topic Re: excessive AMEX soft pulls in General Credit Topics

excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 14:37:29 GMT

Hi all, first post. Been glued to this site for hours each day for about the last 6 months.

Anyway, I just pulled my eperian report a few minutes ago and noticed, what seems to me, an absurd amount of soft pulls from AMEX. They pulled me 15 times since June, sometimes in consecutive days IE: 9/21, 9/22, 9/23. Should I be worried? Read alot of AA stories.

I opened the card (BCP) at the end of May with an SL of 1800. at 61 days 3X to current CL of 5400. This was my first prime credit card. Previous cards were Cap One Platinum (PC'ed to QS) and dreaded Credit One and First Premier (both happily closed).

Since then I have opened up Chase Freedom and Freedom unlimited (both 4k SL's).

So, I guess I am wondering if Amex is worried about the 2 new accounts in such a short amount of time, or if this amount of soft pulls is normal for them.

Thanks!

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 14:54:12 GMT

Well they are SPs, sometimes used to determine future CLIs or add prequalified cards when you check. As long as you're not running up balances you should be fine. I too have a lot of SPs from a few banks, but i don't worry because EVERY SINGLE one of my cards reports $0 every statement.

How many cards do you have total? and what are the limits/CLs?

I think you're fine

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 15:05:15 GMT

Just updated my sig. to include cards and limits.

My utility crept up to 31% last month (this is natural spend but normally don't let them cut with high balances). direct result of low overall CL's. Amex cut at 60% but was PIF after statement cut. I payed/paying everything before cut this month so I should see a nice bump in my score shortly. Unfortunately I use all of my cards quite regularly so its almost impossible to pay off to report 0 balance due to pending charges always being present. I put virtually all of my spend on my cards which comes to about 5-7k per month, if I let this report it ends up driving my utility way up. Can't wait to get better CL's!

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 15:57:17 GMT

ideally, you want to report $0 on all cards but one. You can change your due dates on your cards to meet your needs and pay to $0

All my cards, and i mean all my cards have a due date of 28th and statements cuts on 3rd

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 16:06:31 GMT

Thanks for your response.

That would be ideal! I have tried this approach but with my wife and I using the cards daily it seems that if I pay to zero right before the statement cuts, one of my pending charges posts right in time to make it on the statement. Oh well, as long as they are small balances, I guess.

A little off topic. I am still showing a Pre Approval (not an offer) for the CSP. I really want this card as well to be able to transfer my UR's from CF and CFU to United. Won't be taking a trip until mid next year, but it is calling my name! Should I get it over with and then head into the garden, or am I pushing my luck with AMEX seeing too many new accounts? What do you think?

Re: excessive AMEX soft pulls

HeavenOhio — Fri, 13 Oct 2017 16:16:08 GMT

inthesticks, what's your wife's card situation like?

And regarding the pulls, do they show a purpose, e.g. account review, promotional, etc.?

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 16:17:06 GMT

@Anonymous wrote:
Thanks for your response.

That would be ideal! I have tried this approach but with my wife and I using the cards daily it seems that if I pay to zero right before the statement cuts, one of my pending charges posts right in time to make it on the statement. Oh well, as long as they are small balances, I guess.

A little off topic. I am still showing a Pre Approval (not an offer) for the CSP. I really want this card as well to be able to transfer my UR's from CF and CFU to United. Won't be taking a trip until mid next year, but it is calling my name! Should I get it over with and then head into the garden, or am I pushing my luck with AMEX seeing too many new accounts? What do you think?

You only have 4 cards total right? and got them in the past 24 months (2 years)? Chase has a rule called 5/24, which means that if you have applied for 5 or more cards in previous 24 months, you will be denied.

HOWEVER, people have been getting approval on this card by going to the Chase branch and talking to a credit person. They can see if you have a prequal. These people getting approved at the Chase branch have reported having over 5/24 and getting approved. As to the "get it over with now" question, it wont hurt to get it now, spend $4k in three months and get the 50k URs and have them there ready for next year.

If im correct, you're at 4/24...i would just go into the branch and see what they have to offer.

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 16:30:14 GMT

@HeavenOhio i don't know how to quote.

My Wife is AU on all of my cards and only has the Chase Amazon in her name. We do have a joint mortgage and car loan as well.

The pulls only say that they are by "American Express 2" There is another soft pull by them too under "American express" no purpose stated.

@c00mtg.

Correct, I only have 4 cards. 3 are recent since late May and the QS was PC'd but is 6 years old. so I am only 3/24. My concern is if I add yet another new account in such a short time frame that I might spook AMEX into doing something I might regret, like AA or FR. I just don't know how many new accounts in short time is too many. Do you think I would be safe with adding one more and then laying low? Also, I'm in northern Vermont, no chase branch for hundreds of miles! Actually not much of anything...

