topic Re: Recent Approvals - too soon to apply for more AmEx cards? in Credit Card Applications

Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:20:55 GMT

Hi,

I got approved for the AmEx Gold on May 4, and applied and got instant approvals for the AmEx Platinum from Charles Schwab, Blue Cash Everyday (CL $1k) and the AmEx Business Amazon Prime (CL $3k) on May 26.

A week later, until today, I continue to get pre-approved for every AmEx card, and Upgrades. I had already provided AmEx with my tax returns prior to approval.

1) Is it too soon to apply for more AmEx personal and Business cards?

2) How many can I apply for?

I have been receiving pre-selected mailers from Citibank for three of their credit cards during the past six weeks.

3) Should I pull the trigger, or wait?

I opened an new personal and business checking account with BOfa two months ago, and today I see a "Your Special Business offer for their Business Advantage Customized Cash Rewards MC in the 'open an account tab".

4) Is this a SP or HP?

5) Is it a pre-approval?

My current cards are:

AmEx Platinum (Charles Schwab) Approved in May 2021

AmEx Gold Approved in May 2021

AmEx Blue Everyday - $1k Approved in May 2021

Apple Card: $4k Approved in April 2021

Discover It: $3k Approved in April 2021

Discover It: $1,500k Approved in April 2019

Wells Fargo Cash Wise: $2k Approved in May 2021

Good Sam Rewards: $2,500k Approved in Jan 2021

Express: $1,250 Approved in Sept 2020

William Somoma Store Card: $9k Approved in Sept 2020

Exp: 736

Inq: 6, 3 fall off in July 2021

EQ: 727

Inq: 2

TU: 717

Inq: 3 (one falls off in July 2021)

Utilization: 1%

Average Age of Accounts: 1 year 11 months

Sorry for the long post. Thank you!

Re: Recent Approvals - too soon to apply for more AmEx cards?

Elpadrino1 — Fri, 04 Jun 2021 02:21:46 GMT

Congratulations on your approvals!

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:22:01 GMT

Thanks.

Re: Recent Approvals - too soon to apply for more AmEx cards?

babygirl1256 — Fri, 04 Jun 2021 02:22:17 GMT

Congrats on your successful approval spree!!!

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:30:13 GMT

@babygirl1256 wrote:
Congrats on your successful approval spree!!!

Thanks.

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:30:39 GMT

@Elpadrino1 wrote:
Congratulations on your approvals!

Thanks.

Re: Recent Approvals - too soon to apply for more AmEx cards?

Brian_Earl_Spilner — Fri, 04 Jun 2021 02:32:36 GMT

They'll approve as many as your income and profile can support. If your income is exceptional, card limits don't apply to you.

Re: Recent Approvals - too soon to apply for more AmEx cards?

FinStar — Fri, 04 Jun 2021 02:35:25 GMT

@AGG-LA2020 wrote:
Hi,

I got approved for the AmEx Gold on May 4, and applied and got instant approvals for the AmEx Platinum from Charles Schwab, Blue Cash Everyday (CL $1k) and the AmEx Business Amazon Prime (CL $3k) on May 26.

A week later, until today, I continue to get pre-approved for every AmEx card, and Upgrades. I had already provided AmEx with my tax returns prior to approval.
1) Is it too soon to apply for more AmEx personal and Business cards? Typically, the 'soft' rule on revolvers (personal and/or biz) 2 approvals in 90 days. If your profile is fairly established with AmEx, they can approve additional revolvers. Your $1K (personal) and $3K (business) -- regardless of tax info you may have provided -- may or may not yield more in your favor in a very short time.
2) How many can I apply for?

I have been receiving pre-selected mailers from Citibank for three of their credit cards during the past six weeks.
3) Should I pull the trigger, or wait? Pre-selected invitations are not pre-approved offers, even with a RSVP code, opt-out language, etc. This is simply targeted marketing. You can take a gamble and see.

I opened an new personal and business checking account with BOfa two months ago, and today I see a "Your Special Business offer for their Business Advantage Customized Cash Rewards MC in the 'open an account tab".
4) Is this a SP or HP? It will be a HP - these are never SP.
5) Is it a pre-approval? To an extent that you may been pre-screened at some point in the past ~60 days. The HP will confirm whether you can still qualify for the offer, or be offered an alternate product (e.g. secured with a CD).

