- Centurion Member
- Posts: 321
- Joined: Mon Jan 02, 2012 1:21 am
- Location: Denver
VisaSpeak wrote:Before I begin, here are my stats:
Score: 750-760 (used credit karma)
1 credit card, <1 year credit history.
I plan to apply for AMEX Platinum (the Mercedes version). Pay the $475 fee, use the card for a year. Get the 50k reward points. Then when a better deal comes out for AMEX GOLD PR, I will apply for that as well, get the bonus. Then I will cancel my AMEX Plat before the next annual fee is due. By then I will have used the $200 airline fee credit or whatever, and combine the MR points with the AMEX Gold offer. Will this work? How will it affect my credit
No this will not work. Your age and credit, AAoA is way too low. In addition, unless you have stellar credit (which you don't) your credit profile does not meet the minimum requirements. Once you have a platinum card American Express will stop sending offers for other lower cards. So you will never get a Gold PR offer. It is coded into their system that way. You think you can cheat the system, but AMEX has advanced software that is smarter than you. AMEX does not use JUST a credit score to determine your worthiness. A credit score is like a semester grade, sure you got an A for the term, but you could have a 1.0 cum GPA. Your AAoA keeps you at a lower rating.
During an "off topic conversation" with card services, it now takes well over six figures or significant assets/portfolio to get a platinum card at 21. But hey, good luck to you and let us know what happens.
American Express Platinum Personal, Member since 94
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