Green, Gold, Platinum, or other?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
14 posts
Yzr23
Green Member
Green Member
 
Posts: 5
Joined: Thu Sep 24, 2015 3:18 pm

Green, Gold, Platinum, or other?

Postby Yzr23 » Thu Sep 24, 2015 4:03 pm

Your comment is awaiting moderation.
I am an authorized user for my current company, as I was on my previous firm’s Amex corporate card as well. I can apparently connect my corporate card with my personal card and accrue points if I were to get an Amex. This scenario is the reason for my post and interest in becoming an Amex member. I do travel quite a bit and with the points from linking the cards the Platinum's fee is not a deterrent, however not meeting Amex's criteria due to more stringent requirements is.

I would love your thoughts and input regarding the card I should apply for, or if I should hold off for a bit and continue to build.

FICO: 665
Average length of credit: 7.5 years
Salary: $110,000 base
Two delinquencies In two years. One appears as a medical bill(paid last month/dispute with insurance). The other was Credit One Bank deciding to start charging their annual fee in monthly increments which I was unaware of and missed an eight dollar payment. I cancelled the card out of spite which seemingly wasn’t the best idea.
Three hard pulls on my report at the moment.

Current Cards ranging from zero to ten percent utilization:
Cap One Quicksilver One w/ $2000 limit
Credit Union Card w/ $2000 limit
Cap One Secured w/ $1200 limit
Auto Loan: $9000 left on $15000 in just over a year.

What Amex card, if any, would give me a high probability of approval given the information above?


ingramjuan
Centurion Member
Centurion Member
 
Posts: 266
Joined: Thu Nov 20, 2014 5:32 pm
Location: EARTH

Re: Green, Gold, Platinum, or other?

Postby ingramjuan » Thu Sep 24, 2015 7:50 pm

Speaking from experience, but each credit profile is different. In looking at your profile that it written in this thread I would let two of the inquires fall off and the delinquency get another year older. But that's me and I like to play it safe and not waste a HP on a card that possible I maybe denied and or starting off with a small CL. I've seen where people get approved with a 650 credit score for the green card.

If you want to go for a card now, possible go for the green. Almost the same card without the larger AF.

Possible update on the outcome.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes

Vermonster
Centurion Member
Centurion Member
 
Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Green, Gold, Platinum, or other?

Postby Vermonster » Thu Sep 24, 2015 8:39 pm

Yeah I would wait. Green, gold, PRG, and plat all have the same criteria so apply for the one you really want.

But you're a little shy of that criteria. I would wait until your scores are 690, minimum, over 700 would be best. Let those baddies age a bit more and you'll be good.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

Yzr23
Green Member
Green Member
 
Posts: 5
Joined: Thu Sep 24, 2015 3:18 pm

Re: Green, Gold, Platinum, or other?

Postby Yzr23 » Fri Sep 25, 2015 7:25 pm

Thank you for your input. I suppose I will just wait a bit and ensure that I am approved. I will likely go for platinum if all approval requirements are essentially the same. Thank you again.

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Green, Gold, Platinum, or other?

Postby takeshi » Mon Sep 28, 2015 11:26 am

Carefully consider the cards and how they suit you. Don't just assume Platinum>PRG>Green. Don't select a card based only on perceived approval odds.

If you want to accrue points then you should look at the earn rates on the cards you're considering. The Platinum is a poor choice for earning MR points.

You should also consider whether or not you can really redeem MR points to make the most value out of them. If not, it may not be worth dealing with MR.

Yzr23 wrote:Two delinquencies In two years.

See what you can do to address these before you apply for anything. Derogs tend to have a significant impact and hold one's scores down. DO whatever it takes to avoid derogs in future. Use autopay if it would be of benefit to you. Make sure you're actively monitoring your accounts. An unexpected charge should not go unnoticed and cause a 30+ day late if you're properly monitoring your accounts.

Yzr23 wrote:I cancelled the card out of spite which seemingly wasn’t the best idea.

Think things through and react rationally instead of emotionally. Closing it probably didn't help your situation.

Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Re: Green, Gold, Platinum, or other?

Postby Elijahmex » Tue Sep 29, 2015 5:09 pm

takeshi wrote:Carefully consider the cards and how they suit you. Don't just assume Platinum>PRG>Green. Don't select a card based only on perceived approval odds.

If you want to accrue points then you should look at the earn rates on the cards you're considering. The Platinum is a poor choice for earning MR points.

You should also consider whether or not you can really redeem MR points to make the most value out of them. If not, it may not be worth dealing with MR.

Yzr23 wrote:Two delinquencies In two years.

See what you can do to address these before you apply for anything. Derogs tend to have a significant impact and hold one's scores down. DO whatever it takes to avoid derogs in future. Use autopay if it would be of benefit to you. Make sure you're actively monitoring your accounts. An unexpected charge should not go unnoticed and cause a 30+ day late if you're properly monitoring your accounts.

Yzr23 wrote:I cancelled the card out of spite which seemingly wasn’t the best idea.

