topic Amex current card holder and app for another amex? in Credit Card Applications

Amex current card holder and app for another amex?

Anonymous — Sat, 06 Dec 2014 18:32:22 GMT

First time poster. I’m a current amex card holder and knowing that they only do a hard pull if they approve you, I decided to app for the BCE. But before doing so I paid of over $45000 in credit card debt spread over 3 cards and paid off all the other credit cards that I usually let report on my experian report which is always between 8-10 cards reporting a balance on my experian report. Anyways in October my experian fico score was 640ish because of high utilization and many cards reporting a balance. After I got everything taken care of and only let 2 cards report a balance and utilization went from 60% to 3% my fico shot up to 734 on 11/28 when everything updated on my experian report. On 11/28 I went ahead and apped for the BCE and got instant decline. I though huh ok at least it will be a soft pull. Checked my experian report the next day and it was a soft pull on 11/28 from amex for the decline. Got the letter today stating that the only reason for the decline was my experian fico score of 645 on 11/8. Ok, but I apped on 11/28 so why didn’t they go off they score on the day I applied? So if you’re a current amex card holder and you decide to app for another card do they always go off the report they get from the last time they softed you? Sure looks like it to me. And yes I see that utilization and letting balances report over 8-10 cards has a big effect on fico scores.

Re: Amex current card holder and app for another amex?

Anonymous — Sat, 06 Dec 2014 18:54:16 GMT

@Anonymous wrote:
First time poster. I’m a current amex card holder and knowing that they only do a hard pull if they approve you, I decided to app for the BCE. But before doing so I paid of over $45000 in credit card debt spread over 3 cards and paid off all the other credit cards that I usually let report on my experian report which is always between 8-10 cards reporting a balance on my experian report. Anyways in October my experian fico score was 640ish because of high utilization and many cards reporting a balance. After I got everything taken care of and only let 2 cards report a balance and utilization went from 60% to 3% my fico shot up to 734 on 11/28 when everything updated on my experian report. On 11/28 I went ahead and apped for the BCE and got instant decline. I though huh ok at least it will be a soft pull. Checked my experian report the next day and it was a soft pull on 11/28 from amex for the decline. Got the letter today stating that the only reason for the decline was my experian fico score of 645 on 11/8. Ok, but I apped on 11/28 so why didn’t they go off they score on the day I applied? So if you’re a current amex card holder and you decide to app for another card do they always go off the report they get from the last time they softed you? Sure looks like it to me. And yes I see that utilization and letting balances report over 8-10 cards has a big effect on fico scores.

Because you already have an Amex card they do periodic soft pulls whether you are applying for a card or not. More than likely they did one on the 18th and based their decision on that one. You can always give them a call and see if they will reconsider based on them doing a HP

Re: Amex current card holder and app for another amex?

Anonymous — Sat, 06 Dec 2014 19:04:01 GMT

@Anonymous wrote:
@Anonymous wrote:
First time poster. I’m a current amex card holder and knowing that they only do a hard pull if they approve you, I decided to app for the BCE. But before doing so I paid of over $45000 in credit card debt spread over 3 cards and paid off all the other credit cards that I usually let report on my experian report which is always between 8-10 cards reporting a balance on my experian report. Anyways in October my experian fico score was 640ish because of high utilization and many cards reporting a balance. After I got everything taken care of and only let 2 cards report a balance and utilization went from 60% to 3% my fico shot up to 734 on 11/28 when everything updated on my experian report. On 11/28 I went ahead and apped for the BCE and got instant decline. I though huh ok at least it will be a soft pull. Checked my experian report the next day and it was a soft pull on 11/28 from amex for the decline. Got the letter today stating that the only reason for the decline was my experian fico score of 645 on 11/8. Ok, but I apped on 11/28 so why didn’t they go off they score on the day I applied? So if you’re a current amex card holder and you decide to app for another card do they always go off the report they get from the last time they softed you? Sure looks like it to me. And yes I see that utilization and letting balances report over 8-10 cards has a big effect on fico scores.
Because you already have an Amex card they do periodic soft pulls whether you are applying for a card or not. More than likely they did one on the 18th and based their decision on that one. You can always give them a call and see if they will reconsider based on them
@Anonymous wrote:
@Anonymous wrote:
First time poster. I’m a current amex card holder and knowing that they only do a hard pull if they approve you, I decided to app for the BCE. But before doing so I paid of over $45000 in credit card debt spread over 3 cards and paid off all the other credit cards that I usually let report on my experian report which is always between 8-10 cards reporting a balance on my experian report. Anyways in October my experian fico score was 640ish because of high utilization and many cards reporting a balance. After I got everything taken care of and only let 2 cards report a balance and utilization went from 60% to 3% my fico shot up to 734 on 11/28 when everything updated on my experian report. On 11/28 I went ahead and apped for the BCE and got instant decline. I though huh ok at least it will be a soft pull. Checked my experian report the next day and it was a soft pull on 11/28 from amex for the decline. Got the letter today stating that the only reason for the decline was my experian fico score of 645 on 11/8. Ok, but I apped on 11/28 so why didn’t they go off they score on the day I applied? So if you’re a current amex card holder and you decide to app for another card do they always go off the report they get from the last time they softed you? Sure looks like it to me. And yes I see that utilization and letting balances report over 8-10 cards has a big effect on fico scores.
Because you already have an Amex card they do periodic soft pulls whether you are applying for a card or not. More than likely they did one on the 18th and based their decision on that one. You can always give them a call and see if they will reconsider based on them doing a HP
That's what I was thinking. They based their decision on current amex card holder on the last time they softed you no matter what day you decide to app for another card on. It's just an interesting fact to know. But what if you are approved? Do they still go off of the last time the softed you or off of the report they should be pulling that day of the app?

Re: Amex current card holder and app for another amex?

NRB525 — Sat, 06 Dec 2014 19:25:51 GMT

My understanding is, yes SP if they deny, but HP if they approve, so since you want the approval, you are facing a HP anyway, ergo the best next step is to call AMEX and request the do a HP to update their credit file for this app.

Good luck! And thanks for the info on utilization boosting your score. That's my future strategy

Re: Amex current card holder and app for another amex?

TheGardner — Sat, 06 Dec 2014 20:41:31 GMT

Wait the 30'days and try again that will prevent wasting a HP if still denied which is possible if they are worried about how long you carried balances.