I have had this account for several years. It has a high interest rate compared to the market though not the highest. I also have several other savings accounts so I don't depend on this for everything. I largely put money in this for keeping and not spending. I also like companies that have great customer service. After Amex started a relationship with Charles Schwab for a co-branded credit card, I applied for that credit card and now I can access my amex personal savings from clicking to my amex account from schwab. It is almost like my amex personal savings is a Charles Schwab savings account :). That is great because Charles Schwab, while great for investing and checking, doesn't have a great savings account. Likewise, the Amex personal savings doesn't have investing or checking. That said, the Amex Schwab Credit Card and Amex Personal Savings are a perfect fit for the Charles Schwab checking and investing accounts.
I decided to make this my last inquiry for the next two years and I really wanted an airline mileage card as well as an Amex. I knew I had a lot of inquiries due to car shopping and recently getting my credit back on track and have been applying to a few cards here and there (mainly store cards). I honestly didn't think I would be approved but low and behold I was approved and for $9700 (this is my BIGGEST credit line ever). I'm elated that I can begin earning miles and now I have enough credit line to feel like a real member of society
I have less than a year's credit history with 100% on-time payments. Not for sure where CK gets their scores but my actual Fico 8 score is 708 and my actual Transunion is 729. 20 year old college student, but I travel a lot and stay in a number of Starwood hotels, so I gave this a shot! I previously had Green Charge card, Gold Delta SkyMiles card, and Everyday AmEx's, but I ridded of my green & Delta cards, so now I still have the Everyday but added the Premier Rewards Gold Card and this SPG. PRG is great because you get 3x points for booking any airline and 2x points on restaurants, gas, and grocery (which is most of my spending!) SPG may seem tricky because there are not tons of Starwood hotels everywhere but SPG is partnered with others so I can receive 2x or 3x points on any Marriott resorts as well. My charge cards have no pre-set limits, but my highest otherwise was my Costco Citi Visa with only $1200, and AmEx approved me for $8,500 for this SPG card. Awesome!
It will say the approval Odd is very good and when apply for the card they will disapprove you and impact on your credit score. Garabahe
Applied for this card yesterday after I was Pre-qualified through CK. After submitting my application, I wasn't approved immediately(system said would get back to me in 14 days), but I have zero patience so i gave them a call. My only previous card is a discover student card with a limit of $2200( started with $750 and it took me 18 months to get to were I am today). My credit score according to CK is 721 but according to my discover card I have a score of 752. The call represenatative was super nice while verifying my name and social security number and after a couple of holds, he told me my aplication has been approved with a limit of guess what? 10 FREAKING thousand. Considering this is my second card and I'm only 21, I'm excited as ****! Also, he expedited my card because i was on hold for quite a while.
AMEX like Chase, will not approve you if you have a BK on your credit bureau, irregardless of credit score. My wife and both have 680 and 710 scores but was denied because of a 3 year old BK.. Credit Karma gives you a very good chance but don't take the hard hit if you have this public record in your file, no matter what your score is.
So far I have no complaints with this card. Yes, the fee is a little steep, but the fact that I can pay for lounge access at a reduced rate without having to be flying business (or with someone flying business) is a nice perk, plus there is one free companion voucher per year, so my husband or son can join me for a trip for "free". Personally, I have been super happy with AMEX and the partner offers that have easily saved me the annual fee's worth of money on items I would have purchased anyway.