Does applying for AMEX require any strategies?

[acreditdummy123]

They have a 5 card rule. I think. Is there a particular order to apply for personal or business cards from them or anything that needs to be kept in mind while applying? 

[coldfusion]

The "rule" only applies to credit cards and like with many of their other "rules" they can choose to be somewhat flexible with it if your overall credit history and your specific value to American Express, in their eyes, justifies their flexibility.  Charge cards don't count against that total.

They also have a 1/5 and 2/90 day rule but much like the 5 card rule they aren't immutable, and some people have even been successful in being approved for 2 AMEX credit cards on the same day.

If you have a BK7 reporting their policy is that you will not be approved if less than 61 months out from discharge. 

For any of a number of reasons including that your application velocity is too fast or the spend on your existing AMEX cards is too sparse they may choose to not offer you a signup bonus when you apply for an additional card.  If this is the case they will advise you before accepting your application and give you the option to abandon the application or to go ahead and proceed.  I've never seen where there has been any real corellation shown between their refusal to extend a signup bonus and the odds of an approval if one chose to proceed.

After your first card they tend to only soft pull for subsequent applications but they can and sometimes do perform another hard pull, primarily on Experian.

An application can occasionally trigger a 4506-C request to authorize them to look at your last 2 years federal tax returns for the last 2 years, and while you can refuse the authorization but expect a denial.  

[Anonymous]

American Express offers an online prequalification tool, which is nice. So you can find out if they're interested in having you come onboard with only a soft pull. If they prequalify you, they'll tell you for which card. Then if you choose to proceed, they will perform a hard pull. Of course even if they don't prequalify you, you might still be approved if you go ahead and apply anyway. Many people have reported that the Delta SkyMiles Gold American Express card was their first offer. I would suggest accepting any card they offer you so you can get your foot in the door. Then after you're in with Amex, you can apply for additional cards and credit line increases with only soft pulls. I have been a member since 1997 and I love them. Nobody does it better than American Express. My first card was the American Express Green Card.

[coldfusion]

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@Anonymous wrote:

American Express offers an online prequalification tool, which is nice. So you can find out if they're interested in having you come onboard with only a soft pull. If they prequalify you, they'll tell you for which card. Then if you choose to proceed, they will perform a hard pull. Of course even if they don't prequalify you, you might still be approved if you go ahead and apply anyway. Many people have reported that the Delta SkyMiles Gold American Express card was their first offer. I would suggest accepting any card they offer you so you can get your foot in the door. Then after you're in with Amex, you can apply for additional cards and credit line increases with only soft pulls. I have been a member since 1997 and I love them. Nobody does it better than American Express. My first card was the American Express Green Card.

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For CLIs, correct. Some of us here know firsthand that it's a YMMV when it comes to additional cards but no clear pattern has emerged regarding what the criteria may be that make a HP on a subsequent application more likely.

[righthererightnow]

"If you have a BK7 reporting their policy is that you will not be approved if less than 61 months out from discharge. "

THIS. I got denied because of a BK on file (I'm three years out, 4 if you count filing year).

[Credit12Fico]

a) do you have a pulse?

b) do you have a credit score?

If the answer is yes, Approved*    

*assuming you didn't burn them in the past. 

[TRC_WA]

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@righthererightnow wrote:

"If you have a BK7 reporting their policy is that you will not be approved if less than 61 months out from discharge. "


THIS. I got denied because of a BK on file (I'm three years out, 4 if you count filing year).

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... and I closed my $1k Delta Amex card shortly before filing BK 13 in Feb 2017.  I never got a CLI with that card over 2+ years of usage... presumably because I didn't use it much.  The perks weren't all that great beyond the initial SUB.

Fast forward to May 2022 and Amex approved me for the same card... with a $10k limit.

How I got what was basically was a 10x CLI (along with new SUB) is one of life's big mysteries... but I'll take it.  The perks have since been upgraded (2x miles on groceries, etc) but for me the biggest perk is the huge CL.   It's my go to card for at least the rest of 2022 to reach both spend requirements for the SUBs.

Point being... if you are filing BK I would do what I could to avoid burning Amex.  I'm pretty sure I wouldn't have the card with the limit I have now had I burned them.

[OmarGB9]

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@TRC_WA wrote:

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@righthererightnow wrote:

"If you have a BK7 reporting their policy is that you will not be approved if less than 61 months out from discharge. "


THIS. I got denied because of a BK on file (I'm three years out, 4 if you count filing year).

---

... and I closed my $1k Delta Amex card shortly before filing BK 13 in Feb 2017.  I never got a CLI with that card over 2+ years of usage... presumably because I didn't use it much.  The perks weren't all that great beyond the initial SUB.

Fast forward to May 2022 and Amex approved me for the same card... with a $10k limit.

How I got what was basically was a 10x CLI (along with new SUB) is one of life's big mysteries... but I'll take it.  The perks have since been upgraded (2x miles on groceries, etc) but for me the biggest perk is the huge CL.   It's my go to card for at least the rest of 2022 to reach both spend requirements for the SUBs.

Point being... if you are filing BK I would do what I could to avoid burning Amex.  I'm pretty sure I wouldn't have the card with the limit I have now had I burned them.

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Yea I'm also glad I didn't burn them when my credit went south and I defaulted on all of my accounts back in 2018. Didn't go as far as BK, but still got a bunch of COs from various lenders I'm still recovering from (all have been paid/settled now though). I closed my Amex PRG shortly before everything tanked.

[Anonymous]

@Credit12Fico  Too funny