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Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
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will amex shut me down for too many new accounts?

i have an amex blue cash. i am doubting they would do this but just curious.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: will amex shut me down for too many new accounts?

How many is "too many", and in what time frame?

 

How long have you had the Blue Cash?

 

How long have you had CC's in general? (college age vs 30 years of credit history)

 

Are you going to let balances report on any of the new cards?

 

The rule of thumb with American Express is don't startle them with any sudden moves until they've gotten used to you.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Mercy
Posts: 18
Registered: ‎11-12-2010
0

Re: will amex shut me down for too many new accounts?

How many new accounts have you opened?

Senior Contributor
score_building
Posts: 3,552
Registered: ‎01-10-2008
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Re: will amex shut me down for too many new accounts?

[ Edited ]

Many issuers, including Amex may object in the form of AA, if they decide a card holder has been opening up 'too many new accounts.'

 

 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
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Re: will amex shut me down for too many new accounts?

what is AA?

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
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MarineVietVet
Posts: 14,153
Registered: ‎07-14-2009
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Re: will amex shut me down for too many new accounts?

 


scottwagnon wrote:

what is AA?


AA=Adverse Action such as account closure, CLD, etc.

 

Here is a list of commonly used Abbreviations.


 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

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

Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
0

Re: will amex shut me down for too many new accounts?

ouch... i bet im cooked. i only had one bank card reporting when i was approved for amex blue cash on october 12. i have been approved for 7 other bank cards since then. yikes. i knew that this was not a good idea, but it didn't hit home until now.

 

my total debt across all of my 12 accounts is only 600 dollars. it was close to 2000 when i was approved for amex blue cash. i have been PIF on most of my cards, including amex blue cash. so i don't know what will happen now.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Established Contributor
mross1080
Posts: 527
Registered: ‎04-21-2010
0

Re: will amex shut me down for too many new accounts?

Just be ready for the FR. Amex loves them. They check your previous 2 years of tax returns. As long as you where truthful on your application and your truthful to the rep who asks you questions you should be fine. Not saying your going to get a FR just be prepared if you do. I dont think ive read about anyone getting there account closed with matching info to back up income. At worst a spending limit cap. I know how much fun it is to go app crazy its hard to stop when your on a roll.

Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
0

Re: will amex shut me down for too many new accounts?

i thought FR was for amex charge cards.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Established Contributor
mross1080
Posts: 527
Registered: ‎04-21-2010
0

Re: will amex shut me down for too many new accounts?

No they do it to all accounts. Charge, Credit, and Business


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