From Capital One $500 limit to American Express

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Twelfthjoe
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From Capital One $500 limit to American Express

Postby Twelfthjoe » Fri Oct 12, 2012 7:56 pm

Not long ago I had posted on here and did not really get any good replies so I thought I would add a little more detail and maybe that would help. Anyways I had posted about how one day a little over a month ago a friend was over and a commercial for American Express came on the TV so we were messing around and both applied for the platinum card. I’m 21 and then the only card I had was a Capital One card with a $500 limit and they refused to increases it not long ago when I asked. Keeping in mind I have never missed a payment or ever used more the 50% of the credit. I had it about a year. He as a Capital One card also but with a $300 limit. Had it about 6 mouths. He applied first and got declined for it right away and I started thinking maybe I shouldn’t but did anyways and I got this.



Thank You for applying for the American Express® Platinum Card. In order to provide you with an instant decision, we need to speak with you.



So I called gave them my SSN they pulled it up asked me a few questions. Where I live, where I work, what I make and so on. I told them everything honesty. I’m a Hotel Front Desk Supervisor and Housekeeping Supervisor and only make around 45k a year. She then asked me to hold for a few minutes as she had to check something. I have no idea what anybody got any ideas?

She then came back about 5 minutes later and said. Welcome to American Express you are approved for our Platinum card and you'll get your card in the mail with-in 2 or 3 days.



So after thinking about it for a while and still am I thought man how did I get this? Does anybody have any ideas? Did the Capital One card help that much? I have also checked my credit report and had a credit score of 668 I believe. I see two Capital One inquires one for the card and the other for the increases I’m guessing the American Express one is also on there and a student loan is on there also. Thanks for your replies in advance. :)


And for anybody that may not believe me.
Got a few PM's last time saying I'm well full of crap. LoL :)

Then
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Now
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DavidNY
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Postby DavidNY » Fri Oct 12, 2012 10:19 pm

Congrats on the card, but why are you surprised? The underwriting works the same for Amex green, gold and platinum, only the fees and benefits are different.

I hope you'll be able to make good use of the benefits, otherwise it's just an expensive piece of plastic.

AMEXGoldfan
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Postby AMEXGoldfan » Fri Oct 12, 2012 10:24 pm

Capital One is awful about raising credit limits. I had one for 8 years & they never raised it above $500! Nice thing about Amex is the spending limit that goes well into the thousands. What's in my wallet? Not Capital One!

Rory
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Postby Rory » Fri Oct 12, 2012 10:25 pm

$450 annual fee... thats a solid 1% of your entire income wasted on benefits you will barely use. Explain how that was a smart decision? Good luck in advance...
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:

Centium
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Postby Centium » Fri Oct 12, 2012 11:09 pm

Rory wrote:$450 annual fee... thats a solid 1% of your entire income wasted on benefits you will barely use. Explain how that was a smart decision? Good luck in advance...


How do you know he won't use some of the benefits? Also, who cares what he spends on the annual fee? He wanted the card, applied for it & got approved. Don't attack someone when you don't know the full story..
Chase Sapphire Preferred - $20,400 | Citi Dividend World Elite Mastercard - $19,600 |Amex Delta Skymiles Gold - $14,000 | Chase Amazon Visa Signature - $6500 | Dell Preferred Account - $2,500 | Kohl's Charge - $2500 | Amex ZYNC - NPSL

jlam572
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Postby jlam572 » Fri Oct 12, 2012 11:27 pm

Congrats on the card. I would be surprised as well... with an annual fee that high, be very vigilant to get the most of your benefits to make it worth it. My amex PRG has almost got me a first class ticket (one way) from hawaii to SF in a couple more months. That alone would cover the annual fee and then some. Use it wisely and get the most out of it!
American Express Platinum
Chase Sapphire Preferred
Hawaiian Airlines BOH MC
USAA Amex
Capital One Visa Platinum
Citi Diamond Preferred MC

Twelfthjoe
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Postby Twelfthjoe » Sat Oct 13, 2012 12:31 am

DavidNY wrote:Congrats on the card, but why are you surprised? The underwriting works the same for Amex green, gold and platinum, only the fees and benefits are different.

I hope you'll be able to make good use of the benefits, otherwise it's just an expensive piece of plastic.


Mainly because Capital One would not give me a CLI no matter what I did and I was at $500 line for awhile and always paid. So I never thought I would get an American Express.

Twelfthjoe
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Postby Twelfthjoe » Sat Oct 13, 2012 12:34 am

Rory wrote:$450 annual fee... thats a solid 1% of your entire income wasted on benefits you will barely use. Explain how that was a smart decision? Good luck in advance...


Well I've already got $80 back for Delta seat upgrades and the 25k points are on the way from me putting my college stuff on it. That's $330 back already.

Twelfthjoe
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Postby Twelfthjoe » Sat Oct 13, 2012 12:36 am

AMEXGoldfan wrote:Capital One is awful about raising credit limits. I had one for 8 years & they never raised it above $500! Nice thing about Amex is the spending limit that goes well into the thousands. What's in my wallet? Not Capital One!


I now think the same. :)

Twelfthjoe
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Postby Twelfthjoe » Sat Oct 13, 2012 12:38 am

Centium wrote:How do you know he won't use some of the benefits? Also, who cares what he spends on the annual fee? He wanted the card, applied for it & got approved. Don't attack someone when you don't know the full story..



I never really thought I would get it. But as far as benefits i got back $330 already as you can see in my comment right above this. Plus I'll get to try out an airport lounge. Never been in one lol :)



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