Reply
Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Opened 2 accounts recently - how long to wait to apply for my first Amex?

After being exclusive with my secured credit card, I got my first 2 unsecured cards in October: a Discover More with a $2,000 CL on October 5th, and a Bankamericard Travel Rewards Visa Signature with a $5,000 CL on October 22nd. My unsecured card has a $2,000 CL. So far, my Discover More hasn't been reported yet; Discover told me they don't report new accounts until after the first statement, which should close on Nov 25.

 

FYI, Bank of America does not report the credit limit of their Visa Signature cards, but does report the high balance.

 

So I'm wondering about the timing for my first Amex application. Would it be realistic to try before the end of the year? Should I apply before the Discover More account gets reported? How should I go about the Visa Signature to make my credit profile more appealing at the application time?

Any thoughts?

Valued Member
Zanarov
Posts: 43
Registered: ‎10-02-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

[ Edited ]

Most people are going to request you give :

Score

AAoA

And if you have any baddies for best answers

 

I recommend you apply in December to lock in your 2012 date. With the cards you have,  and what I assume to be your score to be around, you stand a good chance of being approved for any one of their cards so pick the one you want. 

 

Edit: To add to the below poster if you want 2 Amex cards apply for one in December and one in January, the January one will then date back to January 2012 instead of January 2013.

 

 

Frequent Contributor
koalablue
Posts: 336
Registered: ‎05-23-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

I'd apply for one of their charge cards after the Discover is on your credit report.  Would be nice if you could do it in December.  If you want a revolver then get the charge card, wait a few months, and apply for the revolver.  Good luck!

Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

Right, I was thinking of getting any Amex card by the end of the year to lock in the 2012 membership. I don't care what card I can get, as long as it is an Amex.

 

My other credit info is as follows:

 

Equifax score at the time of applying for the Bankamericard Visa Signature: 742 (BofA communicated this score to me)

MyFICO Equifax score at the same time: 699

MyFICO Equifax score now: 684 (when the Visa Signature is still reporting a balance of 0)

AAoA: 6 months

No baddied; I started from a blank slate

 

 

Moderator
Revelate
Posts: 8,329
Registered: ‎12-30-2011

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

You already have multiple inquiries, and frankly with the way Amex backdating works you definitely want to get in this year.

 

My opinion, and this isn't a conservative one I'll admit; however, apply right now before anything else reports.  You want the second shot at the apple in December 31 days later if you get denied, and it's worth spending two inquiries to obtain Amex membership given that they only effect one's credit score for one year, and the backdating is most relevant for the next four years when it comes to getting the membership date 2012 vs. 2013.  

 

Apply for the Green would be my recommendation.

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge
Contributor
RonDawg
Posts: 322
Registered: ‎10-19-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

[ Edited ]

HiLine wrote:

After being exclusive with my secured credit card, I got my first 2 unsecured cards in October: a Discover More with a $2,000 CL on October 5th, and a Bankamericard Travel Rewards Visa Signature with a $5,000 CL on October 22nd. My unsecured card has a $2,000 CL. So far, my Discover More hasn't been reported yet; Discover told me they don't report new accounts until after the first statement, which should close on Nov 25.

 

FYI, Bank of America does not report the credit limit of their Visa Signature cards, but does report the high balance.

 

So I'm wondering about the timing for my first Amex application. Would it be realistic to try before the end of the year? Should I apply before the Discover More account gets reported? How should I go about the Visa Signature to make my credit profile more appealing at the application time?

Any thoughts?


as of today Discover is 3 months behind reporting for me. I am not sure if I need to call and remind them that they still need to report lol

 

oh and btw... AmEx Green card is a good foot in the door with AmEx and if you act now you can back date on new cards from them.

AMEX Platinum, AMEX Blue cash (10k), AMEX Delta (10k), US Bank Premier Line (14.5k), US Bank Cash + (7.5k), Chase Freedom (5k), Fred Meyer Rewards Visa (7.5k), US Bank Flex Perks Travel Rewards (5k), Discover IT (9.5k), Chase Sapphire Preferred (8k), Alerus Financial Visa Signature issued by Elan (10k), BofA Cash Rewards (10k), Citi Thankyou Pref (6.5k) TU FICO Score = 807, EQ FICO Score = 780, EX FICO Score = 780,
CreditKarma score = 785, CreditSesame score = 773, Vantage = 903
Valued Member
Zanarov
Posts: 43
Registered: ‎10-02-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

The post below is pretty good advice, If you apply now and get denied you will be able to apply agian Dec 15 (If  you apply today, 30 days between apps) From what I've seen all amex Charge cards have the same basic criteria, so apply for the one you want. I'm also pretty sure you would be approved for any of thier charge cards as well..so If you want in give it ago, you get another chance in a month if your denied. 
Revelate wrote:

You already have multiple inquiries, and frankly with the way Amex backdating works you definitely want to get in this year.

 

My opinion, and this isn't a conservative one I'll admit; however, apply right now before anything else reports.  You want the second shot at the apple in December 31 days later if you get denied, and it's worth spending two inquiries to obtain Amex membership given that they only effect one's credit score for one year, and the backdating is most relevant for the next four years when it comes to getting the membership date 2012 vs. 2013.  

 

Apply for the Green would be my recommendation.

 

 


 

Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?


Zanarov wrote:
The post below is pretty good advice, If you apply now and get denied you will be able to apply agian Dec 15 (If  you apply today, 30 days between apps) From what I've seen all amex Charge cards have the same basic criteria, so apply for the one you want. I'm also pretty sure you would be approved for any of thier charge cards as well..so If you want in give it ago, you get another chance in a month if your denied. 
Revelate wrote:

You already have multiple inquiries, and frankly with the way Amex backdating works you definitely want to get in this year.

 

My opinion, and this isn't a conservative one I'll admit; however, apply right now before anything else reports.  You want the second shot at the apple in December 31 days later if you get denied, and it's worth spending two inquiries to obtain Amex membership given that they only effect one's credit score for one year, and the backdating is most relevant for the next four years when it comes to getting the membership date 2012 vs. 2013.  

 

Apply for the Green would be my recommendation.

 

 


 


So the opinions seem to favor applying for a Green charge card right now. Should I also try applying for a revolver card at the same time on the same credit .inquiry? SPG is the card I ultimately want to obtain, and I've heard the Delta Skymiles Gold is one of the easier to get...

 

Valued Member
Zanarov
Posts: 43
Registered: ‎10-02-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

Are you going to want 2 AMEX cards? If not then just apply for the SPG now, if you get denied then apply for the Green in Dec and wait a bit. (The green will lock in your date) 

 

If you just want the SPG go ahead and try, theres no reason to get a card you dont want. 

Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: Opened 2 accounts recently - how long to wait to apply for my first Amex?

My only concern is that Amex will look at my application less favorably if I have been denied in the past. But I might be overthinking it.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+