topic Re: How long should I wait to apply for a targeted Amex card? in Credit Card Applications

How long should I wait to apply for a targeted Amex card?

Anonymous — Sat, 29 Nov 2014 05:28:48 GMT

I recieved an offer letter for an Amex everday that Im tempted to apply for, but I also just secured a lease on a new condo in the last few weeks. Since the property manager (and a few other properties I applied for but did not accept) likely put in a hard pull, when is a good time to apply for the Amex? Thanks in advance

Re: How long should I wait to apply for a targeted Amex card?

Anonymous — Sat, 29 Nov 2014 05:52:25 GMT

@Anonymous wrote:
I recieved an offer letter for an Amex everday that Im tempted to apply for, but I also just secured a lease on a new condo in the last few weeks. Since the property manager (and a few other properties I applied for but did not accept) likely put in a hard pull, when is a good time to apply for the Amex? Thanks in advance

Now is the time to apply. Without knowing more info like scores, etc. it's impossible to give you accurate advice. Is the letter a pre approval or a generic letter about the card? The credit pull for your lease won't have a bearing unless you have a lot on Experian which is what AMEX pulls.

Re: How long should I wait to apply for a targeted Amex card?

Anonymous — Sat, 29 Nov 2014 15:29:05 GMT

The letter is a pre-screened offer of credit, so I don't know if thats the same thing as preapproval. I have unti Jan 19 2015 to apply with the details in this offer.

My experian FICO is 807 and I currently have the following lines of credit, oldest to most recent:

WF -$15,000 (2001)

Elan Financial -$15,000

Jcrew/Comenity - $900

Chase Student Loan (installment, owe about $3k)

C&B/Comenity - $3500

Macys/DSNB - $800 (opened 6/2013)

My goal is to have five prime cards with high limits and excellent rates, I was shocked at the low limit Macys gave me last year ($500 on their non-AMex store card) when I still had my only late payment from 7 years ago still on file, and I dont want to make the same mistake this time around now that its gone.

thanks

Re: How long should I wait to apply for a targeted Amex card?

CreditCuriosity — Sat, 29 Nov 2014 15:38:52 GMT

You can get any amex you want with that EX score other then the Black card of course. Of course don't forget about the 3xCLI within 61 days. So say they approve you on whatever card for just say 5k, in 61 days it could easily by 15k..

Re: How long should I wait to apply for a targeted Amex card?

elim — Sat, 29 Nov 2014 15:44:58 GMT

yesterday

Re: How long should I wait to apply for a targeted Amex card?

Creditaddict — Sat, 29 Nov 2014 15:59:25 GMT

@Anonymous wrote:
The letter is a pre-screened offer of credit, so I don't know if thats the same thing as preapproval. I have unti Jan 19 2015 to apply with the details in this offer.
My experian FICO is 807 and I currently have the following lines of credit, oldest to most recent:

WF -$15,000 (2001)
Elan Financial -$15,000
Jcrew/Comenity - $900
Chase Student Loan (installment, owe about $3k)
C&B/Comenity - $3500
Macys/DSNB - $800 (opened 6/2013)

My goal is to have five prime cards with high limits and excellent rates, I was shocked at the low limit Macys gave me last year ($500 on their non-AMex store card) when I still had my only late payment from 7 years ago still on file, and I dont want to make the same mistake this time around now that its gone.

thanks

Apply for Amex now?

I would request CLI on your Jcrew - keep hitting the CLI button online until you get 7-10 days... it may let you do it 1 time or 20 times (SP)

Same thing on C&B as Jcrew - CLI online until it says no (SP)

I would do a chat online with Macy's and ask for CLI (ask for $10k, they will instantly counter you) you could ask for the upgrade to amex also if you would like. the cli should be sp even though they tell you hp but if you ask for upgrade to amex that will be hp.

Re: How long should I wait to apply for a targeted Amex card?

mongstradamus — Sat, 29 Nov 2014 17:28:04 GMT

@Anonymous wrote:
The letter is a pre-screened offer of credit, so I don't know if thats the same thing as preapproval. I have unti Jan 19 2015 to apply with the details in this offer.
My experian FICO is 807 and I currently have the following lines of credit, oldest to most recent:

WF -$15,000 (2001)
Elan Financial -$15,000
Jcrew/Comenity - $900
Chase Student Loan (installment, owe about $3k)
C&B/Comenity - $3500
Macys/DSNB - $800 (opened 6/2013)

My goal is to have five prime cards with high limits and excellent rates, I was shocked at the low limit Macys gave me last year ($500 on their non-AMex store card) when I still had my only late payment from 7 years ago still on file, and I dont want to make the same mistake this time around now that its gone.

thanks

What is the particular offer you are getting offered is it an targetted amex offer or an standard public offer?

Re: How long should I wait to apply for a targeted Amex card?

Anonymous — Sat, 29 Nov 2014 18:47:13 GMT

Thank you for the replies:

__________________________________________________________________________________________________________________________________

From CreditCuriousity:

__________________________________________________________________________________________________________________________________

Can you elaborate on this a little? Assuming I am approved for 5k through your scenario, what is this 61 day rule? Do i need to request sp CLI immediately after approval?

