AMEX PLATINUM !

[RicHowe]

Remember. AMEX Platinum has a $550 annual fee, billed in the first statement. The perks are great - it's my daily driver card. Also use it for travel and transfer points to my airline/hotel partners.

If you are pre-qualified for Green or PRG and your score is good. You are in like flynn. What is your Experian Fico8?

[Anonymous]

---

@RicHowe wrote:

What is your Experian Fico?

---

My EXP is my lowest 670

[Anonymous]

---

@Anonymous wrote:

---

@RicHowe wrote:

What is your Experian Fico?

---

My EXP is my lowest 670

---

That's on the low end for Amex but they do approve it.  What's holding you back?  Are you reporting balances on any of your credit cards and how much of a balance/credit limit on those cards?

[RicHowe]

---

@Anonymous wrote:

---

@RicHowe wrote:

What is your Experian Fico?

---

My EXP is my lowest 670

---

The average applicant has a score of 715. Although, some applicants have been approved with a credit score as low as 643. If you've been pre-qualified for Green card, the underwriting for the Platinum is virtually the same.

Do you have a bunch of recent inquiries?

AMEX is not averse to young credit (thin file) so there should be no issues there.

[Anonymous]

---

@Anonymous wrote:

What's holding you back?  Are you reporting balances on any of your credit cards and how much of a balance/credit limit on those cards?

---

My credit was REALLLLLLY crappy about a year ago, I defaulted on a capital one card when I was 18 ..

so as of recent i started desperately rebuilding my credit by paying the piper, getting credit card to increase my credit line and number of open accounts.

I have 8 credit cards. (including my new AMEX GREEN i literally just got YAY !)

A couple of them are going very soon tho!!

I have secure credit card from Bank Of america $0 balance.. probably used it twice 1 year

I have 5 extremly crappy cards Credit One, another Credit one, Merrick Bank, Premier *vomit*, Indigo *vomits more* (all $0 balance)

then i have My DIscover It card $1000 balance (transffered from a Credit on card) and i have a Fidelity Visa Signature  (few hundred balance .. getting paid off next month)

The credit one is my oldest account so I'm sorta scared about closing it.. in a few months I want to close some of the above cards, definitely the really **bleep** ones but maybe not the oldest Credit One.

Needles to say I've been paying to increase my credit for quite some time,  so an AF on the AMEX Green Card of 95$ in year 2, provided I don't upgrade it (or close it) isn't a big deal to me.

[RicHowe]

I would NOT product change from Green to the AMEX Platinum, as you will not get the sign-up bonus. Do I understand that you went ahead and app'd for the Green card and was approved? If so, congratulations! You would have qualified for the Platinum, but the hefty $550 fee is certainly a factor.

At least you know you can get the Platinum any time you want in the future (when the fee  makes sense).

Use your Green card and PIF every month.

[Anonymous]

---

@RicHowe wrote:

I would NOT product change from Green to the AMEX Platinum, as you will not get the sign-up bonus. Do I understand that you went ahead and app'd for the Green card and was approved? If so, congratulations! You would have qualified for the Platinum, but the hefty $550 fee is certainly a factor.

---

Wait .. WUUUUT!? I would've gotten approved for the platinum??  :'( 

SHOOT wish I knew that!

The fee does make sense for me and my girl.

I was hoping they would target me with the 100k offer after a few months of AMEX Green Card.

If I upgrade the AMEX Green it would be to PGR then PLAT (of course, ONLY after I get the Platinum by itself)

[RicHowe]

No worries! 

You are in the AMEX clubhouse now! Congratulations!

App for the Platinum in June/July if all things stay the same financially.

[Anonymous]

---

@RicHowe wrote:

You are in the AMEX clubhouse now! Congratulations!

---

THANKS BUD! I appreciate all the positive thought and the good tips.

[pipeguy]

---

@Kree wrote:

I personally support the "gotta catch them all" idea to collecting credit cards.  They say 5 cards is the minimum ideal for top scores (although you can get 850 with 3 cards I think).   So why not a visa a mc a discover and a amex to get things started?

Follow your dreams. Get an AMEX.

---

IMO $550 a year (year after year) for a "Platinum" where you can't recover at least that amount in real benefits (so-called prestige is NOT a benefit) is a foolish move. If you are just in the mood for an AmEx there are no AF cards and "AmEx Network" logo'd cards that fit that picture.