- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Credit Card Advice Needed
Posted on 3/30/10 at 11:07 pm to TheHiddenFlask
Posted on 3/30/10 at 11:07 pm to TheHiddenFlask
quote:
For this, I would suggest an AMEX charge card. No spending limit, but it must be paid off every month. You can normally get the fee waived on the gold card for the first year, but if you are ballin' enough to afford a 300k remodel, you should probably already have an AMEX platinum card.
This is not true. There isn't a PRESET spending limit. There's still a limit. For you, being a 20 year old, most likely in college and without a full-time job, you would probably not be able to put down $15,000 on a car with that card. In fact a few weeks after I got my gold card as a 22-year old, I bought a laptop on it and American Express froze my account to do a financial review. So if this guy gets approved for the card then starts dropping thousands per month on it for home improvements, I am sure they will do the same thing to him since won't have an established credit history with American Express.
1
Posted on 3/30/10 at 11:25 pm to OFWHAP
quote:
This is not true. There isn't a PRESET spending limit. There's still a limit. For you, being a 20 year old, most likely in college and without a full-time job, you would probably not be able to put down $15,000 on a car with that card. In fact a few weeks after I got my gold card as a 22-year old, I bought a laptop on it and American Express froze my account to do a financial review. So if this guy gets approved for the card then starts dropping thousands per month on it for home improvements, I am sure they will do the same thing to him since won't have an established credit history with American Express.
Similar thing happened to me, but it was just a call to verify that it wasn't fraud and that I actually had the money to make the payments. Once I confirmed what was going on, they thanked me for my confirmation and let me go on my way.
I'm sure that AMEX won't want to miss out on 300k worth of commissions.
Posted on 3/30/10 at 11:46 pm to TheHiddenFlask
Well AMEX actually froze my account, and I had to fax them W-2s and bank accounts. For them to unfreeze my account immediately I had to wire them the due balance. It was really aggravating now that I think of it.
Posted on 3/31/10 at 12:18 am to OFWHAP
quote:
Well AMEX actually froze my account, and I had to fax them W-2s and bank accounts. For them to unfreeze my account immediately I had to wire them the due balance. It was really aggravating now that I think of it.
That's pretty lame. I would have never gone back to them had they done that.
Maybe the OP should consider getting a backup card in case something happens. I always keep at least 3
Amex - Great rewards
Visa - In case someone doesn't take Amex
Mastercard - They really suck, so they only get my online purchasing activity. I keep a low limit on it and use it sparingly enough that a credit card thief will immediately set off the alarms. This actually just happened to me and it made the cleanup really easy.
Posted on 3/31/10 at 11:54 am to TheHiddenFlask
quote:
That's pretty lame. I would have never gone back to them had they done that.
Maybe the OP should consider getting a backup card in case something happens. I always keep at least 3
Amex - Great rewards
Visa - In case someone doesn't take Amex
Mastercard - They really suck, so they only get my online purchasing activity. I keep a low limit on it and use it sparingly enough that a credit card thief will immediately set off the alarms. This actually just happened to me and it made the cleanup really easy.
It's a bad idea to have three credit cards. However if you only use one of them on a regular basis I guess you're okay. Having more than one or two looks bad on your credit score. I've also heard that it negatively affects your score if you go above half your credit limit.
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News