From Creditaddict

Apply for Amex now?

I would request CLI on your Jcrew - keep hitting the CLI button online until you get 7-10 days... it may let you do it 1 time or 20 times (SP)

Same thing on C&B as Jcrew - CLI online until it says no (SP)

From what I understand, I can only do so many sp cli on a particular card in a year (maybe I'm being ultra cautious). I just discovered this site in March of this year, so thats when i first even realized that I should be increasing my limits as much as possible, so I increased the limits of each of my cards at that point to their current levels. That WF card had sat untouched at a $300 limit from 2001 when I was a college freshman until March 2014 when I made a hp to yank it up to 15k to match my other credit union credit card. so Im assuming I should wait until March 2015 to take on CLIs for Jcrew, C&B and Macys, especially the eventual upgrade to Macys AmEx.

As per the targeted AmEx offer, its for their new American Express Everyday. Am Ex has been "courting" me for a few months, as I see the nondisclosed inquiries once a month on my credit report, and this is one of the most attractive of several offers made to me with a Pre Selected application.

I wanted mainly to know, if I apply now for AmEx and am approved for whatever, will it be "risky" to seek that Macys upgrade in March, seeing as there have only been three hard inquiries in the whole year from my EX report, 1 from the WF hp CLI, one from my new landlord, and the 3 with the AmEx application. Will it be best to wait a whole other year?

Thanks in advance

Re: How long should I wait to apply for a targeted Amex card?

CreditCuriosity — Sat, 29 Nov 2014 19:13:22 GMT

@Anonymous wrote:
Thank you for the replies:
__________________________________________________________________________________________________________________________________
From CreditCuriousity:

You can get any amex you want with that EX score other then the Black card of course. Of course don't forget about the 3xCLI within 61 days. So say they approve you on whatever card for just say 5k, in 61 days it could easily by 15k..
__________________________________________________________________________________________________________________________________

Can you elaborate on this a little? Assuming I am approved for 5k through your scenario, what is this 61 day rule? Do i need to request sp CLI immediately after approval?

Thanks in advance

Read up on this.... It will expain in more detail.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

Re: How long should I wait to apply for a targeted Amex card?

Anonymous — Sat, 29 Nov 2014 20:47:28 GMT

You are a week behind, apply now ( unless you burned them before), with this FICO Score and nice income, you will over $10K at least.

Re: How long should I wait to apply for a targeted Amex card?

Creditaddict — Sat, 29 Nov 2014 22:18:40 GMT

@Anonymous wrote:
Thank you for the replies:
__________________________________________________________________________________________________________________________________
From CreditCuriousity:

You can get any amex you want with that EX score other then the Black card of course. Of course don't forget about the 3xCLI within 61 days. So say they approve you on whatever card for just say 5k, in 61 days it could easily by 15k..
__________________________________________________________________________________________________________________________________

Can you elaborate on this a little? Assuming I am approved for 5k through your scenario, what is this 61 day rule? Do i need to request sp CLI immediately after approval?

From Creditaddict

Apply for Amex now?
I would request CLI on your Jcrew - keep hitting the CLI button online until you get 7-10 days... it may let you do it 1 time or 20 times (SP)
Same thing on C&B as Jcrew - CLI online until it says no (SP)
I would do a chat online with Macy's and ask for CLI (ask for $10k, they will instantly counter you) you could ask for the upgrade to amex also if you would like. the cli should be sp even though they tell you hp but if you ask for upgrade to amex that will be hp.

From what I understand, I can only do so many sp cli on a particular card in a year (maybe I'm being ultra cautious). I just discovered this site in March of this year, so thats when i first even realized that I should be increasing my limits as much as possible, so I increased the limits of each of my cards at that point to their current levels. That WF card had sat untouched at a $300 limit from 2001 when I was a college freshman until March 2014 when I made a hp to yank it up to 15k to match my other credit union credit card. so Im assuming I should wait until March 2015 to take on CLIs for Jcrew, C&B and Macys, especially the eventual upgrade to Macys AmEx.

As per the targeted AmEx offer, its for their new American Express Everyday. Am Ex has been "courting" me for a few months, as I see the nondisclosed inquiries once a month on my credit report, and this is one of the most attractive of several offers made to me with a Pre Selected application.

I wanted mainly to know, if I apply now for AmEx and am approved for whatever, will it be "risky" to seek that Macys upgrade in March, seeing as there have only been three hard inquiries in the whole year from my EX report, 1 from the WF hp CLI, one from my new landlord, and the 3 with the AmEx application. Will it be best to wait a whole other year?

Thanks in advance

NOPE! (sorry, but a good thing to be wrong on because now you can go apply!!!)

1. Go online and hit the CLI's button for your Comenity backed cards until it gives you a 7-10 day message!

2. you can ask Wells Fargo if your account has any SP CLI available on it (something new they started earlier this year) I would not waste a HP with them anytime soon but checking for sp cli's are all good.

3. you need to apply for the amex that you want already... like yesterday!

4. no seeking the macy's upgrade will not be risky to the real amex you get... but request CLI for $10k and take the counter BEFORE you request the Amex upgrade.