Is an Amex charge or credit card easier to get?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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bmw1990Z
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Postby bmw1990Z » Mon Jun 11, 2012 3:45 pm

I'm no amex expert or insider but from personal experience with just one year of credit history with a college card, I was able to get both the gold and plat versions of the delta skymiles cards. In the future I will probably go for a platinum charge card. I would think the charge cards would be easier since you have to pay the balance in full each month, but on the flip side, Amex usually lends to people with decent to excellent credit ratings...you have nothing to loose by applying...
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013


Money card
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Postby Money card » Mon Jun 11, 2012 8:58 pm

Crashem wrote:Moneycard,

Here is the repeat of the post last time you said charge cards being harder than credit cards to get from AMEX. Some of your facts are incorrect (check capital one's website for example) and while your logic is sound, you are missing the point that there is no interest on charge cards because you aren't allowed to keep a balance. Stop buying into AMEX marketing BS. In any case, here was my previous post:

Money card,

Evidence shows that Amex charge cards have lower credit standards than their credit cards. In fact, many believe that green, gold, plat credit standards are exactly the same. If you can get one, you can get them all. The zync is even easier to get. While I follow your reasoning on why you think Amex, in your words, premium, cards are harder to get because there is no interest, you are missing the point. Amex premium cards are charge cards (ie pay in full every month) which is why there is no interest. The risk is lower to Amex as you have no running balance and therefore easier to get. Amex cares most about their risk. The premium stuff is just buying into their marketing. Do a search on web on which is easier to get, Amex charge cards or credit cards.

Your reasoning around interest rates is uses incorrect facts. A credit card will have range of interest rates it charges and your credit score will determine what interest rate you pay in that range. First off, cap one venture blue has higher interest rate than cap one gold ventureone card which is opposite of what you said. why? Because its rewards are better. That is pretty typical of card issuers. Better rewards = higher interest. Both cap one cards are equally hard to get. As for your chase sapphire vs sapphire preferred, sapphire preferred is higher to get mainly around the fact that it doesn't grant small credit lines. However, the interest rates on both cards are exactly the same for given credit. Chase decided not to charge preminium for the extra points given for sapphire preferred although I guess the af might make up for that.


the Blue capitol1 venture card according to 1 of the supervisors has a lower interest rate than the gold. credit card companies make money in 2 ways either the annual fee or interest. So I called capitol1 spoke to a supervisor for about 15 minutes, the Main thing she said is most people who have the Blue card pay there bill in full she said there are a few that pay with interest. she said she can't give me the Blue for free.

because the interest rate is lower so they have to charge an annual fee., Even a chase banker told me that the Freedom is a regular credit card while the sapphire are harder cards to get. what are the interest rates on the Freedom vs both Sapphires?

If you ask me the Blue cash and clear are just regular credit cards, any working low level job can apply for 1 whether they get the card is 1 thing, while the premium cards like the green and the Gold are more for business travlers, higher level employees get these cards like you said because there's no interest they have to be paid in full, they can be harder to get.

I never said the Blue has higher interest than the gold. you might have misinterpreted what I said. but what the supervisor on the phone from Capitol1 said the Blue card is for people who have excellent credit and while both cards are hard to get the Blue is a litlle harder to get. like American expresses premium credit cards there a little harder to get if you ask for my opinion than the lending credit cards.

Crashem
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Postby Crashem » Mon Jun 11, 2012 10:18 pm

Money Card,

I respect your opinions, but it is difficult in this situation because you are just inserting your opinion instead of doing the research.

While I like that you talked to Capital One, just go to the website. I was saying, not you, that the Blue Venture is HIGHER interest rate than the Gold Venture no matter what the supervisor told you. I trust their website much more than some random capitol one rep as it would be illegal for them to post incorrect terms and conditions. This is directly opposite of what you said. Think about it. If that supervisor is right (which they were wrong about the interest rates) about Blue being harder to get, why would you charge higher interest rates on people with better credit as that would be opposite of the way our credit system works. Lower interest for better credit. The reason is what I have said better. Blue gives more rewards and therefore has higher interest so they can pay for it. This is a general industry trend. Better rewards = higher interest rate.

As for Chase, the Sapphire card is a set 15.24%. While the Freedom card has a range of interest rates from 12.99% to 22.99%. What this means is that the Freedom card will accept an range of credit scores while the Sapphire card requires some level of credit worthliness which is probably pretty high. Not sure if it proves your point or mine or neither as unclear which has more expensive rewards.

As for AMEX, you basically ignored the fact that you aren't allowed (with a few exceptions) to keep a balance and that's why there is no interest. This is obviously less risk for American Express. As a result, it is an easier card to get. An Amex credit card, on the other hand, is more risk for American Express and therefore harder to get. Interest rates on the credit cards have much more to do with the size of the rewards than anything (which demonstrates what I was saying earlier about more rewards = higher interest rate). The stuff you are quoting about XYZ Amex charge card is for executives and ABC Amex credit card is for your everyday guy is all just marketing bull****. Money Card, I recommend you do a search on the web on this topic. I can tell you every credible source and study on the issue will tell you that I am right.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

bmw1990Z
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Postby bmw1990Z » Wed Jun 13, 2012 10:55 am

Crashem wrote:Money Card,

The stuff you are quoting about XYZ Amex charge card is for executives and ABC Amex credit card is for your everyday guy is all just marketing bull****. Money Card, I recommend you do a search on the web on this topic. I can tell you every credible source and study on the issue will tell you that I am right.


AGREED! That may have been true in the 1960's, but is no longer true today. All my friends at college have Amex charge cards, many with the platinum. Granted, we all come from good families but on our own, no one is making 100k/year (yet).
Cards in my wallet:

-Citi Forward Card for College Students-July 2011

-American Express Platinum Delta Skymiles--July 2013

AmexUser
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Postby AmexUser » Wed Jun 13, 2012 4:25 pm

AmEx credit cards are harder to get than AmEx charge cards, and yet the latter are still more "prestigious" than the former. This is because charge cards cost more to carry, and they are designed with business travelers in mind. It seems that you guys are having this argument because some of you may subconsciously equate difficulty with prestige. As an analogy, it's more difficult to be a math major than a business major, and yet the latter will likely make more money and hold a job that's considered more prestigious by most people.

bmw1990Z
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Postby bmw1990Z » Thu Jun 14, 2012 3:42 am

I was just agreeing with Crashem that either card isn't that hard to get with good credit history.
Cards in my wallet:

-Citi Forward Card for College Students-July 2011

-American Express Platinum Delta Skymiles--July 2013



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