Applying for multiple Amex cards within a short period?

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patrick bateman
 
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Applying for multiple Amex cards within a short period?

Postby patrick bateman » Thu Jan 05, 2012 2:28 pm

I'm a young small business owner (early 20s). I've been with American Express since 2008. I originally got added to my father's amex account. He has a Costco Platinum card. A little over a year ago, I picked up the zync card on my own account.

Last year I spent ~34k on my card and have had no late/missed payments and have a decent credit history. Since my history is young, I only have a 767 faco score. (I utilize credit secure through American Express.)

My gross income is ~100k and I have about 25k of liquid assets (checking + retirement accounts)

I really want to get accepted for the Platinum card, as I'm going to be a frequent flyer and would appreciate the benefits of the card.

I called American Express to apply over the phone, but I was a bit weary of applying for the Platinum card because of my limited credit history.

I chose to apply for the Gold Premier rewards out of safety (foolish mistake). I managed to get my application approved and the card is being shipped out.

Would my circumstances yield a platinum card approval?

If I don't activate the gold card, will I be able to apply for a platinum? Would American Express do a second hard credit pull with the second application?

Should I keep the Gold Card for 13 months and attempt an upgrade?

I do not mind the annual fee difference, as the marginal benefits outweigh the marginal costs.

Thanks for all your help.


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PlatinumAMEX94
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Postby PlatinumAMEX94 » Sun Jan 08, 2012 1:41 am

You could always call them and ask. Since you are already a member, AmEx can pull credit reports on you all they want and it doesn't count as a hard inquiry. Usually you have to have the Gold Card for awhile to establish a history with them. The worst they could do is say no, you have to wait. When you upgrade they apply what you have already paid in fees toward the new card.
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Postby Money card » Sun Jan 08, 2012 9:03 pm

Should I keep the Gold Card for 13 months and attempt an upgrade?

I do not mind the annual fee difference, as the marginal benefits outweigh the marginal costs.


That sounds like a great idea I would say yes. you never know you might just end up liking the gold rewards better than the platinum.

I would if I were you.

ooxs
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Postby ooxs » Mon Jan 09, 2012 12:15 am

I applied for 3 cards in two days and all was approved. I also already had a clear card totaling four applications in about six months.

This move is highly UN-RECOMMENDED. My application for platinum was for 50 000 Membership Rewards points for new Platinum card signup, transferred 50 k to Delta and I got 30% 15K Point certificate back that was credited back to my account. For 75000 Miles it was worth the hard pull but again I already have all the credit I need and don’t plan on applying for anything for at least two years.

My take is you stay gold, but you know what is best for you.

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Mon Jan 09, 2012 3:39 pm

ooxs wrote:I applied for 3 cards in two days and all was approved. I also already had a clear card totaling four applications in about six months.

This move is highly UN-RECOMMENDED. My application for platinum was for 50 000 Membership Rewards points for new Platinum card signup, transferred 50 k to Delta and I got 30% 15K Point certificate back that was credited back to my account. For 75000 Miles it was worth the hard pull but again I already have all the credit I need and don’t plan on applying for anything for at least two years.

My take is you stay gold, but you know what is best for you.


I agree with ooxs, I would wait. I received 50,000 points when I signed up. Of course, they didn't show up like they were supposed to, so I called. I was amazed at how much nicer they are when you call Platinum CS versus Gold. I forwarded the email and immediately I received an apology. 50k miles in rewards is a very nice incentive. When AE decides you fit the profile, your account will flag the marketing department to send you an invitation in the postal mail. At that point, if you wait until the next invitation, you are more likely to get bonus points for accepting it. My first invitation had no points attached to it.
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
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Getting the Blue Cash shortly after the Platinum Card?

Postby SunnyZ » Mon May 07, 2012 2:29 pm

Hi,

I recently just got approved for the platinum card. But i want another card that's just a credit card. So my question is that a good idea to apply for the blue cash card right after? if not then how long should i wait?

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Postby hematino » Fri May 11, 2012 6:06 pm

I applied for a Blue Cash Preferred and got accepted with a credit limit of $2000, then turned around and applied for a Green Card a month later and got accepted. Prior to those, I have never had an American Express card before.
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