Amex Cash Magnet - Approved!

[Anonymous]

I live in Orange County CA and I app'd on 11/16/19 – I received their message that my app was being reviewed… blah blah blah.

I only decided to app for the new card after my Amex EveryDay CLI request was approved (15k to 25k).

I’ve been an Amex card holder since March 2019.

Amex did not pull my credit (my Experian credit profile was frozen).

I called Amex the following day and I spoke with a CSR who explained my app was not automatically approved because their system could not verify my address. I verified my address and my identity by answering a few questions.

I was approved (SL 20k).

As of 11/20/19 my Experian FICO 8 Score is 741 (per AMEX).

I received their approval notice and it listed my Experian FICO 8 Score as 738 with a score

date of 10/29/19 (I was denied a CLI for my Amex ED card on that date). I assume the Experian freeze did not allow Amex to pull a soft or hard credit inquiry via Experian on 11/16/19.

My entire credit profile UTL was 12%. 

Income is 65k (individual) but I used my household income (120k).

• LendingClub PL – $21.5k (opened 3/2019)
• IT - CL $15k (opened 10/2018)
• BofA Cash Rewards - CL $5k (opened 10/2018)
• NFCU GO - CL $25k (opened 10/2018)
• PenFed Power Cash Rewards - CL $10k (opened 10/2018)
• CITI Simplicity – CL $4,400 (opened 3/2019)
• Amex EveryDay – CL $25k (opened 3/2019)
• Wells Fargo Platinum – CL $8,000 (opened 3/2019)
• NFCU Cash – CL $20k (opened 5/2019)

I’m carrying $6k (promo balance) on Discover and $7k (promo balance) on GO.

All zeros except for these two cards.

I’m going to close BofA and possibly CITI.

BofA will not increase my CLI due to me opening too many new accounts. I understand their stance, but the limit is just too low. CITI has increased my limit two times since March 2019, so I’m hoping to get a large CLI next month (6 months after last increase).

I rather build the limits on my other cards with heavy usage.

[AllZero]

Congratulations on your approval!

[AllZero]

BoA does soft pull cli every 90/91 day cycle. It would be counterintuitive to close it, that is if you have the patience to garden for a spell.

[Anonymous]

I know - I just get frustated with them at times. 

My sister in law is 19 years old and BofA has gradually increase her credit limit to 20k within one year. 

I'm going to keep it open for now but I will

not use the card heavily anymore. I'll use for gas, Hulu, SlingTV and Amazon monthly sub fees.

LOL.

[AllZero]

With patience, you too can get that coveted near $100k limit at $99,900. I think they prefer you put a little spend on it though.

[FireMedic1]

Congrats! Many people would love to be in your shoes with what you have. Credit is like your drivers license. Its a privilage . Not a right. Good luck on gettting your CLI's.

[Anonymous]

I agree with you 100%.

Aside from my credit... I am very blessed for the things that I currently have in my life as well. 

[stonedog23]

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@Anonymous wrote:

I know - I just get frustated with them at times. 

My sister in law is 19 years old and BofA has gradually increase her credit limit to 20k within one year. 

I'm going to keep it open for now but I will

not use the card heavily anymore. I'll use for gas, Hulu, SlingTV and Amazon monthly sub fees.

LOL.

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You said that you were denied for too many new accounts. Your teen sis in law probably doesn't have the new account total that you do therefore they like her profile a tad more. 

[UH_HUH]

Congratulations on all your success!! 

Enjoy :-)

[Anonymous]

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@Anonymous wrote:

I live in Orange County CA and I app'd on 11/16/19 – I received their message that my app was being reviewed… blah blah blah.

I only decided to app for the new card after my Amex EveryDay CLI request was approved (15k to 25k).

I’ve been an Amex card holder since March 2019.

Amex did not pull my credit (my Experian credit profile was frozen).

I called Amex the following day and I spoke with a CSR who explained my app was not automatically approved because their system could not verify my address. I verified my address and my identity by answering a few questions.

I was approved (SL 20k).

As of 11/20/19 my Experian FICO 8 Score is 741 (per AMEX).

I received their approval notice and it listed my Experian FICO 8 Score as 738 with a score

date of 10/29/19 (I was denied a CLI for my Amex ED card on that date). I assume the Experian freeze did not allow Amex to pull a soft or hard credit inquiry via Experian on 11/16/19.

My entire credit profile UTL was 12%. 

Income is 65k (individual) but I used my household income (120k).

• LendingClub PL – $21.5k (opened 3/2019)
• IT - CL $15k (opened 10/2018)
• BofA Cash Rewards - CL $5k (opened 10/2018)
• NFCU GO - CL $25k (opened 10/2018)
• PenFed Power Cash Rewards - CL $10k (opened 10/2018)
• CITI Simplicity – CL $4,400 (opened 3/2019)
• Amex EveryDay – CL $25k (opened 3/2019)
• Wells Fargo Platinum – CL $8,000 (opened 3/2019)
• NFCU Cash – CL $20k (opened 5/2019)

I’m carrying $6k (promo balance) on Discover and $7k (promo balance) on GO.

All zeros except for these two cards.

I’m going to close BofA and possibly CITI.

BofA will not increase my CLI due to me opening too many new accounts. I understand their stance, but the limit is just too low. CITI has increased my limit two times since March 2019, so I’m hoping to get a large CLI next month (6 months after last increase).

I rather build the limits on my other cards with heavy usage.

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Congrats on your approval although I question the usefulness of having both cashback and Membership Rewards points cards; ideally you'd probably only want to have one rewards system with Amex.

You seem to have a fundamental misunderstanding of how Amex works (or credit pulls in general).  First, locking your credit reports has no effect on an existing creditor's ability to pull your report(s) since you already gave them permission when you agreed to the terms of your first card (see your Membership agreement).  Amex soft pulls your credit reports on a fixed date each month (10/29 in your case) so its not necessary for them to pull it again when you make a new application or request; they simply evaluate that app or request using the last soft pull report in their records.