Think things through and react rationally instead of emotionally. Closing it probably didn't help your situation.



That is very true.

I had a derog on my CR and got denied by AMEX because of it. I called TU and asked for an investigation. 7 days later I received a letter in the mail letting me know if was deleted off my report :lift:
Unfortunately its still on Experian and Equifax so I opened investigations with them too. Hopefully this derog will be gone for good!!
Image

DogDadNY518
Green Member
Green Member
 
Posts: 20
Joined: Mon Mar 28, 2016 7:40 pm

Re: Green, Gold, Platinum, or other?

Postby DogDadNY518 » Tue Mar 29, 2016 7:53 am

takeshi wrote:Carefully consider the cards and how they suit you. Don't just assume Platinum>PRG>Green. Don't select a card based only on perceived approval odds.

If you want to accrue points then you should look at the earn rates on the cards you're considering. The Platinum is a poor choice for earning MR points.

You should also consider whether or not you can really redeem MR points to make the most value out of them. If not, it may not be worth dealing with MR.


I have a question. I am wondering if it ever makes sense to carry BOTH the PRG and Platinum?
I travel extensively for work. I would LOVE the travel benefits of the Plat - but I like the idea of using my expense account to gain MR points to use for my own personal use.

I have been approved for the PRG and its in UPS en route to me for delivery today.

Would anyone - or does anyone - carry both in order to get the MR from the PRG and the travel benefits from the Plat? I was thinking I would use the PRG until I get the sign up bonus, and then app for the Plat, and get that sign up bonus, and then I would basically just keep the Plat and really not use it much (probably just to get the $200 airline rebate per year) - but use the PRG for my regular spend to maximize MR points.

Anyone else do that?

User avatar
Vattené
Centurion Member
Centurion Member
 
Posts: 1157
Joined: Sun Jan 26, 2014 3:55 am
Location: US

Re: Green, Gold, Platinum, or other?

Postby Vattené » Tue Mar 29, 2016 2:58 pm

I don't have any charge cards myself, but that doesn't really matter. Would it be worth it to you to pay $645 in annual fees? Amex would be all too happy to let you carry two charge cards I'm sure. I think a PRG and a Platinum would be excessive for most people, but if makes sense for you that's all that really matters. The real question is will you spend enough on airfare, restaurants, gas stations, and supermarkets that the marginal increase in rewards (so, 2X, 1X, 1X, and 1X, respectively) you'd get from the PRG vs. the Platinum would be enough to justify paying an extra $195 after the first year?
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3756
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Green, Gold, Platinum, or other?

Postby CarefulBuilder14 » Tue Mar 29, 2016 3:36 pm

If you travel a lot, then it's not hard to justify both an "earning" card (like PRG) and a "perks" card (like Platinum). Figure out what value you expect to get from MRs, as well as the additional MRs you'd earn over the course of a year. You might also consider opportunities for statement credits (airfare extras, Amex Offers, other promotions) and weigh all that against the AFs.

You don't mention which loyalty programs you're in, or what your spending will look like, so I can't really comment on alternatives to Amex charge cards. If you stay at Hyatt properties, for example, the Hyatt Visa could be good. If you rent cars a lot, you might look at CSP for its insurance perks.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

DogDadNY518
Green Member
Green Member
 
Posts: 20
Joined: Mon Mar 28, 2016 7:40 pm

Re: Green, Gold, Platinum, or other?

Postby DogDadNY518 » Tue Mar 29, 2016 7:51 pm

So I travel a lot. Basically I am on on the road for work anywhere from 5 to 15/20 days a month. With the average month being 10-12 days on the road. That means usually 2 or 3 round trips on average per month. I am a member of Southwest Rapid Rewards and try my best to fly them exclusively. To the point that I don't even enter or track a rewards program from AA, United or Delta. I also exclusively travel inside the continental US.

I am a HHonors Diamond level member. I virtually stay at Hilton properties 100% of the time.

I rent a car every single time I take a trip. So again, 2 or 3 rentals per month on average.

Because of the amount I am on the road, I also spend a lot in restaurants. Even when I am home, my wife and I eat out more than we eat at home.

So what I am looking forward to with the PRG is the MRs accruing for my wife and I to use to pay for hotel and travel for our own personal getaways. As is, with my Southwest loyalty and Hilton loyalty, we get a lot of free nights and free flights as is. So I am assuming that we will get even more now that I am earning MRs with my PRG. To me the AF for the PRG is a no brainer. The $100 rebate to in flight purchases will be a breeze for me.

For me, adding the Plat means the free Boingo Wi-Fi, lounge access, and the additional $200 in in-flight credit. The rest of the benefits are either already given to me with the PRG or something that doesn't matter to me (entertainment tickets and concerts as such).

So I guess I just answered it for myself, Are those three things worth $450 per year? Thing is, since I've never used lounges ever, its hard to know. I guess I could sign up, get the MRs and use it for a year, and close it after a year if its not worth it. At least I got the bonus MRs right?
Image



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 0 guests