topic Re: Amex SP Theory in Credit Cards

Amex SP Theory

CreditExpressNJ — Thu, 27 Mar 2014 19:45:33 GMT

Ok so i think i have confirmed that the SP theory is incorrect at least for me ... I applied to applications one for BCP and Everyday following my approval for True Earnings and they said i had to wait a few days because system cant process applications back to back and certainly they have triple pulled my report did BCP yesterday and Everyday today resulting in 3 seperate pulls on different days and was declined for all except TE i'm so mad now ..... 2 wasted pulls..

Re: Amex SP Theory

Anonymous — Thu, 27 Mar 2014 19:54:11 GMT

1 SP is if you go for a Charge then a revolver card within 24 hours. It is a separate pull for each revolver card application.

Re: Amex SP Theory

Anonymous — Thu, 27 Mar 2014 20:04:04 GMT

@Anonymous wrote:
1 SP is if you go for a Charge then a revolver card within 24 hours. It is a separate pull for each revolver card application.

^^^ Good to know! Thanks for sharing the knowledge.

Re: Amex SP Theory

CreditExpressNJ — Thu, 27 Mar 2014 20:17:48 GMT

@Anonymous wrote:
1 SP is if you go for a Charge then a revolver card within 24 hours. It is a separate pull for each revolver card application.

Man i wish i knew that....Before applying for the h*ll of it knowing that i probably wouldnt get approved but took the chance since it was supposedly a SP so i thought ..... i wanna say so many bad things right now OMG ...

Re: Amex SP Theory

CalAlumnus13 — Thu, 27 Mar 2014 22:40:08 GMT

The dogma here is that, when existing cardmembers apply for a new Amex, it's a SP if denied, a HP if approved. However, there have been some scattered reports of people being HP'd and declined.

Re: Amex SP Theory

JLK93 — Thu, 27 Mar 2014 23:54:41 GMT

@CalAlumnus13 wrote:
The dogma here is that, when existing cardmembers apply for a new Amex, it's a SP if denied, a HP if approved. However, there have been some scattered reports of people being HP'd and declined.

I have an Amex charge card. I applied for a revolver and was declined. I received a HP. A month later I applied for a different revolver and was once again declined. I received another HP. The Amex SP Theory does not always hold.

Re: Amex SP Theory

dodgerslv — Fri, 28 Mar 2014 00:06:59 GMT

sorry to hear about the HPs...i guess like Lexie said, its not a guaranteed procedure they will always follow. I wonder if it depends on a person's internal risk score with them. Or maybe because OP is a recent member. I guess we may never know.