- Centurion Member
- Posts: 4059
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
I recently got an 'invitation to apply' (not a pre-approval) for the Amex PRG. I don't travel enough to really justify the $175 fee (waived the first year) so it would probably not be a card I'd keep after the first year. What I really want is the Blue Cash Everyday or Preferred (I have lots of gas and grocery spending). I am wondering...
1. With such a short total credit history and AAoA to have prime cards, am I right in thinking that even one more hard pull could quite possibly upset Chase or Discover? I definitely don't want either of these to be closed. Perhaps I should wait to see if I get an auto CLI from Chase in the next month or two before applying? Or just wait several months and let the hard pulls and accounts age?
TU has one hard pull from Oct 2012.
EQ has one from Oct 2012 and one from March 2014.
EX has one from March 2014 and Nov 2013 and may have one from Oct 2012.
2. Do you suggest using the charge PRG as a stepping stone towards the credit BCE/BCP? Would it make sense to, say, get the PRG and use it for 10 months, then apply for the BCE/BCP, and then cancel the PRG right after that? I'm not sure if Amex would treat this as an effort to build a history with them vs. an effort to (downgrade?) to a less prestigious (but more practical for me) card. Or is it better to wait a while and go right for the BCE/BCP and not bother with the PRG if I wouldn't keep it longer-term?
3. Is it just the anecdotes I've seen or do lenders pull Experian a lot more than TransUnion? Is there any reason for this?
I will not be applying for a loan on any big-ticket items like a car or house in the next two years, and I PIF, so I'm not worried about APRs rising or losing the opportunity to get a different new card in the near future. I'm just concerned about the risk of an existing card being totally closed or having a limit decreased.
TU FICO 759 - Discover
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech