@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.
@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.
Starting Score: ~500 (12/01/2008)