how to get an amex revolving?

[Anonymous]

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@smallfry wrote:

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@Anonymous wrote:

A piggyback question on this:  How many of you wth a revolving Amex card carry a monthy balance (i.e., do not PIF each month?)

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Revolve with AmEx? No. 

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Ditto that. I don't carry a balance on any of my cards, but if I was in a pinch and had to for some reason, I would make sure I picked AmEx as the last of my cards to "revolve" a balance.

While the revolving AmEx cards do allow you to carry a balance, I believe AmEx highly prefers those customers who pay in full every month.

Plus, AmEx revolvers typically have higher APRs on average than other banks.  Any rewards you would get would be totally negated by interest charges.

[Watchmann]

I have an AMEX revolver with a huge CL and rock bottom APR of Prime + 2.5% (currently 5.75%) and even though I've had this card since 1990 I would never, ever use an AMEX card for a revolving balance.  They say you can do it, but they really don't want you to do it.   

[android01]

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@Watchmann wrote:

I have an AMEX revolver with a huge CL and rock bottom APR of Prime + 2.5% (currently 5.75%) and even though I've had this card since 1990 I would never, ever use an AMEX card for a revolving balance.  They say you can do it, but they really don't want you to do it.   

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I'm not sure i understand why AMEX would issue revolving credit cards if they didn't want people to use them as such.  I would think they'd actually encourage revolving use as they'd add to their bottom line charging interest on top of their (higher than most) merchant fees.  In fact, 14 out of the 19 personal use cards they offer are revolving credit cards, and there are ways to pay over time with their charge cards as well.  

[Anonymous]

that's waht im thinking, if they offer the cards then they do want you to use them, I heard the revolving ones are hard to get? and people complaining about the interest rate must of never had a retail store card, mine is 24% on bestbuy, and the american express i want has a highest rate of 19% which is still better than what i have now.

[Anonymous]

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@smallfry wrote:

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@Anonymous wrote:

A piggyback question on this:  How many of you wth a revolving Amex card carry a monthy balance (i.e., do not PIF each month?)

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Revolve with AmEx? No. 

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I carry a small balance on mine.

[Anonymous]

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@android01 wrote:

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@Watchmann wrote:

I have an AMEX revolver with a huge CL and rock bottom APR of Prime + 2.5% (currently 5.75%) and even though I've had this card since 1990 I would never, ever use an AMEX card for a revolving balance.  They say you can do it, but they really don't want you to do it.   

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I'm not sure i understand why AMEX would issue revolving credit cards if they didn't want people to use them as such.  I would think they'd actually encourage revolving use as they'd add to their bottom line charging interest on top of their (higher than most) merchant fees.  In fact, 14 out of the 19 personal use cards they offer are revolving credit cards, and there are ways to pay over time with their charge cards as well.  

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+1

[Anonymous]

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@silver0187 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Payment Flexibility

Freedom to pay over time.

that's revolving right?

and is the blue cash better or the zync card better? and is the zync card revolving, I can't find out of the zync card is or not

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Freedom to pay over time is revolving yes, and the Zync is a Charge Card not relvolving.

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I apologize for derailing the thread. If Zync isn't a revolving credit card, then does using Zync and PIF before statement positively affect one's credit score?

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Since Zync is not a revolving card you must PIF every month you have a balance, if you're 31 days late on the payment it will be listed on your report/s as 30 days late, killing your scores.

Other than that, PIF every month will raise your score/s in the long run as it will show usage and a good payment history. So yes to PIF every month will positively affect your score/s "over time" but, it will not raise your score's in the same way as say.....lowering your util from like 65% down below 9% which would raise your score/s immediately after being reported by your creditors to the CRA's.

Hope that makes sense.

[aamex]

The zync is a charge card and must be paid in full. However, you can select to pay some transactions over time. This account feature for zync is by invitation only.

[Anonymous]

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@Anonymous wrote:

Payment Flexibility

Freedom to pay over time.

that's revolving right?

and is the blue cash better or the zync card better? and is the zync card revolving, I can't find out of the zync card is or not

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Nightfallx....

I've been an AMEX customer for years now, I do ALOT of business with them from a corporate, small business, and personal standpoint.  I have mostly charge cards with them plus a revolver.

I will tell you right now, seeing their good and bad sides, that even though they offer "revolvers," I would highly recommend SPARINGLY carrying over a balance every month.  They offer this feature but don't like people doing it at all, especially if your utilization or debt ratio is very high.  If you carry over large balances and AMEX feels your credit and income isn't good enough, it could easily trigger an audit/Financial Review, or worse, they can CLI decrease or close your accounts without warning.

AMEX is a good company - but don't get on their bad side.  A very easy way to get on their bad side is to carry over debt in levels that they are uncomfortable with.

Carrying over balances on a personal AMEX revolver isn't a horrible thing - just do it "once in a Blue Moon."  If you are intending to get this card so you can get into debt or you feel you MAY get into debt, DO NOT get it - get a general Visa from your credit union, they will be more forgiving.