If you app for more than one AmEx card on the same day, they will either only pull one hard, or they'll pull one for each, but they will be counted as one for scoring. (Help me out here if you would, AmEx warriors!)
The reason that hard inquiries are done is because creditors are supposed to report when you are seeking new credit. A second card from the same company is seeking new credit. Many creditors are so rigid about this that they will do a hard inquiry if you request a credit line increase (CLI) on an existing account, instead of waiting for them to offer it.
Off the top of my head, Penfed (Pentagon Federal Credit Union) is the only creditor I can think of that allows apps for multiple products off of one hard inq. And even that is limited to 60-90 days after the initial pull. (They say 60-90 days, but it seems to work out at 90 days in practice.)
Did they give you a reason for the Fidelity decline, or are they going to mail a letter? It's worth calling for a reconsideration, or at least an explanation. As they are FIA, that usually means Bank of America, and if you ask for a credit specialist, you might get it reversed.
I'm pretty sure that fused has a Fidelity card. You might pm him for a number. Good luck!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
