topic Re: Amex -- Hard or Soft Pulls? in Credit Cards

Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 04:03:46 GMT

Hey Folks,

I have an American Express Blue Cash Everyday card that's new to me. So, because I'm the kind of dork that makes spreadsheets for my credit and credit cards, I contacted them to ask their policies on CLI's and wether they do a hard or soft pull. Those wankers apparently have a policy of nunyabidness. I asked to speak to a supervisor and though he was really great to deal with, he not only doesn't know but has been specifically directed not to use the terms "hard or soft pull" with customers. So basically he's not allowed to tell. It's a big internal secret.

For those of you who have this card, when you requested a CLI, did you pick up an inquiry of the hard variety?

Re: Amex -- Hard or Soft Pulls?

austinguy907 — Fri, 30 Jun 2017 04:11:29 GMT

Open a new card = HP

CLI = SP

61 days until 1st attempt

90 day wait if declined for CLI

181 days after first/subsequent CLI's approved

App for another AMEX and declined = SP

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 05:53:17 GMT

Thanks for the reply, Austinguy. So let me get this straight, becuase I'm not totally following you here -- you waited 61 days after opening the card to request a CLI? And then 181 days to apply for another card which was declined using a soft pull??

Re: Amex -- Hard or Soft Pulls?

austinguy907 — Fri, 30 Jun 2017 06:00:44 GMT

@WhiteCleats wrote:
Thanks for the reply, Austinguy. So let me get this straight, becuase I'm not totally following you here -- you waited 61 days after opening the card to request a CLI? yes

And then 181 days to apply for another ~~card~~ CLI ~~which was declined~~ using a soft pull??

You get your card and want a CLI.... You wait 61 days and then hit the button and it's a SP.

Approved = wait another 181 days for next CLI attempt

Denied = wait 90 days for next CLI attempt

If you apply for another card and it's denied it's a SP

If you apply and it's approved then it's a HP

If you add another revolver your first CLI on the 2nd card depends on when your last CLI was on the 1st card since you can only request a CLI on 1 card every 6 months once you get your first CLI at 61 days.

http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-helpful-links/m-p/4802617 - check the 3X guide for more info if I'm still confusing you on the abreviated version

Re: Amex -- Hard or Soft Pulls?

UncleB — Fri, 30 Jun 2017 08:29:58 GMT

I'll add that recently (since late 2016) some existing Amex cardholders have been approved for a new/additional account with no HP, although it's YMMV.

There are quite a few reports on various threads of this, but it doesn't seem to be consistent. I will add that my own new Amex ED was approved with no HP back in January (I was already an Amex cardholder).

There's also a DoC article here: http://www.doctorofcredit.com/amex-credit-card-approvals-without-hard-pull/

As far as CLIs go, I suppose anything is possible (that's my disclaimer) but I don't recall ever hearing of anybody getting a HP for a CLI request, at least not the last few years. Just keep in mind that the "rules" are set by Amex, and of course could always change without notice.

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 12:03:03 GMT

@austinguy907 wrote:

You get your card and want a CLI.... You wait 61 days and then hit the button and it's a SP.
Approved = wait another 181 days for next CLI attempt
Denied = wait 90 days for next CLI attempt
If you apply for another card and it's denied it's a SP
If you apply and it's approved then it's a HP
If you add another revolver your first CLI on the 2nd card depends on when your last CLI was on the 1st card since you can only request a CLI on 1 card every 6 months once you get your first CLI at 61 days.
http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-helpful-links/m-p/4802617 - check the 3X guide for more info if I'm still confusing you on the abreviated version

Since I've had the card for 3 months now I decided to take your word for it and "hit the button" (since I'm gardening it was a leap of faith).

The lame part was that the web interface asks ME how much I want for the CLI -- I wish it just gave me whatever the algorithm saw fit. I wanted to get greedy and double my limit but was afraid I'd end up denied. So, I requested 60% of my current credit limit and it worked! I would never have thought to ask for a CLI so soon, soft pull or not. So thank you!

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 12:09:28 GMT

UncleB wrote:
...There's also a DoC article here: http://www.doctorofcredit.com/amex-credit-card-approvals-without-hard-pull/

As far as CLIs go, I suppose anything is possible (that's my disclaimer) but I don't recall ever hearing of anybody getting a HP for a CLI request, at least not the last few years. Just keep in mind that the "rules" are set by Amex, and of course could always change without notice.

