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When to re-apply for a credit card?

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CreditRebuilder2020
Frequent Contributor

When to re-apply for a credit card?

Currently in the garden and in rebuilding mode. 

 

My scores are starting to dip into the 660 range across the board. Back in April, I was approved for an Amex Green Card. I have been running my life through that thing and it has been a great charge card. Spending roughly $2-$3K a month on it and paying it off in full, as you have to with Amex chraged cards.

 

When I applied for the Green Card and was approved, I followed up with an application for an Amex Everyday Card that same day, because of the 2 apps, 1 HP situation. At the time my credit score was in the 630's across the board. I also then applied for an Amex Gold Delta card not long after that, just was feeling a little giddy because getting in with Amex was a huge credit goal of mine for the past two years of rebuilding all the way from the 400's from where I was at in early 2016 after a bad car loan, some chargeoffs, and some student loans that I had a ton of missed payments on that I'm now back on track with. 

 

I got denied on both of them. 

 

My question is....when do I re-apply for another Amex card? I would like a revolver with them also. I love the charge cards but I'm looking to extend my credit limits because the highest card limit I have right now is $500. And that's on 2 cards. Cap One Platinum & Credit One. Should I just wait, wait, wait or pull the trigger when I get up into the 670s? 

 

I don't really plan on doing it anytime soon, but I don't know what the rule is when it comes to waiting to re apply for cards. Because I'm in with Amex it won't be a HP. 

 

Any advice would be great Smiley Wink


X1 VISA SIG $15,500/ AMEX Gold / Petal 1 $3600 / Wells Fargo Active Cash VISA $3K / VENMO Visa $900 / Verizon Visa $2K / Apple Card $1500 SL / Wyndham Rewards Earner Visa $500 / WALGREENS Store $1K / Amazon Store $5000 SL/ Discover IT Chrome $2500K / BP Prime Rewards VISA $4350 / PayPal MC $3500 / BOA BankAmericard $2K / BOA Cash Rewards $1K / Cap One Savor One $1200 / Cap One QS1 $950 / Blaze MC $2250 / Credit One $850 / Credit One AMEX $1200 / OpenSky $600 / AvantCard $1000 / Discover IT Cash Back (Graduated) $400 / eBay MC $750
FEB '22 EX: 698 EQ: 700 TU: 713 | UTL: 23% | Total Credit Limit: $54000
Goal Score: 675 for all FICOS (ACHIEVED NOVEMBER 2021) | NEW GOAL SCORE: 725 for ALL FICOs
Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: When to re-apply for a credit card?

Amex does appear to have a rule resulting in an instant denial if you apply for a total of three cards within a 90 day period....

 

https://thepointsguy.com/guide/credit-card-application-restrictions/

 

... but it may not be enforced if one of those was a charge card. 

 

Still, it can't harm to make sure that your next app is 100 days after the "Date Opened" of your last two Amex cards.  Credit Karma's reports are a nice free tool for grabbing the exact Date Opened for a card.

 

In the meantime you can work on improving your scores, which are borderline at best and may be the real cause of your denial.  Many people can help you with that, though we'd need to know a lot more about your credit profile.

Message 2 of 3
Anonymous
Not applicable

Re: When to re-apply for a credit card?


@CreditRebuilder2020 wrote:

Currently in the garden and in rebuilding mode. 

 

My scores are starting to dip into the 660 range across the board. Back in April, I was approved for an Amex Green Card. I have been running my life through that thing and it has been a great charge card. Spending roughly $2-$3K a month on it and paying it off in full, as you have to with Amex chraged cards.

 

When I applied for the Green Card and was approved, I followed up with an application for an Amex Everyday Card that same day, because of the 2 apps, 1 HP situation. At the time my credit score was in the 630's across the board. I also then applied for an Amex Gold Delta card not long after that, just was feeling a little giddy because getting in with Amex was a huge credit goal of mine for the past two years of rebuilding all the way from the 400's from where I was at in early 2016 after a bad car loan, some chargeoffs, and some student loans that I had a ton of missed payments on that I'm now back on track with. 

 

I got denied on both of them. 

 

My question is....when do I re-apply for another Amex card? I would like a revolver with them also. I love the charge cards but I'm looking to extend my credit limits because the highest card limit I have right now is $500. And that's on 2 cards. Cap One Platinum & Credit One. Should I just wait, wait, wait or pull the trigger when I get up into the 670s? 

 

I don't really plan on doing it anytime soon, but I don't know what the rule is when it comes to waiting to re apply for cards. Because I'm in with Amex it won't be a HP. 

 

Any advice would be great Smiley Wink


 

Fortunately, Amex makes it easy for you.  If you log in to your online account and click on Menu > Cards > View All Credit Cards you should be able to see all the cards Amex offers (you should see 18 cards but Amex has a dynamic website which sometimes hides cards you are not qualified for).

 

Select each card, and click on the Apply Now button.  If you see a statement saying "CreditRebuilder2020, You are pre-approved! Get a decision in as little as 30 seconds" you should be able to get the card with just a soft pull by just filling in the information requested.  If the statement says "Expanding your membership with us is easy" then obviously you are NOT pre-approved, so just hit your browser's back button and check the next card.

 

That said, your current scores are borderline and even if Amex takes a chance and approves you for a credit card you'll most likely be stuck with a $500 or $1000 limit.  On these boards this is referred to as "credit steps" which is a reference to Capital One's program of the same name.  Gardening until your Experian FICO 8 score is at least 670 will improve your odds of getting a decent starting limit.

 

For other lenders you should first check their pre-approval pages before applying.  You can find a list of such pages by clicking this link.

Message 3 of 3
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