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American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Snowman
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Postby Snowman » Thu Nov 01, 2012 8:11 pm

What about the scorewatch subscription and the Experian subscription? should I buy those or is that not a good idea? I do not know what my updated scores are as of today since I last checked them last Thursday. And I hope they are not so touchy...and I'll probably then go for the Freedom and the BCE at the same time and see what happens, what happens If I am denied for the Gold? I don't want to really waste an inquiry...
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.


sakhalin
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Location: West Coast

Postby sakhalin » Thu Nov 01, 2012 10:24 pm

Your scorewatch money will begin to pile up after awhile. Your money, your choice. If you can afford it, go for it. It's a useful tool. I don't pay for any score watch things b/c I like to conserve money, and I know that my scores are decent lol. I'll probably purchase my scores before I take out a loan or apply for a credit card I really want. That's just me though.

If you're denied for the Gold, just garden. Your inquiry is not permanent. But like Sparky has said, AMEX can be pretty sensitive to stuff like inquiries, average age of accounts, and income. Your credit history is not even a year old, so just mentally be prepared for the chance that you get denied.
AMEX BCE ($20,000), Citi Forward ($6,800), Discover IT ($5,250), BoA Travel Rewards ($1,800)

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Snowman
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Postby Snowman » Thu Nov 01, 2012 11:32 pm

I think it is better if I take the same approach, I don't like spending money unnecessarily. And eh, I'm prepared if they don't approve me, I'll just try again in May-June (end of the month) for all three (BCE, Gold, and Freedom) and see what happens, If I do get approved for the Gold, I'll be very happy :)
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.

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Snowman
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Postby Snowman » Fri Nov 02, 2012 2:11 pm

Also I checked my credit report from TU and I saw that Citibank had pulled Experian and Discover pulled Transunion, and apparently when I went to go buy my phone and and have an account with AT&T they also pulled my credit (they pulled EQ). When do these inquires fall off usually? and these are my score as of today

Transunion: 737
Experian: 737
Equifax: 731

I think I have a good chance once these cards start reporting to go for an AMEX (fingers crossed)
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.

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Snowman
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Location: North Los Angeles County

Postby Snowman » Sun Nov 04, 2012 6:34 pm

Okay is have another question I just recently got my Citi card on Friday and the only thing I have charged so far is lunch on my work break. It shows as pending, and I know for a fact that it usually clears but according to my account it says the Next Statement closing date 11/8/12. So how would I be able to work this out if I want to apply for an AMEX in the upcoming months, I don't want to really carry a balance. I got my due date changed to the 23rd as well. I just don't want to really carry a balance and I dont understand why my statement cut off is the 8th since I had asked them if it can be the 26th (same date as my BOFA card cuts off.) So does this mean a balance will show up and hurt me? idk what to do, because it is all pending, but it will clear on Wed (typically when it clears.) I'm lost. Also lets say I let a balance report on the 8th (maybe 14-15$), and let's say I pay that off, but then I go out and spend about 150, will I have to pay the 150 as well on the 23rd or do I have until the next statement closing date to make sure it goes back to 0? I plan to carry very small balances on my cards (20-25) dollars and then just pay them off on the following weekday....but idk.
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.

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Snowman
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Postby Snowman » Wed Nov 07, 2012 6:53 pm

Actually I'm going to change my post. I talked to Citi's CSR's and they were somehow able to change my statement date to the 27th so now I can pay my bills on the same day. Anyways, should I carry a balance on anyone of my cards? I'm planning on paying off 2 cards and then letting the other report a small balance, is this beneficial for my score or will it drop? Also, do you guys know of a site where I can view all three of my credit reports or scores monthly? I know TU has a credit monitoring thing for 16.95 every month, but idk if anybody here is experience with it. I'd like to monitor it once every 2 weeks, and keep my scores high. Thanks again!
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.

SparkyinCA
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Location: Davis, California

Postby SparkyinCA » Wed Nov 07, 2012 11:58 pm

Snowman wrote:Actually I'm going to change my post. I talked to Citi's CSR's and they were somehow able to change my statement date to the 27th so now I can pay my bills on the same day. Anyways, should I carry a balance on anyone of my cards? I'm planning on paying off 2 cards and then letting the other report a small balance, is this beneficial for my score or will it drop? Also, do you guys know of a site where I can view all three of my credit reports or scores monthly? I know TU has a credit monitoring thing for 16.95 every month, but idk if anybody here is experience with it. I'd like to monitor it once every 2 weeks, and keep my scores high. Thanks again!


