I am closing this account. Any opinions? I have had the card since May. I hardly ever use it b/c I only put $200 on it. I dont think Amex will ever unsecure it. I called and asked about my credit etc. The lady was not that understanding. She was nice and all but she left me with the impression it would stay unsecured for a long time. What happened to the 12 months of history and we'll unsecure it. They just said that I could reapply for a green card. I aint gonna get that. roni
It's just my opinion but as a former AMEX gold card holder, I believe that one can get an AMEX green or higher card only under two circumstances. 1. The easy way. Be a new college graduate from an acceptable school (or about ready to graduate) and AE will solicit you. 2. Have a credit profile in the top 5% of the public.
RE: It's just my opinion but Seems like your $200 could be paying off some other bills. next month, i get my $99 back from cap 1
I think I'm going to keep using my card. I only have $500 deposited to the account, but seem to use it frequently. I can make smaller charges on other cards that are reported and use this one for other stuff -- not really worry about how high the balance is as long as it is paid on time and does not exceed the limit (I say this only because it is not reported to the bureaus). I've had my card since October 00.
RE: It's just my opinion but I just cut up the card. I am sending them a check tomorrow and closing it by Friday. roni
i also had mine since may 99 and its still secured. i also allied for the green and got denied and I was hoping that I would eventually recieve a solicitation in the mail to no avail...Ill probably keep it.. I really have not made up my mind yet.. Mike mt wrote: ------------------------------- I think I'm going to keep using my card. I only have $500 deposited to the account, but seem to use it frequently. I can make smaller charges on other cards that are reported and use this one for other stuff -- not really worry about how high the balance is as long as it is paid on time and does not exceed the limit (I say this only because it is not reported to the bureaus). I've had my card since October 00.
RE: AMEX Whats the point of a $500 or $200 card if you have better? Its a nightmare to manage. I am paying off my cap 1 secured ($800 + $300 limits) , unsecuring it, folding the balance into my cap 1 gold card $500 next month. The rep said that will be fine, then I can negotiate APR/fees/etc. They are much more strict on the secured plan than the non. The aria card i had was useless. Utterly. $250 limit? thats great but who wants to have to think about limits everytime i make a charge. i truly enjoy the Citibank platinum (no fee). It gives me the freedom to charge whatever the heck i want, and not have to worry about "over the limit" or this and that or the embarassing "DECLINE". Unless amex comes up with a plan, like after XX months you'll get your deposit back, i'd stay away from it, They don't seem to give their second-chance members the benefit that other creditors do. After having my cap 1 for 10 months, i got an unsecured gold, then at 12 months, I will close the secured account. Thank you for the opportunity to prove myself, cap 1. I completed the program with nearly max line possible in 12 months.. I have what i need. Makes sense? no.
RE: AMEX I agree with you Sam. The brochure said that they would consider you for a unsecured card after 12 months. But that is not really the case. Unless you have perfect credit or negotiate like dogman, they wont give me a card. Oh well. I aint got the card anymore any way. roni
RE: AMEX no biggie, in a few years, when everything is clear, you will have a normal, gold, or maybe even platinum i'm sure not having the card won't cramp your style, nor lose any dates hehe
RE: It's just my opinion but I have had the card since Oct 2000. I initially deposited $200 and have been depositing money ever since. My idea is to deposit $200 every month until the one year mark. I should have about $3500 by then and I will unsecure it or keep depositing until I buy a new car. I am using it as a savings account for my car fund and hopefully building a solid relationship with Amex. I think this is a good idea because it is very hard to access the money in this account so it's safe. I also have another account with another bank that I will use for emergencies.
RE: whats the apr on their sav Just curious. i know a lot of online banks are 6% APR on savings accounts..
Sam I was thinking the same thing. I was considering Lighthousebank. What you know about them. Any other suggestions. I think the AMEX is 3% roni
RE: Sam i know they declined me chex+credit. i use netbank (free but low apr 3.x % checking), and wingspanbank (not so free any more). fidelity national savings locally here advertises 6%, your better off on a money market i believe. i dont have any spare nickels right now or i'd investigate it more bleh. sorry i cant help there.
You're right Roni,maybe I just close it out. I don't use the card that oven.Besides,most of the places I buy stuffs doesn't accept it.I mostly used my bofa card rather than others it's the lowest apr on all of my cards.Surely,I will miss the secured optima cuz it the best looking card in my wallet.
I had the card for 3 and 1/2 years used it all the time pay off in full and sometimes revolve a balance. To no response. Applied for the regular card several times and got the usual decline, and my credit is pritty good good cards from alot of places, just to many inq.. Someone on this board said that if you get declined you could call critorion bank and have it over turned
