Re: What is the best AMEX revolver to app for?

hopingsoon · ‎03-09-2014

Friend is looking to rebuild, lived on cash for years but all but 1 of the baddies recently aged off.

Scores are TU 704 (one 120 late left from 5/2007 but believe it is an error so that may be gone before app), EX 743, EQ 778. Has a good long history with AMEX so I reccomended he go back to them to get back in the credit game. He is interested in a revolver not a charge.

He's not really interested in rewards at this point. I don't think he plans to use the card much but knows he needs some good open revolving credit. No annual fee would be nice. And a nice large inital CL with a decent rate would be ideal.

Any advice or thoughts?

Starting Score: FAKOs EQ 537 TU 497 EX 517
Current Score 7/11/13: FICOs EQ 650 TU 659 EX 655
Goal Score: 675 Who am I kidding? Goal Score: 750+

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Creditaddict · ‎03-09-2014

@hopingsoon wrote:
Friend is looking to rebuild, lived on cash for years but all but 1 of the baddies recently aged off.

Scores are TU 704 (one 120 late left from 5/2007 but believe it is an error so that may be gone before app), EX 743, EQ 778. Has a good long history with AMEX so I reccomended he go back to them to get back in the credit game. He is interested in a revolver not a charge.

He's not really interested in rewards at this point. I don't think he plans to use the card much but knows he needs some good open revolving credit. No annual fee would be nice. And a nice large inital CL with a decent rate would be ideal.

Any advice or thoughts?

American Express Blue Cash Everyday,

yudeology101 · ‎03-09-2014

@Creditaddict wrote:
@hopingsoon wrote:
Friend is looking to rebuild, lived on cash for years but all but 1 of the baddies recently aged off.

Scores are TU 704 (one 120 late left from 5/2007 but believe it is an error so that may be gone before app), EX 743, EQ 778. Has a good long history with AMEX so I reccomended he go back to them to get back in the credit game. He is interested in a revolver not a charge.

He's not really interested in rewards at this point. I don't think he plans to use the card much but knows he needs some good open revolving credit. No annual fee would be nice. And a nice large inital CL with a decent rate would be ideal.

Any advice or thoughts?
American Express Blue Cash Everyday,

+1

or BCP if you're going to utilize the card solely on groceries...6% cashback, but it has an AF of $75 though. BCE has no AF.

::edited for typo::

JPM Ritz Carlton $8k I UMP Club $8k I CSP $8k | Chase Hyatt $5k I AMEX Green NPSL I AMEX Delta $2k I Citi AA $2k | C1 QS $4.5k
BOA UNC-CH Alumni $6k I Hawaiian WEMC $3k I Arrival $6.5k I IT $1.5k | Merrill+ $2k | Lowes $12k | Apple $2k | +23more
Scores: EQ:671 (FICO ↑ 11) EX:686 (FICO ↔ N/C) TU:686 (FICO ↑ N/C) *8-5-14*

Overall UTIL: 14% *Gardening Since: 1/20/16*
------------------------------------------------------------
Need to stay out of trouble.... Go Heels!!! ... GC Watchlist ( #1 since 12-12-13)

Anonymous · ‎03-09-2014

@yudeology101 wrote:
@Creditaddict wrote:
@hopingsoon wrote:
Friend is looking to rebuild, lived on cash for years but all but 1 of the baddies recently aged off.

Scores are TU 704 (one 120 late left from 5/2007 but believe it is an error so that may be gone before app), EX 743, EQ 778. Has a good long history with AMEX so I reccomended he go back to them to get back in the credit game. He is interested in a revolver not a charge.

He's not really interested in rewards at this point. I don't think he plans to use the card much but knows he needs some good open revolving credit. No annual fee would be nice. And a nice large inital CL with a decent rate would be ideal.

Any advice or thoughts?
American Express Blue Cash Everyday,
+1

or BCP if you're going to utilize the card solely on groceries...6% cashback, but it has an AF of $75 though. BCE has no AF.

::edited for typo::

If he doesn't plan to use it, and a no AF is desired, then it doesn't really matter between Blue Cash Everyday, Blue Sky, Blue Cash. While I hate BCE (compared to the Sallie Mae card) of those three, BCE is the one that could give a small amount of benefit from very occassional use. There is the new card launching April 2, but that will need 20 uses a month to make it worthwhile and gives MR points rather than cash back.

Anonymous · ‎03-09-2014

OP, you sure this app is for your "friend" and indeed not for yourself?..

abundancejones · ‎03-09-2014

@Anonymous wrote:
OP, you sure this app is for your "friend" and indeed not for yourself?..

Does it really matter?

red259 · ‎03-09-2014

@abundancejones wrote:
@Anonymous wrote:
OP, you sure this app is for your "friend" and indeed not for yourself?..
Does it really matter?

Nope.

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019

twist7d7 · ‎03-09-2014

What about waiting for the new amex to come out? looks to be a great card.

AMEX PRG (NPSL) Lowes (10k) CSP (7.2k) AMEX BCE (6k) Cap1 QS (3.5k) Citi DC (2.6K) BofA (2.5K)M&T Bank visa (2k) Discover iT (1800) Slate (1k)
Age: 22 Scores ~710 across the board
Future Cards Sallie Mae, US Bank Cash+, Freedom
Goal increase CLs by 20k in 2015

Anonymous · ‎03-09-2014

@abundancejones wrote:
@Anonymous wrote:
OP, you sure this app is for your "friend" and indeed not for yourself?..
Does it really matter?

Yup.

red259 · ‎03-09-2014

@twist7d7 wrote:
What about waiting for the new amex to come out? looks to be a great card.

Op already stated that they are not interested in rewards and I think the new cards are rewards based not cash back?

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019

What is the best AMEX revolver to app for?

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What is the best AMEX revolver to app for?