topic Re: How Often Should You Apply For American Express Cards? in Credit Cards

How Often Should You Apply For American Express Cards?

kogama — Tue, 29 Apr 2014 16:01:48 GMT

Ok so my question is : How often should you or would you apply to American Express for cards?

I know you can technically apply for them all at once but of course American Express would probably flag you or as what happened to me before, it would get frozen and you would have to call about duplicate applications (both approved that time).

Of course I would only do this for increasing my AAoA but I know AmEx is a smart company and they check a lot of things so I could get flagged.

Lets say you were me and in the business for increasing your AAoA through AmEx. You have 3 cards with them, and 2 within the past month, all credit cards. When would you apply for your next AmEx?

Should I let AmEx cool down?

ETA: Do you guys think amex would honor backdates that occured before their policy change where someone is only a few years old or even before they are born under a manual review or account review.

Re: How Often Should You Apply For American Express Cards?

Anonymous — Tue, 29 Apr 2014 02:21:31 GMT

I'd probably try to figure out how much benefit would accrue from further increasing my AAoA, and balance that against the cost of a new tradeline.

Re: How Often Should You Apply For American Express Cards?

ficobgtx — Tue, 29 Apr 2014 02:22:13 GMT

@kogama wrote:
Ok so my question is : How often should you or would you apply to American Express for cards?

I know you can technically apply for them all at once but of course American Express would probably flag you or as what happened to me before, it would get frozen and you would have to call about duplicate applications (both approved that time).

Of course I would only do this for increasing my AAoA but I know AmEx is a smart company and they check a lot of things so I could get flagged.

Lets say you were me and in the business for increasing your AAoA through AmEx. You have 3 cards with them, and 2 within the past month, all credit cards. When would you apply for your next AmEx?

Should I let AmEx cool down?

January. But seriously, when is your MSD? I assume that is how you are trying to increase your AAoA?

Re: How Often Should You Apply For American Express Cards?

kogama — Tue, 29 Apr 2014 02:26:53 GMT

lets just say a few decades ago. You say wait until January huh? Probably a very wise answer and I was thinking the same myself.

Re: How Often Should You Apply For American Express Cards?

Anonymous — Tue, 29 Apr 2014 02:26:41 GMT

Apart from the other answers given, there is also a limit that is getting more enforced, such as a maximum of 4 personal revolvers. So you would have to close an account at a certain point before getting a new one.

Re: How Often Should You Apply For American Express Cards?

kogama — Tue, 29 Apr 2014 02:27:55 GMT

@Anonymous wrote:
Apart from the other answers given, there is also a limit that is getting more enforced, such as a maximum of 4 personal revolvers. So you would have to close an account at a certain point before getting a new one.

Are personal revolvers credit cards? I have 3 credit cards and 0 charge cards. I do not want to pay annual fees and none of my cards if you look in my signature have one.

Re: How Often Should You Apply For American Express Cards?

Anonymous — Tue, 29 Apr 2014 02:48:48 GMT

Yes, revolvers here means "credit cards rather than charge cards."

ETA: Cant tell from your sig because of the "and more I can't remember"!

Re: How Often Should You Apply For American Express Cards?

kogama — Tue, 29 Apr 2014 02:53:08 GMT

I wonder if AmEx upper echelon staff read this and wonder...

Re: How Often Should You Apply For American Express Cards?

Kenny — Tue, 29 Apr 2014 03:10:01 GMT

@kogama wrote:
I wonder if AmEx upper echelon staff read this and wonder...

I hope not. It's because of things like this that get the good perks shut down.

Re: How Often Should You Apply For American Express Cards?

Anonymous — Tue, 29 Apr 2014 03:14:18 GMT

@KennyRS wrote:
@kogama wrote:
I wonder if AmEx upper echelon staff read this and wonder...
I hope not. It's because of things like this that get the good perks shut down.

I don't think there is anything they would object to here. They cap the number of cards you can have,and of course they determine the CL on each card, so they are well in control. If they think you are bonus chasing, they can stop that when you apply in future, and anyway, the new rules coming May 1 will reduce that possibility anyway.

And it's not as if they don't know about back-dating.

Some of the other threads would be of more concern...

Re: How Often Should You Apply For American Express Cards?

score_building — Tue, 29 Apr 2014 03:31:36 GMT

@kogama wrote:
@Anonymous wrote:
Apart from the other answers given, there is also a limit that is getting more enforced, such as a maximum of 4 personal revolvers. So you would have to close an account at a certain point before getting a new one.
Are personal revolvers credit cards? I have 3 credit cards and 0 charge cards. I do not want to pay annual fees and none of my cards if you look in my signature have one.

Sounds like are good for now on cc, with 2 being recent, 4 may be somewhat pushing the enveolp...in any case a more difficult approval than the charge products.

Just app green and/or gold in Jan, the AF is waived year one and the D* bene will still apply even after the cards are closed before AF posts in year 2.

