Which card should I get?

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Which card should I get?

Postby runner2012 » Sun Dec 02, 2012 12:28 pm

I'm a 20 year old college student looking into the Gold Card. I've been a joint account holder on my parents' Chase Sapphire Preferred account with a limit of 33k since March 2012 (they pay the bill), have no debt and have had a Zync card (in my name, no limit) since June 2012.

I travel a lot and spend a lot on restaurants and groceries (close to $1000 per month between both cards). I have a part time internship that pays about $1,500 per month and plus an allowance from my parents. Would it be worth it to apply for Gold or PRG, or stick with Zync? Do you think I would be approved?

Appreciate anyone's thoughts

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Postby hematino » Sun Dec 02, 2012 7:26 pm

Out of curiosity, what makes you want the Gold card? Zync has most of the same basic Amex benefits as Green/Gold/PRG at a fraction of the annual fee, unless you signed up for a bunch of the reward packs. Gold is really only worth it unless you go to a lot of entertainment events throughout the year and will take advantage of its perks-- PRG, although having a nice sign on bonus, is outclassed in rewards by the Blue Cash revolvers (esp when you weigh the annual fees, there is no comparison). Other than simply to take advantage of the initial incentive bonus, PRG isn't really that great unless you are a big time traveler, in which case Platinum would be much better to suit your needs. Besides, if you are an AU on that Sapphire Preferred account, that pretty much takes care of your travel needs so the PRG wouldn't really be needed. If you are interested in the PRG because of the extra points on the groceries, there are MUCH more lucrative cards out there for this category, look up the Fidelity Amex or Priceline Visa which both offer 2x on everything and have no annual fee, or the Amex Blue Cash Preferred which offers 6x on groceries at less than half the annual fee of the PRG.

It seems like a lot of the members on this board who are holders of personal Amex Gold and PRG are remorseful of their decisions to get these cards, and don't find that the benefits outweigh the annual fees. I have a Green card myself, and am a little disappointed for all it doesn't do for that $95 annual fee as opposed to all my other cards that greatly outperform it at less or even no annual fee. I planned to app for Zync come January to take advantage of backdating and so I could dump the almost identical Green card, but unfortunately new Zync accounts are no longer available. The annual fee for the Zync ($35 I think, although I could be wrong) is much more fair for the benefits it offers, and is ultimately in my own opinion a better deal than the other Amex charge cards, with the exception of Platinum. That being said, I do think Amex would probably approve you for another charge card.

Just my own thoughts. In any case good luck with your decision.
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Postby Vermonster » Sun Dec 02, 2012 7:43 pm

I think you would be better off with a BCE/BCP. I don't really see how a PRG would be enough of an improvement, for a 20yo full time student, over the CSP.

If anything, I would consider getting your self a Freedom or More/IT to take advantage of 5% categories.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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Postby agp » Sun Dec 02, 2012 9:50 pm

Start with cards that charge no annual fees, so you can hold on to them even if you don't use them. Look at Chase Freedom, Discover More, Amex BCE first. Get in the door with these banks first then go for gold (hopefully by then you'll realize you don't need it).

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

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Postby Rory » Sun Dec 02, 2012 10:34 pm

can you realistically support yourself without your parents help? I would suggest that you establish a strict budget before you go about finding ways to spend it.Say you upgrade and end up paying $175 a year. if your parents cut you off then you would just have an expense on something you wouldnt be using to its potential. not a great trade when you consider that youre only paying around $25-75 a year for your current charge.

Stick with Zync till you get a full-time job and graduate, the card is limited edition now so I prefer to have it over any other charge at the moment. Apply for a BCE if you want to get the most bang for your buck and not worry about annual fees
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:

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Postby runner2012 » Mon Dec 03, 2012 8:00 am

Thanks for the help. I was just curious to see if there were better rewards with a different kind of amex charge card -that's what led me to the gold card/prg. I was considering applying for the bce but was deterred because I wasn't sure whether or not I'd be approved because I don't have a full time job. As for cash back rewards cards would another card like chase freedom be better than an amex bce?

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