Random AMEX question

[drboxing]

definitely keep us posted, hope it all works out. I have the AMEX Business Platinum and I love it, works great, perks are great

[Anonymous]

Thanks. The fact the savings account is taking 7-10 days to process stinks.

Another reason I haven’t just jumped into the app yet is because some family members are trying to convience me there are better cards then Amex our there. My purpose with going with Amex is to grow the cards, I am staying away from slow growing cards. I’ve expirenced that already with Cap1 and Disc which is why I closed them.

[Anonymous]

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@Anonymous wrote:

I wouldn't mind apping with them though without this story. I am at 52% Utilization though on Ex report. It also happens to be a 698 score at the moment. Dont think its wise at the moment. 

Pre_Qualled on thier site. 

AOA - 6 years 10 mnths

1 30 day late pay in 2015

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I would have not thought I could get an amex until I was 650 or better, and at 635 I was pre-approved for delta gold and SPG.   Not the cards I wanted with them, but it gets my foot in the door as my first amex cards ever.  

If your showing those as pre-approved, your chances of getting them to me, would be solid.   

BCE is my goal card, hopefully soon.

[sid33]

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@Anonymous wrote:
Thanks. The fact the savings account is taking 7-10 days to process stinks.

Another reason I haven’t just jumped into the app yet is because some family members are trying to convience me there are better cards then Amex our there. My purpose with going with Amex is to grow the cards, I am staying away from slow growing cards. I’ve expirenced that already with Cap1 and Disc which is why I closed them.

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Did something change with their savings account? I opened one last week in about 10min on their website.

[Anonymous]

Question for you sid since you just opened a savings. Do you have an active fraud alert on the Cr? Bc I do and that’s the only thing I could see as to why it’s taking so long I think they’ll need to verify.

I also applied for Alliant cu savings and had to give them all sorts of documents so..

When considering the prequals I think I’d like to shoot for Delta gold or blue and a Rewarss gold or Green. Don’t really like the Cash or blue cards, maybe I’m missing why folks love them?? Not sold on the idea that I’d have better odds of approval on these 3 cards vs cold applying for the Delta or SPG card..

[sid33]

No, I didn’t have an active fraud alert. That must be it.  I did a discover savings as well just because it’s easier to access than the AMEX. So AMEX will be longer term stuff and discover will be emergency funds after the $1k in dcu savings collecting 5.12%.  

Another reasons for opening these where to build a relationship with them before I App for their cards. Don’t know if it helps or not.

[Anonymous]

Sid that's exactly my reasoning as well. See I've banked with both Wells and BofA for over 13 years. But BofA doesn't have Amex products and Wells appears to be A paper only.

[Anonymous]

Say I were to app cold for one of the Delta cards but was denied. If its within a few minutes of the denial. Would Amex use the same HP if I were to apply through the prequal page for the PRG + BED cares or would it be a new pull for each. Hope that makes sense, it did to me as I'm sipping this 3roses.

[SouthJamaica]

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@Anonymous wrote:

I was speaking with a couple people at work during lunch about liking AMEX and wanting in the futuer to earn a card with them but not being able to at the moment. Plus I am going to be doing a HELOC within the next 6 months. One of them told me this strategy they supposidly used and it worked for them. I think its personally a bunch of BS but thought I'd ask the gurus on MF. 

Join AMEX savings account online , make an initial deposit.

Wait somewhere between 30-60 days for the savings account to have matured a little.

Then Apply while logged in for a Charge or Credit card. When you apply it should count you as a member now and SP vs HP. 

Whats everyones thoughts on this?

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Since you're planning to apply for a HELOC in 6 months you should not be applying for any new credit. Period.

[Anonymous]

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@Anonymous wrote:

Say I were to app cold for one of the Delta cards but was denied. If its within a few minutes of the denial. Would Amex use the same HP if I were to apply through the prequal page for the PRG + BED cares or would it be a new pull for each. Hope that makes sense, it did to me as I'm sipping this 3roses.

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If any card is denied, it stops any other apps. I got my delta approved and then decided to try for BCE and denied.  Since charge cards are different, tried for a green card and denied due to the BCE.  Since BCE is harder to get than delta, I would say it wouldn't but YMMV.   You can only be approved 2 credit cards in a 90 day period.  Charge cards are unlimited, but if you were denied a card it stops all approvals.