SPG American Express Card

Discussion in 'General Discussion | Credit Cards' started by HappyJim, Aug 21, 2012.  |  Print Topic

  1. HappyJim

    HappyJim Member

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    I like the features of the SPG American Express card, which many of you probably already know:

    https://www262.americanexpress.com/apisites/microsite/landingpage/95-1000-126

    The above links says 'Limited Time Offer' and says the offer expires on September 4, 2012.

    I've been reading old threads and it seems like this card has been around for a while. Is it really disappearing on September 4, or is that likely a sales trick to entice people to apply now? Are they likely to renew this offer?

    The reason I ask is I'd like to clean up an issue with my Credit Report and then apply after that. But I don't want to wait if the offer will disappear forever. BTW, does anyone know which Credit Agency they use for this card?
     
  2. merice107

    merice107 Silver Member

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    I believe it is the 30,000 points sign up bonus offer that expires on the 4th. Then it will go back to the standard 25,000 point sign up bonus. That is at least my understanding of it.
     
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  3. sicemdawgs

    sicemdawgs Silver Member

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    The 30,000 point offer is expiring on Sept. 4th, not the card itself.
     
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  4. deant
    Original Member

    deant Milepoint Guide

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    The card will not go away. As others have said, the bonus will be reduced to the standard 25K after the 4th of Sept. The 30K offer normally comes about once a year. It is probably worth taking the chance and applying now for the card in the hope of getting the 30K bonus. If you are denied, you can always apply later.
     
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  5. edekba

    edekba Gold Member

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    Well technically we do not know if it will be reduced to the "stnd" 25k afterwards. Wasnt the previous 25k's (like 2 yrs ago) spend req a lot higher?
     
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  6. booyaa
    Original Member

    booyaa Silver Member

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    There were plenty of "issues" on my credit report before I did my AOR today. All of them minor like my authorized users account showing up on my report, some accounts not reported to certain bureaus, transferred accounts showing incorrectly, closed accounts disappearing then showing back up, etc. Non of the 3 bureaus have everything right. I didn't have time to fix all those and forgot. Still went ahead with my scheduled churn anyway, scores were still decent too. No problemo!

    So if your issues are all minor, I'd say go for it.

    Which bureau Amex uses will depend on where you are geographically, but for most, it's Experian
     
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  7. Slow_Mustang
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    Slow_Mustang Silver Member

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    Jim, If you let someone here refer you for the SPG card, then he/she will get 5000 starwood points for the referral, and you will get your 30K per the promotion.
     
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  8. HappyJim

    HappyJim Member

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    If I know about the referral bonus, I would have tried, but no luck anyway. I applied and was rejected. Amex SPG uses Experian, and my Experian credit was 745, so I thought I was okay. But my FICO score was 650. I didn't think they could be so different.

    Basically, they complained that my proportion of revolving credit to available credit was too high. I don't understand that. I have only one other credit card and I paid off the balance 10 days ago. How is this calculated? Do they use the maximum for the month? That would have been about 110 percent of the maximum for the card.

    I also had an 8-year old State Tax lien on the report, which they didn't like. I paid that one off in full more than 8 years ago, but it still remains on the report. I should probably appeal it.
     
  9. RPG

    RPG Active Member

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    Normally for good score your credit usage should be less than 30% of the total credit. For example if your credit card has $6000 credit limit, if you use less than $2000/ billing cycle and pay off each month then you have less proportion of revolving credit to available credit (this increases your credit score). If you are using $4000-$5500/ billing cycle then proportion is too high.
     
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  10. edekba

    edekba Gold Member

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    So if we use $4000 a month we should get more lines of credit. But because we do they don't grant us more even though we pay out debt in full. A dang catch 22
     
  11. RPG

    RPG Active Member

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    Yes. We can split our spending in other cards and maintain <30% usage to increase credit score. Just my understanding and knowledge.
     
  12. deant
    Original Member

    deant Milepoint Guide

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    One thing is that I believe each bank reports the balance at the time of billing. So just because you paid off a card 10 days prior, does not mean that it would be seen by the bank. Also, one trick you might use to help get your utilization down is to pay off the credit card just prior to the closing date. This will get your utilization to under 10% which is a good thing. I try to keep mine at about 5% ( I think that also helps to keep the bank happy when I have large AP charges and pay them off rapidly - they don't see me as a high risk).

    As for the state tax lien, definitely try and appeal the notation. No bank wants to see such a negative on a report.

    Before you apply for any other credit cards, make sure all three of your credit reports are correct.
     
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  13. HappyJim

    HappyJim Member

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    Yes, I paid off the card 10 days ago, but it didn't show on my Experian report.

    I don't understand how my credit score from each of the three agencies is 750, while Amex said my FICO score was 650. Does anyone have a good number to call at Amex where I can try to sweet-talk them? The number I called went to some offshore location and that person obviously had no authority. I did this with Chase a week ago and was successful.

    Also, I disputed the Tax Lien online at Experian, but it only allowed my to state my case in 120 characters or less. I have a document from the state saying I paid the lien in full more than 8 years ago, but I could not fit that into the 120-character protest. Is there a better way of protesting?
     
  14. edekba

    edekba Gold Member

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    Where you get 750? Are you sure that's the same as fico? There are a few different scoring methods. Wikipedia credit score.
     
  15. deant
    Original Member

    deant Milepoint Guide

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  16. tinystarr

    tinystarr Member

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    Amex uses Experian for NY/NJ. Also take a look at their Prepaid Card Promotion - You get $25 for loading $200 on your card - See complete details here - http://bit.ly/QrRe5C
     
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  17. Slow_Mustang
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    Slow_Mustang Silver Member

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    As has been explained above, the amount of the closing statement goes on your record. To keep that number low, I pay off most of my charges on the credit cards about 5 days before the closing date. That brings the charged amount for the month to almost zero, and creates the illusion of available credit being very high and the ratio of proportion of revolving credit to available credit to be what they like to see. So, the bottom line is, try to pay as much of the charged amount as possible 3-4 days before the closing date to look good on paper.
     
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