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Established Member
JCAD42885
Posts: 21
Registered: ‎12-11-2008
0

Limit to AMEX accounts?

Hello,

 

I recently learned about the PenFed Premium Travel AMEX: https://www.penfed.org/productsandrates/creditcards/amex.asp. It looks like a pretty amazing card, and as I live abroad, the travel rewards and $0 forex fee are particularly appealing.

 

I have great credit (797) and a respectable income, so I'm not concerned about qualifying per se. However, I currently own four AMEX card accounts: a gold something, a Starwood card, a Delta, and a Hilton. I use them all regularly or least periodically, though I don't carry any balances.

 

I know some CC companies set limits on the number of accounts they will allow customers to open. Does anyone know whether AMEX sets such limits? I haven't applied for a card in awhile, but I don't want to waste a hard pull on my CR. Five accounts with one card company seems like a lot....

 

So as much as I covet this PenFed card, I don't want to apply if I'm not very confident that AMEX will approve me...

 

Thoughts?

Valued Contributor
scottwagnon
Posts: 1,350
Registered: ‎02-07-2010
0

Re: Limit to AMEX accounts?

[ Edited ]

you are talking apples to oranges. every credit card has a bank issuer and network. you could have many amex cards, and no centurion bank cards. your penfed amex is just that. penfed is the issuing bank and american express is the network placed for the card. however if you have a STARWOOD PREFFERED AMEX, this is actually a centurion bank issued american express card. i dont know what the limit is on the amount of cards you can carry, but if there is a limit, penfed amex wouldn't have anything to do with it.

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New Contributor
cantex
Posts: 70
Registered: ‎10-07-2008
0

Re: Limit to AMEX accounts?

Well, if it helps I have 6 Amex cards of which the Penfed Travel Rewards is one of the six.  Plus, I have nowhere near the score that you covet.  I love the card since I've probably taken 4 flights already with the card by taking advantage of point multiplier promotions and almost at another domestic ticket award.  I live overseas as well and the zero FTF is a plus.  The downside is not everyone takes Amex due to the cost to the merchant.

Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
0

Re: Limit to AMEX accounts?


JCAD42885 wrote:

Hello,

 

I recently learned about the PenFed Premium Travel AMEX: https://www.penfed.org/productsandrates/creditcards/amex.asp. It looks like a pretty amazing card, and as I live abroad, the travel rewards and $0 forex fee are particularly appealing.

 

I have great credit (797) and a respectable income, so I'm not concerned about qualifying per se. However, I currently own four AMEX card accounts: a gold something, a Starwood card, a Delta, and a Hilton. I use them all regularly or least periodically, though I don't carry any balances.

 

I know some CC companies set limits on the number of accounts they will allow customers to open. Does anyone know whether AMEX sets such limits? I haven't applied for a card in awhile, but I don't want to waste a hard pull on my CR. Five accounts with one card company seems like a lot....

 

So as much as I covet this PenFed card, I don't want to apply if I'm not very confident that AMEX will approve me...

 

Thoughts?


Someone will correct me (hopefully kindly) if I'm totally incorrect.  But.. since your AMEX cards are from different banks (not directly through AMEX), you may be looking at a "too many visa's" situation.  You have 1 AMEX (the gold from what I can tell, I'm not sure of the other 3) that sounds like it's from Centurion Bank (which is AMEX itself).  Usually if you're in good with AMEX, 4 cards is hardly unusual from different issuers with AMEX managing the account (non-Centurion Bank issuers). 

 

PenFed itself is very helpful on the phone, if you're already a member (even if not actually), you could call and ask them, explain you have 4 AMEX managed cards but would really like to add their AMEX product.  From what you give for info, both AMEX and PenFed like that kind of history and score (ESP with verifiable income to support the accounts). Frankly, I'd be more concerned about PenFed than AMEX approving.  Sounds like AMEX already likes you a lot (although I don't know your CLs with them).

