topic Re: how long to wait to reapply?(AMEX) in Credit Cards

how long to wait to reapply?(AMEX)

ajumbaje — Fri, 08 Feb 2013 03:54:58 GMT

I recently applied for a blue cash everyday and a green charge card and got denied for both. I have applied to a couple other cards since the start of the year, so I have some recent hard inquiries on my report.

My question is how long should I wait before I reapply for an amex? 6 months? 1 year? I'm looking at the delta one for travel rewards(or if you think I have a better chance at another card, that). I am also hoping to have a new job that pays more so I can feel comfortable forking over an annual fee.

I established credit last february with a secured card from wells fargo and I recently was approved for a discover it and usaa platinum visa. I am also hoping that I graduate from the secured card, but plan to cancel it whenever I get an amex and stick with three cards in all. That and I am moving away from wf altogether.

Re: how long to wait to reapply?(AMEX)

Anonymous — Fri, 08 Feb 2013 03:56:27 GMT

I would recommend you give it another 6 months before trying again.

Re: how long to wait to reapply?(AMEX)

Swapmeet — Fri, 08 Feb 2013 04:06:34 GMT

What does your file look like? Inqs, baddies, scores...etc?

Re: how long to wait to reapply?(AMEX)

ajumbaje — Fri, 08 Feb 2013 04:10:18 GMT

I think I have a total of nine hard inquiries total since feb 2012, 5 or six since the new year. No baddies. Amex declined me, score on experian was 722 though.

Re: how long to wait to reapply?(AMEX)

Swapmeet — Fri, 08 Feb 2013 04:24:13 GMT

@ajumbaje wrote:
I think I have a total of nine hard inquiries total since feb 2012, 5 or six since the new year. No baddies. Amex declined me, score on experian was 722 though.

This does not look like declinable info. I could see them getting a little weary of 5-6 inqs in the last month. What did it say on the letter? When do those other 3 inqs come off?

Re: how long to wait to reapply?(AMEX)

distantarray — Fri, 08 Feb 2013 04:24:13 GMT

@ajumbaje wrote:
I think I have a total of nine hard inquiries total since feb 2012, 5 or six since the new year. No baddies. Amex declined me, score on experian was 722 though.

no baddies 722 seems kinda low for no baddies what was your debt / credit ratio? average age of accounts?

Re: how long to wait to reapply?(AMEX)

ajumbaje — Fri, 08 Feb 2013 04:42:04 GMT

well i just opened a discover line and a usaa line. The secured card had a 400$ limit so utilization is high. Discover has a 1k limit and I am about to make my first payment. Usaa has a 4k payment and I have yet to receive it in the mail. Utilization will definitely drop.

also applied for(and declined):

blue cash everyday

green charge card

capone venture

chase amazon

all since january.

Re: how long to wait to reapply?(AMEX)

chnceit — Fri, 08 Feb 2013 06:42:34 GMT

@ajumbaje wrote:
well i just opened a discover line and a usaa line. The secured card had a 400$ limit so utilization is high. Discover has a 1k limit and I am about to make my first payment. Usaa has a 4k payment and I have yet to receive it in the mail. Utilization will definitely drop.

also applied for(and declined):
blue cash everyday
green charge card
capone venture
chase amazon

all since january.

Sorry, but you need to stop applying. These denials with HPs are not good at all. You are going to get denjed off the bat because of too much inquiries.

Re: how long to wait to reapply?(AMEX)

chnceit — Fri, 08 Feb 2013 06:45:12 GMT

What is your utilization, this maybe hindering you from getting approved.

Re: how long to wait to reapply?(AMEX)

Creditaddict — Fri, 08 Feb 2013 07:06:41 GMT

THIN File then?

Wait 3 months and apply for Green Charge... IF you get approved you can try for Delta, Blue whatever you want that is revolving but do Charge first and don't apply for others if denied Green. Skip Capital One in future unless you don't mind the 3 pulls which you don't seem to, but make SURE they are offering you something,... no offer... no apply!

Did you try to recon the Chase Amazon? I would now if it's been within 30 days, they can be okay about recon sometimes, and Amazon seems to be talked about as an easier in a few times in past.

Re: how long to wait to reapply?(AMEX)

SnackTrader — Fri, 08 Feb 2013 14:32:51 GMT

The big thing to remember here is that like CreditAddict said - your file is thin.

You were approved for two unsecured cards, which is excellent, but now you need to show history with those. Show other creditors that you can handle higher limits and that you can handle 3 credit cards. Once they show up on your report your AAoA will drop, but so will your utilization. In order to bring AAoA back to a better place, I suggest waiting longer than 3 months, maybe up to 6, before applying for anything else. Credit is a long journey (marathon, not a sprint, yada yada) so don't be in a rush to get somewhere your credit isn't ready for. You'll be in great shape in 2 or 3 years if you only app once every 6 months. Plus, you need to give those inquiries some age, too make make sure you don't look desperate for credit.