Does your credit score drop immediately after applying for credit?

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

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I don't think OP should go for 3 Amex cards at once; they're not going to be granted.

IMHO they should be done 1 at a time, at intervals of 8 days or more. And if they're all revolvers, the total should be 2, not 3.

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Does Amex have a rule or something against apping for multiple revolvers at once and/or a rule that you can only possess 2?

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No it's just that in my experience, if you apply for 2 within a week, they will put one on hold and possibly deny it because they just gave you a card. If 1 is a revolver and 1 is a charge card, it's less likely to cause a problem, but it's best to just wait the week IMHO. There is rarely an HP these days when someone who already has an Amex card applies for another.

To my mind the world's greatest expert on Amex peculiarities is @Anonymous so if @Anonymous enters this conversation and disagrees with me, I defer to him.

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Yup, I agree.  One revolver and one charge will usually fly (especially high AF ones) but definitely space out the revolvers.  Depending on credit, I would wait 30 days to apply for another

[Revelate]

Assuming they are coded correctly auto inquiries have a 30 day grace period just like mortgage ones.

No guaruntee that they will be, and if not they count immediately, but definitely sort the auto loan first vs. any credit card... more important financially.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

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I don't think OP should go for 3 Amex cards at once; they're not going to be granted.

IMHO they should be done 1 at a time, at intervals of 8 days or more. And if they're all revolvers, the total should be 2, not 3.

---

Does Amex have a rule or something against apping for multiple revolvers at once and/or a rule that you can only possess 2?

---

No it's just that in my experience, if you apply for 2 within a week, they will put one on hold and possibly deny it because they just gave you a card. If 1 is a revolver and 1 is a charge card, it's less likely to cause a problem, but it's best to just wait the week IMHO. There is rarely an HP these days when someone who already has an Amex card applies for another.

To my mind the world's greatest expert on Amex peculiarities is @Anonymous so if @Anonymous enters this conversation and disagrees with me, I defer to him.

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I wanted to get the ED, Gold & Platinum. Since its one revolver & 2 charge cards do you guys think I'd run into an issue? @Irish80

[Anonymous]

Yesterday I applied for and was approved for the Capital One Platinum. Today I got alerts from CreditKarma, etc. about the new hard enquiry and new vantage scores from TU and EQ that were down about 5 points.

I have no way of getting a FICO score on demand, but we can be pretty sure whatever effect a hard pull has, it's immediate.

[Anonymous]

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@Anonymous wrote:

I have no way of getting a FICO score on demand...

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Are you signed up on creditscorecard.com and/or creditscore.com?  Both of those will give you an EX Fico 8 score upon signing up and it will update every month from there on out.

[Anonymous]

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@Anonymous wrote:

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@SouthJamaica wrote:

---

@Anonymous wrote:

---

@SouthJamaica wrote:

---

---

I don't think OP should go for 3 Amex cards at once; they're not going to be granted.

IMHO they should be done 1 at a time, at intervals of 8 days or more. And if they're all revolvers, the total should be 2, not 3.

---

Does Amex have a rule or something against apping for multiple revolvers at once and/or a rule that you can only possess 2?

---

No it's just that in my experience, if you apply for 2 within a week, they will put one on hold and possibly deny it because they just gave you a card. If 1 is a revolver and 1 is a charge card, it's less likely to cause a problem, but it's best to just wait the week IMHO. There is rarely an HP these days when someone who already has an Amex card applies for another.

To my mind the world's greatest expert on Amex peculiarities is @Anonymous so if @Anonymous enters this conversation and disagrees with me, I defer to him.

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I wanted to get the ED, Gold & Platinum. Since its one revolver & 2 charge cards do you guys think I'd run into an issue? @Irish80

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I'd apply for the ED and which charge card you prefer first and then wait 30 days for the 2nd charge card.  I don't know your financial situation but even if you were to be approved, getting all 3 at once, requires a lot of spending to meet the bonus requirements.  Additionally, you want to make sure you maximize the bonus opportunities so only apply for the cards when you can get 25K MR points for the ED, 50K for the Gold and 100K for the Platinum.  Don't apply for them (especially the charge cards) with lower sign up bonuses or you will cost yourself lots of money, potentially $2-3K if you use the points properly.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I have no way of getting a FICO score on demand...

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Are you signed up on creditscorecard.com and/or creditscore.com?  Both of those will give you an EX Fico 8 score upon signing up and it will update every month from there on out.

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I'm on creditscorecard, which generates my FICO on the 25th, and get one from AMEX on the 18th, both from Experian. By the time the AMEX generates again I'll have another month of payments, aging, and whatever my statement balances end up being. 

I can't sign up on creditscore.com - for some reason Experian products won't match me