Approved for TrueEarnings, try for an Amex charge card?

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Approved for TrueEarnings, try for an Amex charge card?

Postby ninth » Thu May 19, 2011 7:58 am


I just wanted to know your opinion about this little situation:
I was approved for the TE card a week ago, that I didn't intend to apply but ended up with when I renewed my membership with costco. I thought of re-building my relationship with amex when my account with them was cancelled 8 yrs ago due to my ignorance as an undergrad student.

I've been planning and thinking of applying with one of the charge cards after learning all my lessons and improved my credit. However, since I was recently approved with the TE card, what will be my chances of getting approved with a charge card?

Should I apply or is there such thing as the basic charge card that I should start with and work my way up to the higher end charge card? I particularly would like to apply for the gold /gold rewards mainly to redeem air points, since I go on random getaways for pleasure (platinum would be nice too, too ambitious, aren't I? lol). I am fortunate to have an income and so I don't mind the annual fees too.

Lastly, how long should I wait to apply for another amex card?
If I knew that one can apply with 1 or more card within a 1-2 days period I would have done it so that way the inquiries wouldn't hurt my score(as I have read in some other posts)

comments? suggestions?
TIA sooo much! :D

at the moment:
opening the TE card (is my only recent inquiry) $2500 limit, still waiting for to the card

a platinum hsbc mc, $0 balance, $2500 limit

macys, $0 balance, who knows the limit now,(I called and they said they couldn't disclosed the information) but last time I checked $1500 (haven't used
it for more than a year)

2 car auto loans

no mortgage, i do rent

my debit mc that i use 24/7

and student loans that are deferred since I'm back at school

and any balances, revolving account are paid in full and on time

my credit scores are mainly in the lows 700s

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Postby milkthatcard » Thu May 19, 2011 6:04 pm

The low 700s from what I have seen on this forum is cutting it close for American Express but supposedly their charge cards are easier to get approved for than their credit cards. If you were approved for the TrueEarnings credit then I don't see why you wouldn't be approved for a charge, too.

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Postby Mogul of Pineapples » Sat May 28, 2011 4:14 pm

Agree with above reply. It is cutting it close but you might qualify. If you just opened up a TrueEarnings I would build 6 months solid history on it with AmEx before applying for Gold and Premier Rewards Gold.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
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Postby Money card » Sun Jul 10, 2011 9:24 pm

This is a horrible idea. My Dad has the Aqua costco/ American express card, I did some looking into this card. it has a horrible cancellation policy. If I were you I would get a premium card that appeals to you and your family.
I'M NOT a COSTCO member but even if I was I wouldn't get this piece of garbage.
when I buy gift cards for my family I use my Green premium card. IF i was a costco member I would use the same card.

The basic card which you asked about would be the Green and Zync those would be a million times better decision over the aqua costco/american express garbage card.

Depending upon your decision and if you get approved, let's say you try for the green and you get it, use it for a year call them up to ask for an upgrade. Now if you get denied for the Green I would wait 6 months to apply again.

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Postby Smerri » Mon Jul 11, 2011 8:05 am

If you have the Costco TE card, I would apply for a Gold/Gold PR Card. You should be fine.

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