I have excellent credit, but I have some questions

[Gollum]

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@Gollum wrote:

I applied online for the American Express Blue Cash Everyday CC, and was approved within a few seconds. The credit limit is $7500. I didn't want that high a credit limit. I'd prefer a $1000 credit limit for this card, because (so far, at least) I plan to only use it for Android Pay (where I see the little symbol on the pay terminal/whatever) and gasoline purchases using the plastic card at the pump. I only got this card because I want to use Android Pay with my smartphone, my only current choice for Android Pay currently is my Capital One CC, and I don't want to give any more business to Capital One.

For anyone who is wondering how to enter the seeming stratosphere of creditworthiness: My annual income is currently $42,700. I have been fortunate enough to have been able to pay my bills on time for the last twenty years or so.

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My (Experian) FICO score on the American Express website is 846 as of June 29.  A FICO score of 846 seems impossible to me, but here I am.  Pay your bills on time, folks, if you want a higher FICO score.

[RonM21]

That means you really put in the work to get to that point. Well earned, I'm sure!

[Anonymous]

OP, if you're looking for strictly cash rewards, I've never seen a card offer more in terms of % back than the BCP. 

If you're looking at Visa or AMEX only, the BCE card is probably better in terms of more rounded spending, but that's a points program. 

The Citi Double Cash is a MasterCard, so that's a no-go for you. 

There is the AMEX Blue CASH that offers 0.5% on all purchases outside of 'everyday' purchases, which includes supermarkets, gas, and drug stores (1%) for the first $6,500 in purchaes in a year, and then 1% on all other purchases while giving you 5% on those 'everyday' purchaes after that---up to $50,000 in spending per year, with no annual fee. 

My best best with the Amex Blue Cash is to spend almost all of the first $6,500 per year at the grocery store, on gas, and at drug stores, and then spend it wherever you want afterwards until you reach that $50,000 a year mark. 

1% on first $6,500 = $65.00 back. 

5% back on $10,000 in purchaes after = $500 back.

1% on all other purchases after (say $20,000 in spend) = $200.00. 

Total? $765 back on $36,000 in spend. 

[Anonymous]

Congratulations on all your successful credit building!

[Anonymous]

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@Gollum wrote:

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@Gollum wrote:

I applied online for the American Express Blue Cash Everyday CC, and was approved within a few seconds. The credit limit is $7500. I didn't want that high a credit limit. I'd prefer a $1000 credit limit for this card, because (so far, at least) I plan to only use it for Android Pay (where I see the little symbol on the pay terminal/whatever) and gasoline purchases using the plastic card at the pump. I only got this card because I want to use Android Pay with my smartphone, my only current choice for Android Pay currently is my Capital One CC, and I don't want to give any more business to Capital One.

For anyone who is wondering how to enter the seeming stratosphere of creditworthiness: My annual income is currently $42,700. I have been fortunate enough to have been able to pay my bills on time for the last twenty years or so.

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My (Experian) FICO score on the American Express website is 846 as of June 29.  A FICO score of 846 seems impossible to me, but here I am.  Pay your bills on time, folks, if you want a higher FICO score.

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And a long history helps (I have 850 on all 3).

Re the original point:   it seems the major driver for OP was to get something that worked with Android Pay (and wan'st cap one or MC).  While this certainly wouldn't be my criterion (I would use Samsung Pay anyway!) it's not too much stranger than what we see from others here (card from each network, card from each issuer, high SL from people with lots of credit, low APR from people who PIF and have other low cards etc)

[Anonymous]

I read and scratched my head...this post was so similar to one a few weeks ago ( I wish I could remember the thread) but it was more a validation thread than help or opinions.

Sorry Op but all I got is that you wanted us to know your credit scores, when scores are good for somethings like APR it's not always the best thing to jump through a hoop for. The credit game is a rancid little beast and having a higher score usually equates to bigger losses if you get anything negative....Not saying that you will but a comment that you made "pay your bills on time......." left a sour taste on my throat and went to my belly....If paying your bills on time was all that was needed, credit wouldn't be an issue and neither would scores...You would just use yoru debit card and not carry balances.

[Anonymous]

Simmons is not very different than Barclay Ring.  Almost the same low apr and my initial sl was 15k.  Always good to keep more limit on the cards.  I am the type that can go in a store, find something I have to have, and boom, there goes $$$.  And with a higher limit, you never have to worry about your ut on that one card going over 20-30%.  

[Anonymous]

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@Anonymous wrote:

Simmons is not very different than Barclay Ring.  Almost the same low apr and my initial sl was 15k.  Always good to keep more limit on the cards.  I am the type that can go in a store, find something I have to have, and boom, there goes $$$.  And with a higher limit, you never have to worry about your ut on that one card going over 20-30%.  

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Right, the cards are pretty similar in outcome, but Simmons is harder to get (for those that care about such things).  As the OP said: " Whenever I think about my Simmons First CC, I get a certain amount of satisfaction just because a small group of people at Simmons First has voted their confidence in me."

And while you may think that is, well, you know, it is apparently of value to the OP.

[kdm31091]

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@Gollum wrote:

I'm not averse to getting another VISA card, but the American Express Blue Cash Everyday seems appealing to me because it seems to have realatively "good" rewards, and it's on the above list of participating banks for Android Pay. I'm not very enthused about getting 75 cents back on a $25 grocery store purchase, or 15 cents back on a $15 gasoline purchase, but I sorta like the idea of getting an American Express card, and I sorta like the way the Blue Cash Everyday card looks.

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I just want to comment that I find that people often seem to want specific networks for no clearly defined reason. Other than Amex Offers, there's no real distinction of an Amex vs anything else, other than being less accepted at smaller types of merchants (chains are not usually a problem). Is there a specific Amex benefit you're after? Not to say there are no benefits with Amex, but don't focus too much on network unless you have a reason.

Like lurker said, we often see people wanting a card from each network, and with very few exceptions (such as Costco who only takes Visa for credit), the major networks especially MC and Visa are basically interchangeable. Instead of worrying about network, worry about benefits and what  will actually suit you. Maybe Amex has nothing that meets your needs, and that's fine.

[disdreamin]

FICO 8 and 9 scores of 850 across the board are entirely possible, and a long history with no derogs is the way to go. As others have said though, if it were that simple we'd all do it. Congrats on your good score(s) and hope the new card works out for you. I love my BCP and have about $700 to show for using it the past 1.5 years or so. It's definitely earning it's keep. 😀