Thank you for the link.

Thanks for that -- after both you and Austinguy chimed in I went for a CLI (per my above post). You've got to be right because the interface asked me nothing and the approval was instant. I guess I'd think that a hard pull would require more...effort somehow? Take longer? Want more information? More akin to filling out a new credit card application.

Re: Amex -- Hard or Soft Pulls?

Anonymous — Fri, 30 Jun 2017 12:16:14 GMT

@WhiteCleats wrote:
@austinguy907 wrote:

You get your card and want a CLI.... You wait 61 days and then hit the button and it's a SP.
Approved = wait another 181 days for next CLI attempt
Denied = wait 90 days for next CLI attempt
If you apply for another card and it's denied it's a SP
If you apply and it's approved then it's a HP
If you add another revolver your first CLI on the 2nd card depends on when your last CLI was on the 1st card since you can only request a CLI on 1 card every 6 months once you get your first CLI at 61 days.
http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-helpful-links/m-p/4802617 - check the 3X guide for more info if I'm still confusing you on the abreviated version

Since I've had the card for 3 months now I decided to take your word for it and "hit the button" (since I'm gardening it was a leap of faith).

The lame part was that the web interface asks ME how much I want for the CLI -- I wish it just gave me whatever the algorithm saw fit. I wanted to get greedy and double my limit but was afraid I'd end up denied. So, I requested 60% of my current credit limit and it worked! I would never have thought to ask for a CLI so soon, soft pull or not. So thank you!

Congrats on the CLI but if you wanted more you should have asked as they will counter if they will only give you a lower amount. Just keep that in mind for the future Also I highly recommend that you read the below linked thread's first pages and maybe some of the latest posts. All of your questions are in the thread

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

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 12:19:55 GMT

@Anonymous wrote:

Congrats on the CLI but if you wanted more you should have asked as they will counter if they will only give you a lower amount. Just keep that in mind for the future Also I highly recommend that you read the below linked thread's first pages and maybe some of the latest posts. All of your questions are in the thread.

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

Crap. I wondered if that might not be the case. Oh well, next time. And thanks for the advice.

I'll read the link so I don't seem like such a dumbass.

Re: Amex -- Hard or Soft Pulls?

MrDisco99 — Fri, 30 Jun 2017 12:28:22 GMT

Yeah all that talk around the campfire about 3X CLI is just that. You can ask for triple your limit after 61 days and they'll likely give it to you.

Now you know for when you try again in 6 months.

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 12:43:21 GMT

@MrDisco99 wrote:
Yeah all that talk around the campfire about 3X CLI is just that. You can ask for triple your limit after 61 days and they'll likely give it to you.

Now you know for when you try again in 6 months.

After having read through the link that was provided above I feel like a total nitwit. Here I was all happy about a sad 3,000 increase and I may have gotten a 10,000 dollar increase! Or at least a better counter-offer than what I asked for. Ugh. There's so much to read on this forum...

Re: Amex -- Hard or Soft Pulls?

NRB525 — Fri, 30 Jun 2017 12:55:55 GMT

@WhiteCleats wrote:
@MrDisco99 wrote:
Yeah all that talk around the campfire about 3X CLI is just that. You can ask for triple your limit after 61 days and they'll likely give it to you.

Now you know for when you try again in 6 months.
After having read through the link that was provided above I feel like a total nitwit. Here I was all happy about a sad 3,000 increase and I may have gotten a 10,000 dollar increase! Or at least a better counter-offer than what I asked for. Ugh. There's so much to read on this forum...

Congrats on the CLI. That $3,000 means you got a $6,000 starting credit limit, which is rather high for a first AMEX revolver. Congrats for that also. As a first CLI, it would be somewhat unlikely to get 3x on a $6,000 starting limiit so soon after opening the card, so you did well.

If you want to jump right to the good stuff, then just list out all the cards you currently have, their limits and how long you have had them, and you will get lots of specific advice for what to look for to optimize the features. All lenders are different in how they handle their credit card portfolio. Use the hive mind here to draw on the knowlege of many.

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 13:04:41 GMT

NRB525, actually my SCL was 5,000 and now it's 8,000. Is that rather high? I had been thinking it was fairly low to medium. But at least you've made me feel better that I probably wouldn't have gotten the 3x increase to 15 grand.

