secured AMEX

[tboy1977]

I have read on numerous sites that AMEX will give a card with a minimum 10k deposit.  I called AMEX and two reps denied, one tried but couldn't find it, and the other thought I was crazy.  If anybody knows a backdoor number or way to AMEX, please PM me.  Or a backdoor way into a secured USAA AMEX card, PM me.  I want the AMEX.

[pizzadude]

I've only heard of this being available via a counter~offer when you are declined ~ I don't think it is something you can apply for.

Instead of using $10,000 as a deposit, have you considered the AMEX pre~paid card ?

[Cranski]

Yes sorry, I used my crawler and only found 5k in the first 100 hits. Anything else you can specify about it I might be able to find some relative info.

Edit: I am specifically saying current; I see the previous 2010 10k, but it was downgraded by USAA.

[Anonymous]

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@tboy1977 wrote:

I have read on numerous sites that AMEX will give a card with a minimum 10k deposit.  I called AMEX and two reps denied, one tried but couldn't find it, and the other thought I was crazy.  If anybody knows a backdoor number or way to AMEX, please PM me.  Or a backdoor way into a secured USAA AMEX card, PM me.  I want the AMEX.

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You are talking about 2 different banks (and there are others)  that offer cards on AMEX network.    Do you want a card on the AMEX network or do you want a credit card specifically from the American Express Company ?

[rootpooty]

so if you have 10k to put towards an amex card that doesnt exist tell me you still arent paying on a 30% auto loan?  The usaa secured amex doesnt have any ties with amex itself. just like the boa amex

[Anonymous]

Amex was at one time doing secured charge cards, but that only lasted for a brief period in t ime.

[tboy1977]

Root pooty, the loan is going because everyone has told me to keep the tradeline open. So I grin and bear the monthly payments. Otherwise, they would get 1k/two weeks until PIF. I really wanted that paid off before mortgage but financial counselor and car loan officer say no.

On AMEX, ultimately I want a real AMEX. I will take another bankcard branded with AMEX but an Amex blue or Delta Skymiles is what I want. Were it not for mortgage next fall, I'd skip either and just coast and save my money ( and pay that dreadful loan). Because of it I'm trying to stop apping in September

[Anonymous]

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@tboy1977 wrote:
Root pooty, the loan is going because everyone has told me to keep the tradeline open. So I grin and bear the monthly payments. Otherwise, they would get 1k/two weeks until PIF. I really wanted that paid off before mortgage but financial counselor and car loan officer say no.

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That advice sounds bogus to me. Did they explain why?

[Revelate]

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@Anonymous wrote:

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@tboy1977 wrote:
Root pooty, the loan is going because everyone has told me to keep the tradeline open. So I grin and bear the monthly payments. Otherwise, they would get 1k/two weeks until PIF. I really wanted that paid off before mortgage but financial counselor and car loan officer say no.

...

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That advice sounds bogus to me. Did they explain why?

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Heh, +1.  I read that and was thinking"lolwut?"  Only possible thing would be a massive pre-payment penalty I suppose.

30% auto loan, was that a typo?  If no pre-payment penalty if it's been open for more than six months kick that to the curb: it'll almost certainly be a straight positive for mortgage underwriting on your DTI calc.  Or go refinance it off that 30%, I've never heard of a loan that high.  Out of curiosity, where did you get it from?

Other question is when are you planning to pull the trigger on a mortgage?

[webhopper]

I agree with others.... kick that car loan to the curb... get it refinanced or paid down to less than 10 months remaining.

What's your goal date as far as the mortgage application?