Strategy to obtain US Amex

[travelguy83]

With regards to reaching premier status from HSBC Australia (By transferring 9k in and out for 6 months), does your new status get automatically updated on your account ?

Nowadays you can actually deposit the 9k into a brand new account, call them up and they make you premier instantly. You just need to agree to depositing 9k every month from then on.

 

[Voele]

Can you please share more info relating to this? Also, do they worth it to apply and loose spots for 5/24 with Chase later on down the track?

I've also been wondering if its worth to get these cards.

The premier has a 35k SUB for $3000 spend, no fee. The Elite 50k for $4000 spend, $395 annual fee.

Most transfer partners transfer at 1.25:1, so effectively you get 28,000 for the premier card. Not that great given you also give up a 5/24 slot.

The $400 on the Elite really makes it not worthwhile imo

 

[nthd_nthd]

I've also been wondering if its worth to get these cards.

The premier has a 35k SUB for $3000 spend, no fee. The Elite 50k for $4000 spend, $395 annual fee.

Most transfer partners transfer at 1.25:1, so effectively you get 28,000 for the premier card. Not that great given you also give up a 5/24 slot.

The $400 on the Elite really makes it not worthwhile imo

Thanks for providing your thoughts and analysis.

 

[maverick1]

I've also been wondering if its worth to get these cards.

The premier has a 35k SUB for $3000 spend, no fee. The Elite 50k for $4000 spend, $395 annual fee.

Most transfer partners transfer at 1.25:1, so effectively you get 28,000 for the premier card. Not that great given you also give up a 5/24 slot.

The $400 on the Elite really makes it not worthwhile imo

FWIW i got the no fee card with the intention to keep it with me for life or as long as possible to help with credit history (length)...besides the initial spend to met the SUB i haven't used the card at all...

 

[DC3]

FWIW i got the no fee card with the intention to keep it with me for life or as long as possible to help with credit history (length)...besides the initial spend to met the SUB i haven't used the card at all...

Would your FICO drop due to not using the card?

 

[desafinado74]

Nowadays you can actually deposit the 9k into a brand new account, call them up and they make you premier instantly. You just need to agree to depositing 9k every month from then on.

Thank you for your helpful reply. Are you transferring 9k in and out of your account every month ?

 

[levelnine]

Would your FICO drop due to not using the card?

Utilisation has no significant long term effect on your credit score. High utilisation negatively affects your credit score, but only lasts for as long as you have a high utilisation — pay off the balance and its effect goes away.

 

[Voele]

FWIW i got the no fee card with the intention to keep it with me for life or as long as possible to help with credit history (length)...besides the initial spend to met the SUB i haven't used the card at all...

This is the only reason why I was also considering it - for the credit history boost. Still working on a couple aussie SUBs, might get the HSBC card after completing those.

 

[travelguy83]

Thank you for your helpful reply. Are you transferring 9k in and out of your account every month ?

Personally no, but you can do that and still be eligible.

 

[nj12]

Update: After 31 days and numerous phone calls to Chase to verify identity while being told my application was subject to an extended review multiple times I received an email today that i've been approved for World of Hyatt with a 15.5k limit. Any recent DP's on Chase expediting card to Aus?

Received my new Chase WOH card by UPS courier today at AUS address 5 days after requesting it to be rushed internationally. Seamless process, no additional identity verification required.