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Amex question?

crmartin0279
Established Member

Amex question?

So, I got my first Amex card in April, Gold Card. Now when I try to apply for another card I get denied and it’s says account is to new. How long should I wait to apply for another Amex card? Really want one of the Delta cards.

Thanks in advance. 

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Banks

Cars

6 REPLIES 6
bigseegar
Established Contributor

Re: Amex question?


@crmartin0279 wrote:

So, I got my first Amex card in April, Gold Card. Now when I try to apply for another card I get denied and it’s says account is to new. How long should I wait to apply for another Amex card? Really want one of the Delta cards.

Thanks in advance. 


Hard to say without your DP's. But it sounds like for some reason AmEx isn't completely comfortable with your credit profile. Because you can apply for a new card 5 days after you get one and they have a 2/90 Day card rule but they don't really follow that if you have a good strong profile a lot of times. Have you been seeking a lot of credit in a short time? Several new cards recently? If so those two would spook them. Also do you have a good salary to support the cards and CL's you currently have and is your UTL 0-10% currently? Lots of what if's. Without knowing those things I'd say give it at least 6 months of usage and PIF and then try again.

Message 2 of 7
PNWRambler
Contributor

Re: Amex question?

I would probably wait 3-6 months and try again, but as mentioned there's many details we're missing that could indicate a shorter or longer time frame.  In the mean time, spend a lot with the card but PIF every month. 

Message 3 of 7
crmartin0279
Established Member

Re: Amex question?


@bigseegar wrote:

@crmartin0279 wrote:

So, I got my first Amex card in April, Gold Card. Now when I try to apply for another card I get denied and it’s says account is to new. How long should I wait to apply for another Amex card? Really want one of the Delta cards.

Thanks in advance. 


Hard to say without your DP's. But it sounds like for some reason AmEx isn't completely comfortable with your credit profile. Because you can apply for a new card 5 days after you get one and they have a 2/90 Day card rule but they don't really follow that if you have a good strong profile a lot of times. Have you been seeking a lot of credit in a short time? Several new cards recently? If so those two would spook them. Also do you have a good salary to support the cards and CL's you currently have and is your UTL 0-10% currently? Lots of what if's. Without knowing those things I'd say give it at least 6 months of usage and PIF and then try again.


I have gotten 23 cards in the past 24 months, 5 since march including the Amex card in April. UTL is around 33%. 9 of the are between 500 - 1000 CL and 13 are between 2000 - 4500. The lower ones are store cards and the higher ones are bank cards.

Credit Cards

Banks

Cars

Message 4 of 7
coldfusion
Community Leader
Super Contributor

Re: Amex question?

 

AMEX uses a higher standard when evaluating applications for their credit cards than they do for their charge cards.   That would be consistent with your experience when acquiring your Gold Card when, as per your comment at the time, your prequal attempt only offered charge cards.

 

You've been pretty successful over the last 24 months with approvals but the pattern of approvals with low limits is itself an indicator that you've been going too fast.  Also, you've already discussed possibly closing some cards that aren't even a year old, including some that you have never even used, which is an additional indicator that you need to slow down. Your utilization number isn't abysmal, but it's high enough to attract attention although it does appear you've lowered it from 40% to 33% over the last 2.5 months or so.

 

You even said yourself when you announced your approval for the Gold Card in April that it was time to go to the garden, and you were right, probably for at least the next 6 months.   As part of that process you might want to consider freezing your reports on all 3 major CRAs as that by design makes the process of applying for additional credit a more deliberate one.  During that time, focus on whittling down your utilization even more.

 

 

 

(6/2022)
FICO 8 (EX) 830 (TU) 836 (EQ) 831
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Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 5 of 7
bigseegar
Established Contributor

Re: Amex question?


@crmartin0279 wrote:

@bigseegar wrote:

@crmartin0279 wrote:

So, I got my first Amex card in April, Gold Card. Now when I try to apply for another card I get denied and it’s says account is to new. How long should I wait to apply for another Amex card? Really want one of the Delta cards.

Thanks in advance. 


Hard to say without your DP's. But it sounds like for some reason AmEx isn't completely comfortable with your credit profile. Because you can apply for a new card 5 days after you get one and they have a 2/90 Day card rule but they don't really follow that if you have a good strong profile a lot of times. Have you been seeking a lot of credit in a short time? Several new cards recently? If so those two would spook them. Also do you have a good salary to support the cards and CL's you currently have and is your UTL 0-10% currently? Lots of what if's. Without knowing those things I'd say give it at least 6 months of usage and PIF and then try again.


I have gotten 23 cards in the past 24 months, 5 since march including the Amex card in April. UTL is around 33%. 9 of the are between 500 - 1000 CL and 13 are between 2000 - 4500. The lower ones are store cards and the higher ones are bank cards.


There's your answer right there. That's a lot of cards in a short time with a very small total CL to show for it as well. 23 cards in 2 years and 5 in 3 months is definitely being seen/looked at (and is) credit seeking behavior and that scares lenders just about more than anything. That's why the results this time with AmEx. At least that's my opinion of why. So, you for sure need to hit the garden hard for at least 6 months and really a year before you apply or reapply for ANYTHING.

Message 6 of 7
SouthJamaica
Mega Contributor

Re: Amex question?


@crmartin0279 wrote:

@bigseegar wrote:

@crmartin0279 wrote:

So, I got my first Amex card in April, Gold Card. Now when I try to apply for another card I get denied and it’s says account is to new. How long should I wait to apply for another Amex card? Really want one of the Delta cards.

Thanks in advance. 


Hard to say without your DP's. But it sounds like for some reason AmEx isn't completely comfortable with your credit profile. Because you can apply for a new card 5 days after you get one and they have a 2/90 Day card rule but they don't really follow that if you have a good strong profile a lot of times. Have you been seeking a lot of credit in a short time? Several new cards recently? If so those two would spook them. Also do you have a good salary to support the cards and CL's you currently have and is your UTL 0-10% currently? Lots of what if's. Without knowing those things I'd say give it at least 6 months of usage and PIF and then try again.


I have gotten 23 cards in the past 24 months, 5 since march including the Amex card in April. UTL is around 33%. 9 of the are between 500 - 1000 CL and 13 are between 2000 - 4500. The lower ones are store cards and the higher ones are bank cards.


Then I don't think you should be applying for anything, for a good long while.


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 718 TU 721 EX 698

Message 7 of 7
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