topic Re: Afraid AMEX will cancel my account. in Credit Cards

Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:03:08 GMT

I applied for and was approved for an AMEX Cash Magnet card with a limit of $1000. The same day, I also applied for and was approved for a Discover IT with a limit of $2000. A few days later, I stupidly applied for a Citi DC and was not approved. I should never have applied for that card anyway because I don’t need it. My worry is that AMEX might see all of this as risky and cancel my new card. Is this something I need to be worried about? I have no intention of applying for any new credit anytime soon.

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:08:50 GMT

how many new accounts have you opened in the last 6 months?

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:09:22 GMT

Only two.

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:14:01 GMT

@Anonymous wrote:
Only two.

i dont think you need to worry ive heard of lenders closing out accounts for this reason but that was after opening a lot more then 2 accounts and ive yet to read of amex doing it

Re: Afraid AMEX will cancel my account.

SomewhereIn505 — Thu, 23 Aug 2018 21:19:06 GMT

I'm sure you'll be fine. It takes a lot more to scare AmEx.

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:19:08 GMT

I don't think you really need to worry about declined applications. The biggest risk is when you start defaulting on payments.

Re: Afraid AMEX will cancel my account.

FinStar — Thu, 23 Aug 2018 21:19:18 GMT

Hi and welcome to the forums OP.

Given the information you've shared, there's no need to be worried or lose sleep.

IMO, and depending on what your overall profile looks like, the Citi DC denial might give a bit of insight to slow down.

Either way, congrats on the 2 approvals 👍

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:31:23 GMT

Thank you all so much for the replies and the confidence. I’ve worked hard to get to where I am at this point and the last thing I want to do is mess it up!

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:37:42 GMT

Btw, instead of doing so many hard credit pulls why not trying to check if you prequalify for the cards first before applying? That way it's not an impact to your credit history for nothing.

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:40:43 GMT

You’re absolutely right. I was actually prequalified for the Amex and Discover. I took a swing on the other...and missed. But no more inquires for me for a long time!

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:47:11 GMT

Lol yah, I've only had 2 credit cards for nearly 10 years (my parents had told me the myth about having more than 2-3 credit cards was a bad thing and I had believed it). Then only recently I got comfortable enough to go on a small app spree. I got the cards I was hoping to get and I don't plan on ever applying for another card. I got plenty of CL and benefits from what I have

Unless.. I someday become like a multimillionaire and can qualify for the AMEX black card xD.

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:49:45 GMT

Amex doesn’t spoke over new accounts and inquiries typically. They do however, spoke over escalating utilization, missed payments and certain PayPal transactions.

Re: Afraid AMEX will cancel my account.

Anonymous — Thu, 23 Aug 2018 21:51:29 GMT

@Anonymous wrote:
Amex doesn’t spoke over new accounts and inquiries typically. They do however, spoke over escalating utilization, missed payments and certain PayPal transactions.

Do you mean spook*?

Re: Afraid AMEX will cancel my account.

Medic981 — Thu, 23 Aug 2018 23:56:55 GMT

OP: Something else to look forward to is on day 61 of your Amex approval, you can request X3 CLI of your original SL with only a SP.