- Centurion Member
- Posts: 4913
- Joined: Sun May 20, 2012 4:35 pm
- Location: WI
I'm going to post my recent experience here in the hopes it may be useful to others.
I recently in the last month got two Amex charge cards - Zync and Gold, which were backdated.
In hindsight, I'd say two in the same month (as well as Discover and a Visa Signature neither of which has reported yet) is a bit extreme. As I've gotten new cards I've closed old ones. I'm not looking to run up a bunch of debt and walk away but these guys don't know that.
Then I really decided to push my luck. I was going to wait 6 months to a year and apply for the Blue Cash Preferred. But I went for it because I'd been on a roll. I got it, but the credit limit wasn't anything to write home about, and I did notice that they gave me their highest APR, 22.24%. That told me they consider me a risk. It's quite an ironic feeling to see your Experian FICO of 788 and then see the highest APR and the reasons why you got it (new accounts, inquiries, length of revolving account age, etc etc etc etc etc) on the same page.
What I would say is, I made a mistake in going for the Blue early. Or even two charge cards from Amex. I should have gotten one, and waited. Say at LEAST 6 months, maybe a year. With my luck the new accounts will trigger FR anyway.
But you know, I can live with that. If they decide to shut me down, I'll just use my new Discover more (hahaha bad pun there) and my Visa sig and go on with life. I really like Amex, and I hope I remain a customer, but I think I just tried to do too much too soon and in retrospect I wish I hadn't.
I just am posting this in hopes that anyone who is thinking of doing the same, will think twice, and follow a different road. Even if you get what you want it's not always all you thought it was gonna be. Just my 2 cents and words of wisdom for the day! Happy Friday!