Amex App (or no app) Question - New Accounts

[PNW_Hunter]

MyFico Community,

As some of you may have seen, I was recently approved for:

NFCU Flagship: $30k

PenFed PLOC: $25k

PenFed Travel Amex: $10k

I was wondering if the 3 new accounts might raise a red flag if I were to apply for an Amex PRG? I've always wanted this charge card, and I can get the 50k MR Points offer for 1k spend through an incognito browser.

This would more than likely be a churner card and cancel once I use the seccond 100$ travel stipend in 2016 before the AF hits because I already have greocery spending on my BCP, and airfare can go to the no AF Penfed card for ~4.2% rewards rate.

Do you think 3 new accounts would be bad for an Amex app or possibly cause my existing BCP to come under scrutiny?

FICO scores in the 780s, and only 1 EX inquiry. I would also consider opening an Everyday Preferred so I could have a MR earning card if I were to close the PRG in 2016 before the AF. I would also only take 1 inquiry this way.

My concern is that my AAoA is only just over 3 years old BEFORE the 3 new accounts report.

To the garden, or app!?

Thanks

[Anonymous]

well.. my scores are way lower than yours... as are my limits.... and amex was just fine in approving me.

you are basically going for the ED/PRG combo (A GREAT ONE!) and they have the least stringent underwriting (folks sub 680 getting approvals)

I would say...have you checked amex for prequal? Cuz you may see an even better targeted offer for the ED... Have seen up to 25k MR points....Also if you fly, u should register for delta skymiles, and enter that in at deltaamexcard.com and see if it generates a 60k delta mile offer for you. if it does, then do delta gold then PRG.

And yeah, the ED is a great no AF way to keep MR points...just wish they transferred into amtrak like Chase UR!

Anyway...with amex, I had opened 2 new accounts in 6 months.... in may approved for ED...end of june approved for delta gold and prg...

Now if you did add a revolver with the PRG...they could FR you as your exposure is already at 25k...

[PNW_Hunter]

I definitely am not looking to get a FR, which is really why I am asking this question....

I had heard that anything over $35k total Amex exposure is generally the limit? Is that true?

If the FR limit is generally considered to be $25k, I believe I would just do the PRG now, and then wait until after tax season to do the EDP.

I am mainly concerned with having 3 new accounts within a week of eachother, and then possibly adding a 4th new account (Amex PRG), would raise red flags for Amex.

Thanks

[Anonymous]

Did you app yet?

[PNW_Hunter]

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@Anonymous wrote:

Did you app yet?

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No, I am unsure if I want to app now, or garden.

2 of my 3 accounts have not reported yet.

I believe that I would just go with the PRG and get the EDP later on due to the reasons in the first response; i.e., my BCP having a $25k CL already.

I am also a little concerned about my low AAoA.

[Anonymous]

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@PNW_Hunter wrote:

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@Anonymous wrote:

Did you app yet?

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No, I am unsure if I want to app now, or garden.

2 of my 3 accounts have not reported yet.

I believe that I would just go with the PRG and get the EDP later on due to the reasons in the first response; i.e., my BCP having a $25k CL already.

I am also a little concerned about my low AAoA.

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This sounds like a solid plan. Now app!

[Anonymous]

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@PNW_Hunter wrote:

I definitely am not looking to get a FR, which is really why I am asking this question....

I had heard that anything over $35k total Amex exposure is generally the limit? Is that true?

If the FR limit is generally considered to be $25k, I believe I would just do the PRG now, and then wait until after tax season to do the EDP.

I am mainly concerned with having 3 new accounts within a week of eachother, and then possibly adding a 4th new account (Amex PRG), would raise red flags for Amex.

Thanks

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you may be right about the 35k. Besides, as long as youve been honest about income the document is easy to submit online from what ive heard.

I would use this to your advantage, you dont have the other accounts reporting yet, and its not like you are holding off for a chase sapphire.  And if u get declined its just a soft pull...

Go check prequal for ED, see if theres a better targeted offer than 10k. Regardless app for that, then google amex prg 50k from private, badabing

[PNW_Hunter]

Is there a preferred order to app in?

Revolver -> Charge or Charge -> Revolver to make sure its 1 EX HP?

[Anonymous]

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@PNW_Hunter wrote:

Is there a preferred order to app in?

Revolver -> Charge or Charge -> Revolver to make sure its 1 EX HP?

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Charge then revolver.  

[Anonymous]

And AMEX is really good about that 31st day stick it and try to apply again, that's how I got my PRG. June 27th green card denial July 29th approved