My current cards are:
AmEx Platinum (Charles Schwab) Approved in May 2021
AmEx Gold Approved in May 2021
AmEx Blue Everyday - $1k Approved in May 2021
Apple Card: $4k Approved in April 2021
Discover It: $3k Approved in April 2021
Discover It: $1,500k Approved in April 2019
Wells Fargo Cash Wise: $2k Approved in May 2021
Good Sam Rewards: $2,500k Approved in Jan 2021
Express: $1,250 Approved in Sept 2020
William Somoma Store Card: $9k Approved in Sept 2020

Exp: 736
Inq: 6, 3 fall off in July 2021

EQ: 727
Inq: 2

TU: 717
Inq: 3 (one falls off in July 2021)

Utilization: 1%
Average Age of Accounts: 1 year 11 months

Sorry for the long post. Thank you!

Personally, I would hold off on any more apps for a while. Although, you do you, but at this point, you are risking potential denials and/or very low limit approvals, if anything -- I could be wrong, but your AAoA and 7 new accounts in the past 6 months would give any potential lender some pause. One thing to keep in mind, AmEx cards (except for biz versions) are starting to report quicker than in the past so there is that to consider.

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:36:05 GMT

@Brian_Earl_Spilner wrote:
They'll approve as many as your income and profile can support. If your income is exceptional, card limits don't apply to you.

Thanks. Income is $50k.

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:45:06 GMT

@FinStar wrote:
@AGG-LA2020 wrote:
Hi,

I got approved for the AmEx Gold on May 4, and applied and got instant approvals for the AmEx Platinum from Charles Schwab, Blue Cash Everyday (CL $1k) and the AmEx Business Amazon Prime (CL $3k) on May 26.

A week later, until today, I continue to get pre-approved for every AmEx card, and Upgrades. I had already provided AmEx with my tax returns prior to approval.
1) Is it too soon to apply for more AmEx personal and Business cards? Typically, the 'soft' rule on revolvers (personal and/or biz) 2 approvals in 90 days. If your profile is fairly established with AmEx, they can approve additional revolvers. Your $1K (personal) and $3K (business) -- regardless of tax info you may have provided -- may or may not yield more in your favor in a very short time.
2) How many can I apply for?

I have been receiving pre-selected mailers from Citibank for three of their credit cards during the past six weeks.
3) Should I pull the trigger, or wait? Pre-selected invitations are not pre-approved offers, even with a RSVP code, opt-out language, etc. This is simply targeted marketing. You can take a gamble and see.

I opened an new personal and business checking account with BOfa two months ago, and today I see a "Your Special Business offer for their Business Advantage Customized Cash Rewards MC in the 'open an account tab".
4) Is this a SP or HP? It will be a HP - these are never SP.
5) Is it a pre-approval? To an extent that you may been pre-screened at some point in the past ~60 days. The HP will confirm whether you can still qualify for the offer, or be offered an alternate product (e.g. secured with a CD).

My current cards are:
AmEx Platinum (Charles Schwab) Approved in May 2021
AmEx Gold Approved in May 2021
AmEx Blue Everyday - $1k Approved in May 2021
Apple Card: $4k Approved in April 2021
Discover It: $3k Approved in April 2021
Discover It: $1,500k Approved in April 2019
Wells Fargo Cash Wise: $2k Approved in May 2021
Good Sam Rewards: $2,500k Approved in Jan 2021
Express: $1,250 Approved in Sept 2020
William Somoma Store Card: $9k Approved in Sept 2020

Exp: 736
Inq: 6, 3 fall off in July 2021

EQ: 727
Inq: 2

TU: 717
Inq: 3 (one falls off in July 2021)

Utilization: 1%
Average Age of Accounts: 1 year 11 months

Sorry for the long post. Thank you!
Personally, I would hold off on any more apps for a while. Although, you do you, but at this point, you are risking potential denials and/or very low limit approvals, if anything -- I could be wrong, but your AAoA and 7 new accounts in the past 6 months would give any potential lender some pause. One thing to keep in mind, AmEx cards (except for biz versions) are starting to report quicker than in the past so there is that to consider.

