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Hard Inquiries and AMEX

Member

Hard Inquiries and AMEX

Sorry - this is another "when should I apply" / "will I get approved" thread. But I'll make it quick.

 

Basically I think I have a really good profile to get an AMEX Blue Cash Preferred execpt for a few recent inquires.

 

-No baddies, late payments, collection agencies, etc.

-AAoA ~7 years

-Utilzation 7%

-FAKO Score 741 (Credit Sesame) I know this has little impact, but thought I'd throw it on here anyway.

-Good number of revolving accounts

-Student Loans no missed payments

 

I have three recent inquieries in the last 6 months:

-May for a car loan

-July from Chase Bank for a Freedom

-July from US Bank for a Cash+

 

I'm worried that if I applied for a BCP soon that I will get denied because of so much credit that I've opened recently. How much does AMEX take this into account? Should I wait until January? Or longer?

 

26 REPLIES
Valued Contributor

Re: Hard Inquiries and AMEX


DailyGrind wrote:

Sorry - this is another "when should I apply" / "will I get approved" thread. But I'll make it quick.

 

Basically I think I have a really good profile to get an AMEX Blue Cash Preferred execpt for a few recent inquires.

 

-No baddies, late payments, collection agencies, etc.

-AAoA ~7 years

-Utilzation 7%

-FAKO Score 741 (Credit Sesame) I know this has little impact, but thought I'd throw it on here anyway.

-Good number of revolving accounts

-Student Loans no missed payments

 

I have three recent inquieries in the last 6 months:

-May for a car loan

-July from Chase Bank for a Freedom

-July from US Bank for a Cash+

 

I'm worried that if I applied for a BCP soon that I will get denied because of so much credit that I've opened recently. How much does AMEX take this into account? Should I wait until January? Or longer?

 


I don't see any reason why you woldn't get approved for BCP, they aren't terribly sensitive on INQ's if you have otherwise good history. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Senior Contributor

Re: Hard Inquiries and AMEX


DailyGrind wrote:

Sorry - this is another "when should I apply" / "will I get approved" thread. But I'll make it quick.

 

Basically I think I have a really good profile to get an AMEX Blue Cash Preferred execpt for a few recent inquires.

 

-No baddies, late payments, collection agencies, etc.

-AAoA ~7 years

-Utilzation 7%

-FAKO Score 741 (Credit Sesame) I know this has little impact, but thought I'd throw it on here anyway.

-Good number of revolving accounts

-Student Loans no missed payments

 

I have three recent inquieries in the last 6 months:

-May for a car loan

-July from Chase Bank for a Freedom

-July from US Bank for a Cash+

 

I'm worried that if I applied for a BCP soon that I will get denied because of so much credit that I've opened recently. How much does AMEX take this into account? Should I wait until January? Or longer?

 


with 2 new accts just 2 mos ago, you might want to wait until dec to app. It will be the same for future backdating. You would probably be approved, but I tend to be a little more conservative when dealing with amex. 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor

Re: Hard Inquiries and AMEX

do you have any other amex's? if so id wait until january for backdating and if you dont get it it will only be a soft pull. if you don't and its something you really want go for it. 

 

from what ive read they are not ones to worry with a few inquries like barclays. 

i apped when i had 5 new ones in the past couple months. 

but i got barely approved. because my aaoa dropped to 7 months from 2 years. 

 

5 cards and an installment loan(still not reporting) 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Frequent Contributor

Re: Hard Inquiries and AMEX

I think you should be fine to be approved for a BCP!

Member

Re: Hard Inquiries and AMEX

Wow, thanks everyone! I can't believe how many helpful answers I got in such a sort amount of time. I think I'm gonna go for it, but I'll wait until October since it's just right around the corner and it will put 3 months between my last inquiries instead of 2. Also I have an old inquiry from two years ago falling off the report completely in October.

 

I don't have any previous relationship with AMEX - but I'm curious as to the advantage to backdating. Does it have any benefits or does it just look cool to have "Member since '92" on your card?

 

Also - I bit the bullet and signed up for the free trail from myFico. I was pleasantly surprised that my real score was 758! However, I was surprised to see that there were no inquiries listed. Also my utilization was 12% Smiley Sad. I pay the balances in full every month, but I guess I'll have to pay sooner than when the statement closes.

