Reply
Regular Contributor
Posts: 227
Registered: ‎03-12-2008
0

How many new accounts is too many for AMEX

I currently have a green and blue amex.  I've had the blue since 5/1/2008 and the green since 6/1/2008.  Since then I have opened 2 new chase cards, chase freedom and chase platinum.

 

I would like to have a store card but I'm afraid i'll awake the AMEX beast from it's slumber.  Should I take the chance and apply for a store card or wait?  If you think I should wait how long would you suggest?

As of Jan 2009: EX - 659 EQ - 666 TU - 681

As of 2/13/09: EX - 648 (My last EX Fico)
Contributor
Posts: 88
Registered: ‎03-05-2007
0

Re: How many new accounts is too many for AMEX

I think it would'nt be a problem opening a store card, from what I see you don't have any, it will hurt a little bit for the inquiry and age of accounts but in the long run, it will help your mix. I do have a number of cards from diff. banks and AMEX. in fact, I've applied 3 of my cards the same year I got my amex. I'd say go for it..
Current Fico Score
EX: 660 EQ: 680 TR: 690
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007

Re: How many new accounts is too many for AMEX

I wouldn't open a new account without anticipating a quick FR from Amex. Multiple accounts opened in the same time frame is a definite red flag. I got FR'd the second I got approved for Amex number two.
Here we go again...
Established Member
Posts: 18
Registered: ‎03-05-2008
0

Re: How many new accounts is too many for AMEX

For what it's worth, I went on an app spree back around March: got cards from BOA, CITI and an AMEX Blue. In July I had to buy a new TV and I financed through BBuy w/their store card for the 3/yr 0% offer. In less than a week after opening the BBuy acct, AMEX was pulling my report. They have reviewed my acct twice since. No CLD or cancelled card YET. Still nervous it's coming though.
TU/724 EX/710 EQ/718
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: How many new accounts is too many for AMEX

Do you pif your Amex cards?

Is your EX score over 750?

 

 

Frequent Contributor
Posts: 277
Registered: ‎10-21-2008
0

Re: How many new accounts is too many for AMEX

I opened a Citi, BoA and a gas card within a week of each other recently and AMEX didn't blink, but I do PIF my cards each month, and my FICOs are 750+....

 

 

Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
0

Re: How many new accounts is too many for AMEX


writemikep wrote:

I opened a Citi, BoA and a gas card within a week of each other recently and AMEX didn't blink, but I do PIF my cards each month, and my FICOs are 750+....

 

 


Wait till your Father gets home. They'll most likely get around to it don't worry. The crunch gets deeper every day.

Established Contributor
Posts: 832
Registered: ‎03-20-2008
0

Re: How many new accounts is too many for AMEX


sammyfire2001 wrote:

I currently have a green and blue amex.  I've had the blue since 5/1/2008 and the green since 6/1/2008.  Since then I have opened 2 new chase cards, chase freedom and chase platinum.

 

I would like to have a store card but I'm afraid i'll awake the AMEX beast from it's slumber.  Should I take the chance and apply for a store card or wait?  If you think I should wait how long would you suggest?


 

I'm pretty sure if you even look at an app Amex will cld you.:smileywink: Seriously that would be 3 new accounts in about 6 months, right now AE is really cutting deep. Unless you absolutely have to have a store card I wouldn't try unless you don't mind AE going Sybil on you.
Contributor
Posts: 88
Registered: ‎04-05-2008

Re: How many new accounts is too many for AMEX

[ Edited ]
This year I've opened 7 new cards, a mortgage refi, and a small real estate loan, and Amex hasn't blinked yet.  They soft me every month or so, but they seem content with me. 
Message Edited by LaserBlue on 11-27-2008 08:19 PM
Scores on4/8/10: TU 731 EQ 731
Unapologetic Amex fan
Established Contributor
Posts: 720
Registered: ‎05-04-2007
0

Re: How many new accounts is too many for AMEX

AmEx is completely unpredictable. They have performed an F/R or CLD on customers in virtually every possible set of circumstances. Other customers, like LaserBlue, seem to stay completely under their radar. But it is a bit ludicrous for AmEx's possible reaction to become the deciding factor in every move.

 

Do what you need to do for your financial progress. Just have a Plan B in case AmEx reacts bizarrely. Anyone who thinks they can forsee what AmEx will do in a given situation is delusional ... :smileyhappy:

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

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.