Can I and should I apply for an amex?

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Snowman
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Postby Snowman » Fri Aug 24, 2012 12:18 am

432521- I do not have any scholarship money ( I pay all out of pocket, and go to a Community college). And my parents do not want to add me as an AU, (my parents have credit line of 28k on their amex's. They have an optima card that they share and each have one seperate card from either Chase or citi, but I have BOFA.). They want me to rather have credit under my name, (I guess to be more responsible?) so they don't want me it on either, which I can understand why. I do not have Financial Aid (parents make too much to qualify) everything is paid out of pocket.
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432521
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Postby 432521 » Fri Aug 24, 2012 12:27 am

I guess I understand why they don't want you on as an AU, but maybe you can convince them to put you on as one and just tell them to keep the card because you won't be using it. being an AU in this instance would just so you would have a foot in the door with AMEX that would be helpful when you apply on your own. also if you get added as an AU now you can backdate in the future which you help with your AAOA
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Snowman
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Postby Snowman » Fri Aug 24, 2012 12:37 am

I tried convincing of my parents of exactly just that, but they said what is the point of making you an AU if you're not even going to use the card? idk...I was trying to get my foot in the door without really relying on my parents too much....
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7Figures
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Postby 7Figures » Fri Aug 24, 2012 3:17 am

I'm not sure how you can possibly only make $4,200 a year even if you made California minimum wage? That's like 80 dollars a week? And you said your 50+ hours a week? Somethings not right. Also AFAIK you don't need to pay taxes unless you make over $10,000 a year ( This part I'm not sure about)

Rory
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Postby Rory » Fri Aug 24, 2012 6:59 am

best bet is to increase your income dude. i got a zync with around 4 months credit history but im making 30k a year behind a bar. I too am going to school part time or full time, never really sure where i fit in. Either way there has to be better job opportunities out there for you. Capitalize on your beneficial attributes and start looking for another job. If you have a goal of getting an amex dont sit by and hope that you will get approved, take action and do everything that you can to assure you will be approved.

Good luck
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Crashem
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Postby Crashem » Fri Aug 24, 2012 7:42 am

Snowman wrote:Crashem- Unfortunately I do not really have a salary. There are some weeks where I work 50+ hour weeks, and there are other weeks where I only work 30-35. That's why, when I looked at my last paycheck for last year I put down the amount. I selected Zync because from what I have seen it is one of the easiest of the AMEX cards to get approved for. I put the Delta Gold (didn't know it was revolver, and nvm on applying for it for a few more years.) And I put the Green, but I'm not so sure. Another reason I was thinking of applying for the Zync was because of it's different packs (trust me, I live on take out food, and eat out at least once a week.) And plus I get to have Amex in my corner in case anything goes wrong, which my current card does not have. But I have worked more this year, so I think I could make an extra 2-3K this year compared to last year. Like I said though it all depends on what my schedule will be when my boss posts it in our schedule book.


Zync is pretty much only one I recommend you try for. And you need to wait for 6 months history at least. I would be a little aggressive with projecting income for application this year.
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SignHere
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Postby SignHere » Fri Aug 24, 2012 8:44 am

Snowman,
It will take a bit of patience in your case. Yes, the Delta Skymiles is one of the easier revolvers to get, but Amex does not seem to like giving out "toy" limits on their revolvers (such as $500). Just from cruising the boards typically most Amex revolvers start around $2,000 which is half your income so that is why it would be difficult for you to be approved for it. I think the card you need to have on your mind first is Amex Zync. You also mentioned the Green which is another big mistake. You say you don't mind the annual fee, but since your income is low a green AF is 2.5% of your income (which really is something to really care about). I think we have all been there in life as a student when every dollar matters from week to week, and the last thing you want is to give out more than you need to especially when you could be saving it.

When you decide to get the Zync, IGNORE all the packs offerred (unless they are free or net you some return ie. Lowes, Eco) The restaurant pack will cost $25, and since you get 2x points, you will have to spend at least $2,500 a year eating out (assuming the restaurant you are eating at codes the transaction properly) to break even on redeeming a gift card worth $25 (cost 5,000 MR points).

Ideally the best time to apply for the Zync would be before the end of the year, so you get your 2012 membership status. Hope this is insightful.
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Crashem
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Postby Crashem » Fri Aug 24, 2012 9:13 am

Good advice Signhere
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Snowman
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Postby Snowman » Fri Aug 24, 2012 12:31 pm

Rory- I agree with you dude. I work at a chain restaurant, 2 different locations. One as a server, and another as a host. With my tips and everything included I net about 300-400 a week, but I use that to pay for my gas, food, and any other things along with my paycheck. But yes I think you're right, I should start looking for another job, but there are hardly any other places that are hiring other than food, and unless I have a degree, It'll be difficult to work anywhere but food/service places.

Signhere-I will heed your advice, and I will apply for the Zync in December (8 months of history by then.) The reason why I was also looking at the Zync was for the food. I typically make about 400-500 a month. 200-250 goes for Gas and whatever groceries I need to buy. The other 100-200 is for food, and other miscellaneous expenses. I wanted to use my BOFA card for Gas and Groceries, and Zync for food, and other miscellaneous expenses. Heck, I wouldn't mind a small limit either if need be. But I guess for now I will hold off...

But also If I put my occupation under student, would that make it less likely for me to be approved? I didn't make much last year, but I have already made slightly more than I did last year.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

SignHere
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Postby SignHere » Fri Aug 24, 2012 5:49 pm

Sounds like a good plan Snowman. Keep patient and let your credit grow with you!
Amex PR Gold - NPSL (Daily) [8/2012]

Amex Zync - NPSL (Ex-Daily) [10/2010]

Amex BCE - 19.2k [8/2012]

Chase Freedom Visa - 5k [8/2012]

PSECU Visa/PSL - 20k [9/2012]



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