Bank of America Accelerated Cash Rewards Amex?

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Bank of America Accelerated Cash Rewards Amex?

Postby caliform » Fri Aug 03, 2012 5:11 pm

Hey all,

I've been lurking the forum for a while now as I'm a recent immigrant (a little under a year in Permanent Resident status) and as such have been struggling to establish a credit score. I've read tips here and elsewhere and made sure to establish a good relationship with my bank as well as keep a nice Capital One secured card for a while to get a semblance of a file established with the major bureaus.

I had excellent credit in the Netherlands, but of course that doesn't transfer. I have an excellent paying, stable job here in the US.

Recently I managed to get BofA to approve me for the Accelerated Cash Rewards Amex card. My endgame is really getting a regular Amex card, or just a high credit score in general so I can be free in where I go with credit cards, loans, etc.

What would you consider to the best steps to continue building on my credit and relationship with these credit providers? Does having this card make it easier for me to apply or get an American Express card later on? Should I raise the limit (it starts at a mere $1000), and if so, what would be the best way to do so?

Thank you!

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Postby PlatinumAMEX94 » Thu Aug 16, 2012 7:31 pm

It was my understanding that credit cards vary from country to country but work universally. If you have great credit back home, why not apply for an American Express there and have it transferred to the US version?
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Postby CC Deville » Thu Aug 16, 2012 7:42 pm

How did you get an Accelerated Cash Rewards Amex? I thought they discontinued offering that to new cardholders in 2011.

Anyway, like PlatinumAmex said, Amex will transfer one card from your home country to your new country. So your best bet would be to apply for one in NL and have it transfered to the US.

As far as your other questions: having a BofA issued Amex will not help you gain a "real" Amex per se; however, managing that account and all other accounts responsibly will help in being approved for better cards with higher limits. It just takes time. You might also look into opening an Amex Zync charge card. Spend a year with that card and then apply for the Amex that you really wanted. But again, if you can be approved in NL for a good Amex I would go that route and have it transfered to a US version. That is what I would do if I moved to Canada.

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