Amex Financial Review

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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MemberSince99
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Postby MemberSince99 » Fri Dec 07, 2012 9:55 pm

On FICO some say that playing with the "checking your spending ability" button really might be labelled a "F/R me" button. I mean if you go nuts on it, yeah they probably will. I used it twice, once one day and once about a month later. And I didn't put in a huge amount. That probably stays under the radar. Putting in progressively larger amounts, that probably gets you noticed, and in a way you probably won't much like.

But as always YMMV some people do it and nothing happens. Hard to say with Amex.

I think that's wise advise, staying under their radar. I guess you have to ask, why would you want a card you constantly have to worry about having declined?

For that matter, what is NPSL but a marketing gimmick really? TELL me my limit, don't make me guess, and if I spend more one month then F/R me even though you APPROVED the charges. If you really think it's risky, why approve it THEN shut the card off and F/R me? I fail to see how that makes sense - if you're going to burn them why give you more to burn them with?

Oh well they didn't ask me for advice but I'm just saying, that I really don't understand that at all.

The only way I can see it really making sense to deal with Amex is for the backdating. If you are getting 10, 15, 20 years, then yeah it probably makes sense to put up with the craziness, or if you wanna pull out that Gold or Platinum card and impress a girl, sure, though that might not be the kind of girl it's smart to impress, but otherwise, I'd prefer a more conventional lender.


jriley
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Postby jriley » Fri Dec 07, 2012 11:01 pm

From what I can tell, I think AmEx is trying to keep their cards close to their chest with the NPSL. It allows them to evolve your limit as you (they hope) have your card over a long period of time.

It also helps them figure out what kind of customer you are with the "check my limits". If you're the kind of person checking, you may not be right for AmEx. I, personally, wouldn't go with anyone else.

I've been very, very pleased thus far. But as you pointed out MemberSince99, some people want a more conventional lender.
Looking to maximize credit, for myself and others.

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RR101
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Postby RR101 » Sat Dec 08, 2012 8:49 am

Snowman wrote:I agree, If I got an FR, I'd rather have my account closed, I mean I'm being truthful and honest, while paying my bills. If they didn't want me to have one of their cards they could have declined me for their cards or checked my paystubs before granting me a card. One of the lessons I learned on myfico and some of the other posts I have read online was, "always stay under the radar, not on the radar." And so yeah, I'm trying to stay under the radar when using Amex. I have heard that having one of their revolvers to can trigger an FR which in this case is true.

RR- Good luck, and hopefully everything turns out in your favor.


Thanks Snowman.

I would've been willing to provide my pay-stubs or even bank statements something quick and easy... But 4506T, it's not that serious for me to have that card... The only reason I got the card is because they kept sending me offers for it...

RR101
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Postby RR101 » Sat Dec 08, 2012 9:51 am

jriley wrote:From what I can tell, I think AmEx is trying to keep their cards close to their chest with the NPSL. It allows them to evolve your limit as you (they hope) have your card over a long period of time.

It also helps them figure out what kind of customer you are with the "check my limits". If you're the kind of person checking, you may not be right for AmEx. I, personally, wouldn't go with anyone else.

I've been very, very pleased thus far. But as you pointed out MemberSince99, some people want a more conventional lender.


There's more factors that trigger FR, then just "check limit" that only Amex knows.... But if anyone has to go through a FR, God forbid it! Be prepare to be without your account for at least 2 to 3 weeks!

jriley, seems like you don't have a choice but to rule with Amex according to your signature... You might want to add a visa or master card to your wallet just in case!

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Snowman
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Postby Snowman » Sat Dec 08, 2012 9:59 am

99- Yeah, pretty much messing around with that button is begging for an FR. I have a friend whose dad makes about 120k+ a year and he travels a lot. They went to Vegas for 3 days for fun and my friends dad brought only his PRG and CSP (my friend was telling me AMEX can be a PITA.) So anyways while going to dinner one night the card already had like 4,900 balance (not all from Vegas) and when they tried to pay for their food, it kept getting declined. It turns it was only 5k that he could charge. Thankfully the were able to pay with his other card...or else it would have been a nightmare. So I agree, it's better to have a conventional lender as well, at least you have a CL instead of never knowing when your card might get declined or not. That's why when I got my PRG I started entering small amounts and got approved to 400$ (no I'm not messing with it anymore). And yes it does get you noticed, and not in a nice and pleasant way either.

