Advice on whether or not to apply for AMEX

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frinkinhard
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Advice on whether or not to apply for AMEX

Postby frinkinhard » Tue Mar 17, 2015 1:34 pm

So I want to apply for both the Everyday, and PGR on the same day. I have had a Amazon store card for 15 months I started with $1,200, now 2 auto CLI's later i am now at a $3,400 limit with 20% usage currently. I have never missed a payment nor have any blemishes on my credit. Last month I applied for the Discover It student after doing a lot of research on it I wasn't expecting a very big CL. They gave me $1,000 limit and showed my Trans Union Fico on the initial paperwork from the application (2/22/15) and it was 691. Now as of 3/8 They are reporting my Fico score at 698 with my first statement. I already payed my first balance 3 weeks early on it as well. So what do you think I should do?
Amazon Store - $6,000 (1/14)
Discover it Student - $2,000 (2/15)
AMEX Everyday - $4,100 (3/15)
Citi DC - $1,500 (7/15)
Best Buy Visa - $1,000 (9/15)


Jarrodpd
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Postby Jarrodpd » Tue Mar 17, 2015 2:56 pm

frinkinhard wrote:So I want to apply for both the Everyday, and PGR on the same day. I have had a Amazon store card for 15 months I started with $1,200, now 2 auto CLI's later i am now at a $3,400 limit with 20% usage currently. I have never missed a payment nor have any blemishes on my credit. Last month I applied for the Discover It student after doing a lot of research on it I wasn't expecting a very big CL. They gave me $1,000 limit and showed my Trans Union Fico on the initial paperwork from the application (2/22/15) and it was 691. Now as of 3/8 They are reporting my Fico score at 698 with my first statement. I already payed my first balance 3 weeks early on it as well. So what do you think I should do?


First thing you would want to do is make sure your Experian score is at least 680 before making any decisions.
[size=80]USAA Secured Mastercard: $600 @9.9% APR
USAA Platinum Mastercard: $1500 @12.9% APR CLIed to $2500
American Express HHonors no AF: $2900 @17.24% APR CLIed to $8700
American Express Premier Rewards Gold: NPSL
American Express Platinum: NPSL

Exp: 721|Equ: 708|Tu: 729 (5th October 2014)[/size] | Exp: 743|Equ: 734|Tu: 743 (3rd December 2014)

frinkinhard
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Postby frinkinhard » Tue Mar 17, 2015 3:10 pm

Jarrodpd wrote:First thing you would want to do is make sure your Experian score is at least 680 before making any decisions.


I know its not really accurate, but Credit Karma has my Experian at 681.
Amazon Store - $6,000 (1/14)
Discover it Student - $2,000 (2/15)
AMEX Everyday - $4,100 (3/15)
Citi DC - $1,500 (7/15)
Best Buy Visa - $1,000 (9/15)

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Mar 17, 2015 4:47 pm

frinkinhard wrote:I know its not really accurate, but Credit Karma has my Experian at 681.


Try Credit.com for your actual Experian info. CK has only Transunion and Equifax.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

frinkinhard
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Postby frinkinhard » Tue Mar 17, 2015 5:15 pm

CarefulBuilder14 wrote:Try Credit.com for your actual Experian info. CK has only Transunion and Equifax.


Yeah I totally misread CK. So Credit.com says I have a 716 Experian.
Amazon Store - $6,000 (1/14)
Discover it Student - $2,000 (2/15)
AMEX Everyday - $4,100 (3/15)
Citi DC - $1,500 (7/15)
Best Buy Visa - $1,000 (9/15)

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Mar 17, 2015 6:39 pm

frinkinhard wrote:Yeah I totally misread CK. So Credit.com says I have a 716 Experian.


And I assume you mean PRG, not PGR? There may be a PGR card, but I'm not sure what it would be. Did you get a mailed invitation for either for a special bonus offer? I got a 50k MR bonus for the PRG, and I've heard of 25k bonuses for the ED. Sometimes it can be worth it to wait for a great bonus before applying.

Just be sure you really want both cards. I have a PRG and a BCE, and the BCE I rarely use. I suppose the rewards on the ED are better for an MR fan than the BCE.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

frinkinhard
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Postby frinkinhard » Tue Mar 17, 2015 10:55 pm

Doesn't matter Just got approve for both! With a $5,000 on Everyday!
Amazon Store - $6,000 (1/14)
Discover it Student - $2,000 (2/15)
AMEX Everyday - $4,100 (3/15)
Citi DC - $1,500 (7/15)
Best Buy Visa - $1,000 (9/15)

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Mar 17, 2015 11:10 pm

frinkinhard wrote:Doesn't matter Just got approve for both! With a $5,000 on Everyday!


Well, I'm glad you got what you wanted.

What were the signup bonus terms?

Edit: Also, the signup terms really do matter, unless you're spending oodles of money. A good bonus can represent annual fees or rewards on spending for a few years.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

frinkinhard
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Location: Michigan

Postby frinkinhard » Wed Mar 18, 2015 5:23 pm

CarefulBuilder14 wrote:Well, I'm glad you got what you wanted.

What were the signup bonus terms?

Edit: Also, the signup terms really do matter, unless you're spending oodles of money. A good bonus can represent annual fees or rewards on spending for a few years.


For the Everyday I got 10,000 bonus reward points after I spend $1,000 in the first 3 months. As for the PRG I got 25,000 bonus reward points after I spend $2,000 in first 3 months on the card.
Amazon Store - $6,000 (1/14)
Discover it Student - $2,000 (2/15)
AMEX Everyday - $4,100 (3/15)
Citi DC - $1,500 (7/15)
Best Buy Visa - $1,000 (9/15)

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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Mar 18, 2015 9:50 pm

frinkinhard wrote:For the Everyday I got 10,000 bonus reward points after I spend $1,000 in the first 3 months. As for the PRG I got 25,000 bonus reward points after I spend $2,000 in first 3 months on the card.


Depending on how much spending you put on the PRG, you might be able to request a retention bonus (assuming you plan to keep the card past the first year). That could make the ED's higher rewards rates disappear.

Retention bonuses may be trickier to get with the card's upcoming changes, though.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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