Credit Cards

[Razeus]

I'll be at the 61 day mark (judging my activation time) the first week of November.  I plan to call in and get a bump to $3k CL.

Anyways, I'll have 6 new lines reporting by then (1 mortgage, 5 new cards obtained in August - none which as of yet show on my reports), all on on time of course with 0-5% utilization.  

I know my score will drop big time once these 6 new lines report.  How long will it take before it jumps back up?  Will this hurt my chances of a CLI in 61 days?  With the higher CL's reporting, will AMEX take that in consideration and bump me up?

[DrJim]

Honestly I don't think they even soft you at 61 days.  If you use it and PIF that should take care of things.  When I called in there were not even 30 seconds between applying and approval.  At the level you are talking about it doesn't pay for them to pull a score, they can do that internally and use your score from the app.  We're only talking about a $2K increase in risk.  Make a customer happy by giving them the opportunity to use my card more?  Heck yeah!

[bichonmom]

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Razeus wrote:

I'll be at the 61 day mark (judging my activation time) the first week of November.  I plan to call in and get a bump to $3k CL.

Anyways, I'll have 6 new lines reporting by then (1 mortgage, 5 new cards obtained in August - none which as of yet show on my reports), all on on time of course with 0-5% utilization.  

I know my score will drop big time once these 6 new lines report.  How long will it take before it jumps back up?  Will this hurt my chances of a CLI in 61 days?  With the higher CL's reporting, will AMEX take that in consideration and bump me up?

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I got 2 Amex in Feb. They softed me at the end of March and I CLI'd the revolver in April (around 62 days) from $2k to $6k.

The likelihood is that they will soft you BEFORE you CLI @ 61 days, and that will be a factor in your CLI approval or denial. 5 new CCs is a lot. I'd be sure all CCs are reporting zero balance, except one @ <10%. That will increase your chances of approval. They won't go over the 3x, so I doubt the new higher CL reporting will influence your CLI w/Amex.

It takes around 6 to 12 mos for scores to rebound from new accts., depending on how many, the hit to your AAoA, etc.

[AF_23]

Dont assume you'll get it

[scientifics]

With 6 inquiries and 5 new cards, Amex might deny you because of too many inquiries or too many new tradelines. It can't hurt to try though because it's just a SP.

[Razeus]

I'll attempt it at 61 days.  I don't think I'll get it, but I should be sitting pretty at the 6 month mark since all my inquiries would have aged and less damaging to the score.  My AAoA is already 6 years, so I'm not worried about it dropping from the 6 new lines.