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 16:38:22 GMT

@Anonymous wrote:
@HeavenOhio i don't know how to quote.

My Wife is AU on all of my cards and only has the Chase Amazon in her name. We do have a joint mortgage and car loan as well.

The pulls only say that they are by "American Express 2" There is another soft pull by them too under "American express" no purpose stated.

@Anonymous.

Correct, I only have 4 cards. 3 are recent since late May and the QS was PC'd but is 6 years old. so I am only 3/24. My concern is if I add yet another new account in such a short time frame that I might spook AMEX into doing something I might regret, like AA or FR. I just don't know how many new accounts in short time is too many. Do you think I would be safe with adding one more and then laying low? Also, I'm in northern Vermont, no chase branch for hundreds of miles! Actually not much of anything...

To quote, click the "Reply" button on the comment you want to reply to, then on the next screen, click on the "quote" button then start typing at the bottom of the line.

You should not get AA or FR as long as you dont exaggerate your income when applying for cards or do anything stupid with them. I have 5 AMEX cards in total, so you can have more than one. Just in October (this month) i applied and approved for 2 AMEX CCs, 1 US Bank CC, 1 NFCU CC and NFCU CLOC (5 accounts).

I think you should be fine, so long as you can provide proof of income (if asked by AMEX or others).

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 16:44:40 GMT

@Anonymous wrote:
@Anonymous wrote:
@HeavenOhio i don't know how to quote.

My Wife is AU on all of my cards and only has the Chase Amazon in her name. We do have a joint mortgage and car loan as well.

The pulls only say that they are by "American Express 2" There is another soft pull by them too under "American express" no purpose stated.

@Anonymous.

Correct, I only have 4 cards. 3 are recent since late May and the QS was PC'd but is 6 years old. so I am only 3/24. My concern is if I add yet another new account in such a short time frame that I might spook AMEX into doing something I might regret, like AA or FR. I just don't know how many new accounts in short time is too many. Do you think I would be safe with adding one more and then laying low? Also, I'm in northern Vermont, no chase branch for hundreds of miles! Actually not much of anything...
To quote, click the "Reply" button on the comment you want to reply to, then on the next screen, click on the "quote" button then start typing at the bottom of the line.

You should not get AA or FR as long as you dont exaggerate your income when applying for cards or do anything stupid with them. I have 5 AMEX cards in total, so you can have more than one. Just in October (this month) i applied and approved for 2 AMEX CCs, 1 US Bank CC, 1 NFCU CC and NFCU CLOC (5 accounts).

I think you should be fine, so long as you can provide proof of income (if asked by AMEX or others).

Ha, Got it! Thanks for the Quote tutorial. That is a lot of cards in just one month, guess I don't need to worry. I am being honest with my income and can provide proof if asked.

I will wait until my new utility % posts to the CB's and pull the trigger on that CSP. Then it's off to the garden I go, I hope...

Thanks for the confidence booster, I feel much better now.

Re: excessive AMEX soft pulls

HeavenOhio — Fri, 13 Oct 2017 16:58:36 GMT

I took a look at the reports I pulled earlier this year, and I see that purposes for the pulls aren't given on Experian, which is the bureau that AMEX tends to pull. The other reports generally show reasons for the pulls.

But this ought to make you feel better. AMEX pulled my report eight times in about a year and a half despite the fact that I didn't have a card with them at that time. I wouldn't worry.

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 17:02:27 GMT

@HeavenOhio wrote:
I took a look at the reports I pulled earlier this year, and I see that purposes for the pulls aren't given on Experian, which is the bureau that AMEX tends to pull. The other reports generally show reasons for the pulls.

But this ought to make you feel better. AMEX pulled my report eight times in about a year and a half despite the fact that I didn't have a card with them at that time. I wouldn't worry.

What are the different reasons shown on your EQ and TU reports? Just curious what they might say.

I don't want to pull TU or EQ today as I would like to pull one every 4 months to keep an eye on things.

Re: excessive AMEX soft pulls

A1Credit — Fri, 13 Oct 2017 17:27:53 GMT

Why don't you change your due date on a couple of cards so that you can pay the some down to zero and stop putting charges on them while using the other cards until their due date? I use my cards for all of my spending as well but it's hard when all of my cards have the same due date because then I have to stop using them for a period of time to ensure that there are no pending payments and all the statements cut at $0 except for the one I choose to show a balance on.

