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Hi guys I'm new to this bored but I could really use your guys help. I'm 20 years old and have been working on my credit ever since turning 18. I have been extremely careful about using credit and when I charge something I try to pay it off within the month and If I don't, I will pay it off within the next month. I have been looking into getting an American Express charge card for a while now. Last night after looking through their website, I noticed that I was preapproved for the American Express Gold Card. I submitted a application but while the App was submitting, the power went out, and came back on about 5 min later. I went back to the American Express website and looked up my application, they said that they had no record of my name anywhere, so I assumed that the app hadn't gone though before the power went out. After checking out their website some more I decided that the ZYNC card seemed to be a better fit for me, plus I can better afford the $25 fee than I can the $125 fee, so I applied for to. Well This morning when checking my email I had received two emails form Amex telling me that I had been approved for both the Gold card and the ZYNC card... Now I'm not sure what to do, my credit has already taken hits for both the cards. I don't make or spend enough money to take advantage of having both cards. Should I simply activate one card? Or should I call Amex and tell them what happened and see if they will somehow remove the hard pull.... Or should I give both cards a try and drop the one that I like the least after the first year? Any advice you guys can give me will be appreciated. Btw I already have 10 credit cards with a mix of credit from banks and stores so I'm not hurting for credit, I simply want the rewards.
Well, I once accidentally sent in my Chase Freedom App twice within the span of 5 minutes. It only recorded one hard pull.
I talked to Discovery (Which I will never apply for, 3 hard pulls and no acceptances) and usually if you apply twice with the same company within 10 - 20 days, it will record as only one hard pull. I've checked my report for the month and Chase only had a single hard pull.
So, my suggestion is to call anyways and see if they will take it off (though I doubt they will, they only do so if it was fraud) and check your credit report to see if it is 2 hard pulls.
As for which one you want, I would keep both, but if the yearly fee is too much for both, than depends which one offers more of what you want.
Check your CR to be sure, but in my experience, multiple apps in one day from AmEx only result in one inquiry.
EDIT: And I'd keep both cards, especially since they waive the AF for the first year on Gold. As I understand it, when you have one charge card that is signed up with Membership Rewards (Gold), your Membership Rewards Express points (which is what Zync gives) are converted to real MR points. And unless something has changed, Zync has a 10,000 point sign up bonus which is a $100 gift card through MR.
Amex typicaly only pulls one inquiry for applications on the same day. You likley don't have a second hard pull.
You may want to keep both and convert 1 to a no AF card after 1 year.
Thanks for the help, I will probably keep both cards to see which one I like better. Is it ture that you can upgrade your card to a no fee card after one year?
If you have a gold premium rewards card, let me know ASAP. New members of gold PR are eligible for a 75000 point bump by AMEXs good graces, which is equal to 750 bucks at home depot or even more via air miles and transfer bonus...
Do tell.