topic Re: AMEX FR - How sensitive to new inquiries/hp in Credit Cards

AMEX FR - How sensitive to new inquiries/hp

nagisa — Wed, 14 Nov 2012 03:32:04 GMT

I applied for a Citi Forward (got denied; in recon) then approved for a BCP and following that a Chase Amazon card. I'm worried that the recon on Citi will do another HP (they said it might and couldn't tell me).

I know AMEX soft pulled me immediately after Chase hard pulled. If Citi hard pull again and AMEX notices, it could look like I've app'd for four cards in a month (only had two previously - so huge increase). Could this potentially trigger an FR?

I'm in a bit of an awkward situation where a FR would be pretty hard for me to satisfy as the past few years almost all of my income is from overseas and not reported to the IRS. Only in the last few months is my income US-based; would they accept last few pay stubs or bank statements instead?

gaah worried now. stupid citi application; shouldn't have done it

Re: AMEX FR - How sensitive to new inquiries/hp

trumpet-205 — Wed, 14 Nov 2012 03:45:20 GMT

AMEX wants tax return, nothing else. Tax return cannot be forged, unlike paystub or bank statement (tax return comes from IRS directly).

I think you are worrying too much. I applied 6 cards this year and haven't got hit with FR yet.

Re: AMEX FR - How sensitive to new inquiries/hp

webhopper — Wed, 14 Nov 2012 03:45:49 GMT

Hmm this can put you in a sticky situation.... as foreign is usually reported to the Irs as far as I know. Do you pay taxes in another country? If so I recommend that you address the FR using your foreign tax statements.

Personally though; I don't see that you're at risk for FR. I had tons of inquiries prior to and after receiving my Amex charge card. The most important thing to consider is to keep your charges commensurate with your income and you'll be just fine!

Best of luck and welcome to the Amex family!

Re: AMEX FR - How sensitive to new inquiries/hp

nagisa — Wed, 14 Nov 2012 03:53:58 GMT

webhopper wrote:
Hmm this can put you in a sticky situation.... as foreign is usually reported to the Irs as far as I know. Do you pay taxes in another country? If so I recommend that you address the FR using your foreign tax statements.

Personally though; I don't see that you're at risk for FR. I had tons of inquiries prior to and after receiving my Amex charge card. The most important thing to consider is to keep your charges commensurate with your income and you'll be just fine!

Best of luck and welcome to the Amex family!

Up until 2013, I'm still non-resident for tax purposes, so I don't file a 1042, but a 1042-NR instead, which doesn't require reporting of foreign income. there's also no tax treaty between here and the other country.

How many cards did you apply for after your amex and how quickly?

I've had my Gold amex for just over 2 years now, so I suppose there's a chance they can look at that and know im a good customer.

Re: AMEX FR - How sensitive to new inquiries/hp

webhopper — Wed, 14 Nov 2012 04:08:07 GMT

Oh I see... very odd predicament...

I got my amex card in February.... I had over 15 HPs on each report (from mortgage process nightmare) the app for amex was done in a spree fashion... I apped for amazon store card; amex; chase amazon; QT gas card; discover open roads; usaa mastercard all within a few days.

In march I apped for nfcu membership; nfcu auto refi; nfcu cash rewards.

In may I got a Hp for a new security system installed in the new house.

In July I did an Fha streamline refi.

In October... I did an auto loan app to replace my paid for car that was totalled (RIP little red hot Volvo) *tear

Re: AMEX FR - How sensitive to new inquiries/hp

Revelate — Wed, 14 Nov 2012 22:30:26 GMT

Inquiries are not known to trigger FR's AFAIK. I don't think you have anything to worry about unless your spending greatly outstrips Amex's theoretical financial profile of you based on your income vs. debt obligations.

Re: AMEX FR - How sensitive to new inquiries/hp

Cadillac-XTS — Wed, 14 Nov 2012 23:37:43 GMT

Re: AMEX FR - How sensitive to new inquiries/hp

webhopper — Thu, 15 Nov 2012 00:19:38 GMT

Credit314 wrote:
+1

Do you mind sharing additional commentary or discussion to help the Original Poster? I'm assuming your agreement is based on a recent experience? It is always helpful to post detailed experiences and comments.... others may be able to learn new things from your experiences! Thanks in advance!

Re: AMEX FR - How sensitive to new inquiries/hp

newportguy — Thu, 15 Nov 2012 00:28:26 GMT

webhopper wrote:
Credit314 wrote:
+1

Do you mind sharing additional commentary or discussion to help the Original Poster? I'm assuming your agreement is based on a recent experience? It is always helpful to post detailed experiences and comments.... others may be able to learn new things from your experiences! Thanks in advance!

OFF Topic .....

Thank you webhopper