You mean list it all out in my signature and people will chime in unsolicited? That's awesome. I'm very appreciative of the help I've gotten so far so more is always welcome.

Oh, I won't make the same mistake twice when I'm ready for my Chase 6-month CLI - I'm going to read my ass off before I do anything. 😜

Re: Amex -- Hard or Soft Pulls?

MrDisco99 — Fri, 30 Jun 2017 14:06:02 GMT

For what it's worth, my BCE hit 61 days today and I just tripled the limit from $4K to $12K.

I've seen $8K CLs get tripled to $24K. Once the 180 days rolls around go for it. They'll make a counter-offer if they think it's too much.

Here's the thread with all the details and data points...

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

Re: Amex -- Hard or Soft Pulls?

Anonymous — Fri, 30 Jun 2017 20:27:49 GMT

@WhiteCleats wrote:
Thanks for the reply, Austinguy. So let me get this straight, becuase I'm not totally following you here -- you waited 61 days after opening the card to request a CLI? And then 181 days to apply for another card which was declined using a soft pull??

Don't mean to make fun of you, ok? Last sentence just had me rolling. Being on here so much and understanding (well most of it anyway) the lingo, I totally got what Austinguy was trying to say telegram style. I can see how it would be a foreign language to a newbie here. This just made my day, WhiteCleats. Thanks for a good laugh.

Re: Amex -- Hard or Soft Pulls?

NRB525 — Fri, 30 Jun 2017 20:42:38 GMT

@WhiteCleats wrote:
NRB525, actually my SCL was 5,000 and now it's 8,000. Is that rather high? I had been thinking it was fairly low to medium. But at least you've made me feel better that I probably wouldn't have gotten the 3x increase to 15 grand.

You mean list it all out in my signature and people will chime in unsolicited? That's awesome. I'm very appreciative of the help I've gotten so far so more is always welcome.

Oh, I won't make the same mistake twice when I'm ready for my Chase 6-month CLI - I'm going to read my ass off before I do anything. 😜

No, you don't have to go through the siggy, just do a simple sequence of lines, each with brand name of the card, credit limit amount, and approximate age.

AMEX seems to start most folks out with $1k - $2k limits then lets the cardholder show they can handle more. More established credit files can see higher starting limits.

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 21:47:30 GMT

@MrDisco99 wrote:
For what it's worth, my BCE hit 61 days today and I just tripled the limit from $4K to $12K.

I've seen $8K CLs get tripled to $24K. Once the 180 days rolls around go for it. They'll make a counter-offer if they think it's too much.

Oh sure, MrDisco, rub it in. But that's a great bump you got -- congrats!

Since that thread also mentioned it was harder to get the 3X CLI beyond the first one, I'm really hoping I do get it at 6 months. Fingers crossed.

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 21:50:30 GMT

@Anonymous wrote:
Don't mean to make fun of you, ok? Last sentence just had me rolling. Being on here so much and understanding (well most of it anyway) the lingo, I totally got what Austinguy was trying to say telegram style. I can see how it would be a foreign language to a newbie here. This just made my day, WhiteCleats. Thanks for a good laugh.

Oh no, it's funny, I totally get it. You have my permission to mock away. He was writing in shorthand and I was struggling to get his meaning but now that I do I see that it was a stupid question.

Re: Amex -- Hard or Soft Pulls?

Asilomar — Fri, 30 Jun 2017 21:53:34 GMT

@NRB525 wrote:
No, you don't have to go through the siggy, just do a simple sequence of lines, each with brand name of the card, credit limit amount, and approximate age.

I'm sorry, do you mean I should do a simple post with just that information in it? "Hey, look at my stuff, comment on it." Doesn't that come off as weird around here?

Re: Amex -- Hard or Soft Pulls?

Gidgetmom — Fri, 30 Jun 2017 22:57:08 GMT

@WhiteCleats wrote:
@NRB525 wrote:
No, you don't have to go through the siggy, just do a simple sequence of lines, each with brand name of the card, credit limit amount, and approximate age.

I'm sorry, do you mean I should do a simple post with just that information in it? "Hey, look at my stuff, comment on it." Doesn't that come off as weird around here?

You could list out your cards, age and credit limits and ask if anyone has advice on CLI's.