Valued Contributor

Re: Hard Inquiries and AMEX


DailyGrind wrote:

Wow, thanks everyone! I can't believe how many helpful answers I got in such a sort amount of time. I think I'm gonna go for it, but I'll wait until October since it's just right around the corner and it will put 3 months between my last inquiries instead of 2. Also I have an old inquiry from two years ago falling off the report completely in October.

 

I don't have any previous relationship with AMEX - but I'm curious as to the advantage to backdating. Does it have any benefits or does it just look cool to have "Member since '92" on your card?

 

Also - I bit the bullet and signed up for the free trail from myFico. I was pleasantly surprised that my real score was 758! However, I was surprised to see that there were no inquiries listed. Also my utilization was 12% Smiley Sad. I pay the balances in full every month, but I guess I'll have to pay sooner than when the statement closes.


it helps with AAoA, if you apply for a card this year, and your next card comes in 10 years the next card  will show up on your credit card report as a 10 year old  Helping AAoA a lot. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Moderator

Re: Hard Inquiries and AMEX


DailyGrind wrote:

Wow, thanks everyone! I can't believe how many helpful answers I got in such a sort amount of time. I think I'm gonna go for it, but I'll wait until October since it's just right around the corner and it will put 3 months between my last inquiries instead of 2. Also I have an old inquiry from two years ago falling off the report completely in October.

 

I don't have any previous relationship with AMEX - but I'm curious as to the advantage to backdating. Does it have any benefits or does it just look cool to have "Member since '92" on your card?

 

Also - I bit the bullet and signed up for the free trail from myFico. I was pleasantly surprised that my real score was 758! However, I was surprised to see that there were no inquiries listed. Also my utilization was 12% Smiley Sad. I pay the balances in full every month, but I guess I'll have to pay sooner than when the statement closes.


If you have sufficient income doesn't sound like you'll have an issue with obtaining a BCP.

 

As for inquiries, they don't get reported to every bureau, in general they only wind up on one of the three though there are some exceptions.  I'm just guessing since you use CS and see the inquiries there, you live somewhere on the West coast Smiley Happy.  Or at least further than the Mississippi though where the breakpoint is for TU's old stomping grounds to where EX was back in the pre-information age is unknown to me.

 

In any event, backdating is nothing but goodness as james points out.  If either you or Amex has a record of that card from '92, absolutely take advantage of it and get that Member Since date as '92.  

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Senior Contributor

Re: Hard Inquiries and AMEX

Ive heard on these forums that optimal reported utilization is 9% for your FICO.. so maybe try to make sure your reported util is at 9%...maybe pay a little bit more before the statement cuts as that statement balance is usually the balance reflected on your CRs.

 

Wish I could get the BCP!

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor

Re: Hard Inquiries and AMEX


Revelate wrote:

DailyGrind wrote:

Wow, thanks everyone! I can't believe how many helpful answers I got in such a sort amount of time. I think I'm gonna go for it, but I'll wait until October since it's just right around the corner and it will put 3 months between my last inquiries instead of 2. Also I have an old inquiry from two years ago falling off the report completely in October.

 

I don't have any previous relationship with AMEX - but I'm curious as to the advantage to backdating. Does it have any benefits or does it just look cool to have "Member since '92" on your card?

 

Also - I bit the bullet and signed up for the free trail from myFico. I was pleasantly surprised that my real score was 758! However, I was surprised to see that there were no inquiries listed. Also my utilization was 12% Smiley Sad. I pay the balances in full every month, but I guess I'll have to pay sooner than when the statement closes.


If you have sufficient income doesn't sound like you'll have an issue with obtaining a BCP.

 

As for inquiries, they don't get reported to every bureau, in general they only wind up on one of the three though there are some exceptions.  I'm just guessing since you use CS and see the inquiries there, you live somewhere on the West coast Smiley Happy.  Or at least further than the Mississippi though where the breakpoint is for TU's old stomping grounds to where EX was back in the pre-information age is unknown to me.

 

In any event, backdating is nothing but goodness as james points out.  If either you or Amex has a record of that card from '92, absolutely take advantage of it and get that Member Since date as '92.  


I agree with all the responses, the biggie is that your income supports the recent credit and AMEX feels you can handle more.   12% UTIL won't hold you back if the income is there, no worries from what I can see.