Applied for 4 AMEX cards within a week

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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BYTech
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Joined: Fri Apr 08, 2016 9:04 pm

Re: Applied for 4 AMEX cards within a week

Postby BYTech » Sun May 08, 2016 12:59 pm

Tubpbs wrote:
That is probably only the drop from the inquiries. I would guess you experience more dropping when all the new accounts report, but I could be wrong. Opening that many new accounts in that short of a period of time (ignoring the fact that it was all with one creditor - which is extremely unusual) is generally going to be viewed as extremely risky behavior. Long run, you will be absolutely fine, but in the short run, I'd expect my scores to take a bigger dip than that.


Thanks for the insight Tubpbs - yeah I'll probably see a couple more drops, I've see my score drop 3 different instances since 4/25. So I am assuming my Platinum card has not shown up yet since I wasn't approved for that card until May.
Cards:
Amex: Platinum Mercedes (5/16), PRG (4/16), Gold (4/16, will close), Mercedes Revolver (4/16), ED (4/16), SPG (5/16), Business Gold (5/16), Business Green (6/16), Business Platinum Delta (6/16), Corporate Green (6/16)
BofA: Cash Rewards (6/07)
Citi: Prestige (5/16), TY Premier (5/16)


BYTech
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Posts: 43
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Re: Applied for 4 AMEX cards within a week

Postby BYTech » Sun May 08, 2016 1:00 pm

CarefulBuilder14 wrote:

Amex generally takes at least a month to report new accounts, and sometimes longer if the customer is new.[/quote]

Sounds good - thanks for the info.
Cards:
Amex: Platinum Mercedes (5/16), PRG (4/16), Gold (4/16, will close), Mercedes Revolver (4/16), ED (4/16), SPG (5/16), Business Gold (5/16), Business Green (6/16), Business Platinum Delta (6/16), Corporate Green (6/16)
BofA: Cash Rewards (6/07)
Citi: Prestige (5/16), TY Premier (5/16)

Tubpbs
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Re: Applied for 4 AMEX cards within a week

Postby Tubpbs » Sun May 08, 2016 1:05 pm

BYTech wrote:
Tubpbs wrote:
That is probably only the drop from the inquiries. I would guess you experience more dropping when all the new accounts report, but I could be wrong. Opening that many new accounts in that short of a period of time (ignoring the fact that it was all with one creditor - which is extremely unusual) is generally going to be viewed as extremely risky behavior. Long run, you will be absolutely fine, but in the short run, I'd expect my scores to take a bigger dip than that.


Thanks for the insight Tubpbs - yeah I'll probably see a couple more drops, I've see my score drop 3 different instances since 4/25. So I am assuming my Platinum card has not shown up yet since I wasn't approved for that card until May.


The drops will happen but it's unavoidable and it needs to happen if you want to grow.

The scores will come back.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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CarefulBuilder14
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Location: United States

Re: Applied for 4 AMEX cards within a week

Postby CarefulBuilder14 » Sun May 08, 2016 2:04 pm

My reporting times per CK (accurate within 1 week):
5 weeks for first card, 8 weeks, 6 weeks, 5 weeks and counting.

Hmm...if that adage "the first card takes longer" is true, it didn't apply to me.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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