Have only 1 card for 8 months, will I qualify for an Amex?

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0_to_60
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Postby 0_to_60 » Mon Oct 29, 2012 11:16 am

Hey guys does it matter with charge cards to keep a low utilization? if yes how many percent. Also when should i pay the full balance?


Robrus1
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Postby Robrus1 » Wed Oct 31, 2012 1:35 pm

Since there is no hard limit, utilization isn't an issue. Be aware that you cannot carry a balance with your charge card and that the full amount charged will be due by the due date of each months bill. Don't charge more than you can pay off in a month.
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0_to_60
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Postby 0_to_60 » Wed Dec 12, 2012 12:05 am

Just an update guys, so loving the Amex card. Unfortunately ran into issues 2 weeks after i got the card, someone made fraudaulent purchases up to 3k. Amex handled it and sent me a new card, thats about it. Been using this card just like cash. Im amazed almost 98% of the places i shop accept Amex.
Also i noticed my credit dropped drastically after opening up a new account with Amex, plus an inquiry.

jdauria
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Postby jdauria » Thu Dec 13, 2012 10:14 am

I am also 23 and looking to get an Amex card. I currently only have 1 from my credit union (but that is probably because I work there). Income ~$45k, no student or car loans. I get those Amex "hook" applications in the mail all the time, I went to apply for one and was denied immediately. Said due to limited credit history, I'll just have to wait my turn. Was approved for Citi Forward immediately for $6k CL
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0_to_60
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Postby 0_to_60 » Sun Dec 16, 2012 4:06 am

jdauria wrote:I am also 23 and looking to get an Amex card. I currently only have 1 from my credit union (but that is probably because I work there). Income ~$45k, no student or car loans. I get those Amex "hook" applications in the mail all the time, I went to apply for one and was denied immediately. Said due to limited credit history, I'll just have to wait my turn. Was approved for Citi Forward immediately for $6k CL


how long did you have credit? and did you pay off full each month?

jdauria
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Postby jdauria » Sun Dec 16, 2012 7:34 am

0_to_60 wrote:how long did you have credit? and did you pay off full each month?


You mean how long have I had my credit card? The credit union one for only 6-8 months. Paid in full 90%of the time. When citi approved me my credit score was 40 pts higher?? Than when Amex pulled it when I applied for them
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Future:

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0_to_60
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Postby 0_to_60 » Mon Dec 17, 2012 12:11 am

which Amex did you apply for?

jdauria
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Postby jdauria » Mon Dec 17, 2012 6:35 am

0_to_60 wrote:which Amex did you apply for?


Applied for Green (got the app in the mail), Gold, and Blue Cash/Pref. I guess Amex just doesnt like me
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jriley
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Postby jriley » Mon Dec 17, 2012 8:36 pm

I wouldn't apply for three cards so quickly, by the way... not a good idea. Wait a couple of months, make sure your utilization is at or below 30% on your Citi card, and then try again after a couple of months.
Looking to maximize credit, for myself and others.

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jdauria
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Postby jdauria » Mon Dec 17, 2012 8:39 pm

jriley wrote:I wouldn't apply for three cards so quickly, by the way... not a good idea. Wait a couple of months, make sure your utilization is at or below 30% on your Citi card, and then try again after a couple of months.


Yeah i got that now. Just BS they keep mailing you the "pre-approved" applications for different cards. I plan on keeping the utilization to around 10% actually on the Citi card.
[font=Times New Roman][size=80]American Express Green[color=green] [NPSL][/color]

American Express Blue Cash Preferred

Chase Freedom



Future:

American Express Premier Rewards Gold[/size][/font]



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