Credit Cards

[youngandcreditwrthy]

Wow!! Lol they are tricky tricky... But no one beats Cap One on frequency of sp'ing. They literally soft me like every week in August ( at least that's what I saw on my EQ report). And they still lie on cli requests to everyone. Pahaha!

[Revelate]

---

Cdnewmanpac wrote:

Amex has softed me on tu every month on the 28th since I got a zync in march. They have softed me on ex on the 24th of August and September. I don't know if the two softs are for my two cards, or they are just extra interested.

---

Thanks.  Hrm, have to go see on my baby Zync next year when I pull my annual reports in May/Junish in prep for a mortgage app (hopefully) as I should be out of the trial phase with Amex at that point with only the one card; I was just going by all the reports I'd read here over time which admittedly may not be correct.

[Supercollector16]

I'm thinking that worst case scenario if I get declined it is a soft pull from AMEX. Then I can go and try to increase my credit limit on My Chase Freedom card or CitiBank Mastercard. I can wait 3 months after and try again with AMEX then having a higher limit, lower utilization %, and longer age of accounts.

Again, this is if I get declined. Sound like a bad idea?

[Revelate]

---

Supercollector16 wrote:

I'm thinking that worst case scenario if I get declined it is a soft pull from AMEX. Then I can go and try to increase my credit limit on My Chase Freedom card or CitiBank Mastercard. I can wait 3 months after and try again with AMEX then having a higher limit, lower utilization %, and longer age of accounts.

Again, this is if I get declined. Sound like a bad idea?

---

I'd still wait till January anyway.  

Also, I don't think higher limits will necessarily help you in Amex's case with a BCP; it's a known fact their initial limits will go down to $500, and their CLI policies are second to none currently.  I didn't look at the thread to see what your income was, but Amex will almost certainly consider your other open tradelines as an underwriting hurdle to get over, and more is not necessarily better in this case.  We're not talking about Chase.

[webhopper]

Before you cold app them; check for pre approvals.

[Supercollector16]

If I apply now and get declined, will it affect me if I apply 3 months later even though it is a soft pull?

[calihlove75]

---

Supercollector16 wrote:

If I apply now and get declined, will it affect me if I apply 3 months later even though it is a soft pull?

---

It might affect your internal score from what I heard about Amex.

[Revelate]

What's the rush Supercollector?

Your current approval chances are aren't optimal, the internal record with Amex may hurt you if denied, and you're better off FICO wise obtaining the card in January anyway.

I'm just not seeing the upside of the application now, and I think we may have done you a disservice with the glittery posts on this forum; I would encourage you to take a step back, look at what you're trying to accomplish and then come up with a plan. Credit building and FICO are marathons, not 100m dashes.

[Supercollector16]

I am wanting to pay down a balance of around $4,000 on an account before the promotional period ends. If I don't I get charged a $1,250 interest fee. Just trying to get a great card that could also help me be able to pay off this balance in time. I figured it I have a chance of getting accepted I might as well try.

[webhopper]

So you got yourself into a 0% interest bind.... unfortunately amex is likely not going to be the one to help you out of it. Citi might or discover might.... discover doesn't like high utilization either. You might try chase freedom; chase is good about recon.