- Platinum Member
- Posts: 50
- Joined: Fri Jan 25, 2013 3:10 am
- Location: San Bruno
I recently received an invitation to apply for the Platinum card. I find it interesting that this only came up after my creditworthiness took a hit (I bought a new car recently and of course took out a car loan, and I had a slightly unpleasant experience with Capital One that caused my account to report as 30 days late instead of on time), but I'm sufficiently baited.
The problem is that I'm not too sure whether my profile really fits the person who can afford to pay $450 a year. I probably travel once or twice a year, but even with the $200 bag credit and lack of foreign transaction fees, I don't really feel that the perks are worth the annual fee. (I don't usually book my flights to have wiggle room to use an airline lounge on a stopover, I don't really travel to places where I have to book a hotel, and American Express doesn't cover NEXUS even though they cover Global Entry and TSA PreCheck, which is covered by NEXUS.)
Of course, this is all assuming that I'd actually get approved if I apply. How likely is it that a credit card issuer would send an invite to someone with good odds that, should they apply, would be denied?
Having said all that, I do plan on travelling soon, and this card, if only temporarily, makes for a good travelling companion. According to the folks who are more experienced in applying for credit, given my scenario, is the Platinum worth it?
Current Credit Scores:
Experian - 655 (3-3-13, FICO from lender)
Equifax - 726 (3-21-13, FICO from lender), 677 (6-16-13, FICO ScorePower Report)
TransUnion - 722 (10-10-14, FICO from Discover statement)
Equifax Canada - 810 (6-16-13, FICO ScorePower Report)
TransUnion Canada - 812 (6-16-13, TransRisk Report)
Current Credit Cards:
RBC Rewards Gold Visa - $5500 CAD
Bank of America Cash Rewards - $9500 USD
Capital One PlayStation - $2750 USD
American Express Blue Cash Everyday - $4000 USD
Discover It - $5500 USD