FNBO Amex - Prime Card/Bank - Worth it?

[Changingmantra]

Hello All -

I received an offer for a FNBO Amex - Interestingly, unlike others', mine does not list any rewards, just APR and balance transfer offers -  I am technically still a rebuilder - BK fell off recently - but have a 2 and 4 year old judgment - Clean report otherwise - scores 722-730.  I Do not need/want a pocket-full of credit cards - Only really wanted to get back with Discover and Citi Bank, pre-bankruptcy accounts I had.  Currently, I have Discover IT $$5000 - Barclay US Airways MC - just got  a $1500 ACLI to $6200 - and recently approved for Citi Simplicity, $5000.  Feeling myself, after the Citi approval, I applied for Chase - Amex - and another Citi card - Denied on all three.

I would not mind having an Amex to round out my card collection, but I do not want to go backwards to mid-level cards and banks.  I know nothing about this bank or card, and am wondering if, instead of accepting this offer to get and Amex network card, I should just wait a few years to get a card directly through them, maybe even just stick with what I have, as I already have more credit than I actually need.  I would still like to know if you consider this bank and card mid-level or prime.  Thanks 

[navigatethis12]

There's nothing wrong with this bank, but there isn't anything that stands out either. Their rewards are alright, but can be better elsewhere. They do offer soft/preapproved credit limit increases if you ring in. I went from 10,000 to 15,000 in less than one minute. Other than that, I don't see anything remarkable about them.

[drkaje]

From what I've read (here) applications are all manually reviewed.

Really haven't seen anything from them worth an HP but am guessing FNBO may not be the best place for someone rebuilding.

[takeshi74]

Worth is always highly subjective no matter what the topic. We can't tell you if it's worth it to you or not. That's your call to make based on your needs/wants. If worth was universal then either everyone would have the FNBO AmEx or no one would have it. Instead, in the real world, some do and some do not given their varying situations, needs/wants and priorities.

---

@Changingmantra wrote:

I would not mind having an Amex to round out my card collection, but I do not want to go backwards to mid-level cards and banks. 

---

Is that really your only criteria?  It sounds like you're just reacting to the offer.  Sort out all your needs/wants.  Hopefully it's more than just the AmEx logo on the card.  Then find cards that fit your needs/wants.  Don't let a bank's marketing department make the selection for you.

[jsickz32]

The rewards are meh. I only have the card cuz i was pre approved for it. Im weak like that lol

[ezdoesit]

Just remember what you just said you have more credit right now than you actually need.  So why apply for a card just the sake of applying because they sent you an offer if I did that i would have fifty cards in my wallet.

If you really want to get back into Amex network then you can always apply for a charge card because they have lower a approval criteria.  Of course without knowing your recent history AAOA, Inq or when you opened your last account it is hard to judge if it would still be the right time to apply for a Amex now or just wait like you said.

[longtimelurker]

And what are the advantages of having an Amex network card, as these have none of the advantages (backdating etc) of Amex cards issued by Amex?  Yes, network diversity, but are there many places you want to use that take only Amex?

[longtimelurker]

---

@navigatethis12 wrote:

There's nothing wrong with this bank, but there isn't anything that stands out either. Their rewards are alright, but can be better elsewhere. They do offer soft/preapproved credit limit increases if you ring in. I went from 10,000 to 15,000 in less than one minute. Other than that, I don't see anything remarkable about them.

---

I see there is another older but active today thread on this, http://ficoforums.myfico.com/t5/Credit-Cards/First-National-Bank-Omaha-AMEX/td-p/1949405, singing praises of this bank!

[Dubious]

If the only reason you're considering it is because it runs on the Amex network, then I'd have to say that no, it's not worth it. Running on the AmEx network doesn't have any benefits above a Visa or mastercard and it does not mean that you're "in" with Amex. 

If you're considering the card because of other features or benefits, then thats a different story. From a brief glance at it, it does seem rather unremarkable. 2% gas/groceries and 1% elsewhere? You can find a better deal. 

[Changingmantra]

I called this bank - and I was told that the offer I received does not come with rewards.  That and the feedback here pretty much solidified my decision to pass on it.  My Simplicity does not carry rewards, but I do have 18 months of no interest, which is very important to me at the moment. I received a similar promotion in the mail from Barclay MC recently-until 4/14.  I called Discover tonight, and they lowered my APR to 3.5% for 6 months.  I have been doing a lot of traveling lately, and could use a better travel rewards card than the Barclay US Airways Platinum.  I will just wait to see what happens after this merger.  Who knows, maybe I will end up with one of their Arrival cards by way of a PC.  Thanks for the feedback!