Visa / Master / Discover Application Trigger Financial Review

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nedyah700
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Visa / Master / Discover Application Trigger Financial Review

Postby nedyah700 » Tue Jul 17, 2012 5:43 pm

So AMEX monitors your credit report to make sure they are happy with everything. Has anyone ever heard of another card being added to your report triggering a F/R? My logic was this. AMEX trust you with a certain limit when another card issuer gives you a bigger spending ability then AMEX sees that as increased risk to your overall credit reliability.


Reclusive46
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Postby Reclusive46 » Tue Jul 17, 2012 6:50 pm

I could see them maybe lowering a limit on a credit card.
Amex UK Platinum Charge Card
Amex Blue Cash USA
Amex US Gold Corporate Card
World MasterCard Capital One UK (Free abroad + Cashback + Free Cash Withdrawals with no interest)

nedyah700
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Postby nedyah700 » Tue Jul 17, 2012 11:18 pm

I figured that would be an option. I doubt they would care at all. I was just curious if anyone had seen anything like that take place.

MemberSince99
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Postby MemberSince99 » Wed Jul 18, 2012 6:14 am

No one who knows all the things that can trigger FR is talking, but it's possible.

lucasoil4u
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Postby lucasoil4u » Wed Jul 18, 2012 8:46 am

There is only one way to find out. Dive in and DO IT!

nedyah700
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Postby nedyah700 » Wed Jul 18, 2012 9:24 am

haha!

Yea I was just curious if anyone here had seen any sort of AMEX backlash shortly after opening a new account somewhere else.

lucasoil4u wrote:There is only one way to find out. Dive in and DO IT!

Maximilian
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Postby Maximilian » Wed Jul 18, 2012 10:17 am

I review my credit report with Experian almost every other day. What I have noticed with Amex is that every time there's a hard pull on your credit report, under 'Inquiries Shared Only With You' there's a soft pull by 'AMEX ACCOUNT REVIEW' on the very same day.

This has happened almost every time there has been a hard pull on my account. Though not once has Amex called me to inquire about the hard pulls.

I've seen Chase doing the same, but not as often as Amex.

MemberSince99
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Postby MemberSince99 » Wed Jul 18, 2012 10:23 am

I check my reports every day too, and to tell you the truth, I've come to the conclusion it's about as interesting as watching paint dry. Even with someone like me where stuff changes FAST, it takes a while for your credit report to update to accurately reflect things. For example, I closed my Amex accounts last month but my Gold is still reporting on TU. And I have 3 new accounts that are not yet reporting on TU.

Anyway they soft you like crazy at first to try to indentify problems. If they see you letting balances roll up watch out for AA. Few of them seem to care much about new accounts except for Barclays. But balances, I believe all of them could get you for. I was even reading that Discover has started watching this and calling people for a CLD if they see balances growing.

nedyah700
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Postby nedyah700 » Wed Jul 18, 2012 10:49 am

Who do you guys use from credit monitoring. Any good recommendations? I currently use one that BoA offered and its crap.

MemberSince99 wrote:I check my reports every day too, and to tell you the truth, I've come to the conclusion it's about as interesting as watching paint dry. Even with someone like me where stuff changes FAST, it takes a while for your credit report to update to accurately reflect things. For example, I closed my Amex accounts last month but my Gold is still reporting on TU. And I have 3 new accounts that are not yet reporting on TU.

Anyway they soft you like crazy at first to try to indentify problems. If they see you letting balances roll up watch out for AA. Few of them seem to care much about new accounts except for Barclays. But balances, I believe all of them could get you for. I was even reading that Discover has started watching this and calling people for a CLD if they see balances growing.

Maximilian
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Postby Maximilian » Wed Jul 18, 2012 12:02 pm

I figured as much. That said, I maintain a zero balance on every single revolving account.



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