Opening a New AMEX with a hard limit. Suggestions?

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Jslimm1985
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Opening a New AMEX with a hard limit. Suggestions?

Postby Jslimm1985 » Wed Sep 05, 2012 9:41 am

Hello all. I'm new to the forums so just to give you a little bit about myself.....

I'm a 26 year old servicemember (Army E-6)
I have 700s+ across the board
My first Amex was the Green (1/2011)
I've since then upgraded to the Gold Regular (2/2012) with pre-approvals for PRG and Platinum.
On average I charge 3-4k on my Gold and pay with no problems.

I'm looking to boost my credit scores just a tad as I am on the market for a new vehicle. I'm looking at staying with Amex simply because I've had nothing but great experiences with them. Any recommendations on revolving AMEXs? Once again, I'm simply looking to bump up my scores by increasing my overall credit limit (16K).

Any insight would be greatly appreciated! ;)
Revolvers
Credit Union MC 3/2004 ($6K)
Capital One Platinum 3/2005 ($500) :mad:
Dell Financial Services CC 2/2007 ($2.5K)
USAA Cash Rewards World MC 10/2011 ($9.5K)
AMEX BCE 01/2013 ($10K)

Chargers
AMEX Gold 1/2011(NPSL)

EXP 721 (01/02/2013) Amex
EQU 695 (01/10/2013) PenFed
TU 705 (01/22/2013) MyFico

"Please don't thank me for serving, I want to thank you for letting me serve on your behalf"


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tlp123
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Postby tlp123 » Wed Sep 05, 2012 5:07 pm

Jslimm1985 wrote:Hello all. I'm new to the forums so just to give you a little bit about myself.....

I'm a 26 year old servicemember (Army E-6)
I have 700s+ across the board
My first Amex was the Green (1/2011)
I've since then upgraded to the Gold Regular (2/2012) with pre-approvals for PRG and Platinum.
On average I charge 3-4k on my Gold and pay with no problems.

I'm looking to boost my credit scores just a tad as I am on the market for a new vehicle. I'm looking at staying with Amex simply because I've had nothing but great experiences with them. Any recommendations on revolving AMEXs? Once again, I'm simply looking to bump up my scores by increasing my overall credit limit (16K).

Any insight would be greatly appreciated! ;)


I'm new here too, and there is lots of knowledge and decent friendly members here. I'm certain good advice is forthcoming to you. Sorry, I don't have any to give you.

I responded because I wanted to say, many, many thanks for your service to this country.

I wish you all the best in your military career.

Much pride in my heart out to you, and all those that serve now, and have in the past.
[font=Verdana][/font]“The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools.” — Thucydides[font=Book Antiqua][/font]

DavidNY
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Location: New York

Postby DavidNY » Wed Sep 05, 2012 5:24 pm

As for the car loan, I've been seeing credit unions with very low rates, in the 2% APR neighborhood. No reason you shouldn't get a loan at that rate with your good credit.

Amex is an OK network but sometimes merchants just won't take 'em.


SignHere
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Location: PA, USA

Postby SignHere » Wed Sep 05, 2012 7:37 pm

Jslimm1985 wrote:Hello all. I'm new to the forums so just to give you a little bit about myself.....

I'm a 26 year old servicemember (Army E-6)
I have 700s+ across the board
My first Amex was the Green (1/2011)
I've since then upgraded to the Gold Regular (2/2012) with pre-approvals for PRG and Platinum.
On average I charge 3-4k on my Gold and pay with no problems.

I'm looking to boost my credit scores just a tad as I am on the market for a new vehicle. I'm looking at staying with Amex simply because I've had nothing but great experiences with them. Any recommendations on revolving AMEXs? Once again, I'm simply looking to bump up my scores by increasing my overall credit limit (16K).

Any insight would be greatly appreciated! ;)


You should be okay to app for a blue cash everyday. You're situation sounds similar to mine (other than occupation but thank for for all that you do for our great country!). I charge about 2.5-3k through my amex charge cards and I app'd for BCE, got a 7.5k limit which is a great initial CL. As long as your reports are squeaky clean and you have good history, you should have no problems getting approved with a decent CL. Than, you can ask for 3x your CL 61 days after you activate.
Amex PR Gold - NPSL (Daily) [8/2012]
Amex Zync - NPSL (Ex-Daily) [10/2010]
Amex BCE - 19.2k [8/2012]
Chase Freedom Visa - 5k [8/2012]
PSECU Visa/PSL - 20k [9/2012]

Jslimm1985
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Posts: 80
Joined: Wed Sep 05, 2012 8:13 am
Location: Fort Dix, NJ

Postby Jslimm1985 » Thu Sep 06, 2012 7:41 am

tlp123 wrote:I'm new here too, and there is lots of knowledge and decent friendly members here. I'm certain good advice is forthcoming to you. Sorry, I don't have any to give you.

I responded because I wanted to say, many, many thanks for your service to this country.

I wish you all the best in your military career.

Much pride in my heart out to you, and all those that serve now, and have in the past.


@tlp123...Well I appreciate the support! I love what I do so I'm more than happy to serve.
Revolvers
Credit Union MC 3/2004 ($6K)
Capital One Platinum 3/2005 ($500) :mad:
Dell Financial Services CC 2/2007 ($2.5K)
USAA Cash Rewards World MC 10/2011 ($9.5K)
AMEX BCE 01/2013 ($10K)

Chargers
AMEX Gold 1/2011(NPSL)

EXP 721 (01/02/2013) Amex
EQU 695 (01/10/2013) PenFed
TU 705 (01/22/2013) MyFico

"Please don't thank me for serving, I want to thank you for letting me serve on your behalf"

Jslimm1985
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Posts: 80
Joined: Wed Sep 05, 2012 8:13 am
Location: Fort Dix, NJ

Postby Jslimm1985 » Thu Sep 06, 2012 7:48 am

SignHere wrote:You should be okay to app for a blue cash everyday. You're situation sounds similar to mine (other than occupation but thank for for all that you do for our great country!). I charge about 2.5-3k through my amex charge cards and I app'd for BCE, got a 7.5k limit which is a great initial CL. As long as your reports are squeaky clean and you have good history, you should have no problems getting approved with a decent CL. Than, you can ask for 3x your CL 61 days after you activate.


