AMEX First Timer

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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makwa3
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AMEX First Timer

Postby makwa3 » Wed Feb 15, 2012 8:54 pm

Last week I spent a couple hours explaining the credit world/game to one of my younger brothers. He would like to get a AMEX card and build a thicker portfolio than he has right now. I personally have a AMEX PRG and a Blue Sky and love them both. I told him that he needs to look at the cards and see which has the best benefits for his wife and him. I gave him a suggestion of getting a PRG as the 2x rewards on both gas and groceries have really benefited myself. I do not know though that with no history with AMEX whether or not he would be able to be approved from the PRG right off the bat. Maybe the Zync card would be better to start out with, then in a year or so move toward the PRG? I would like to hear what others think.

Here is some history he does have:

1. A simple financial bank Visa credit card. His credit limit 8-10k - 0 balance (all paid off) - 8 years of excellent history.
2. Chase Freedom Mastercard. Credit Limit 6k - utilizing 92% (had to accumulate a bit recently with having his first child, but planning to pay all of it off within a month) - 2.5 years of good history.

No other loan history. No bad dings. No other inquiries. CR: low 700's. He will be trying to get a car loan in the next 3 months as well as a home loan in the next year or two.
Credit Cards:
Visa - barclaycardUS White, Nordstrom, 1st Financial Bank
AMEX - PR Gold Card, Delta Reserve Business, Blue Sky, Gold Delta


CC Deville
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RE: AMEX First Timer

Postby CC Deville » Wed Feb 15, 2012 9:29 pm

It sounds like he has great credit and with his other two accounts he should not have any trouble qualifying for an AMEX....except for that 92% utl on the Chase Freedom.

I would recommend that he get that down to at least 45% before he tries with AMEX.

makwa3
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Postby makwa3 » Thu Feb 16, 2012 12:39 am

CC Deville wrote:It sounds like he has great credit and with his other two accounts he should not have any trouble qualifying for an AMEX....except for that 92% utl on the Chase Freedom.

I would recommend that he get that down to at least 45% before he tries with AMEX.


Yes I told him that. I'd imagine that he wouldn't apply until April or May with it all down. But I guess my real question is would he be ok applying for the PRG as his first AMEX? Or should he go with the Zync first?
Credit Cards:
Visa - barclaycardUS White, Nordstrom, 1st Financial Bank
AMEX - PR Gold Card, Delta Reserve Business, Blue Sky, Gold Delta

logan|20
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Postby logan|20 » Thu Feb 16, 2012 1:37 am

With that history and the scores, I would pay down the Freedom card and apply for the Zync. Hold on to it for a year or so, and then apply for the PRG. Amex said they do like to have 30 days in between apps, so if approved for Zync, he could always try for the PRG, or simply just garden for a year after getting a Zync.
American Express Zync | NPSL
BofA Cash Rewards | CL: $1K
Barclay Finance Card | CL: $1.7k
Amazon Store Card | CL: $1.5k
Credit Union Visa | CL: $1K
Capital One: Sony PlayStation | CL: $500

amexguy321
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Postby amexguy321 » Thu Feb 16, 2012 8:23 am

have him go for the PRG! im 20.. got the zync and hhonors... with his history and after getting down that chase freedom, there is no reason why he shouldnt be approved for gold!

hjamespyun
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Location: New York, USA

Postby hjamespyun » Thu Feb 16, 2012 10:59 am

makwa3,

As long as your brother pays down the balance on his Freedom card, he should more than easily get the AMEX PR Gold; if anything, that may be the reason his credit score is lower than it should be.

Having said that, just make sure he knows when [and yes, if] to apply for the PR Gold in light of his needing a car loan AND home loan.
Cards In Use
Chase Sapphire Visa Signature (Downgraded from Sapphire Preferred)
American Express Platinum (Upgraded from Premier Rewards Gold)
Citi ThankYou Preferred World Elite MasterCard

Pipe Doctor
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Postby Pipe Doctor » Thu Feb 16, 2012 3:15 pm

Applied for my first Amex card on Sunday - was approved for the JetBlue card on Tuesday after phone verification. Last night clicked on the PRG card offer here and was just approved over the phone for that card too! AMAZING!!!
Amex PRG - Everyday card:)
Amex Platinum
Amex Jet Blue 10k - For those purchases when you can't PIF
Barclays Rewards 4.5k - Just to have a lower debt ratio
NFCU Signature 15k - Just to have a lower debt ratio
USAA World MC 12k - Ditto



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