Hi everyone. I just joined here, I have a few questions about AMEX. I was just approved for their Amex Blue Rewards card. I'm a 20 year old college student just trying to build his credit. I have two other credit cards a Visa through my credit union, and a Discover Student card, I always PIF or significantly more than the minimum payment. What kind of spending does AMEX like to see? I've heard of people who love AMEX and people who hate AMEX, what has your experience been? Is AMEX still doing F/R and random CLDs? What is the best way to use this card to maximize my credit/benefits, and keep AMEX happy? Any other suggestions?

Welcome to the forum. From what I understand, Amex does not like to see high utilization with all of your creditors (like all other credit card companies, they get updated credit scores and other information on a monthly or quarterlty basis). Keep your balances under 30% of your limits and don't go on mad application sprees and you should be fine. By being approved recently (after the economy tanked in 2008 and the CARD Act) you have already been given a vote of confidence by them.

Hi everyone. I just joined here, I have a few questions about AMEX. I was just approved for their Amex Blue Rewards card. I'm a 20 year old college student just trying to build his credit. I have two other credit cards a Visa through my credit union, and a Discover Student card, I always PIF or significantly more than the minimum payment. What kind of spending does AMEX like to see? I've heard of people who love AMEX and people who hate AMEX, what has your experience been? Is AMEX still doing F/R and random CLDs? What is the best way to use this card to maximize my credit/benefits, and keep AMEX happy? Any other suggestions?

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It depends on what you are looking for. Each cruise line offers different levels of rewards. Just glancing at both, I would say the Royal Carribbean Visa because it is issued by FIA Card Services (Bank of America) as opposed to the Barclay's Bank Delaware issued Carnival Cruise Lines MasterCard.

which is the better card carnival mc or royal carribean visa

Thanks ColoNative and hjm331!

My cousins and I are planning to go back to Universal anytime soon...

I might be tempted again... but after all your advises, I'm pretty sure I will be able to say "no" when they approach me again.

Exactly what i am realizing. i have 1 or 2 too many cards, that i dont need. trying to cut down to just 3 cards. trying to decide which ones to close though. my only mistake in re-building has been way too many apps and inquaries. my scores would be a lot higher if not for all of the apps. i just have to restrain myself, it is not easy.

Not easy at all. Good luck Kforbes.

Exactly what i am realizing. i have 1 or 2 too many cards, that i dont need. trying to cut down to just 3 cards. trying to decide which ones to close though. my only mistake in re-building has been way too many apps and inquaries. my scores would be a lot higher if not for all of the apps. i just have to restrain myself, it is not easy.

ColoNative hit it right on the nose. GEMB being a subprime lender, you can't expect much from the card or from them. You did the right thing but refusing the offer to apply and don't look back.

Keep the cards you recently obtained and let them age. Don't apply for credit you don't need, it's a rookie mistake. You will eventually realize that you have one too many credit cards that you don't need and will have to use them once a month or every two months to keep them active. To me, that's a hassle.

I went to Universal Studios today, and one of the representatives approached me and asked

The Universal Amex is issued by GEMB (also issues the Dillard's Amex) so their standards might not be as stringent as Amex's own would be.

You made a smart choice by passing. The APR's on the Universal Amex cards are obscene and the rewards are not that great. You are better off with a reward card that offers airfare discounts or cash back.

I went to Universal Studios today, and one of the representatives approached me and asked: "Do you want a FREE Universal Studios bag?"

That caught my attention, and ended up hearing the explanation on how to get the free bag...

She was telling me that if I applied for the Universal Studios AMEX on that day, whether I get approved or denied, I would still get the bag, plus they're also throwing in discounts for the "All-You-Can-Eat" Pass...

Sounds tempting....

But I passed the offer...

Thinking, is the free bag and discounts worth a hard inquiry/credit check? Considering I have applied to 4 different credit cards 3 months ago?

And isn't it AMEX cards would require an excellent credit rating to qualify? I dont think I'm there yet.... I'm barely trying to build my credit history...

But if someone will tell me that it would be worth it, and the chances of getting approved is high... Then I just might reconsider...

What do you think? :

Tough question actually. Looks like you are rebuilding, so how old are all of these accounts? You don't want to close out your oldest trades.

It goes without saying that you should keep the Wells Fargo card and I agree with Joeyman, the WFNNB card should go.

HSBC and GEMB are not the worst of the worst by any means, but neither is going to grow with you. HSBC does have prime cards but it sounds like you have one of their rebuilders. That particular card you have will probably top out at a $2K limit-if that.

My suggestion is to close the WFNNB (if it isnt your oldest trade) and leave everything else alone until you hit the 700 club. And whatever you do, do not open any new credit. Even though your loan is an installment and it will help you in the long run, it has changed your overall debt to credit ratio. So once the loan is paid down or paid completely off then I would suggest applying for a Visa or MasterCard from another large bank, like US Bank, BofA, Chase or Citibank. You could also take a page from Joeyman and apply for a credit union credit card.

Another suggestion: use your Wells Fargo card often and keep the balance under $300 (find out how many online payments you can make in a billing cycle so that you can free up additional credit by making payments). These days the banks want to justify why you need a higher limit. If you use the account heavily they can justify a higher limit.

Okay, i know this is really a no brainer question, but here goes. i want to stop openinf new accounts and grow with three or 4 cards. which ones would be good ones to keep that will grow with me, and which should i close and replace with another one? here is what i have open right now.

ge money mastercard $750 limit.
wells fargo platinum visa $750 limit
hooters mastercard $300 limit
hsbc mastercard $750 limit
wfnnb store card $400 limit
and a personal loan i just got at my bank.

i am wanting to close 1 or maybe 2 cards and just let the rest age.
my scores right now are all in the 620's, no one will budge beyond $750 for credit limit since the wells fargo card unsecured to the $750, my other cards raised limits to match it, but will not budge beyond that.

i would appreciate anyones input. thanks

I would keep the Wells Fargo card for sure. And I'd close the store card. You really only need 1-3 credit cards at most anyway.

Okay, i know this is really a no brainer question, but here goes. i want to stop openinf new accounts and grow with three or 4 cards. which ones would be good ones to keep that will grow with me, and which should i close and replace with another one? here is what i have open right now.

ge money mastercard $750 limit.
wells fargo platinum visa $750 limit
hooters mastercard $300 limit
hsbc mastercard $750 limit
wfnnb store card $400 limit
and a personal loan i just got at my bank.

i am wanting to close 1 or maybe 2 cards and just let the rest age.
my scores right now are all in the 620's, no one will budge beyond $750 for credit limit since the wells fargo card unsecured to the $750, my other cards raised limits to match it, but will not budge beyond that.

i would appreciate anyones input. thanks

My HSBC "the Local Bank" American Express Rewards Plus Card (1.25 points for every dollar spent) with $10K CL now is 7.99% purchases and 19.24% cash. They just offered me an online balance transfer at 3.99%. Not bad in these times. Note, they beefed the card up with real access to real American Express opportunites at AX website. For those non-believers these bank issued AX Cards may be equal to or better than what AX has available. I am an old AX Cardholder user both the charge card (AX Platinum $450 annual fee) and the credit card (Centurion $17K CL) and my take on the card I have today is great. I am NOT interested in playing games with AX. To each his own...

Congrats on your personal loan!