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Written by: galxygrl on 2008-04-14

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galxygrl's review: I got instant online approval. I read someone else's review of this card stating a specific range for "your" credit score required to obtain approval. However I had slightly below what was required and was still approved instantly. I got a CL of 1,500 to start off with. Which isn't bad if you think about it. I have not received the card yet. I am very excited, it seems like a good card. I just have one question. I have heard that American Express is not widely excepted, does anyone know why? Thnx, galxygrl*

11 Comments

Comment 1 by arod
Congrats on 2008-04-14

Welcome to the Amex Family Great Card,



Good luck to you,

Alex
Comment 2 by galxygrl
Thnx! on 2008-04-14

Thank you! -galxygrl*
Comment 3 by crazy2k5
Congrats on 2008-04-14

Congrts on the approval. I am working my way towards this card. If you don't mind me asking what were your scores.
Comment 4 by meya
Waaahooo on 2008-04-14

Look at that baby shine... Lol. Congrats on your approval, and if there are no stores in your area accepting it, come take a visit to mines, I will show you where they are for a fee of just touching the card itself... Lol
Comment 5 by galxygrl
Fico Score on 2008-04-14

I only know my FICO score because I have a Wamu Visa card. Part of my online account access is my month to month update of my FICO score. It is 704. Thanks everyone for all the congrats! -galxygrl*
Comment 6 by hjm331
Answer To Your Question. on 2008-04-14

The reason why VISA and Mastercard are accepted in more places is because AMEX and Discover charge you a lot more for processing their cards than VISA and Mastercard. Usually, big companies accept AMEX and Discover along with VISA and MC. It's usually the small business that can't afford or don't want to pay extra for AMEX and Discover card processing.

My dad and I run our own business and 1 out of every 30 or 40 customer gives us an AMEX card. I haven't even seen anyone try to pay with a Discover card. When we tell them that we don't accept AMEX, they just gives us a VISA or MC. We tell them why we don't accept AMEX or Discover and they understand why because it makes sense.
Comment 7 by hjm331
Important on 2008-04-14

If your limit is $1,500, don't go over $1,000 because AMEX gets worried and they have you send in your 1040 tax forms. It's happened to me. It's called a financial review. Just watch out for those.
Comment 8 by lyyssa01
Congratulations!!! on 2008-04-15

If I were to get an Amex, that would be the one I want. It's so pretty.
Comment 9 by greg500
ABOUT AMEX on 2008-04-15

Yes AMEX fees are higher to the merchant. They make their fees that way, and that's why some business frown upon accepting them. I have one AMEX card, and I've always had a great relationship with them.

But the thing most people do not understand is that unlike MC, VISA, Discover, etc, where it take takes a couple of days for the transaction to complete to have the funds electroncially placed in the merchants account, a AMEX transaction is like a cash voucher to the financial instiitution so it it immediate. The old adtage is sometimes true, you get what you pay for.
Comment 10 by palten
What's Best For The Consumer on 2008-04-15

I see your point, but in the end, what's best for the consumer should be the priority.

when my husband and I where travelling... And he tried to use his AMEX card... Only 1 out of the 6 merchants we went too accepts the card.

i always tell him, your xxxxxx credit in your AMEX got dumped by my $1500 VISA card

what's the use of having a huge credit limit if a merchant won't accept it.
Comment 11 by galxygrl
Thnx on 2008-04-16

Thnx to everyone for all your responses! I cant wait till I get my card!! :) -galxgyrl*
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