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Question about Amex CC

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Community Leader
Mega Contributor

Re: Question about Amex CC

Guns, no, cashback doesnt pool. Different cards.
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Message 11 of 20
Regular Contributor

Re: Question about Amex CC

Hello

Not to sound too crazy, but what date do they count as your first day with a new card/acct?  Is it the day you are apprvd, or as of the first day you activate? Thx

 

M

Message 12 of 20
Frequent Contributor

Re: Question about Amex CC

Neither.

 

Usually your account open date on Amex end for CLI purposes is a day after your approval. This is when your account is fully set up and reflecting in their system under your SSN.

 

With that being said they might offer your account number instantly upon approval or even report ot the bureaus that it was opened on the application day but this has been my experience.

 

Thanks,





Message 13 of 20
Community Leader
Mega Contributor

Re: Question about Amex CC

Approval day 

Message 14 of 20
Community Leader
Super Contributor

Re: Question about Amex CC


@Remedios wrote:

Approval day 


+1 You can even set up your online account right after being approved so there's no system waiting needed. The limit you see on there may be a temporary one til you receive and activate your new card though.

Message 15 of 20
Super Contributor

Re: Question about Amex CC

OP what is your list of current cards? When did you get each?

Unless your profile has a lot of credit history you are likely to get an initial CL of $1,000 or $2,000 from AMEX. This gets you a chance to show them your payment ability. Over time, SP CLI do become available so if you want to grow a CL, AMEX is the place to do that. No other CCC allows so much control over the CLI, with only SP, as AMEX.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 16 of 20
Community Leader
Senior Contributor

Re: Question about Amex CC


@simplynoir wrote:

@Remedios wrote:

Approval day 


+1 You can even set up your online account right after being approved so there's no system waiting needed. The limit you see on there may be a temporary one til you receive and activate your new card though.


You should make it a point to set this up right away. Then add your payment account. There are some payment restrictions during the first 30 days after your new payment account is added. Getting it set up and ready right away will cause the restrictions to be lifted well before your first due date.

Message 17 of 20
Regular Contributor

Re: Question about Amex CC

Hi NRB, thanks for asking

I have 4 Cc & 1 Auto loan...average 5 inquiries all 3 bureaus
Citi Card 11k opened Dec 2015 every six months requested credit increase started with 4k
Citi card 4,500 opened Mar 2017 every six months requested credit increase started with 1,500
Chase freedom 5k opened in 2017
Chase saphire preffered 12k opened in Jan 2018
Auto loan on time payement so far

Last app was in Jan 2018 11 months ago and looking forward to get couple of new credit cards. I will BE spending about 40k / 50K in January / February so I am trying to figure out what cards to apply for that would give better SL. Pre q's gave venture and QS with cap one, Amex BCE, Green card, Cash magnet and Everyday on amex website. Citi Simplycity and Aadvantage platinum select world elite mastercard... I am looking for 0% intro. I will pay off the balance within the next 4 to 6 months. Here is my stats.

Credit score 760

No negative information


My credit report looks nice

After doing all the research I am thinking of first becoming a member for PenFed, app for Platinum Sig visa & PLOC (not eligible for NFCU). app Amex 2 for 1 and then maybe if needed cap venture (hate to see 3 inquires though by cap)...

Question is what cards to apply for and in what order. I will apply by the end of this month as I have some balances to clear by that time and i will update the outcome.

Thanks


Message 18 of 20
Super Contributor

Re: Question about Amex CC

Your file looks good for regular spend.

It seems to me like it will be a challenge to ramp up any lenders to the range of $40k-$50k spend, to take place in the window 60 days -120 days from now.

Given current limits, I think you may see a $2k starting limit on AMEX. That could be increased to $6k but still not going to cover you.

Even trying to use an AMEX charge card such as Gold may raise concerns if you are running charges through and paying often. It may not be an issue at all, but there have been reports of too much spend too soon raising concerns.

Are these business expenses? Are you paying them as they occur or intending to carry the amount with minimal payments until it all gets paid off in a lump?
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 19 of 20
Regular Contributor

Re: Question about Amex CC

Some for personal use and mostly for business.
Thought of doing spree which I never did before. I don't app for Cc's much, last application was like 11 months old 😫 what do you think which cards are the big cards that I maybe eligible for?

Thank you
Message 20 of 20
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