23 y/o just got approved for Gold, have some questions

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23 y/o just got approved for Gold, have some questions

Postby adogg106 » Tue Jul 03, 2012 10:23 pm

Just a little background. I'm 23 years old. I just finished college. I've had 1 credit card the past 4 years which I have paid every balance off in full. Found out the other day my credit score is 741 so I figured maybe it's time to get a new card. AMEX has always intrigued me. They seem like the classiest cards and I definitely want one. I got a couple questions though.

1. Is AMEX Gold a good card for someone like me?

2. I got approved instantly after the application. Is that normal? I only work part time and make hardly any money at the moment cause I've been focused on school. However I do have a healthy bank account for someone my age. $36k

3. I know its a charge card but when I'm at machines do I select credit? Or when I'm at gas stations will I have to pay the credit price for gas or the cash price? Idk if other states do this but I live in NJ and theres a separate price for paying by credit.

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Postby thomaswhitehall » Thu Jul 05, 2012 11:16 pm

1) There are benefits aside from the points system, I'm assuming since your part time your not spending a lot of money per year so getting money back on this card from points after you consider the annual might not work out for you. If you like the benefits and can afford the annual why not?

2) Yes, why not?

3) Select credit. You will have to pay the credit price at gas stations.

CC Deville
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Postby CC Deville » Fri Jul 06, 2012 7:38 am

Opening an Amex Gold when I was 20 was one of the best d*mn things I ever did. I found the Gold to be completely worthless (closed it in 2005), but locking in the 1999 Member Since date has helped as I have since opened two additional Amex's (2008-Blue and 2012-Zync) that both report as opened in 1999! So, even if you don't end up keeping your Gold, in the future when you open a subsequent Amex it will report as opened in 2012.

1) Is it a good card? Well it depends on how you use it. I believe it has roadside assistance and Gold Card Tickets....Other than implied "status" I find no use for the Gold Card.

2) Instant approval is normal for most people. When you don't receive instant approval that means that they need to look into your application more or there was a system error.

3) Press credit because it is not a debit card.

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Postby FastSRT8 » Fri Jul 06, 2012 1:00 pm

Perhaps at this early stage in your life Amex may not be beneficial but later in life, they are a good card to have.
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