Amex Already Softing Me!!

[Uncle_Money]

Hey Gang,

Well, what I've read here about this certainly holds truth...Let me explain.

Last month I applied and was approved for both the American Express Green Rewards personal card and the Plum card for business, both of which I'm enjoying by the way. I especially love the Plum Card and people definitely give it a second glance.

Tonight, I decided to check my soft pulls and sure enough, there was Amex on September 9th lol. Not that I care, because I manage my finances very well, but how often should I expect to see this and what exactly are they looking for? I never had a lender do a soft pull so quickly. We're talking about less than the first month I received the cards!

CALLING ALL AMEX GURUS:

Plum offers the pay in full or defer payment option. If I choose to defer payment here and there, will they take this as a sign of financial trouble or it doesn't matter? Should I not take advantage of this option?

If it matters any, I've already pushed $6,000+ through.

- Uncle Money

Message Edited by Uncle_Money on 09-16-2008 09:06 PM

[haulingthescoreup]

No personal experience with the Plum (sigh), but I would say don't touch that option for at least 6 months or a year, which would be even better. Or at least this is true for personal cards.

They have a weird way of dangling offers at you, and then slamming you if you take them up on it a bit early. *This might be different for business cards, though; see below.*

As for the softs, they checked me every month for the first three months, and then they backed off a bit. I'm awfully small beer with them --maybe $600/ month on average, and that's including the Verizon bill, so I don't think that I'm much of a blip on their radar screens.

Message Edited by haulingthescoreup on 09-17-2008 03:33 AM

[Creditaddict]

well unlike with the deger option on a regular personal charge that will throw red flag I don't think defer on the plum is bad, becuase you are paying a % of your total purchases and then the remainder 30 days later. so your not really carrying a balance month to month.

and softing probably 1 a month at first.

[ficonovice]

What service allows you to see what creditors are pulling soft inquiries? I use true credit and love it though I know the scores themselves are basically useless. I find it very helpful to pull my reports every week or so and I focus on the details, not the scores.

To my knowledge, I can't view who has pulled soft inquiries through the tc site. I also have score watch and don't get the info there.

Thanks!

[Creditaddict]

When  you get credit reports directly from ex, tu, eq you can see soft inq or promotional purposes inq.

[Miner]

hah!  I'm not even an AMEX member and they have been soft pulling me every month since January.  I guess that explains the numerous per-approval offer letters for their various cards.  If they stick to schedule, they should be pulling me again next week.