09-23-2011 09:22 AM
So I've read on here that if you're a current AMEX customer and you're declined when applying for another card they will not hard pull your credit. Is this correct? My fiance and I have Zync but with her credit score (806EQ myfico) I'm pretty sure she'll be accepted for Gold PR but she's scared of the inq if she's denied.
09-23-2011 10:20 AM
Really? I've read on another thread that they do not do a hard inq on existing customers unless accepted (gotta find that thread)
09-23-2011 10:25 AM
I know a couple threads that have stated that from one or two people but I think the end results didn't back those statements up.
The only time other then 2 applications in same day that a credit pull does not get done on new accounts is if you are black listed and apply, it checks for past accounts and if clear then it pulls credit for decision.
09-23-2011 10:26 AM
09-23-2011 10:33 AM
Hmm interesting.. Wish I had a def answer but I guess we'll have to see.
09-23-2011 10:37 AM
oh if declined for new card but already a card holder no pull.... that is probably true... I miss understood... but I think if it goes on to process and approval then it pulls?
09-23-2011 10:38 AM
Yeah thats what I've been told.. If it works that way we're perfectly fine with that
09-23-2011 11:06 AM
My understanding from that thread is when you are an existing amex customer, you only get a hard inq if you are actually approved for another card.
09-23-2011 01:40 PM
My understanding of the whole process as an existing cardholder is as follows
1- App for the card- Amex's system checks the "internal score criteria"- if you don't pass that, the process stops
2- Pass the internal score- a hard credit report is then pulled either from One, two or all 3 CRA's depending on what is first seen in your experian report (or from what I understand the platinium card app will 75% of the time pull all 3)
3- either approved or denied based on your current report.
As with everything else YMMV
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