Which one should I get?

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Which one should I get?

Postby runner2012 » Tue Dec 03, 2013 4:34 pm

Hi all. I'm currently a senior in college with a full time job offer at an investment bank after graduation this May. I have an AMEX Zync (member for almost 2 years) and a Chase Freedom ($1500 limit) and a joint account holder with my parents on their CSP ($32000 limit -they pay the bill) and looking to build my credit.

I mostly spend money on food, restaurants and travel and am looking into applying for an AMEX credit card (with no annual fee) since I will be taken off my parents CSP account in the summer. Without the packs the Zync's rewards are pretty sub par so I would rather spend that money on a different Amex card for better rewards.

Since I already have a Chase Freedom card and will probably apply for a CSP in the summer, which of the Amex Blue cards (regular, Blue Sky, or BCE) makes the most sense to apply for?

Thanks for your help!

CC Deville
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Postby CC Deville » Tue Dec 03, 2013 6:35 pm

It sounds like you will have most of your bases covered with the Freedom (cash back) and CSP (highly overrated card IMHO). Both earn UR points so ultimately you can use the UR points from both cards to your advantage for travel etc.

Therefore, I don't think you really need anything from AMEX right now that would be better than the CSP and Freedom cards. BCE would be redundant if you use Freedom (but it depends on if your spending is mostly for everyday living wherein the BCE would be better); Blue by itself only earns MRE points similar to your ZYNC and Blue Sky...again, with CSP Blue Sky seems redundant. You would be better off putting all your spend on the Chase cards to maximize your rewards. I would keep the ZYNC for now or you may close it. In the future when you open another AMEX product the new account will have the 2012 Member Since date and opening year reflected on your credit report.

Now, having said that...a BCE might be a good idea for you because you might want to get a $5,000 credit line on your own for the best chance at being approved for a CSP which are always Visa Signatures and require a $5,000 limit. It has been documented on these credit forums that Chase likes to see an applicant have a high limit before they will give you a shot (meaning they don't want to be your first). So, if you get approved for a BCE now with a $2,000 limit (very common starting limit from AMEX), you can do the 61 day CLI to get the limit up to $6,000 and then in May apply for CSP. Maybe others can chime in and either agree or disagree but this is my two cents on the matter.

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Postby MemberSince99 » Tue Dec 03, 2013 7:23 pm

The annual 7% dividend on the CSP makes it a very worthwhile card in terms of rewards though and balances out the fairly low standard return.

Also CC the BCE would give better return on groceries than the Freedom 3% vs 1% and a better return on gas too unless it's the quarter that the Freedom has 5% on gas in which case the nod goes to the Freedom. I think they are different cards where the BCE is meant for gas and grocery spending vs the general purpose Freedom.

I do agree about using the Amex CLI system to boost your limit before going for a CSP Chase does like to see someone else give you the first 5k+ limit, doesn't mean they never are the first just that they prefer someone else do it before they do.

The Blue Sky is your travel/restaurant card if you go that route, but the BCP/BCE are your gas/grocery cards. If you see yourself going for CSP, I would say do like CC suggests and get a BCE or BCP now (which one depends on how much you will spend on groceries basically) and raise that to help your chances with the CSP. That would be a great combination and one I personally have.

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Postby samhradh » Tue Dec 03, 2013 7:39 pm

If you plan to apply for the CSP (which I think you should given that you have the Freedom) then get the BCE (and soon) and see if you can transfer your Zync CL to your BCE. The CSP has a great airline redemption rate so you will not need the BS.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

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