Comments on: Amex Application

By: fornetti

fornetti — Sun, 31 Aug 2008 08:05:18 +0000

I do not believe this

By: Progress on improving my credit score and developing a credit history.

Progress on improving my credit score and developing a credit history. — Sun, 02 Mar 2008 23:42:00 +0000

[...] I apply for an Amex card in hopes of starting a credit history. [...]

By: Amex Won’t Give Me a Credit Card — Ideas on What to Do Next?

Amex Won’t Give Me a Credit Card — Ideas on What to Do Next? — Wed, 13 Feb 2008 20:00:46 +0000

[...] I applied to Amex. They basically said “Sorry, we have no clue about you at all. No [...]

By: Aryn

Aryn — Mon, 04 Feb 2008 17:51:08 +0000

If Amex turns you down, you have two options: have yourself added as a secondary owner on one of Micah’s cards. Not a secondary user, but a co-owner. You can also apply for a store credit card. My first credit card was from Nordstrom for $300. I used it maybe three times to buy nylons, but it was enough to get me a credit history so I could move on to real credit cards.

By: deepali

deepali — Mon, 04 Feb 2008 16:29:00 +0000

I’m assuming you went with Amex? Good choice – definitely the best customer service. I think they are one of the double-billing companies, but you don’t have to worry about that if you’re paying off the balance immediately. You can set up the auto payment through your cell phone company (I think), and Amex might also have an auto=payment option as well (I can’t remember, and I can’t check as mine has no balance).

As for the waiting – hopefully it all works out. Good luck!

By: Your Sister

Your Sister — Mon, 04 Feb 2008 05:52:25 +0000

Well, Big Sis, I’d have to say that it was a combo of both. Mom’s stories about the problems with debt and Dad’s about customer service. Very frightening.

Anyway, getting in while a student was great for me since they don’t expect you to have a credit history–and since you can get one with no co-signer!

By: Meg from The Bargain Queens & All About Appearances

Meg from The Bargain Queens & All About Appearances — Sun, 03 Feb 2008 20:57:19 +0000

I couldn’t believe how hard it was to get credit when I first started trying. I didn’t want anyone to sign for me, not even my husband, and I couldn’t get so much as a Walmart credit card (not the pre-paid kind, of course).

When I investigated supposed ways to build credit without having a credit card, most turned out to not be useful — they only would only report something if I did something wong.

I wanted to establish credit, though, because we wanted to get a house and my lack of credit was making it harder for us to get both names on the mortgage without the interest rate going up.

Finally, my husband put me on the car loan when he turned it from a lease to a buy. Then all of a sudden I was getting pre-approved offers.

I haven’t check the specific number recently, but supposedly my credit score is pretty fab.

By: Dad

Dad — Sun, 03 Feb 2008 18:15:28 +0000

From what I understand, your credit score (FICA) is lower if you don’t have ‘enough’ cards. My score is high enough anyway so I don’t worry about it. But having open accounts for which you cut up the card can help a bit. I doubt that it makes a big difference and I wouldn’t add cards just for that.

By: mrsmicah

mrsmicah — Sun, 03 Feb 2008 14:37:32 +0000

Lil sis, were you more scared by mom and dad’s big credit card debt that they were paying off when we were kids or by dad’s stories from customer service?

By: RacerX

RacerX — Sun, 03 Feb 2008 10:00:27 +0000

Rayn,

Just to be clear you don’t get hurt for closing the account. You get hit for either worsening your debt to credit ratio, by losing a type of credit (as they are looking for a mix) or by hurting your time with a single credit provider, as it is the longer the better.

As long as you are covering those bases, go ahead and cancel. If not, chop it up and leave the account open, as long as there is no annual fee.