No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I have five amex cards (1 charge & 4 credit cards). I want to apply for another amex card. I really don't need the card, but looking to help AAoA anyway that I can. My gut tells me that I will get another $2,000 limit. Also, I called amex about backdating and was told that if I applied today and was approved, today's date would be reported to the CRA's as the opening date. Any suggestions/experiences in this area?
@12njoy wrote:I have five amex cards (1 charge & 4 credit cards). I want to apply for another amex card. I really don't need the card, but looking to help AAoA anyway that I can. My gut tells me that I will get another $2,000 limit. Also, I called amex about backdating and was told that if I applied today and was approved, today's date would be reported to the CRA's as the opening date. Any suggestions/experiences in this area?
Think they have a limit of 4 credit cards with them so you may be out of luck
@rushx2112,
Thanks, that is what I've heard throughout these Boards. I decided to call amex and they said there is no limit, but I don't won't to apply if I don't get backdated. I have a thin file and a new account would hurt.
@12njoy wrote:
Thanks, that is what I've heard throughout these Boards. I decided to call amex and they said there is no limit, but I don't won't to apply if I don't get backdated. I have a thin file and a new account would hurt.
I suspect you may have had a bad rep! People have certainly been rejected for trying to get more than 4 credit cards, and backdating is well established.
@Luscher,
5 is plenty. As I've indicated that I am trying to help my AAoA quickly (shortcut). Gardening is great but the purpose of doing a 6th is for backdating. If it was simply for another card, Amex wouldn't have been my choice, as I currently have 5.
At some point you're going to max out your backdating efforts since the AAoA would get more diluted if you keep applyng for more credit. Of course, ultimately you decide what's best for you and your financial goals. You'd hate to get a card that you're not going to use only to serve as a "book stand". Now, if you'll put the occasional use, sure why not. But, it's likely the CL will not be that high based on the other AMEX cards you have. Best of luck either way OP.
@FinStar,
Thanks for the great advice. I recieved all my current (5) cards in the same year, so I was thinking with backdating on a new one would help AAoA. All the cards I have I use by rotating them whereas I use maybe 3 each month and PIF and then use another 3 the following month. This vicious cycle is repeated over and over I only wish I had known about the backdating before getting all the cards in the same year. Foolish me!