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Should I take the offer for the American Express Card

I only have 2 other credit cars
a Macy's Card
and a Master Card

I don't necessarily want to use this card, maybe just as emergency, or to keep my credit high

 
DomoniqueWS

Asked by DomoniqueWS at 6:01 PM on Jun. 18, 2011 in Money & Work

Level 25 (23,109 Credits)
This question is closed.
Answers (6)
  • You have other cards, getting another can backfire. Since you will have opened another line of revolving credit, it can actually hurt your score.

    Keep the other 2 and pay them off and leave it at that
    Jademom07

    Answer by Jademom07 at 6:03 PM on Jun. 18, 2011

  • I believe the more credit accounts you have opened the lower your score will be.
    Simplicity3

    Answer by Simplicity3 at 6:10 PM on Jun. 18, 2011

  • if you dont need it, then do not get it
    mommy_of_two388

    Answer by mommy_of_two388 at 6:18 PM on Jun. 18, 2011

  • is it just a you are pre approved letter? Most of thoese offers you not really really pre approved and everything they check you score points will be taken, as far as I know as much as 10.
    Best is to do something with your bank I guess.
    LittleBirdFly

    Answer by LittleBirdFly at 6:07 PM on Jun. 18, 2011

  • hmm
    the way i understood credit was getting another card backfires if you don't pay it, max it out, etc
    And then if you apply and then get denied, thats also a slap to your credit score.

    I never thought simply opening a AMX would lower it, only raise it

    the reason I was wondering was because you have to pay this card off in full, so I cant just do like how I do with the other cards to keep a small blanace, I wll actually have to use this one a little bit. And If I pay off my cards all of the way with no balance that will hurt my score as well.
    DomoniqueWS

    Comment by DomoniqueWS (original poster) at 6:07 PM on Jun. 18, 2011

  • I'm going to talk it over with my hubby
    I have a high score, and it only negatively effects my score at first, much like buying a house, your score goes down and then up. We will see. I don't need it, but I also don't need the other ones, I just need them so one day my credit and payment hitory can be good enough to where I buy a house or a car, I will get approved easier and with lower APR's
    DomoniqueWS

    Comment by DomoniqueWS (original poster) at 6:24 PM on Jun. 18, 2011