How long should I wait to apply for a targeted Amex card?

[Anonymous]

I recieved an offer letter for an Amex everday that Im tempted to apply for, but I also just secured a lease on a new condo in the last few weeks. Since the property manager (and a few other properties I applied for but did not accept) likely put in a hard pull, when is a good time to apply for the Amex? Thanks in advance

[Anonymous]

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@Anonymous wrote:

I recieved an offer letter for an Amex everday that Im tempted to apply for, but I also just secured a lease on a new condo in the last few weeks. Since the property manager (and a few other properties I applied for but did not accept) likely put in a hard pull, when is a good time to apply for the Amex? Thanks in advance

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Now is the time to apply.  Without knowing more info like scores, etc. it's impossible to give you accurate advice.  Is the letter a pre approval or a generic  letter about the card?  The credit pull for your lease won't have a bearing unless you have a lot on Experian which is what AMEX pulls.

[Anonymous]

The letter is a pre-screened offer of credit, so I don't know if thats the same thing as preapproval. I have unti Jan 19 2015 to apply with the details in this offer.

My experian FICO is 807 and I currently have the following lines of credit, oldest to most recent:

WF -$15,000 (2001)

Elan Financial -$15,000

Jcrew/Comenity - $900

Chase Student Loan (installment, owe about $3k)

C&B/Comenity - $3500

Macys/DSNB - $800 (opened 6/2013)

My goal is to have five prime cards with high limits and excellent rates, I was shocked at the low limit Macys gave me last year ($500 on their non-AMex store card) when I still had my only late payment from 7 years ago still on file, and I dont want to make the same mistake this time around now that its gone.

thanks

[CreditCuriosity]

You can get any amex you want with that EX score other then the Black card of course.  Of course don't forget about the 3xCLI within 61 days.  So say they approve you on whatever card for just say 5k, in 61 days it could easily by 15k..

[elim]

yesterday

[Creditaddict]

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@Anonymous wrote:

The letter is a pre-screened offer of credit, so I don't know if thats the same thing as preapproval. I have unti Jan 19 2015 to apply with the details in this offer.

My experian FICO is 807 and I currently have the following lines of credit, oldest to most recent:

WF -$15,000 (2001)

Elan Financial -$15,000

Jcrew/Comenity - $900

Chase Student Loan (installment, owe about $3k)

C&B/Comenity - $3500

Macys/DSNB - $800 (opened 6/2013)

My goal is to have five prime cards with high limits and excellent rates, I was shocked at the low limit Macys gave me last year ($500 on their non-AMex store card) when I still had my only late payment from 7 years ago still on file, and I dont want to make the same mistake this time around now that its gone.

thanks

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Apply for Amex now?

I would request CLI on your Jcrew - keep hitting the CLI button online until you get 7-10 days... it may let you do it 1 time or 20 times (SP)

Same thing on C&B as Jcrew - CLI online until it says no (SP)

I would do a chat online with Macy's and ask for CLI (ask for $10k, they will instantly counter you) you could ask for the upgrade to amex also if you would like. the cli should be sp even though they tell you hp but if you ask for upgrade to amex that will be hp.

[mongstradamus]

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@Anonymous wrote:

The letter is a pre-screened offer of credit, so I don't know if thats the same thing as preapproval. I have unti Jan 19 2015 to apply with the details in this offer.

My experian FICO is 807 and I currently have the following lines of credit, oldest to most recent:

WF -$15,000 (2001)

Elan Financial -$15,000

Jcrew/Comenity - $900

Chase Student Loan (installment, owe about $3k)

C&B/Comenity - $3500

Macys/DSNB - $800 (opened 6/2013)

My goal is to have five prime cards with high limits and excellent rates, I was shocked at the low limit Macys gave me last year ($500 on their non-AMex store card) when I still had my only late payment from 7 years ago still on file, and I dont want to make the same mistake this time around now that its gone.

thanks

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What is the particular offer you are getting offered is it an targetted amex offer or an standard public offer?

[Anonymous]

Thank you for the replies:

__________________________________________________________________________________________________________________________________

From CreditCuriousity:

You can get any amex you want with that EX score other then the Black card of course.  Of course don't forget about the 3xCLI within 61 days.  So say they approve you on whatever card for just say 5k, in 61 days it could easily by 15k..

__________________________________________________________________________________________________________________________________

Can you elaborate on this a little? Assuming I am approved for 5k through your scenario, what is this 61 day rule? Do i need to request sp CLI immediately after approval?

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From Creditaddict

Apply for Amex now?

I would request CLI on your Jcrew - keep hitting the CLI button online until you get 7-10 days... it may let you do it 1 time or 20 times (SP)

Same thing on C&B as Jcrew - CLI online until it says no (SP)

I would do a chat online with Macy's and ask for CLI (ask for $10k, they will instantly counter you) you could ask for the upgrade to amex also if you would like. the cli should be sp even though they tell you hp but if you ask for upgrade to amex that will be hp.

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From what I understand, I can only do so many sp cli on a particular card in a year (maybe I'm being ultra cautious). I just discovered this site in March of this year, so thats when i first even realized that I should be increasing my limits as much as possible, so I increased the limits of each of my cards at that point to their current levels. That WF card had sat untouched at a $300 limit from 2001 when I was a college freshman until March 2014 when I made a hp to yank it up to 15k to match my other credit union credit card. so Im assuming I should wait until March 2015 to take on CLIs for Jcrew, C&B and Macys, especially the eventual upgrade to Macys AmEx.

As per the targeted AmEx offer, its for their new American Express Everyday. Am Ex has been "courting" me for a few months, as I see the nondisclosed inquiries once a month on my credit report, and this is one of the most attractive of several offers made to me with a Pre Selected application.

I wanted mainly to know, if I apply now for AmEx and am approved for whatever, will it be "risky" to seek that Macys upgrade in March, seeing as there have only been three hard inquiries in the whole year from my EX report, 1 from the WF hp CLI, one from my new landlord, and the 3 with the AmEx application. Will it be best to wait a whole other year?

Thanks in advance

[CreditCuriosity]

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@Anonymous wrote:

Thank you for the replies:

__________________________________________________________________________________________________________________________________

From CreditCuriousity:

You can get any amex you want with that EX score other then the Black card of course.  Of course don't forget about the 3xCLI within 61 days.  So say they approve you on whatever card for just say 5k, in 61 days it could easily by 15k..

__________________________________________________________________________________________________________________________________

Can you elaborate on this a little? Assuming I am approved for 5k through your scenario, what is this 61 day rule? Do i need to request sp CLI immediately after approval?

Thanks in advance

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Read up on this....  It will expain in more detail.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

[Anonymous]

You are a week behind, apply now ( unless you burned them before), with this FICO Score and nice income, you will over $10K at least.