I have received a pre-approved offer for the American Express charge card that you have to pay off every month. I have been working on my credit for a year, no derogs, just new credit, with Providian and Direct Merchants. I received a pre-approved Sears and accepted it last month, and now wonder if I should accept the Amex? I would rather have a revolving account with them. Would it work to call and ask for a blue instead? Is it worth the $55 membership fee when I don't anticipate using the card much? Will this card on my credit report attract more prime offers? I don't know what to do about this offer. What are the benefits of having it?
RE: amex is good. But the blue is much harder to get than the green card. If you want a great card, check out the citibank AA (search down), They are lenient on new creditors, more so than amex, and alot of folks have been able to get down at around 12.4% after a few months. My gf got one after having credit (cap 1 secured+macy's) for 6 months. instant approval.
RE: amex is good. I agree that blue is harder to aquire than the green card, but from what I have seen Amex doesn't send these offers by the truckload like other companies, you probably have a good shot at it. But I would choose Amex over the Citibank AA series anyday.
RE: Should I accept pre-approv greyfox wrote: "I would rather have a revolving account with them." I also prefer their credit cards to the charge cards, but it mainly depends on personal taste and purchase patterns. I was told by their New Accounts dept that if you have a perfect pay history on their charge card for 6 months, you'd qualify for the Blue or the Optima Platinum. "What are the benefits of having it?" Check here: http://www25.americanexpress.com/cards/Fmacfservlet?9/20/b/3/0/044170856948/20/n "Will this card on my credit report attract more prime offers?" Well first, it would certainly help negotiating terms with your other creditors. And second, it would put a "O1" (not R1) tradeline on your credit report. This shows a better mixture of credit types, since it's a pay-in-full credit line. Saar
RE: Should I accept pre-approv I talked to an Amex rep a couple of weeks ago to inquire about getting the green card. For that one, they require you to have another revolving account open for at least a year and a second one open for at least 6 months. For the revolving one, he said the requirements were a little more strict, I think you have to have a 2 year old account history with one of your ohter cards. But I'm not sure if they only require these if your credit is questionable or if they require it for all applicants. You could always call and ask and describe your situation to them. If you want to apply over the phone and you don't get approved for the blue you could always tell the rep you'll take the green. Then they only have to pull your credit once.
RE: Should I accept pre-approv I received a pre-approved Amex offer in summer 99. I had zero credit before Dec 97. I responded to the offer and received the Green card. I used the card mostly for gas purchases (about $100 per month). In April 2000 I successfully responded to a preapproved Gold offer. Then in summer 2000, I successfully responded to a preapproved Blue offer. I received a generous credit line and a 0% intro rate for 6 months, then 9.99% fixed APR. The point to remember though is that I had no credit before Dec 97! Pretty cool, huh?
