Thread: How long to wait before upgrading card?

Hi All. I've been reading these forums for a couple weeks and thought I would join in.

I'm 22, I just graduated from college (in June) and got a relatively high paying job shortly thereafter. Recently I began thinking now would be as good of time as any to begin building my credit scores. In reading through these forums, I've seen many people suggest going on an application "spree", so I applied for 3 cards on the same day.

Through various phone calls over the following days I ended up getting approved for all 3. The cards were a B of A cash rewards signature visa ($5k limit), discover miles ($3k limit), and amex zync. To be honest I was surprised I was approved for any of them, let alone all 3 because I had previously never had my own credit card nor been attached to my parents accounts in any way.

A couple days ago I pulled my credit scores and they were all between 720 and 750 (pulled from myFico (EX from Amex application)). Ideally I would like to stick with AMEX and work my way up through their cards. I will be able to pay all 3 cards in full every month. I am aware that I should stay with these current cards for some time to build a credit history before looking to upgrade.

My question is, how long would you recommend I stay with these current cards before I look to add an Amex Green/Amex Gold/Amex Premier Rewards Gold/Amex Platinum to my wallet?

(P.S. I have roughly $18k in student loans for which payments begin Jan 2012)

You cannot upgrade from Zync to anything but you are a guaranteed approval if you apply for any of their cards. I applied for American Express Clear, Delta Reserve and Platinum about a week or two apart and was approved for all. While i will never recommend anyone complete three applications in the format i did, i have all the credit i need and was only missing the platinum which is all i carry now.

My recommendation is that you apply for the card that suit you best, BOA in my opinion is useless, Discover card Rock, Zync is ok for starters. I see no reason why you will be denied.
Best of luck.

P.S I am hoping the accounts you have now, were opened at least six months ago right?

AMEX seems to interpret the new credit card laws in such a way that they only allow you to upgrade a card after 13 months.

Why do you think the Bank of America cash rewards card is useless?

I would build 6 months of history before applying for another card. I do believe that they would possibly let you upgrade sooner, however.

I don't think ooxs called the Bank Americard Cash Rewards card useless, his opinion is that Bank of America in general is useless. I personally have never had any issues with them. I feel Wells Fargo is useless. To each his/her own I guess.

Originally Posted by DoingHomework

AMEX seems to interpret the new credit card laws in such a way that they only allow you to upgrade a card after 13 months.

This is where I have a question for you because you are extremely smart about cards. some people use the green, the gold, the gold rewards for personal use, while others use the card for business (I can tell you 1 thing, when applying American express knows) so let's say for example an employee who works for IDG, travels on business doing computer shows. let's say they start out with a green personal card but they use it solely for business, they have the bill sent to the office. 7 months later that employee wants either a gold or gold rewards are they allowed to upgrade?

when somebody uses the card for personal use, the green, you are correct they have to wait 13 months. when a company has no problems paying employee business expenses, figure the company has had 1 of the premium cards for over 13 years, does the employee that has the green card for 7 months still have to wait 13 months?

Originally Posted by ooxs

You cannot upgrade from Zync to anything but you are a guaranteed approval if you apply for any of their cards. I applied for American Express Clear, Delta Reserve and Platinum about a week or two apart and was approved for all. While i will never recommend anyone complete three applications in the format i did, i have all the credit i need and was only missing the platinum which is all i carry now.

My recommendation is that you apply for the card that suit you best, BOA in my opinion is useless, Discover card Rock, Zync is ok for starters. I see no reason why you will be denied.
Best of luck.

P.S I am hoping the accounts you have now, were opened at least six months ago right?

guarantee approval if you you have an existing amex? i doubt this is true... if im wrong please clarify. thanks

When I got my Amex green card I spent a few thousand within the first 2 months (business expenses) which helped me to set a standard with them. About 2 months and 1 week later I got a note in the mail about upgrading to gold which I promptly declined since I have a platinum for my business now.