AMEX third card application help

[pat0812]

I've been using AMEX for the last 2 years.

I initially got the PGR Gold as charge card and 4 months later I applied for the  Blue card and got $5,000 CL

After 61 days I got a CLI to $13,200

I used to pay all balances in full, until last year I had some unexpected needs and I kept a balance of over $8,000 and I was paying every month minimum payments every month.

I recently lowered the balances to $5,000 and my Experian Fico is  at 744, because my UTI went down to 19%

So with this balance I tried to get a CLI from AMEX and was declined.

I have applied today for Chase Slate and  Citibank Simplicity and was approved for $5,750 and $10,800.

I'm planning on transfering all my AMEX balance to those cards, as I get 0% APR for 18 months.

Should I apply for a new AMEX once I transfered all the balances and wait for my AMEX to report $0 balance ?

Regarding my card I was declined CLI, in 90 days will I have a better chance getting a CLI since my balance will be $0 ?

Does Amex remember I kept a balance for a while or they look at what are my standings right now ?

[Anonymous]

It's really going to depend on what kind of card you want to apply for (charge vs. revolver and which exact card too). In terms of getting another CLI, you should have a better chance, assuming everything on the SP they look at is in good standing and you have a steady income that can support your request for credit. As for applying for another card, your score seems to be good enough to merit an approval so once Amex posts your $0, you should have a pretty good shot. You might want to wait a little though just to be safe because you recently applied to two new cards. Just my $0.02. Best of luck dude.

[Anonymous]

Id wait until balance is paid down/BT away on AMEX before apping new card for sure.

[darkknight59]

@pat0812 wrote:

I've been using AMEX for the last 2 years.

I initially got the PGR Gold as charge card and 4 months later I applied for the  Blue card and got $5,000 CL

After 61 days I got a CLI to $13,200

I used to pay all balances in full, until last year I had some unexpected needs and I kept a balance of over $8,000 and I was paying every month minimum payments every month.

I recently lowered the balances to $5,000 and my Experian Fico is  at 744, because my UTI went down to 19%

So with this balance I tried to get a CLI from AMEX and was declined.

I have applied today for Chase Slate and  Citibank Simplicity and was approved for $5,750 and $10,800.

I'm planning on transfering all my AMEX balance to those cards, as I get 0% APR for 18 months.

Should I apply for a new AMEX once I transfered all the balances and wait for my AMEX to report $0 balance ?

Regarding my card I was declined CLI, in 90 days will I have a better chance getting a CLI since my balance will be $0 ?

Does Amex remember I kept a balance for a while or they look at what are my standings right now ?

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I would suggest waiting for that $0 balance.

[pat0812]

I never really understood why not everybody just does SP and not HP

What is the difference in information the creditor sees?

Do they see less information on a SP ?

Lets say I pay off my balances with AMEX and they reported that to all CB.

When I will ask them for a CLI will the SP be an updated  report with the $0 balance, or it might reflect an old SP with balances still ?

How come AMEX HP only after approved for a card? If I got approved using a SP, why do they need the HP after approval for ?

Could someone explain me once and for all what the difference is between the 2. The only thing I know is that SP doesn't hurt your score, but that's where my knowledge ends.

[Anonymous]

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@pat0812 wrote:

I never really understood why not everybody just does SP and not HP

What is the difference in information the creditor sees?

Do they see less information on a SP ?

Lets say I pay off my balances with AMEX and they reported that to all CB.

When I will ask them for a CLI will the SP be an updated  report with the $0 balance, or it might reflect an old SP with balances still ?

How come AMEX HP only after approved for a card? If I got approved using a SP, why do they need the HP after approval for ?

Could someone explain me once and for all what the difference is between the 2. The only thing I know is that SP doesn't hurt your score, but that's where my knowledge ends.

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Bingo.

It's just a perk. If they SP and deny you, nobody knows. 

[NRB525]

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@Anonymous wrote:

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@pat0812 wrote:

I never really understood why not everybody just does SP and not HP

What is the difference in information the creditor sees?

Do they see less information on a SP ?

Lets say I pay off my balances with AMEX and they reported that to all CB.

When I will ask them for a CLI will the SP be an updated  report with the $0 balance, or it might reflect an old SP with balances still ?

How come AMEX HP only after approved for a card? If I got approved using a SP, why do they need the HP after approval for ?

Could someone explain me once and for all what the difference is between the 2. The only thing I know is that SP doesn't hurt your score, but that's where my knowledge ends.

---

Bingo.

It's just a perk. If they SP and deny you, nobody knows. 

---

+1

And, as another perspective on it, when you are "seeking credit" the CCC can announce to the other CCC that this person is "seeking credit" so they are all on the same page about that. It's like a temporary APPING tatoo on your forehead.

Even Diners, who is apparently not going to report cardholder activity, used the HP to announce the credit app.

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:

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@pat0812 wrote:

I never really understood why not everybody just does SP and not HP

What is the difference in information the creditor sees?

Do they see less information on a SP ?

Lets say I pay off my balances with AMEX and they reported that to all CB.

When I will ask them for a CLI will the SP be an updated  report with the $0 balance, or it might reflect an old SP with balances still ?

How come AMEX HP only after approved for a card? If I got approved using a SP, why do they need the HP after approval for ?

Could someone explain me once and for all what the difference is between the 2. The only thing I know is that SP doesn't hurt your score, but that's where my knowledge ends.

---

Bingo.

It's just a perk. If they SP and deny you, nobody knows. 

---

+1

And, as another perspective on it, when you are "seeking credit" the CCC can announce to the other CCC that this person is "seeking credit" so they are all on the same page about that. It's like a temporary APPING tatoo on your forehead.

Even Diners, who is apparently not going to report cardholder activity, used the HP to announce the credit app.

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Temporarily at least...LOL.

But yeah, It's absolutely for the purpose of hard proof that they used your CR in their decision.

[bigbang91]

I applied for Amex delta gold while overall uti is 22% and has 10k balance on Amex ED, cli20.1k, 100 on Amex BCE, still got approved. So i would say you can go ahead and try to apply for new card.Bc even with BT, the debts still show up on other cards, and they may deny u due to high balances. 

[pat0812]

But if I play it smart and transfer balance just before AMEx statement cut off I might have a small window where I can have balance completly gone.
AMEX will report $0 and Chase will only report the new transfered balance later during the month.

Could I take advantage of that?