Amex preapproval, what should

Discussion in 'Credit Talk' started by Sorin, Feb 16, 2001.

  1. Sorin

    Sorin Well-Known Member

    Hi all

    I've just received a preapproval for Amex green. Now, I'm not sure if I should take it.
    My heart wants to go for it, I've always wanted an Amex card, but my head says it's of no use.

    So, please give me some reasons why I should go for it. I know about the no limit stuff (which isn't exactly no limit), but I have lines large enough on other cards that I cannot pay back every month if I use them entirely. Plus there is the $55 fee...

    So what are the pros of this card? I was planning to go for a Blue later on. Is it worth taking the green now, or should I wait?

    Any help is appreciated...
  2. sam

    sam Well-Known Member

    RE: status symbol.

    Looks great on your credit reports, and of course, is a status symbol.
  3. Sorin

    Sorin Well-Known Member

    RE: status symbol.

    Do you really think it's that good for your credit report? Or it's just another line like everything else?

    And BTW, can you have both a charge card and a revolving one from Amex at the same time?
  4. JacquiG

    JacquiG Well-Known Member

    RE: Yes

    I have Green and Blue, and others here also have more than one card.
  5. Cadillac408

    Cadillac408 Well-Known Member

    Just Go For It!

    One of the reasons why I like Am/Ex is because of their customer service. Yes it is a status symbol thing also. The best part is when I want to buy concert tickets but won't have the money for a couple of weeks. I just use Am/Ex and then send the money when I get it. Sure I can use my Visa, etc. but I don't want to be tempted to only pay a partial of the balance instead of in full. I have found that I am gradually climbing out of debt since I started using Am/Ex. It forces you to be more responsible with your spending (since you have to pay in full every month). I love this card so much! Plus you know what they say? If it aint American aint s*&%!
  6. Darrell

    Darrell Guest

    RE: Just Go For It!

    Why not treat your current cards like an American Express and pay your balance in full each month? The interest rate on a card that has a grace period doesn't matter if you never carry a balance.

    An Amex tradeline on your credit report MIGHT encourage other firms to make you offers of credit, but the credit-granting decision still will be based on your overall profile and score.

    The question you really have to answer is whether the benefits you derive from Amex membership will save you $55 a year.

    If the answer is no, then save your money.
  7. Cadillac408

    Cadillac408 Well-Known Member

    RE: Just Go For It!

    Anyone that wants to go over the benifits of having an Am/Ex card can go to either their web site: or go to: and view opinions of others.

    Like I stated, I personally have a problem treating my other cards like an Am/Ex card and pay them in full. For me, it's hard to do this seeing the minimun on my Visa is $20! There is nothing motivating me to pay the balance in full....knowing myself, I'll take the money and funk it off on b.s. I'm just being may work for others but not me personally. I like to shop too much! :)

    So, bottom line...TO's worth the $35/yr (that's the fee for authorized users on Gold accounts) to stay my butt out of trouble!
  8. Sorin

    Sorin Well-Known Member

    RE: Just Go For It!

    You're right about paying in full each month, that's what I do with my Discover Platinum, I try to charge as much of my current expenses as I can on it and pay it off every month. I bet they're mad about it, especially when they'll have to spit out $200+ in cashback, with no profit from me :)))

    So, I guess the benefits of Amex green are not that great... to compensate for $55 annual fee...
  9. Cadillac408

    Cadillac408 Well-Known Member

    RE: Just Go For It!

    Am/Ex has the Platinum cash rebate card w/ no anual fee????!!!!! Do the comparison...

    My whole thing is that in my area, Am/Ex is more widely accepted than Discover. YMMV.
  10. Sorin

    Sorin Well-Known Member

    I have a pretty good idea now.

    I think I have a pretty good idea now... from a logical point of view there's no reason for accepting this card. The only thing that appeals to me is the status symbol thing, and the fact that I've always wanted an Amex... and I would be willing to pay $55 for that.

    So the question now is: do you think I'll be eligible for a Blue in the near future (next 3-4 months)? If yes, then I'll hold, otherwise i'll go for this offer.

    My credit is perfect, but short (about 17 months old, with the oldest open account about 13 months). I've heard that for Blue you need 24 months of history...

    The fact is I don't need any more credit now. I have enough and the temptation to get into trouble is too great :)) I wanted an Amex to replace my Associates Visa, and sort of like the last obstacle to overcome...
  11. Sorin

    Sorin Well-Known Member

    RE: Just Go For It!

    You're right, I think Amex has a small edge over Discover in terms of acceptance, but not enough to matter here, in the states. The story is completely different in Europe (where my parents are), Discover is practically unknown there, Amex is quite popular...

    About the Platinum cash rebate, I know about it... but unfortunately, my offer was for a Green... if it was for Platinum cash rebate, my application would have been in the mail already...:))
  12. sam

    sam Well-Known Member

    RE: the same

    The benefits of the green card, really don't outweigh equally easy to get platinum cards with no fee's.