Thank you. I think it's time to garden.

Re: Recent Approvals - too soon to apply for more AmEx cards?

Brian_Earl_Spilner — Fri, 04 Jun 2021 02:40:39 GMT

@AGG-LA2020 wrote:
@Brian_Earl_Spilner wrote:
They'll approve as many as your income and profile can support. If your income is exceptional, card limits don't apply to you.
Thanks. Income is $50k.

I would hold off on apps for a while. Like stated above, you've already been approved for a significant amount of new credit.

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:43:04 GMT

@Brian_Earl_Spilner wrote:
@AGG-LA2020 wrote:
@Brian_Earl_Spilner wrote:
They'll approve as many as your income and profile can support. If your income is exceptional, card limits don't apply to you.
Thanks. Income is $50k.
I would hold off on apps for a while. Like stated above, you've already been approved for a significant amount of new credit.

I totally agree! It's time to garden. Thanks.

Re: Recent Approvals - too soon to apply for more AmEx cards?

coldfusion — Fri, 04 Jun 2021 02:46:51 GMT

AMEX has official limits regarding the frequency you can apply and the total number of cards you can hold but they are not cast in stone.

You can hold 5 credit cards and 10 charge cards. On paper you can apply for 2 charge cards or 1 credit and 1 charge card in the same day, but some people have been approved for 2 credit cards on the same day. Also, on paper you can only be approved for 2 cards within a sliding 90 day window.

However, a $1K SL on an AMEX card is a very clear warning that you need to stop applying for AMEX cards for a while. You're also at the point where they may be willing to accept a new application but you will be warned before submitting it that if approved you will not be extended a signup bonus offer.

As far as Citibank is concerned, there are 2 issues.

a) If you have obtained more than 5 cards in the last 6 months across all issuers it becomes considerably more difficult to get approved for a core card.

b) The criteria used to establish your eligibility when those mailers were prepared would have been at least 4 and more likely 6 cards ago.

If you want to discuss that BoA card you will need to do so in the Business Credit subforum. This section of the forum is reserved for personal cards only. (hint: it would be a HP, I wouldn't recommend applying)

TL;DR IMO you probably should think about holding off from applying for additional cards for a while.

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 02:52:00 GMT

@coldfusion wrote:
AMEX has official limits regarding the frequency you can apply and the total number of cards you can hold but they are not cast in stone.

You can hold 5 credit cards and 10 charge cards. On paper you can apply for 2 charge cards or 1 credit and 1 charge card in the same day, but some people have been approved for 2 credit cards on the same day. Also, on paper you can only be approved for 2 cards within a sliding 90 day window.

However, a $1K SL on an AMEX card is a very clear warning that you need to stop applying for AMEX cards for a while. You're also at the point where they may be willing to accept a new application but you will be warned before submitting it that if approved you will not be extended a signup bonus offer.

As far as Citibank is concerned, there are 2 issues.

a) If you have obtained more than 5 cards in the last 6 months across all issuers it becomes considerably more difficult to get approved for a core card.
b) The criteria used to establish your eligibility when those mailers were prepared would have been at least 4 and more likely 6 cards ago.

If you want to discuss that BoA card you will need to do so in the Business Credit subforum. This section of the forum is reserved for personal cards only. (hint: it would be a HP, I wouldn't recommend applying)

TL;DR IMO you probably should think about holding off from applying for additional cards for a while.

Thank you. I'll wait, I'm in no hurry.

Re: Recent Approvals - too soon to apply for more AmEx cards?

Shooting-For-800 — Fri, 04 Jun 2021 03:32:24 GMT

Amex gave you a $1k limit on Blue.

I would think that would mean any additional cards are probably going to be $1k or less.

I would wait a year and get some CLIs in the mean time.

GL!

Re: Recent Approvals - too soon to apply for more AmEx cards?

AGG-LA2020 — Fri, 04 Jun 2021 03:39:45 GMT

@Shooting-For-800 wrote:
Amex gave you a $1k limit on Blue.
I would think that would mean any additional cards are probably going to be $1k or less.
I would wait a year and get some CLIs in the mean time.
GL!

Thanks.