Amex Eligibility and credit limit questions

MPH80

Or just don't carry a balance on it???

PhenoM

MPH80 wrote: »

Or just don't carry a balance on it???

Or that lol.

BugsyBrowne

PhenoM wrote: »

Accepted at 22 or 23%, can't remember what he said.

Meh, too high when my RBS World gives me 9.9%. Will cancel once I receive the card and build my credit history in Canada from scratch.

An AMEX credit card at 23% lovely....

PhenoM

BugsyBrowne wrote: »

An AMEX credit card at 23% lovely....

My bad. It's actually 23.9%.

Well, suits me right for jumping the gun. Just came to find out I can actually take secured credit cards in canada as soon as I get there. A couple of those along with a cellphone and broadband contract and I'll be set.

Will probably just cancel it once I receive it. No point paying £25 and paying 24% if I were to revolve the balance, which I might end up doing. That's my one search in 4 months proving unfruitful

BugsyBrowne

PhenoM wrote: »

My bad. It's actually 23.9%.

Well, suits me right for jumping the gun. Just came to find out I can actually take secured credit cards in canada as soon as I get there. A couple of those along with a cellphone and broadband contract and I'll be set.

Will probably just cancel it once I receive it. No point paying £25 and paying 24% if I were to revolve the balance, which I might end up doing. That's my one search in 4 months proving unfruitful

24% is fine as you know if you're paying in full,but as we never know whats around the corner carrying a balance on that into the thousands could bite you back.

Carrying a grand or so is not going to kill you in interest but its more being an AMEX at 24%.

reclusive46

Its not really £25. Amex has plenty of foursquare offers that will easily off set the fee.

[Deleted User]

I'd think seriously about keeping the card. 23.9% isn't great but just don't carry a balance and it's no different that any other card. As you mentioned, if you have a UK card for a while then Amex will give you a canadian one when you move over there. Not sure how long you mean to spend in canada but when/if you come back to good ole blighty, you can then do the reverse and get a UK Amex issued.

This should help bridge any teething problems that you may have after lack of credit footprint in the UK while you are away.

hillendale

PhenoM wrote: »

Well I'm basically planning on moving to Canada for a few years in July/Aug or so. And if I understand correctly, Amex will let me have a card there if I hold one in the UK for atleast 3 months. This'll help me build up my credit file in Canada too.

That tbh, is my primary motive.

Worked for me when i moved to Canada.
Amex will open you a new account in Canada if you have a good record with them in the UK.
One think they will ask for is a cheque made out from 'your' Canadian bank account which should contain your address in Canada on the cheque they normally ask for a dollar cheque which is refunded. This process is normally a requirement of federal law to prove your identity. I would advise you open a standard cheque account with a Canadian bank ( Scotia Bank ) are pretty good for new immigrants. Scotia will likely offer you a master-card credit card which will help build your credit rating as well.
Amex gave me a pretty good limit back when i opened my account $7k although I did have a GBP 20k limit with them in the UK which they still kept active in the UK.
Note credit rating in Canada can take a while to build up so any help to kick start this will be an advantage. What will be your status when you arrive in Canada TWP / PR / CITIZEN as this will affect the type and amount of credit you will be offered.
All the best