No problem RR, It was just something I learned with having other issuers in my pocket. Like with BOFA card, I've charged amounts of 100-600+ on there with no problems, and paid it back with no problems. Same with Citi, I've charged nearly 1,100 (only had the card for a month) and I've never had issues because I've always been able to pay it back and before the statement cuts. I think what really triggers these FR's is when people start charging copious amounts on their cards. Like say for example you make 90k a year, and all of a sudden one month you charge 7k and then 6k, and then 4k, you have to be consistent and spend within limits (like 1-2k a month if you can) and not spend like no tomorrow, I mean they are going to be alarmed at the fact that how are you going to pay your other bills too. And I agree, I'm not letting them see my finances over a card, if they didn't want me, then they could have chosen to decline. So yes, I'm doing my best to stay under the radar. And they never send me offers....

Because look, Amex is really meant for people who travel a lot who have excellent credit. They are also meant for people who travel for business often or for people who are financially stable and with a decent income. I just don't like the fact that I would have to send over my 4506T just so I can have one of their cards, It's not worth it for me. I can do pay-stubs and bank statements, but not that.

Good luck again, and let us know how everything turns out.
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RR101
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Postby RR101 » Sat Dec 08, 2012 10:26 am

Snowman wrote:99- Yeah, pretty much messing around with that button is begging for an FR. I have a friend whose dad makes about 120k+ a year and he travels a lot. They went to Vegas for 3 days for fun and my friends dad brought only his PRG and CSP (my friend was telling me AMEX can be a PITA.) So anyways while going to dinner one night the card already had like 4,900 balance (not all from Vegas) and when they tried to pay for their food, it kept getting declined. It turns it was only 5k that he could charge. Thankfully the were able to pay with his other card...or else it would have been a nightmare. So I agree, it's better to have a conventional lender as well, at least you have a CL instead of never knowing when your card might get declined or not. That's why when I got my PRG I started entering small amounts and got approved to 400$ (no I'm not messing with it anymore). And yes it does get you noticed, and not in a nice and pleasant way either.

No problem RR, It was just something I learned with having other issuers in my pocket. Like with BOFA card, I've charged amounts of 100-600+ on there with no problems, and paid it back with no problems. Same with Citi, I've charged nearly 1,100 (only had the card for a month) and I've never had issues because I've always been able to pay it back and before the statement cuts. I think what really triggers these FR's is when people start charging copious amounts on their cards. Like say for example you make 90k a year, and all of a sudden one month you charge 7k and then 6k, and then 4k, you have to be consistent and spend within limits (like 1-2k a month if you can) and not spend like no tomorrow, I mean they are going to be alarmed at the fact that how are you going to pay your other bills too. And I agree, I'm not letting them see my finances over a card, if they didn't want me, then they could have chosen to decline. So yes, I'm doing my best to stay under the radar. And they never send me offers....

Because look, Amex is really meant for people who travel a lot who have excellent credit. They are also meant for people who travel for business often or for people who are financially stable and with a decent income. I just don't like the fact that I would have to send over my 4506T just so I can have one of their cards, It's not worth it for me. I can do pay-stubs and bank statements, but not that.

Good luck again, and let us know how everything turns out.


Thanks,

Well, I received a email last week saying that my account has been canceled.... But I could careless! I use my CSP for everything anyway which I feel is a way better card anyway! American Express is way over rated!!!

Robrus1
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Postby Robrus1 » Sat Dec 08, 2012 3:43 pm

RR101 wrote:Thanks,

Well, I received a email last week saying that my account has been canceled.... But I could careless! I use my CSP for everything anyway which I feel is a way better card anyway! American Express is way over rated!!!


I can't believe they did that to you, that is ridiculous. If they ever do that to me, my CSP will become my only primary use card. As long as all payments are made on time, they shouldn't FR in my opinion, but sadly I don't run AmEx.

At least you have the CSP. It is a great card, indeed. AmEx should not send people offers if they are going to feel the need to FR those people. That's very odd.
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MemberSince99
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Postby MemberSince99 » Sat Dec 08, 2012 4:48 pm

With your CSP you honestly do not need them. That is a great card and Chase is worth being in with.

In all fairness to Amex, they have the right to run their business as they please. But we as consumers also have other options and the right to use them.

Just take care of your CSP and I'm sure it will be WAY less grief than Amex.

jriley
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Postby jriley » Sat Dec 08, 2012 5:46 pm

RR101, I'm eighteen, so thus far I don't think having diverse credit matters that much. I plan to keep an AmEx card the rest of my life, as well, so good to start early!
Looking to maximize credit, for myself and others.

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MemberSince99
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Postby MemberSince99 » Sat Dec 08, 2012 6:27 pm

jriley, at 18 I thought I was going to live forever too. But along the way sometimes things change. 6 months ago I saw myself only using Amex cards and gave thought to closing my others. Glad I didn't. Sometimes things happen that you didn't expect or are beyond your control.

In your case, getting in now is great, and will surely help you long term whatever your goals may be or become.

I would still advise diversifying though, because you just never know. You have plenty of time and a couple of nice cards so congrats to you on your nice start. That's a great way to start with your credit!



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