01-10-2013 06:56 AM
I am planning to do an app or two with Amex soon. But I don't want them to pull Experian....which they surly will. My Experian seems to be the go-to bureau with most of my creditors. I have 10 inquiries on it (one of which I am disputing against a credit card processor for an unauthorized HP) as opposed to only 3 and 4 on TU and EQ.
Any experience that others can share on freezing EX to force Amex to pull another? Complications?
01-10-2013 06:59 AM
I applied for my last Amex while my EX was frozen. I had to call them to give them the pin to unlock the report. So no way around forcing them to another report.
Historically, Amex will only do a HP on an existing member if approved. It almost seems that the HP is just to notate that an application was received and new card issued. Since you have a Plum card, this might be all that would happen.
01-10-2013 10:35 AM
Thanks for the info. Yeah, so there's no way around it. :-(
I actually don't care if they look at the contents of the report. All three bureaus' reports look almost the same except for those darn inquiries ....which also drags down my EX score a bit compared to the other two even though my EQ, for whatever reason, shows the fewest closed accounts and thus has a slightly lower AAoA and length of history. So, you would THINK my EQ had the lowest score but it's actually the middle score because of the inquiries difference. My TU, which I would have liked them to pull, benefits from the highest number of accounts and AAoA and fewest inquiries and has the highest score. But, I would be approved regardless of whichever report they pulled although I slightly worry that the number of inquiries on my EX might get me a slightly lower limit than I would have with the other bureaus.
01-10-2013 12:00 PM - edited 01-10-2013 12:03 PM
Score is likely one of the lesser factors in determining limits as compared to:
These appear to even be more heavily weighted in the Amex spend-centric view of the universe as compared to other lenders. Generally score gets you in the door, but there's more that happens in underwriting for approval, and especially for the initial credit limit extension. As such I wouldn't even worry about the inquiries in the slightest when it comes to affecting what limit you receive.
01-10-2013 01:46 PM - edited 01-10-2013 01:48 PM
Another data point - Applied for Hilton Amex with EX frozen and had to call with the PIN for approval.
I've heard that if you apply for an Amex using a Credit Karma referral link, Amex may pull Transunion. I completely forgot to try it for the Hilton, though, so have no data to back that up. Clicking through to the application through Credit Karma does bring you to a different application page than doing it through Amex's website and gives you the 25k points offer instead of the 10k.
01-10-2013 02:17 PM
That's a very interesting thought on the credit karma link-through. It very well may be true considering TU is basically supporting credit karma with the credit data end of things. So, it would make sense that TU leverages this as a way in the door to get more HPs from their bureau. Hmmm.
01-10-2013 02:22 PM
Thanks for the tips, Revelate.
I actually called business card underwriting and spoke to them about it. He parroted a lot of what you are saying. He said my spending with them (about $60,000 since last April and a monthly highwater mark of $25,000 back in July) along with good faith Q&A on my current business numbers (assuming I am telling the truth with no docs or HP) would hypothetically result in a rough limit of about $22,000 +/- on the SPG Biz. He also said the inquiries aren't a big deal either and that they would address them one on one if they had any questions.
01-10-2013 02:23 PM
That is a very interesting concept. I would love for somebody to try this and document it.
I just applied and was approved for the Green and my EXP was frozen and had to give PIN as well.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.