Future with AmEx ED

[Gregory1776]

American Express EveryDay - I don't use it - except for the beginning of the year to keep gas purchases on one card to see how much I spend in fuel for the year, and after I stop getting 5% on DISCO

How can I get more value out of this? I hate to have more Credit Cards than I need, but also to lose the credit limit, and the age of the account. How can I make it more useful to me? 

increasing the credit limit would do that, but Amex is asking for more information - I forget what, they don't decline it but I hadn't proceeded to forward them what they're requesting. What is it that they are requesting? 

thanks. This is all over the place, a little or a lot of help is greatly appreciated.

[Anonymous]

It's a low value card, and you need to make 20 transactions a month on it to make it even slightly worthwhile, and that takes transactions away from other cards.   And of course it earns MRs so you need to have a good way of getting value from those.

Re CLI: Amex is probably requesting proof of income from you, usually by asking you for a form that allows them to get your tax transcripts from the IRS.

[Gregory1776]

oh *** 😂 i thought they just wanted to see my bank account balances. does anyone have any idea what theyd like to see there? income to Credit limit ratio? not really interested in doing that until im well into the 6 figures. i made 70 or so last year... 85K then 80. im always expecting to make 100 or so but it never worked out.

Old Employer. finished with him.

[FlaDude]

No AF so just keep it for age and CL if nothing else. General advice is to put a charge or two a year on cards to prevent CLD or closing, but in my experience with Amex and this card in general, not using it for years at a time doesn't seem to matter. I tried to close mine one time and they threw a decent retention bonus my way, you could give that at try.

[SouthJamaica]

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@Gregory1776 wrote:

American Express EveryDay - I don't use it - except for the beginning of the year to keep gas purchases on one card to see how much I spend in fuel for the year, and after I stop getting 5% on DISCO

How can I get more value out of this? I hate to have more Credit Cards than I need, but also to lose the credit limit, and the age of the account. How can I make it more useful to me? 

increasing the credit limit would do that, but Amex is asking for more information - I forget what, they don't decline it but I hadn't proceeded to forward them what they're requesting. What is it that they are requesting? 

thanks. This is all over the place, a little or a lot of help is greatly appreciated.

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1. Only you know what information they were requesting.  Typically they ask for a 4506 form which merely gives them the right to check your tax returns. If they're asking for anything else, only you know what they asked for.

2. And only you know what is useful to you. I'm not clear as to how increasing the credit limit on a card you do not find useful would make it more useful. I think I once had the Everyday card, and found it useless, because the rewards were MR's which weren't useful to me.

[GZG]

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@Gregory1776 wrote:

American Express EveryDay - I don't use it - except for the beginning of the year to keep gas purchases on one card to see how much I spend in fuel for the year, and after I stop getting 5% on DISCO

How can I get more value out of this? I hate to have more Credit Cards than I need, but also to lose the credit limit, and the age of the account. How can I make it more useful to me? 

increasing the credit limit would do that, but Amex is asking for more information - I forget what, they don't decline it but I hadn't proceeded to forward them what they're requesting. What is it that they are requesting? 

thanks. This is all over the place, a little or a lot of help is greatly appreciated.

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open an amex card you do want and move the limit over to it, otherwise if you don't want it close it, or wait to see if they have plans to revamp it, which they may very well have plans for sometime this year 

[nytokyobred79]

Have you gone back to check what the online document in your account is requesting, ie., the 4506 form or copies of your last 3 bank statements/ pay stubs? It's usually pretty clear what they need from you. You should have also received an email as well so if you check that email again, it'll have a link to take you to the document that states what additional info is required. Hopefully, it's

just bank statements unless you're comfortable giving them access to your taxes. G'luck either way. 

[OrangeRange]

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@Gregory1776 wrote:

American Express EveryDay - I don't use it - except for the beginning of the year to keep gas purchases on one card to see how much I spend in fuel for the year, and after I stop getting 5% on DISCO

How can I get more value out of this? I hate to have more Credit Cards than I need, but also to lose the credit limit, and the age of the account. How can I make it more useful to me? 

increasing the credit limit would do that, but Amex is asking for more information - I forget what, they don't decline it but I hadn't proceeded to forward them what they're requesting. What is it that they are requesting? 

thanks. This is all over the place, a little or a lot of help is greatly appreciated.

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Do you ever plan on diving into MR points earning? The Everyday is as great card to store your MR long-term as it's no annual fee. If you don't plan on getting into the MR ecosystem, then perhaps apply for the BCE as your long-term Amex keeper card as it gives you 3% back on gas up to $6K, move the limit of the Everyday over to it, and close the Everyday. 

I totally get you on not wanting more cards than you need. If the Everyday is your oldest card though, I'd probably keep it. If you have other, older cards, then close it after you've opened a card you wouldn't mind keeping long-term with Amex to keep your credit limit. 

[Gregory1776]

I have the BCP.

[FicoMike0]

Will they upgrade to bce or Bcp?