"Decided To Go For It After Several Offers!!"

Blue Cash Everyday® Card from American Express Review
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Written by: credit28 on 2011-07-01

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credit28's review: Callout Comment Hi all. I have received several offers from AMEX over the course of two years or so. I have never been fond of them. After receiveing offers, to include, AMEX Classic, Gold, Blue Sky, Blue Cash, etc. I've always shredded them all, deciding I wouldn't ever apply with them. Well, this month I received an offer from them for the above mentioned "YES" Blue Cash Everyday (SM) Card. I looked over the offer SEVERAL days before taking the hit, thinking! ( is it worth it?). Especially, having my thoughts in the way they conduct business and reading through forums. So here goes. I applied on 06/26, it originally stated an error message " Application was unable to be processed within 60 seconds, blah, blah, blah. Oh well, shortly thereafter, I received an email from AMEX stating "Your card application has been approved". I shall recieve my card within 7-10 business days. Membership/card info arrived today 06/30. Below are the card membership details as follows:

Blue Cash Everyday (SM) Card.

0% introductory APR for 12/months then standard rate APR of 17.24% applies
Credit Line: $10,000
Annual Fee: None

No rotating and signing up for categories (fixed):

*Earn 3% cash back at supermarkets
*Earn 2% cash back at gas stations and department stores
*Earn 1% cash back on all other eligible purchases

I have yet to activate this card. My thoughts of AMEX are of course, uncertainty. But I am optimistic and slightly overwelmed with the initial approval. I'll use my own personal experience and sound judgment before making any accusations. Afterall, this is a darn good card in comparison to Discover more. I'll definitely give it a shot.

Scores: TU -809 EX -825 (AMEX PULLED) EQ -802


Comment 1 by sethatco
Re: Be Warned User Icon on 2011-07-01

Remarks Be very leery of AMEX I had them for years, corporate cards and personal. I've been tier 1 + plus credit for the past 3 or 4 years. I ended my relationship with them on my anniversary 3 years in on my Amex Platinum card and they asked for copies of my W2s last 4 years and payroll statements. I never understood the appeal of company; given that several companies now issues amex cards with much friendlier customer service and without the games. I have a Pen Fed amex, USAA and Citi bank. Given what Amex charges for the cards and the APR's I see no reason what so ever to do business with them now or in the future. Do not be surprised if down the line they request deeply personal documentation which you would only give to a bank for a mortgage or home equity line of credit. I've found better uses for the $450 annual fee. However Good luck with them, you will need it!
Comment 2 by cfmdev49
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-01

Remarks That interest rate is very high...unless you plan to pif each month I'd put that card in the sock drawer. You may want to contact Amex about getting a better rate.
Comment 3 by bc8787
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-01

Remarks Congrats on the amex! I have had had my Amex for a few months now and I love it! People look at you differently when you had them the card at the register. (in a good way) You get a lot of hotel and airline perks. And the prestige of having an American Express. Not everyone has the credit scores to be worthy of an Amex like you and myself. %17.24 is not a high APR at all. With what people are getting now days, that is a good rate. I hear my family and friends receiving offers from Capital one, Discover, etc. with 23.99-29.99 APR. It is VERY rare to see a 1*.** card APR in this economy.

Question, What are your credit scores? Equifax and Experian?
Comment 4 by sethatco
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-01

Remarks @Bc
No one cares if you carry an American Express card unless it happens to be the onyx aka black card with a $5,000 annual fee; what a joke. 17% is outrageous for a pretty basic Amex card if you have tier 1 or tier 1 + scores. I ditched my platinum card and a very wasteful $450 annual fee. Pen Fed Amex 13.24, USAA Amex 9.9% Citi Amex 10.49% Each of these cards come with the same perks that the so called mother ship cards come with. For all the above mentioned card I have a credit line of 25k or more to each. Amex customer service leaves much to be desired. One of the main reason I ditched Amex was denials. I Called 1 or 2 weeks in advance of overseas travel and still had lots of declines.
Comment 5 by credit28
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-01

Remarks @sethatco
Yes I do whole hardly agree! I will be extremely watchful of any actions. I 've always been leery. It took them 2 years worth of offers up until this point. I have 0 tolerance for non-sense. This card will not be used for big ticket items, i'll go to Citi for that. I'll use the card for it's targeting purpose cashback on-Gas, Groceries etc.

Thanx for the words of encouragement. You are cenrtainly right. Most creditors, ( excluding some credit unions) are offering non tier 1 APR's with my lowest being 7.24%, and highest at 15.99%. Before the existense of Blue Cash Everyday 17.24% which is their standard and lowest APR for the card.


TU -809
EQ -802
Comment 6 by wanderer
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-02

Remarks Congrats on your AX with a high CL. Your FICOS are great! As to aprs, AX tends to run higher than most Visa and Mastercard Cards today. Truth, in the past from about 1972 to the late 1990's the average apr was similar in rate as today.
Comment 7 by kdb030609
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-02

Remarks Congratulations on AMEX !!! Nice limit and scores! I don't think you have to worry anymore with AMEX! Than you do with any other bank out there. We should all be wary of all banks. They all have a tendency to do things that don't make sense sometimes.
Looks like you've taken great care of your credit by how high your scores are!
Comment 8 by credit28
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-02

Remarks @Wanderer and Kdb030609

Thanx guys for your positive thoughts.
Comment 9 by joeyman
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-03

Remarks My experience with American Express has been great! I especially like the online management tools, customer support (both phone & email), rewards, the distinction between my card and a normal visa, fast online payments, the standard features with each card, and the high spending ability.

I found 2+ years ago members were sharing sobbing stories about how Amex was cutting their credit limits. Nowadays it seems those cuts are inexistent; or at least, I haven't heard any lately. At the same time, most people probably deserved the cut, judging by how many bankruptcies and foreclosures the U.S. is processing. I bet most of the stories left out embarrassing facts that Amex uses to decide cuts. I think it just proves how much of a better company they are, doing what's right for the business.

PS. My credit union visa rate is 7.99%, but my Blue Cash is 17.24% and it is used the most.
Comment 10 by d98lakefan
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-03

Remarks I would highly advise chase cards they have been nothing but good to me. especially there airline mile cards
Comment 11 by thomas1
Re: Decided To Go For It After Several Offers!! User Icon on 2011-07-22

Remarks I agree with Sethaco on many counts here. I had personal Amex Gold back in late 80's, and closed it in 2000 because of their ****crap. It's no secret about my feelings about them. I'm self employed for over 20 years, family business, and we won't take Amex because of their uppity, ridiculous merchant fees and requirements for merchanship. I have several Amex co-branded cards by other issuers with great CL's, that treat me very well and appreciate my business without all the skiddish surprises!
Comment 12 by phynanciallysavvy
Re: Decided To Go For It After Several Offers!! User Icon on 2011-10-24

Remarks Seth, AMEX did the SAME thing with my mom's AMEX account (her first, at the time). They suspended her spending/access to her "no preset" CL - until she provided them w/ copies of her 2 previous years income tax filings... Against my advice, she obliged. After 5 weeks of "research", they reinstated her non-existent spending limit, as well as access for her and her authorized cardholders to keep on spending!

(I am not a fan of AMEX bc their method of complying with federal law - which only requires OBTAINING income - AMEX crosses the line bc they want documentation to validate/verify your claims of income to your claims of spending - on a federal level. H*ll no!)

Amazingly, AMEX has yet to mandate that authorized cardholders - equally able to spend on the acct & share the liability - while also benefitting every month on their CR's - never asks for THEIR tax information. What a crock.
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