Ummm that was a really long sentence

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 17:20:53 GMT

@A1Credit wrote:
Why don't you change your due date on a couple of cards so that you can pay the some down to zero and stop putting charges on them while using the other cards until their due date? I use my cards for all of my spending as well but it's hard when all of my cards have the same due date because then I have to stop using them for a period of time to ensure that there are no pending payments and all the statements cut at $0 except for the one I choose to show a balance on.

I could give that a try. My due dates are spread throughout the month so that shouldn't be too hard.

The only potential problem I see would be telling DW to stop using this card on this day and that card on that day. It was already difficult to get her to use different cards at certain places for max rewards. It was and still is kind of a touchy subject, but I'll bring it in passing. Maybe i'll just take the cards out of her wallet and then sneak them back in

Re: excessive AMEX soft pulls

A1Credit — Fri, 13 Oct 2017 17:26:05 GMT

@Anonymous wrote:
@A1Credit wrote:
Why don't you change your due date on a couple of cards so that you can pay the some down to zero and stop putting charges on them while using the other cards until their due date? I use my cards for all of my spending as well but it's hard when all of my cards have the same due date because then I have to stop using them for a period of time to ensure that there are no pending payments and all the statements cut at $0 except for the one I choose to show a balance on.
I could give that a try. My due dates are spread throughout the month so that shouldn't be too hard.

The only potential problem I see would be telling DW to stop using this card on this day and that card on that day. It was already difficult to get her to use different cards at certain places for max rewards. It was and still is kind of a touchy subject, but I'll bring it in passing. Maybe i'll just take the cards out of her wallet and then sneak them back in

LOL I could see that being a difficult thing to corroborate. Looks like you need to create a schedule to put on the fridge and reminders in the cell phones. Good luck! Lucky for me, I don't have any authorized users to keep in line or I might be pulling my hair out right about now.

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 17:38:23 GMT

All my due dates on all my cards are for the 28th, this helps me to pay them all to $0 when statement closes on the 3rd.

My wife does not use my cards unless she's helping me meet a spending.

Re: excessive AMEX soft pulls

A1Credit — Fri, 13 Oct 2017 17:40:52 GMT

@Anonymous wrote:
All my due dates on all my cards are for the 28th, this helps me to pay them all to $0 when statement closes on the 3rd.

My wife does not use my cards unless she's helping me meet a spending.

So what do you use in the mean time? Debit, cash?

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 17:45:29 GMT

If I didn't have her as AU's on the cards she would use our debit card for everything. I am fairly new to the points/cash back game but when we both use them we get back a pretty nice amount of UR's and CB. I have a lot of family in Germany and a flight out of BTV to FRA is usually about $1,300 RT per person in the off season. With a bit of flexibility I can do the same with 60k United miles. I would never accumulate enough points without her cooperation so I must tread lightly to keep it.

Re: excessive AMEX soft pulls

HeavenOhio — Fri, 13 Oct 2017 18:18:34 GMT

@Anonymous wrote:
What are the different reasons shown on your EQ and TU reports? Just curious what they might say.

Equifax: Soft Inquiry, Account Review Inquiry, Promotional Inquiry

TransUnion: Promotional Inquiries, Account Review Inquiries

My Credit Karma TU inquiries are categorized as account review inquiries and also state "Permissible Purpose: CONSUMER REQUEST."

Re trying to get some cards to report zero, I physically sock drawer the cards so I don't have them with me. I keep my higher limit cards with me, though, just in case I need a fallback.

One thing I do is make a payment when I hit 25% of a card's limit. Or I'll decide to pay because I've hit a certain dollar amount. Sometimes, I pay to zero. Other times, I'll throw on an "even" amount, e.g. $1,500. That tack works especially well when I want to let a positive balance report on a card because all I need to do ensure that the balance is below a certain amount. At that point, I can continue to charge as long as a transaction isn't abnormally large.

In your case, your scores are at a spot where optimizing is "borderline optional." I'd definitely fully optimize when applying for a loan. For normal usage, I'd try to improve the current situation a bit without necessarily optimizing to the fullest extent. But I'd try it out just for practice just so you know the drill when you need to implement it.

Re: excessive AMEX soft pulls

Anonymous — Fri, 13 Oct 2017 18:45:22 GMT

@A1Credit wrote:
@Anonymous wrote:
All my due dates on all my cards are for the 28th, this helps me to pay them all to $0 when statement closes on the 3rd.

My wife does not use my cards unless she's helping me meet a spending.
So what do you use in the mean time? Debit, cash?

I don't use either.

My last bill comes out of my credit card on the 20th. From the 20th until due date/closing stements, the payment clears witih plenty of time to report $0