Thank You SignHere
Oh wow! 7.5K isnt bad at all for an initial CL. I'm just going to wait for a bit and lower my utilization down below 20% (currently 40%) and I should be good. Thank You. There's a wealth of knowledge here. I'm sad I didn't find out about this site earlier. I could've educated myself YEARS ago! lol
Revolvers
Credit Union MC 3/2004 ($6K)
Capital One Platinum 3/2005 ($500) :mad:
Dell Financial Services CC 2/2007 ($2.5K)
USAA Cash Rewards World MC 10/2011 ($9.5K)
AMEX BCE 01/2013 ($10K)

Chargers
AMEX Gold 1/2011(NPSL)

EXP 721 (01/02/2013) Amex
EQU 695 (01/10/2013) PenFed
TU 705 (01/22/2013) MyFico

"Please don't thank me for serving, I want to thank you for letting me serve on your behalf"

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PlatinumAMEX94
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Location: Denver

Postby PlatinumAMEX94 » Thu Sep 06, 2012 4:44 pm

Jslimm1985 wrote:I have 700s+ across the board


If your credit score is 700+ then you will qualify for the sames rates as someone who is 800+. No need to do anything new/change to your credit. Opening new lines of credit will decrease your average account age, not a good thing.

USAA will give you a great rate, and preapprove you. Don't bother with other financing unless it is 0%.
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

Lifelock member, USAA credit monitoring, Security Freezes E/E/TU, 800+


Jslimm1985
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Posts: 80
Joined: Wed Sep 05, 2012 8:13 am
Location: Fort Dix, NJ

Postby Jslimm1985 » Thu Sep 06, 2012 10:09 pm

PlatinumAMEX94 wrote:If your credit score is 700+ then you will qualify for the sames rates as someone who is 800+. No need to do anything new/change to your credit. Opening new lines of credit will decrease your average account age, not a good thing.

USAA will give you a great rate, and preapprove you. Don't bother with other financing unless it is 0%.


Thank You so much! I've always heard USAA is awesome when it comes to the whole ordeal of looking for a new vehicle. USAA is my primary banking institution so I'll be sure to finance with them as well. Either USAA or my small town credit union which I've had 4-5 loans through with great repayment history.
Revolvers
Credit Union MC 3/2004 ($6K)
Capital One Platinum 3/2005 ($500) :mad:
Dell Financial Services CC 2/2007 ($2.5K)
USAA Cash Rewards World MC 10/2011 ($9.5K)
AMEX BCE 01/2013 ($10K)

Chargers
AMEX Gold 1/2011(NPSL)

EXP 721 (01/02/2013) Amex
EQU 695 (01/10/2013) PenFed
TU 705 (01/22/2013) MyFico

"Please don't thank me for serving, I want to thank you for letting me serve on your behalf"

hematino
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Posts: 339
Joined: Fri May 11, 2012 4:08 pm
Location: Atlantic City, NJ

Postby hematino » Sat Sep 08, 2012 10:56 pm

Blue Cash Everyday and Blue Cash Preferred are good Amex revolvers to generate cash back rewards. Everyday carries no annual fee, and 3% at the grocery store, 2% for gas and department stores, and 1% everywhere else. Preferred has double rewards on groceries and gas/department stores, 6% and 3% respectively, but carries a $75 annual fee. If you shop at the Dix/McGuire commissary for groceries, the prices are already low, and you can earn some serious cashback with either one of these American Express cards.

Pentagon Federal Credit Union has some awesome credit cards and car loan rates, and can be found at http://www.penfed.org. If you are interested in their products, it would be easy for you to join, as you are a member of the military. I'm a member of 4 credit unions and PenFed almost always outperforms the rest in service and products, I highly recommend trying them out. Good luck!
Now she's eyeless.
The snakes she held once
Eat up her hands.

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Socelli
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Location: El Paso, TX

Postby Socelli » Sun Sep 09, 2012 3:35 am

I agree with PlatinumAmex94. USAA is a great bank with multiple loan instruments. Their auto loans rates and financing are among the best in the finance/banking industry. Your credit scores are high enough to get you a great rate. USAA also offers an American Express card to their members that's an actual credit card and not a charge card like your Amex Gold card. I'm like you. I have a Amex Gold card and an Amex Gold Business card but I also carry a USAA Amex card in my wallet. It's good to have the option to pay an Amex charge over time.

Also, thanks for your service. Your sacrifice hasn't gone unnoticed. May you and your family have a blessed life.
Cards:
American Express: Business Platinum-NPSL, Delta SkyMiles Gold-$2K
Chase: Sapphire Preferred-$5K, Southwest Airlines Visa-$3.7K, Freedom-$400
USAA: Platinum MC-$4K, Advantage Rate MC-$4K, Amex-$4K
FBNO: BucksBack Visa-$1K, Amex-$1.7K
GECRB: Walmart Discover-$3,7K
Barclays: Financing Visa-$3.2K, Juniper MC-$1.1K
Capital One: Platinum MC-$1.5K, Platinum MC-$750
CFNA: Firestone-$1.6K
CitiBank: Office Depot Business Card-$1K



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