What if I could get a better credit card?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Meltdownblitz
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What if I could get a better credit card?

Postby Meltdownblitz » Tue Jun 07, 2011 1:44 am

Hi all, I'm new to AMex. I just recently applied for the zync card and got approved, but I feel like I might possibly have even gotten accepted for a blue card or gold Amex? I know I shouldnt get to cocky and want a better credit card, but I really wanted a gold
But I wasn't sure if I would even get accepted for a zync so I went ahead and applied and got accepted and now I wonder if I would have got the gold one?

Let mention im 21 and I have a credit score of 673.

My brother just applied for the gold and got accepted and he is 19 and has a credit score of 729 which is a bit different, but I'm shocked that he has such a short credit history and got accepted for a better credit card than I did.

What do you think are my best options for becoming a gold card member? Do you think I can call them and see what they say about it, or should I wait and establish as a customer with them then apply? Thanks a lot!


luvbullmarkets
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Postby luvbullmarkets » Tue Jun 07, 2011 9:44 pm

First of all you need to realize the AMEX Zync/Green/Gold/Platinum cards are charge cards. These are not credit cards and require the cardholder pay off balance in full each month. Since you pay in full each month charge cards are generally easier to get than pay over time credit cards.

Second, does the Gold card really benefit you? If you're not a frequent traveler the annual fee of $125 might not be worthwhile. Take a look at the AMEX Blue and AMEX Blue Cash cards.
Amex EveryDay, Amex BCE , Barclaycard Arrival+ WEMC, CSP Visa Signature, Discover it, Wells Fargo Propel 365 Amex

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jeffysdad
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Postby jeffysdad » Wed Jun 08, 2011 2:41 pm

If you opt for a rewards card with no annual fee -- there are many -- and take the $125/year you would have spent on Amex gold and add it to your retirement savings account -- which you should have -- after 30 years that portion of your savings -- the amount that accrued from the $125/year -- would be worth more than $12,000 if you made a nominal rate of return of 7% per year -- which should be relatively easy. You would also have whatever rewards you would have earned from the card.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

NYC_Dweller
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Postby NYC_Dweller » Wed Jun 08, 2011 10:48 pm

Meltdownblitz wrote:Hi all, I'm new to AMex. I just recently applied for the zync card and got approved, but I feel like I might possibly have even gotten accepted for a blue card or gold Amex? I know I shouldnt get to cocky and want a better credit card, but I really wanted a gold
But I wasn't sure if I would even get accepted for a zync so I went ahead and applied and got accepted and now I wonder if I would have got the gold one?

Let mention im 21 and I have a credit score of 673.

My brother just applied for the gold and got accepted and he is 19 and has a credit score of 729 which is a bit different, but I'm shocked that he has such a short credit history and got accepted for a better credit card than I did.

What do you think are my best options for becoming a gold card member? Do you think I can call them and see what they say about it, or should I wait and establish as a customer with them then apply? Thanks a lot!


Being that you already got approved for the Zync and assuming you really want the Gold your options are:

- Upgrade after 13 months
- Reapply for the Gold which means another hard pull on your credit

As mentioned, do you really need the Gold? (meaning utilizing its benefits and making the $125.00 a bargain) If you want the Gold just for the sake of having it and your travel is limited than you should really look at other options.

Meltdownblitz
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Postby Meltdownblitz » Thu Jun 09, 2011 1:02 am

NYC_Dweller wrote:Being that you already got approved for the Zync and assuming you really want the Gold your options are:

- Upgrade after 13 months
- Reapply for the Gold which means another hard pull on your credit

As mentioned, do you really need the Gold? (meaning utilizing its benefits and making the $125.00 a bargain) If you want the Gold just for the sake of having it and your travel is limited than you should really look at other options.


Of course me not being patient I applied which another hard pull was done and I was denied. Can I upgrade after my credit score goes up I that happens before the 13 month period? What credit score do you think I'll need to get accepted? Do they do soft pulls for that? And also what are my other options?

NYC_Dweller
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Postby NYC_Dweller » Thu Jun 09, 2011 11:16 am

Meltdownblitz wrote:Of course me not being patient I applied which another hard pull was done and I was denied. Can I upgrade after my credit score goes up I that happens before the 13 month period? What credit score do you think I'll need to get accepted? Do they do soft pulls for that? And also what are my other options?


you may have shot yourself in the foot by not being patient. chances of you being approved for an upgrade to a green or gold would have been a lot higher if you built a solid 13 month history with amex.

i have heard many people having a hard time getting gold once they been previously denied. however you have the zync card and with proper utilization and a strong credit score i'm sure amex will see you as a trustworthy candidate.

as for an ideal credit score - this is hard to determine since i seen people get approval with a lower score while higher scores have been denied. i'm sure amex takes in a few factors as well since they work on their own rating/approval system. i'm sure someone else on this forum can elaborate.

Meltdownblitz
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Postby Meltdownblitz » Sat Jun 11, 2011 1:27 am

What kind of credit score, etc. do you think I'll need to get an amex blue cash/preferred?

NYC_Dweller
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Postby NYC_Dweller » Sat Jun 11, 2011 8:12 pm

from what i heard amex charge cards are easier to get than their credit cards. since you were declined for the gold chances are you will be denied for the blue as well.

MrAwesome
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Postby MrAwesome » Sun Jun 12, 2011 11:08 pm

My experience has been that AMEX hates lots of pulls on credit. I tried applying for the Jet Blue Amex (since JB is my favorite cheap airline) and got denied because I had just been issued my discover card.

However, once you establish a good relationship with them, you're pretty well in for whatever you want. I got my personal green card, and spent 2 months running up business expenses and paying them off with no problem. Immediately after those 2 months they sent me an invitation to Gold (which I declined)... Then I went to go check my company PO box and they sent my company (I don't know if it's coincidence or not) an invite for Business Platinum. (which I accepted).

The business platinum is not cheap but I'll make it back easy with the 5% FedEx discount and some of the travel features are pretty useful and I've already used them.

Bottom line: patience is a virtue when it comes to AMEX.



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