myraven

Which has the higher interest rate? The answer to that question is your answer.

760 Credit Score: Instant Approval: This will help lengthen my credit history hopefully as I had a AmEx for 24 years before it was abruptly cancelled after the meltdown in Fall 2009. That is the main reason I applied.

The Orchard Cards I recommend: Run from Capital One with your drawer's on fire. Just my 2 cents.

I had a AmEx card for 24 years and never missed a payment. In Oct. 2009 they promptly closed my account. I was informed my ratios were to high: Well my ratios were high because 3 cards including AmEx that I had perfect payment records with arbitrarily decided to close my accounts. My credit score dropped from 780 to the 720s. I wrote the President and received a call from one of his flunkies who essentially told me I was welcome to reapply but essentially to get over it: So much for customer loyalty. Bottom line IMHO: If you want it for the status then go for it but beware: They may close it in a minute if they perceive any minut risk and you must have excellent credit to be approved. Good Luck and let us know what happened.

You are so right: I shucked the AmEx, the BofA Visa for my Credit Union Visa. The %rate is 9.5. AmEx really steamed me when they cancelled my card last year after 24 years of not missing a payment. I paid the card completely off and they promptly cancelled the account.

I will never deal with the big banks again and particularly AmEx ever again. I keep my Discover because the interest rate is low: 12% but if they start jerking me around they will hit the shreader too.

Lucillekeas & Clark Howard are exactly right about using the credit union for your credit needs.

AmEx canceled my account after 24 years, a 740 credit score and never missing payment after a financial review as the spokesman put it because of a 2nd mortgage I co-signed for my parents home. The spokesman said they would review my account in 3 months once again. I went to my credit union and was issued a credit limit 3 times the AmEx limit at 9%. AmEx has gotten too big for their britches: I won't ever carry there card again.