topic Re: Amex 2/90 rule in Credit Card Applications

Amex 2/90 rule

Ramsport — Sat, 30 Jul 2022 17:42:53 GMT

Hello. Can someone who has extensive experience with American Express chime in on this 2 and 90 day rule.

I spoke with three reps with American Express and they all were pretty consistent that there is no such 2 in 90 day rule.

I'm probably being dense about this but I don't want to spoil my relationship right out the gate.

Thank you for any and all responses.

Re: Amex 2/90 rule

Brian_Earl_Spilner — Sat, 30 Jul 2022 18:04:13 GMT

You can typically only be approved for 2 revolvers in a 90 day period. Charge cards are exempt. You could open 2 personal revolvers and 3 personal charge cards in a 6 day period. But like many things Amex, if your profile and/or income is strong enough, the rule can be skirted.

Re: Amex 2/90 rule

Anonymous — Sat, 30 Jul 2022 18:36:22 GMT

@Ramsport A comforting aspect of American Express is that even if they deny the request for now, they are only performing a soft pull.

Re: Amex 2/90 rule

Ramsport — Sat, 30 Jul 2022 18:55:05 GMT

So if I'm understanding you correctly I could in essence apply for two more charge cards it not be a hard pull therefore not affecting my credit score.

I have the Platinum on the 2nd of August I'm going to apply for the BCE or some other credit card I'm figured out which.

Could you also clarify this 6 days thing.

Thank you for your responses

Re: Amex 2/90 rule

Anonymous — Sat, 30 Jul 2022 19:12:33 GMT

@Ramsport Unfortunately, unknown regarding the 6 day thing you mentioned. But I can confirm that American Express has only performed one hard pull on me for my first card. After that, they have only performed soft pulls for my future requests. Furthermore, I always hear the same thing from others on MyFICO.

Re: Amex 2/90 rule

OmarGB9 — Sun, 31 Jul 2022 01:55:21 GMT

@Anonymous wrote:
@Ramsport A comforting aspect of American Express is that even if they deny the request for now, they are only performing a soft pull.

*Usually* it's only a SP, but NOT always. There are a few members on here who have experienced that firsthand. Brian is one of them, actually.

And I believe the 6 days thing was just an example, not any sort of rule.

Re: Amex 2/90 rule

K-in-Boston — Sun, 31 Jul 2022 02:05:03 GMT

@OmarGB9 wrote:
@Anonymous wrote:
@Ramsport A comforting aspect of American Express is that even if they deny the request for now, they are only performing a soft pull.
*Usually* it's only a SP, but NOT always. There are a few members on here who have experienced that firsthand. Brian is one of them, actually.

And I believe the 6 days thing was just an example, not any sort of rule.

Correct. You can substitute any number between 1 and 90 there.

Also, policies that apply to underwriting for threshold limits are usually completely unknown to those who do not work in underwriting at a given financial institution. Policies like this Amex 2/90, Chase's 5/24, etc. are built into the underwriting algorithm, and there's generally no reason front-line workers would need to be aware of these policies as they do not make lending decisions. When it comes to underwriting requirements and policies, forums such as this will have far more thorough knowledge than most CSRs.

Re: Amex 2/90 rule

Brian_Earl_Spilner — Sun, 31 Jul 2022 03:42:39 GMT

@OmarGB9 wrote:
@Anonymous wrote:
@Ramsport A comforting aspect of American Express is that even if they deny the request for now, they are only performing a soft pull.
*Usually* it's only a SP, but NOT always. There are a few members on here who have experienced that firsthand. Brian is one of them, actually.

And I believe the 6 days thing was just an example, not any sort of rule.

It's the soonest you can acquire 5 cards with them. You can apply for all the charge cards along with a revolver on day 1. You have to wait 5 days before you can be approved for a second revolver. At that point you're 2/90. Technically you could have 6 (if you don't count business) if you also apply for the Schwab platinum.

Re: Amex 2/90 rule

Brian_Earl_Spilner — Sun, 31 Jul 2022 03:47:15 GMT

@Ramsport wrote:
So if I'm understanding you correctly I could in essence apply for two more charge cards it not be a hard pull therefore not affecting my credit score.
I have the Platinum on the 2nd of August I'm going to apply for the BCE or some other credit card I'm figured out which.
Could you also clarify this 6 days thing.
Thank you for your responses

If you're an existing member, you have a very high chance of SP approvals. Doesn't mean they won't randomly HP you on an app. It happened to me once. Regardless if it's soft, it will still affect your credit once it reports by reducing your AAoA.

Re: Amex 2/90 rule

Anonymous — Sun, 31 Jul 2022 05:09:11 GMT

@Brian_Earl_Spilner wrote:
@Ramsport wrote:
So if I'm understanding you correctly I could in essence apply for two more charge cards it not be a hard pull therefore not affecting my credit score.
I have the Platinum on the 2nd of August I'm going to apply for the BCE or some other credit card I'm figured out which.
Could you also clarify this 6 days thing.
Thank you for your responses
If you're an existing member, you have a very high chance of SP approvals. Doesn't mean they won't randomly HP you on an app. It happened to me once. Regardless if it's soft, it will still affect your credit once it reports by reducing your AAoA.

Excellent point.

Re: Amex 2/90 rule

ThomasJNewton — Sun, 31 Jul 2022 15:34:23 GMT

@Brian_Earl_Spilner wrote:
If you're an existing member, you have a very high chance of SP approvals. Doesn't mean they won't randomly HP you on an app. It happened to me once. Regardless if it's soft, it will still affect your credit once it reports by reducing your AAoA.

@Brian_Earl_Spilner I see two cards in your list that intrigue me: Star Brigade FCU and the NFCU card with the Top Gun design. Are either (or both) of those designs real? If so, who issues the Star Brigade card and how does one get the Top Gun design? Just curious. :-D

Re: Amex 2/90 rule

Ramsport — Mon, 01 Aug 2022 01:43:48 GMT

Thank you to everyone who replied.

This stuff should be its own subject in school.