Should I bother Applying for an Amex Green Card?

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popamode72
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Postby popamode72 » Fri Aug 29, 2014 5:57 pm

nismoZtuner wrote:I see you have a discover card, hopefully you're taking advantage of the 5% quarter bonus for gas that is going on at the moment..


Yup and it's been great, especially for a student card.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)


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nismoZtuner
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Postby nismoZtuner » Fri Aug 29, 2014 5:59 pm

I don't think signature cards report credit limits on credit reports. I read something about them a while back here but forgot :/
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 6:32 pm

popamode72 wrote:I'll look into that. The 2x points on gas stations is something that I'd be most interested in (that alone would probably make it even more of my go to card for getting gas, then I wouldn't be that concerned about the AF cause I'd have a bigger reason to use it regularly) when it comes to that card but I don't wanna scare Amex right now.


How much value do you get out of MR points? You'd have to buy a lot of gas to offset the $175 AF if you plan to keep the card longer-term. It might make more sense to just upgrade the ED to an EDP and close some other cards to hit the 30-swipe target. There are many good gas cards, and several from Amex. What about a Costco membership for $55 and 3% cash back on gas - including Costco gas?

Or a Sallie Mae? It would be hard to consistently have PRG (2 MR points less $175 AF) beat Sallie Mae (5% cash back with no AF)? I know there's a cap but $250 can still buy most of the gas you'd need in a month.

As far as the Visa Signature cards, I think it varies a bit but some report your highest balance as your credit limit. I'm not sure if that means your highest mid-cycle balance or highest statement balance. Anyway, I'm happy to avoid the possible complication. Who knows, though? Chase and Barclays might 'bump me up' when BCE starts reporting with a limit above $5k. I won't be apping for a bit so I can see how the scores change if they do.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

popamode72
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Postby popamode72 » Fri Aug 29, 2014 6:50 pm

CarefulBuilder14 wrote:How much value do you get out of MR points? You'd have to buy a lot of gas to offset the $175 AF if you plan to keep the card longer-term. It might make more sense to just upgrade the ED to an EDP and close some other cards to hit the 30-swipe target. There are many good gas cards, and several from Amex. What about a Costco membership for $55 and 3% cash back on gas - including Costco gas?

Or a Sallie Mae? It would be hard to consistently have PRG (2 MR points less $175 AF) beat Sallie Mae (5% cash back with no AF)? I know there's a cap but $250 can still buy most of the gas you'd need in a month.

As far as the Visa Signature cards, I think it varies a bit but some report your highest balance as your credit limit. I'm not sure if that means your highest mid-cycle balance or highest statement balance. Anyway, I'm happy to avoid the possible complication. Who knows, though? Chase and Barclays might 'bump me up' when BCE starts reporting with a limit above $5k. I won't be apping for a bit so I can see how the scores change if they do.


That sounds like a great idea. EDP seems like it has a lot of benefits in itself without me having to pay that much a year to take advantage of the swipes. Think I have an idea of what cards I'd close if that were to happen and I think I'd definitely look into transferring as much of my CL from my Delta card and being able to have that closed. Just not sure how long I'd have to wait if I wanted to upgrade to the AF version of the EDP.

I've met the 20 swipe requirement this month for the 20% bonus on my ED card but not sure when those MR points are gonna show up. I never shop at Costco or even have a membership so I think that card would automatically be out as a possibility at the moment.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 6:58 pm

popamode72 wrote:Just not sure how long I'd have to wait if I wanted to upgrade to the AF version of the EDP.


One year from the date ED was opened, unless you want to do a whole new application. I'm not totally sure of the HP/SP rules with Amex, but I'd just convert it to EDP in a year.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

popamode72
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Postby popamode72 » Fri Aug 29, 2014 7:02 pm

CarefulBuilder14 wrote:One year from the date ED was opened, unless you want to do a whole new application. I'm not totally sure of the HP/SP rules with Amex, but I'd just convert it to EDP in a year.


Yeah that sounds about right. Don't wanna have another HP or anything and that's also why I'm waiting to convert my Forward card to that DoubleCash card in like a month or so.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 7:13 pm

popamode72 wrote:Yeah that sounds about right. Don't wanna have another HP or anything and that's also why I'm waiting to convert my Forward card to that DoubleCash card in like a month or so.


When did you apply for the PRG? And the Green? I think the PRG is just as easy to get - it's just a tradeoff of fees and rewards/benefits. The fact that you got declined for the PRG but approved for the Green says more about your credit history developing a bit more than it does about lower credit standards for the Green vs. PRG.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

MB131174
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Postby MB131174 » Fri Aug 29, 2014 7:23 pm

All Visa cards I have are Visa Siggy, and what's reported is the revolving credit limit.
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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 7:30 pm

MB131174 wrote:All Visa cards I have are Visa Siggy, and what's reported is the revolving credit limit.


Which cards in particular? I've never really looked into which issuers reported VS/WMC/WEMC in weird ways. Maybe practices are becoming more normal now. I don't know how common it was before - it could have just been a few cards with funny limits that got a lot of attention.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

MB131174
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Postby MB131174 » Fri Aug 29, 2014 8:13 pm

CarefulBuilder14 wrote:Which cards in particular? I've never really looked into which issuers reported VS/WMC/WEMC in weird ways. Maybe practices are becoming more normal now. I don't know how common it was before - it could have just been a few cards with funny limits that got a lot of attention.


3 from Chase, 1 from BofA, 1 from PNC and 1 from Citi. All show the revolving credit limit on all my reports.
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