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AMEX app question

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Regular Contributor

Re: AMEX app question


@CreditInspired wrote:

@Newbie2018 wrote:

Sure..

AAoA 1 year 6 months

Oldest acount 6 years and 10 months 

I am in AZEO right now so my utilazation is showing 0%

I have 8 store cards

reg revolving i have CITI (not reporting yet) Cap one plat (not reporting yet) , a credit union low limit card, discover, bank of america cash rewards, dcu plat (not reporting yet)

2 student loans in deferment

 

No collections

One closed Neg paid Charge off  (the oldest account on profile)

1 auto loan about 32% ive paid so far

 

Scores EX:662, TU 708, EQ 686 All FICO


IMHO, I would hold off for about 6 months before applying for an AmX since you just received 3 new CCs, which when they start reporting, your scores will drop in addition to some points lost for the HPs.



Playing Devil's advocate here, but if he waits 6 months, couldn't that make his chances more difficult because he'd be risking denial for "too many new accounts" because in 6 months those 3 unreported CCs will have hit? And his scores are higher now than they will be after 3 new accounts hit and drop his AAoA and AoYA?

Message 11 of 23
Valued Member

Re: AMEX app question

I think the platinum charge card is the best amex travel card. But if you fly delta they have some good signup bonus right now. Could get you a free round trip ticket depending on where you going. I don't know if you need a relationship with amex to get a business card. I had a charge card with them before I got a business card. I've been told amex is very small business friendly.
Message 12 of 23
Frequent Contributor

Re: AMEX app question

Well if I'd be risking another hard pull it makes no sense to wait 6 months. It wouldnt make sense to wait 6 months because by then right, I'd have too many new accounts.
Message 13 of 23
Frequent Contributor

Re: AMEX app question

I listed my info in the previous comments. Any more input would be nice.
Message 14 of 23
Valued Contributor

Re: AMEX app question

Again, with the disclaimer that every single profile is different and can yield different results:

I’ve opened 13 accounts since 2/2018. Five of those are Amex. When I cold apped my first time for Amex in November, it was for Delta Gold and Hilton Honors. I did them 90 minutes apart and was approved for both. My next one was the Hilton Ascend on 3/3, followed by BCP on 5/23 and Gold on 5/27. All were approved, even with two of the other new cards happening in among the Amex apps.

I am sure that any lender has a point where they say enough is enough. I found that in my case, they were quite generous with card approvals and the other accounts I had opened did not seem to bother them much. But I can’t stress enough that YMMV. Among cards I’d had before 2/2018, one is 5-1/2 years old, one is 13 years old, and as of that date I had three old, closed with perfect history car loans on my EX, all of which I’m sure helped when added to my newer account histories (all of which also have perfect payment records).

Your score will matter with Amex but I am willing to say that the overall picture of your credit history will matter just as much.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 15 of 23
Community Leader
Mega Contributor

Re: AMEX app question


@Newbie2018 wrote:
Well if I'd be risking another hard pull it makes no sense to wait 6 months. It wouldnt make sense to wait 6 months because by then right, I'd have too many new accounts.

 

When you open 3 new accounts in a month, it makes all the sense in the world to wait. 6 months is bare minimum after a spree like that. 

You already have too many new accounts. Even if they  are not on your CR today, they will be when your lenders perform SP ARs. 

 

 

 

 

 

 

 

 

EX 759 EQ 774 TU 753


Message 16 of 23
Community Leader
Mega Contributor

Re: AMEX app question


@Newbie2018 wrote:
I listed my info in the previous comments. Any more input would be nice.

You never listed SLs on your cards. It would be helpful to see if you started getting low(ish) limits. That usually indicative of "time to sit down"

 

 

EX 759 EQ 774 TU 753


Message 17 of 23
Community Leader
Senior Contributor

Re: AMEX app question


@Newbie2018 wrote:
Well if I'd be risking another hard pull it makes no sense to wait 6 months. It wouldnt make sense to wait 6 months because by then right, I'd have too many new accounts.

It’s more than just the HPs. It’s also about AA if CCCs deem your credit-seeking behavior as too risky for their portfolio. Remember, building a great credit profile is a marathon, not a race. 

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 18 of 23
Super Contributor

Re: AMEX app question

Amex isn't spooked by inquiries or new accounts. My Delta was my 7th card in 7 months and my inquiries were in the double digits. It won't hurt to wait. Your ex puts you right at borderline approval so right now you're rolling the dice based on marketing material.








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Message 19 of 23
Valued Contributor

Re: AMEX app question

Agreed with all the above. Waiting 6 months could be the difference between a $1000 SL and a $5000+ SL.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 20 of 23
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