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Thinking about a new Card (American Express Clear)


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I'm thinking about applying for a new credit card. I'm looking at the Clear from American Express card. Does anyone know of anything to look out for or worry about in getting an American express. I doubt I'll even get it. I found out today my Equifax fico score is 651, so it may be too low. I'm choosing to apply for the clear card either now or in the future because it has no fees, 0% APR for 12 months, no annual fee (obviously), and isn't a "rewards card". According to what I've heard about "rewards cards" from Clark Howard, their good, but a large number of merchants are getting annoyed with them and I'd like to avoid being stuck with one.

I've been told American Express is good for because it has to be paid off every month (assuming you have the ability to push aside temptation to spend enough to do such a thing). Though, I have no first hand knowledge, so any information further would be useful.

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I got the clear card recently and so far it has been a good card. Its a credit card so you can carry a balance. I also like the fact that it has a full months grace period instead of the typical 20 days that amex usually offers.

One way to get the clear card is to build up history with amex with another card and then go for the clear card. Once you get your foot into the door amex is usually pretty good about approvals.

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I got the clear card and am pleased with it so far I paid the balance off of $70.00 the first montch and the next month they increased my credit limit to $4300.00. I would go with the card if I where you also I got a 3.9% APR for the life of any balance transfers as long as they where submitted before Sep. 06.

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Well, I applied for the card and was rejected. My record is sqeaky clean. However, I have a high balance on my current Bank of America credit card. It's roughly 90% of the $2000 credit line. I was able to see the rejection letter immediately after being rejected. It list me as too high risk due to having such a high balance. I figure I'll simply pay down the balance and reapply once I have roughly 40% of the balance left owed. I picked 40% as the myfico website list 40% as the average amount owed for Americans, plus the score simulators on the site show my Fico score in or around 700 by the point. Thanks for the opinions everyone.

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