? should I apply for one more credit card / or not?

[Anonymous]

HI focused,

I am not an expert, but I am a long time lurker. My advice to you is to get not just one card, but add at least three more. You already have an Amex. With your scores and an existing 25K limit and low utilization and inquiries, I think you would easily be approved. I am assuming that you have an amex charge. If I were you I would add an Amex Blue Preferred and use it for all groceries etc expenses. Then I would add the Delta Gold Amex or Blue Sky and either an SPG and or Hilton Honors. Apply for  all three on the same day and Amex will only use one credit pull. Plus when the approve the cards  make sure they back date them to the opening date of your initial Amex membership. That way you don't lose AAoA, you will increase it. Plus the added credit limit will decrease your utilization. Increased AAofA, more premium cards, Increased CL, decreased utilization, all add up to a win win situation for you. Don't be afraid of a FR and if you are turned down call for a recon. I added the SPG and Delta and was initially denied the SPG but on recon I was approved. They backdated both cards to my Amex membership year of 1985. My Fico's went from the 720's to the 770's.

[MarineVietVet]

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@annalog wrote:

You asked alot of questions.....

First:  you should be more concerned with your creditors lowering your CL because you pay late than anything else.

You should focus on paying your balances in full right after your statement closes (or before preferrably).

Second: debit cards are not reported to credit bureaus.

Third:  you've reached $50k in available credit, so any additional cards will not improve your score, since your utilization is low and you have more than one card with a high CL.

Fourth: Do nothing, pay your bills on time and watch your score rise over time.  Don't apply for anything until your score is again in the low 800s.  Clear out all of your inquries on your bureau.

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I've seen you post this dollar amount before. Is there something special about the $50,000 CL? This is the first time I've ever read about a certain sweet spot for CL's.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[mandrake]

I am confused here

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Apply for  all three on the same day and Amex will only use one credit pull. Plus when the approve the cards  make sure they back date them to the opening date of your initial Amex membership. That way you don't lose AAoA, you will increase it. Plus the added credit limit will decrease your utilization.

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So are you telling the CSRs to backdate the application before or after they approved the application? Is this legal?

[haulingthescoreup]

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@mandrake wrote:

I am confused here

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Apply for  all three on the same day and Amex will only use one credit pull. Plus when the approve the cards  make sure they back date them to the opening date of your initial Amex membership. That way you don't lose AAoA, you will increase it. Plus the added credit limit will decrease your utilization.

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So are you telling the CSRs to backdate the application before or after they approved the application? Is this legal?

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Hi, welcome to the forums!

In case you didn't notice, you posted on a thread from back in May 2011. That's OK, but do realize that the info in the thread may not be correct any longer, and many of the posters may no longer be active here.

Anyway, AmEx automatically backdates new cards to your original card date. They use the "member since" date. This is their decision, and therefore it is completely legal.