Re: How Often Should You Apply For American Express Cards?

ficobgtx — Tue, 29 Apr 2014 04:10:24 GMT

@score_building wrote:
@kogama wrote:
@Anonymous wrote:
Apart from the other answers given, there is also a limit that is getting more enforced, such as a maximum of 4 personal revolvers. So you would have to close an account at a certain point before getting a new one.
Are personal revolvers credit cards? I have 3 credit cards and 0 charge cards. I do not want to pay annual fees and none of my cards if you look in my signature have one.
Sounds like are good for now on cc, with 2 being recent, 4 may be somewhat pushing the enveolp...in any case a more difficult approval than the charge products.
Just app green and/or gold in Jan, the AF is waived year one and the D* bene will still apply even after the cards are closed before AF posts in year 2.

By "Gold" - you mean PRG... Much better deal points-wise.

Re: How Often Should You Apply For American Express Cards?

score_building — Tue, 29 Apr 2014 04:12:12 GMT

@ficobgtx wrote:
@score_building wrote:
@kogama wrote:
@Anonymous wrote:
Apart from the other answers given, there is also a limit that is getting more enforced, such as a maximum of 4 personal revolvers. So you would have to close an account at a certain point before getting a new one.
Are personal revolvers credit cards? I have 3 credit cards and 0 charge cards. I do not want to pay annual fees and none of my cards if you look in my signature have one.
Sounds like are good for now on cc, with 2 being recent, 4 may be somewhat pushing the enveolp...in any case a more difficult approval than the charge products.
Just app green and/or gold in Jan, the AF is waived year one and the D* bene will still apply even after the cards are closed before AF posts in year 2.
By "Gold" - you mean PRG... Much better deal points-wise.

Yep.

Re: How Often Should You Apply For American Express Cards?

kogama — Tue, 29 Apr 2014 11:26:22 GMT

@Anonymous wrote:
@KennyRS wrote:
@kogama wrote:
I wonder if AmEx upper echelon staff read this and wonder...
I hope not. It's because of things like this that get the good perks shut down.
I don't think there is anything they would object to here. They cap the number of cards you can have,and of course they determine the CL on each card, so they are well in control. If they think you are bonus chasing, they can stop that when you apply in future, and anyway, the new rules coming May 1 will reduce that possibility anyway.
And it's not as if they don't know about back-dating.

Some of the other threads would be of more concern...

What are these new rules you speak of?

Re: How Often Should You Apply For American Express Cards?

scenery_guy — Tue, 29 Apr 2014 11:48:07 GMT

@kogama wrote:
@Anonymous wrote:
@KennyRS wrote:
@kogama wrote:
I wonder if AmEx upper echelon staff read this and wonder...
I hope not. It's because of things like this that get the good perks shut down.
I don't think there is anything they would object to here. They cap the number of cards you can have,and of course they determine the CL on each card, so they are well in control. If they think you are bonus chasing, they can stop that when you apply in future, and anyway, the new rules coming May 1 will reduce that possibility anyway.
And it's not as if they don't know about back-dating.

Some of the other threads would be of more concern...
What are these new rules you speak of?

New card bonus once per lifetime. You can get the card again you just don't get the bonus.

Re: How Often Should You Apply For American Express Cards?

takeshi74 — Tue, 29 Apr 2014 13:51:00 GMT

@kogama wrote:
Lets say you were me and in the business for increasing your AAoA through AmEx.

In addition to AmEx's limit on number of cards keep in mind that AAoA is only 15%:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Re: How Often Should You Apply For American Express Cards?

kogama — Tue, 29 Apr 2014 16:01:20 GMT

@takeshi74 wrote:
@kogama wrote:
Lets say you were me and in the business for increasing your AAoA through AmEx.
In addition to AmEx's limit on number of cards keep in mind that AAoA is only 15%:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Ahh thank you for the reminder!

Do you guys think amex would honor backdates that occured before their policy change where someone is only a few years old or even before they are born under a manual review or account review.

Re: How Often Should You Apply For American Express Cards?

Anonymous — Tue, 29 Apr 2014 17:13:28 GMT

@kogama wrote:
@takeshi74 wrote:
@kogama wrote:
Lets say you were me and in the business for increasing your AAoA through AmEx.
In addition to AmEx's limit on number of cards keep in mind that AAoA is only 15%:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Ahh thank you for the reminder!

Do you guys think amex would honor backdates that occured before their policy change where someone is only a few years old or even before they are born under a manual review or account review.

If the person had its MSD locked in it will not matter. If you are referring to inheriting someone's card history and have never been an AMEX cardholder, then no -that policy changed a few years ago.

Re: How Often Should You Apply For American Express Cards?

kogama — Tue, 29 Apr 2014 18:43:05 GMT

If the person had its MSD locked in it will not matter. If you are referring to inheriting someone's card history and have never been an AMEX cardholder, then no -that policy changed a few years ago.

I have my few decades old MSD reporting on my credit report (inherited) and I have 3 AmEx of my own, does this mean it will be honored?

Re: How Often Should You Apply For American Express Cards?

SunriseEarth — Tue, 29 Apr 2014 19:12:36 GMT

@kogama wrote:

If the person had its MSD locked in it will not matter. If you are referring to inheriting someone's card history and have never been an AMEX cardholder, then no -that policy changed a few years ago.
I have my few decades old MSD reporting on my credit report (inherited) and I have 3 AmEx of my own, does this mean it will be honored?

If it gives that old MSD when you log in, it should give you that on future cards.