09-12-2011 10:34 AM
One feedback on my EX and TU CR is that I'm not the primary cardholder on enough of my revolving accounts. They suggested I obtained more revolving credit...weird! So my DH go a Citi with CL 10,000 and I got a Citi with CL $7200 in August. Neither of us have applied for credit since 2007. So today, my FICO TU CR say my amount of new credit is good, instead of great as last month. My score has increased 28 points since Aug 13th, and I expect it to increase further in the next week or so. Combined with being an AU, I have 8 cards. 4 aren't used, the rest are PIF monthly. I'm the AU on 3 accounts. I want to get an Amex (blue everyday) to use as my primary card and just be done with cc. I've been getting preapproval notices out the wazoo for a while (lower CS). I was thinking of applying once my TU issues have reported. Should I go ahead or should I just wait? I have no idea what my real EX score is...
I know 8 seems like a lot, but 1/2 of them have a balance less than $3000.
Thanks for any ideas.
09-12-2011 11:32 AM
Were the preapproved offers from AMEX for the BCE or for other products from other lenders? Although you shouldnt put a lot of weight in the pre-approvals themselves if they have the "OPT OUT" language on them it would suggest you fall in to their basic criteria for a potential cardmember.
Charge products are the easiest to get however it really depends on how you plan to utilise your credit as to if it makes sense to add one to your credit profile. I`d say if you can show low utilisation and dont have significant balances on multiple cards, no lates or CO's a BCE may be a possibility.
IMO taking a hard with your scores probably would not impact your score much, even if you were denied, unless you have a significant amount of inquries already.
09-12-2011 12:09 PM
Thanks for the input. I didn't see any opt out disclosure, but I really wasn't looking. It was a thick packet of all the benefits amex offer. One is for the gold and the others are for blue fly. I have 1 inquiry on EQ from 3/2011 that I don't know where it came from. So I asked for details...it may fall off because I know I haven't applied for credit in years! I think I will try for 2 in one day in hopes of just getting 1 inquiry and see how it goes. It won't be the end of the world if I get declined, I will just know where I stand.
09-12-2011 12:14 PM
I say go for it. Pick a card from Amex and with your credit history, I am sure they will approve you. I've seen ppl with more inquiries, higher util % and a shorter AAoA get approved by Amex. In the end, you don't know til you try. Keep in mind Amex likes to pull EX and sometimes TU too.
09-12-2011 12:17 PM - edited 09-12-2011 12:19 PM
No worries, all the preapproved offers I have ever recieved from AMEX had the "opt out" disclosure on them, I had preapprovals for Amex Gold, Amex Green, Amex Blue Sky, Amex Blue Cash....You dont need to worry about anything but EX IMO they won't see that Inquiry on EQ.
I would say hit the big red button, theres a prize everytime! even if its just a free copy of your credit report.