@ronstar7 wrote:
So how bad is it if I DONT take Amex up on their offer? Meaning the 50,000 points when you spend 2k in 3 months. I really don't see myself that spending that much I never have on any card. What is that in flights? Round trip for one... two?
Don't rely on oversimplfications such as "good" or "bad". These are not universal matters. It's not just about the card or the offer. It's about your requirements and how well any given solution suits you.
For any rewards program like Membership Rewards you have to do your due diligence and research how well you can leverage the rewards program. You need to consider everything all the way from spend and earn rates through redemptions. The latter can greatly impact reward value so you need to understand which redemption methods you can leverage. Generally, greeatest value is attained by transferring to travel partners so you need to look at transfer rates as well as the partner's rewards program. Figure out the value you can get and then decide if that card is a good fit for you.
I've done that for some programs and after sorting that out I've determined that I can get much better rewards value with UR and very poor rewards value with MR. Ahain, this is not a universal matter. There are certainly those who can get better value with MR. You have to do your due diligence and run the numbers for your spend and the redemption options you can use.
If you cannot or will not do that analysis then stick with cash back cards. The math on them is very easy and straightforward. You just have to consider your spend and multiply by the earn rate.
@ronstar7 wrote:
also o got approved for the green charge card is it true it doesn't report? Why? And it's no preset spending limit... Is that good or bad? I prefer to see a hard limit lol
AmEx's charge cards definitely report. What you're probably thinking of is that charge cards don't factor into revolving utilization for current scoring models (but do for some older models).
Again, it's not simply a "good/bad" matter with regard to NPSL. That's for you to determine. If you prefer having a clearly defined limit then it's not a good thing for you. Plenty of people find their NPSL charge cards very useful. It isn't just a matter of the card itself. It's about how well a given card suits your specific requirements.
@ronstar7 wrote:
BUT I dotn want my statement to cut with such hight utl. if I couldnt pay all that back before it cuts. The intrest would kill me, as I got the highest one I think its 19% something. Why did they have to make it so much lol.
You don't have to pay before statement cut to avoid interest. You just have to pay the statement balance in full. It's a charge card. It's designed to be paid in full.
@ronstar7 wrote:
These are my first 2 amex cards and I want to do them right. If Ieave a balance on the Delta they might not like that. I have read many horrror storied on here about AA and things like that I just dont want to stir the pot so early in the game. Oh well if I can I will if I cant I wont worry about it. If I get approved for the Freedom (still waiting) Ill get something back from them with a much smaller spend.
If you're carrying balances then forget rewards as interest will more than wipe out any potential rewards.
The "AmEx hates balances" meme is yet another oversimplification that you shouldn't be relying on. It's never just about the one account. One's entire credit profile matters. AmEx doesn't just AA because one has a balance. Any creditor AA's when one's credit profile presents more risk than the creditor is willing to accept and risk isn't about the balance on a single card. There are many factors at play and you need to consider all of them.
@ronstar7 wrote:
Turns out I wont be getting it... why you ask? Oh well thats because my lovely car company is still so acient that they dont accept cc payment online, over the phone, or period (Honda) ugh the groceries and cell wont even come close.
Has nothing to do with ancient or modern. Not all merchants accept all pamyent types. It's not uncommon for auto lenders to not accept cards as a payment type.
Starting scores after BK (Filed 4/18/24) EQ 571 , TU , EX
also o got approved for the green charge card is it true it doesn't report? Why? And it's no preset spending limit... Is that good or bad? I prefer to see a hard limit lol
