Thoughts on PRG?

[Anonymous]

Just got my Amex PRG. Really wanted Amex but didn't think I would qualify for another year or two so I was really shocked to get the offer in the mail. Maybe would prefer BCP but didnt want to apply without a prescreen offer so I jumped on the PRG offer...What do people think of this card? How will it effect my fico? Util?

[jsucool76]

I think it is a great card for anyone, at least for the first year, (waived AF) and after that it definitely isnt a card for everyone, but works for some.

FICO wise, score will most likely drop a little from the inq and drop in AAoA, but the card (being a charge card) will not effect your util when most lenders pull. The only time the balance will effect your score is on old scoring models (98 and before i think). The balance is also visible during manual reviews and may be taken into account then (recons, CLI requests, stuff like that)

[Open123]

If you spend mostly on airlines, reach $30k annual spending and use MR points for premium cabin international travel, its possibly the best card for it's purpose.  If not, then with the annual fee waived and sign up bonus, it's a great value the first year.

[mojobones89]

What Did Ur Credit Profile Look Like?Aaoa,utl%,inqs

[webhopper]

I find that its a very usable card that fits my needs. No preset limit, doesn't count against utilization. I can charge 10k and not blink. I like using amex travel to book travel, their hotel rates and fares are competitve if not lower than other travel sites. If you spend more than 2-3k on airfare I can see where this card is worth the AF, I like that it gives 2x on gas and groceries. Its great for racking up points.

[webhopper]

Also its great because if you dispute a charge, they automatically take your side. I've used this feature twice, and both times I got my money back with no hassle. Once was for a coffee vending machine on a cold day that did not give me my coffee after I paid with my amex. At the time I disputed, it was more about principle than that $0.55. But that is just one reason to carry their card and use it to pay for everything under the sun!

[HiLine]

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@Anonymous wrote:
Just got my Amex PRG. Really wanted Amex but didn't think I would qualify for another year or two so I was really shocked to get the offer in the mail. Maybe would prefer BCP but didnt want to apply without a prescreen offer so I jumped on the PRG offer...What do people think of this card? How will it effect my fico? Util?

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Congratulations on being approved the card! I guess your questions, since they come after the fact, are not going to change anything. As a charge card, it will not affect your utilization for FICO scoring purposes. When the new account first gets reported, you will likely see a score drop. The effect lasts for a few months.

[Repo-ed]

I love my PRG - though it will not stay in the wallet at the end of it's first year.

[CreditScholar]

Given the high AF, the PRG is one of those cards that many people really need to re-evaluate after the first year. Unless you're spending 30k to hit the annual booster, or at least 20k all in the bonus categories, you'd likely be better off with another card. The PRG is not a card for light spenders.

[myjourney]

It's a great card if you put a lot through it