever.  I'm not, and only app'ed for the 50K MR and free year of 2X dining and 3X airfare.  I will cancel before next the fee hits.  The PRG only makes sense for Corp travelers with lots of Airfare.  I really don't understand this preoccupation with, "well, if I don't use it for the next 10 years, it doesn't make sense" thing.  

Right, at 720 - 740, regardless of what I do, it's in that rage.  Every approval, I receive the "too many inquiries" stuff, but have always been approved.  If everything is in order, Issuers really don't care about HPs, unless it's an exorbitant amount.

[kdm31091]

---

@Open123 wrote:

---

@Anonymous wrote:

While I'm HP adverse, I'm also a bit cheap or too frugal for the Centurion. It's too rich for my blood. Even the $195 AF with the Amex Gold Prf seems high. But if I were to go for it, I'd definitely take the hit and get the 50,000 MR points as tradeoff. 

It's funny but when your score is lower whatever the score is, inquiries seem less important. The higher your score moves up, the more valuable each inquiry becomes at least to me. You start to see the direct cost. Then it becomes somewhat more important to know if you really want the card. 

---

Well, I'd imagine most people aren't going to pay the PRG fee, ever.  I'm not, and only app'ed for the 50K MR and free year of 2X dining and 3X airfare.  I will cancel before next the fee hits.  The PRG only makes sense for Corp travelers with lots of Airfare.  I really don't understand this preoccupation with, "well, if I don't use it for the next 10 years, it doesn't make sense" thing.  

Right, at 720 - 740, regardless of what I do, it's in that rage.  Every approval, I receive the "too many inquiries" stuff, but have always been approved.  If everything is in order, Issuers really don't care about HPs, unless it's an exorbitant amount.

---

Right, but not everyone has the same priorities. Some people don't want to apply for a card just for a bonus etc and don't want their reports cluttered for years with all of the "open/closed/open/closed" accounts. Different strokes for different folks. Of course you find it worthwhile because you are interested in the bonuses but it is not worthwhile for everyone. I wouldn't apply for a PRG because I know I can't justify it long term, but I know others don't care and just use it for a year.

I agree with your point about inquiries though. Once your profile is thick and well-established, the number of inquiries by itself becomes less important.

[Anonymous]

So how many HPs do you have Churner123...I meant Open123? So basically you open the account for the MR and then close it after 1 year? Do you have any cards with AFs? Open...how many MR points have you racked up or earned this year?

I believe I read here before, but is there some sliding scale for inquiries based on the number of points deducted? Is there a point beyond which you no longer lose points based on the # of inquiries? 

[Open123]

You're right. Go with what you feel is best.

Best of luck to you in your credit journey!

[Anonymous]

So how many Hps do you have on each CR?