You might want to try USAA Credit Monitoring. It is pretty much the same as Credit Secure that you can sign up for once you get Amex (identical FAKO scores for all 3 CRA's). It's Experian based, but remember, the scores can be way off from your FICO scores, so just watch for trends up or down as things change on your 3 reports. You'll be able to see when your balances post after your statements cut. There is a ton of info on the reports so lots to learn what affects your scores. From what I've noticed my USAA FAKO scores are about 20 to 30 points higher than FICO's. Here's the link so you can study and check it out:

https://www.usaa.com/inet/pages/creditcheck_monitoring_main?wa_ref=pub_global_products_bank_creditmonitor

You don't have to belong to USAA to sign up for this credit monitoring product that USAA offers. You just sign up for it, you'll need to get a PIN and follow the registration process. Anyone can sign up for it. I suggest the Premium Product Monitoring package or get the one where you can pull daily. I think it's a few dollars more a month. I don't use it anymore as I'm using Credit Secure now. But it worked great to monitor. You're on the right track, Snowman! Keep up the good work..And don't forget, let one card post a small balance to maximize your FICO scores and make sure your other cards are PIF with $0 just before the statements cut. There is no question this is the best way to have the highest FICO scores for those that understand how things work. Your FAKO's will drop that you are monitoring your credit reports with, but they don't matter. Only your FICO scores matter when you apply for credit. I can't stress this enough so you understand that. Use the monitoring products to see your INQ's, balance changes and score trends, but the scores are crap and don't trust them because they won't match your FICO's..Got it?

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Snowman
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Postby Snowman » Thu Nov 08, 2012 8:56 am

Sparky, I noticed when I was on my discover account that they had what's called credit tracker and it was 9.99 monthly. Should i look into purchasing it? If not I'll check out usaa monitoring service. But would transunions credit monitoring and score be good to use? And I understand what you are saying, leave a small balance on anyone of my three cards report and pay the other 2 off. What would happen if some months I paid all three down to 0 or all of them had a small balance? My statement date cutoffs are as followed: BOFA (26th) citi (27th) Discover (12th)
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.

SparkyinCA
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Location: Davis, California

Postby SparkyinCA » Thu Nov 08, 2012 9:38 am

Snowman wrote:Sparky, I noticed when I was on my discover account that they had what's called credit tracker and it was 9.99 monthly. Should i look into purchasing it? If not I'll check out usaa monitoring service. But would transunions credit monitoring and score be good to use? And I understand what you are saying, leave a small balance on anyone of my three cards report and pay the other 2 off. What would happen if some months I paid all three down to 0 or all of them had a small balance? My statement date cutoffs are as followed: BOFA (26th) citi (27th) Discover (12th)


I think the TU credit monitoring just monitors your TU report? You need monitoring of all 3 (TU,EX, EQ). USAA monitors all 3. Just monitoring one report is not enough, so that's why I recommended USAA. If TU monitors all 3, then that will work too. Go with whichever monitoring service is the cheapest since the scores don't matter to you as they are FAKO's and you are just monitoring for changes across all 3 reports. Although you may not have any changes except for your normal balances posting each month, it's good to watch for identity theft purposes if a new account shows up on one of the CRA's. Not all credit cards report to all 3. I have one credit card that only posts to 2 CRA's. You have to know which cards report to which CRA's (most report to all 3, but not all of them do is my point).

If you pay all 3 cards down to $0 your FICO's will drop 10-25 pts since it looks like you are not using your credit. FICO will penalize you for that. It's not a big deal if you aren't planning to apply for new credit and if it's easier for you to just make sure they are all paid, then do it if you don't plan to apply for anything in the near future.

If you have balances that report on all 3 cards, most likely your FICO's will drop too. Just depends on how much you let report since FICO will penalize you if you're using about more than 10% of your total credit limits (and it goes by card too), so if you have $5000 total credit available, don't exceed $500 of your total credit. If you have a card with a $1000 limit, then don't go over $100 on that card. Remember, you can charge more during the month, just make sure you PIF before the statement cuts and it will only report $0. That's why it's important to know your statement cut off dates so you can plan what you want to report and when.

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Snowman
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Postby Snowman » Thu Nov 08, 2012 10:50 am

Well I have lines of 700, and 1.5k on Citi and Discover. I don't really want to monitor my Fako's though, rather all of my true Fico scores. And the next 2 cards I want are the Amex Gold and Chase Freedom towards the end of next month. If I do happen to get approved for both of those then I'm done for a year. I just need a plan, like how much I should leave, on which card, when should I apply etc. Because I did mention when my statement dates are cut.
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.



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