 

Being PenFed works with AMEX (issues one or more of their cards), they'd really be the ones to ask, sort of like this:

"I'm very interested in your AMEX product whichever one because your reason, do you know if AMEX limits the number of accounts a person can have with their logo? I'd like to know  if adding another might be a problem before applying"

 

PenFed CSRs are....  well, in my experience (and others from what I've read) a standard other card CSRs could only dream of matching. Usually very personable, down to earth and helpful.

 

I should mention, PenFed doesn't like too many inq's or a short history (not sure where you stand there so thought I'd mention it).  I'd say 3 and 3 might be the magic there.

Established Contributor
KIPPIE12
Posts: 620
Registered: ‎05-09-2009
0

Re: Limit to AMEX accounts?

Provided you pass PenFed's credit criteria for card issuance,  having another Amex product shouldn't be any problem for you.  PenFed is only authorized to issue their brand of Amex pursuant to a LICENSE from American Express.  Many banks offer their own co-branded versions of this card, and it's up to that particular issuer, and not Amex proper. 

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Regular Contributor
flyingmd
Posts: 219
Registered: ‎06-17-2011
0

Re: Limit to AMEX accounts?

The Penfed card has absolutely nothing to do with AMEX other than using their network for processing their transactions. AMEX will not know you have the card. All servicing of the account is done through Penfed not AMEX. AMEX will not consider it in whether or not you have "too many cards" with AMEX. I know its confusing sometimes because AMEX does have a few co-branded cards (like their Starwood card) which are TRUE AMEX cards and serviced through AMEX. So the long and short is that whether or not you qualify for the card is totally up to Penfed, not AMEX.

Established Member
JCAD42885
Posts: 21
Registered: ‎12-11-2008
0

Re: Limit to AMEX accounts?

Thank you all for the helpful advice! I guess I didn't understand the difference between a "true AMEX" and a card that simply operates on their network. However, that makes a lot of sense...

 

 

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Limit to AMEX accounts?


RyVision wrote:

Someone will correct me (hopefully kindly) if I'm totally incorrect.  But.. since your AMEX cards are from different banks (not directly through AMEX), you may be looking at a "too many visa's" situation.  You have 1 AMEX (the gold from what I can tell, I'm not sure of the other 3) that sounds like it's from Centurion Bank (which is AMEX itself).  Usually if you're in good with AMEX, 4 cards is hardly unusual from different issuers with AMEX managing the account (non-Centurion Bank issuers). 

 

PenFed itself is very helpful on the phone, if you're already a member (even if not actually), you could call and ask them, explain you have 4 AMEX managed cards but would really like to add their AMEX product.  From what you give for info, both AMEX and PenFed like that kind of history and score (ESP with verifiable income to support the accounts). Frankly, I'd be more concerned about PenFed than AMEX approving.  Sounds like AMEX already likes you a lot (although I don't know your CLs with them).

 

Being PenFed works with AMEX (issues one or more of their cards), they'd really be the ones to ask, sort of like this:

"I'm very interested in your AMEX product whichever one because your reason, do you know if AMEX limits the number of accounts a person can have with their logo? I'd like to know  if adding another might be a problem before applying"

 

 



All 4 of the OPs cards are issued directly by Amex.

 

You don't need to ask Penfed this question.  While Penfed will evaluate how much total revolving credit you have available to you in making their own determination about approval and initial CL, Amex does not limit the number of cards a person can have that use their payment network. 


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Established Member
JohnB222
Posts: 41
Registered: ‎09-05-2011
0

Re: Limit to AMEX accounts?

Just an FYI...ALL PenFed Credit Cards have no foreign transaction fees, so you may want to look at a different PenFed card possibly instead...

Amex Blue Cash Everyday - 22k CL | Chase Hyatt - 15k CL

PenFed Platinum Rewards - 12k CL | Chase Sapphire Preferred - 8k CL | Chase Freedom - 5k CL

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