American Express Membership Rewards - How does Amex Gold Card affect credit?




jeffs3
Jul 4, 09, 5:36 pm
Hello,
I currently have a Blue Amex card with 10K limit and they are offering me the Gold Card free for 1 year. It is my only credit card/credit report item and I currently pay the Blue card in full each month and charge 300-2500 per month on it. How would it affect my credit to open a gold card and pay in full each month? I have new credit so I am trying really hard to build it as high as possible.

I was worried that if I got the gold card it would not be good for my credit since it has no limit so I thought it might make it look like I am spending really high each month near my limit since i have heard that it calculates your limit with the bureaus as the highest balance in a 12 month period. Please help!


tkyoshi
Jul 4, 09, 7:17 pm
Hello,
I currently have a Blue Amex card with 10K limit and they are offering me the Gold Card free for 1 year. It is my only credit card/credit report item and I currently pay the Blue card in full each month and charge 300-2500 per month on it. How would it affect my credit to open a gold card and pay in full each month? I have new credit so I am trying really hard to build it as high as possible.

I was worried that if I got the gold card it would not be good for my credit since it has no limit so I thought it might make it look like I am spending really high each month near my limit since i have heard that it calculates your limit with the bureaus as the highest balance in a 12 month period. Please help!

It will show up as a Flexible Spend/Open card so it won't be taken as you are maxing out your credit line all the time.

Previously yes, but they introduced that new category to avoid this problem especially with World Mastercard and Visa Signatures being treated similarily to charge cards as well.



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