    But again, it looks good to have one.
  13. Jim S.

    Jim S. Guest

    I say get the AMEX green

    Reasons to have AMEX:
    1. No pre-set spending limit

    You might be thinking what could I do with this. You never have to worry about over the limit fees. This is also very helpful while traveling. I have ran into cases where a lot of authorizations (ie car rentals, plane tickets, hotel, etc.) had to be put on a credit card only to be removed or lowered later. While I didn't have to pay since they were removed or lowered, an authorization blocks that much of my credit limit from being used elsewhere. With AMEX I don't have to worry about this.

    2. Rewards Program

    Membership rewards is an extra $40 per year, but worth it. AMEX has the best rewards program I have ever seen. Every charge earns you points. These points can be used for airline tickets, hotel, etc. This has really saved me money on airline tickets which I usually use it on. I can easily say that the rewards program has saved me more than $95 a year.

    3. Status Symbol

    This has already been covered, but having an AMEX looks good.

    4. Customer Service

    AMEX has the best customer service I have seen.

    5. Upgrading to higher cards

    This is one I am not entirely sure about, but I think it is probably true. The green card is only so good, but take a look at the gold and platinum (charge) cards. While they cost more, the benefits are very useful if you know that you will use them. I am going to get am AMEX gold sometime this year. I can't help but think having a green will help.
  14. Sister Gir

    Sister Gir Guest

    RE: I say get the AMEX green

    I've carried the Amex Green card because it is a good value for me.I love membership rewards,free internet,buyer protection,etc. Many people want the higher status card,& that is FINE(but for me,this works just like it was a Gold/Platinum card....minus higher annual fee).

    My account averages about $500 -$700 per month....NEVER had a charge declined).

    Sister Girl
  15. GEORGE

    GEORGE Well-Known Member

    RE: I say get the AMEX green

    The DOWN SIDE is that, if you for two years charge up to $700/month (the computor remembers charge history) and one day you need to charge $7,000 it will be DENIED unless you PRE-NOTIFY AMEX...

    Check into AMEX BLUE, no annual fee, blue loot, PRISTIGE of AMEX, you have a credit limit that is known, so if your credit limit is $10,000, you would have no problems
    charging $7,000...
  16. dogman

    dogman Well-Known Member

    OK - My Comments on AMEX

    Just got back from Hawaii. Needed internet access - called AMEX future spending option and punched in $2K in the next 2 weeks.

    Went to Office Depot - bought a Toshiba laptop for $1300. Took it home - did not
    need it after I called Hilton and they would arrange for me to have a PC in the room.

    I drove back to the store - returned it the next day - AMEX was credited immediately.
    Many of you can do the same thing with Visa - but - with Visa - I would have to watch that whatever PC I wanted would clear the credit lines.

    AMEX removes all of these obstacles.
    Just get it. AND don't get near any Associates Product!

    cya dogman
  17. Cadillac408

    Cadillac408 Well-Known Member

    RE: OK - My Comments on AMEX

    Nice story Dogman! Hope you had a nice time in hawaii. I plan on returning there in April.

    I also must agree...stay away from Associate's products. I was so disappointed with my Washington Mutual secured card. They just didn't have a clue when my card got stolen. They were the only card that I had the biggest hassle with. I reported my card stolen twice (by myself and Am/Ex) and they were STILL calling me regarding activity on my account. I would return their phone calls and it was like they had NO CLUE that my card was stolen! Customer service SUCKED! Long story short....I paid them in full and got my deposit back minus a small fee for early withdrawl of my security funds. The only good thing I had to say was that the returned my deposit in a very timely fashion (2 weeks).
  18. dogman

    dogman Well-Known Member

    RE: OK - My Comments on AMEX

    Hi MP:) I bank at Wash Mutual and was maybe going to get their card to build WM credit.
    THEN I saw it was issued by Associates.

    Thx for sharing - I just snapped AMEX $1687 for this month.
    Hope all is well friend.

    FYI - Hawaii had 40-50 mile per hour
    tradewinds. It poured, was windy, and I guess I am glad I flew back last night.
    I see it will all hit SF today.

    CYA Dogman
  19. Cadillac408

    Cadillac408 Well-Known Member

    Got You Beat Dogman!

    I just snapped Am/Ex $1707 for this month! Man was I crying as I paid them on-line last night! ;-( Oh was well worth it and I am glad that they didn't pull no b.s. when I was charging up a storm!

    I've been waiting for this so called storm down here in the south bay. Guess I will be leaving my Caddy parked under the car port for the rest if the weekend seeing that I just got it washed Thursday like a dummy! Luckily I have my scoot-a-round Honda to drive.

    Hope all is well w/ you too!

  20. dogman

    dogman Well-Known Member

    RE: Got You Beat Dogman!

    it credits quickly also - I did it today - it zapped the bank immediately. :)

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