Happy April 1st

A place to discuss anything... except credit cards!
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Gamma
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Postby Gamma » Sun Apr 12, 2015 1:45 pm

popamode72 wrote:CLD on two accounts, then after calling them, full suspension of all of my accounts and FR so I closed them all.

Just read your previous post about your experience. Sucks they treated you that way. Just know that they might ask for the same documents later on if you decide to apply for their cards again. I myself am lucky they approved my cli request yesterday from 5.4k to 10k, my highest limit card for someone who earns about 27k/year.


popamode72
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Postby popamode72 » Sun Apr 12, 2015 2:33 pm

Gamma wrote:Just read your previous post about your experience. Sucks they treated you that way. Just know that they might ask for the same documents later on if you decide to apply for their cards again. I myself am lucky they approved my cli request yesterday from 5.4k to 10k, my highest limit card for someone who earns about 27k/year.


Do you know of cases of people who reapply for Amex and don't documents asked from them? I imagine that most cases after an FR, they'll keep asking for it even when reapplying.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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otter
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Postby otter » Sun Apr 12, 2015 4:02 pm

Gamma wrote:Their purchase protection and extended warranty should be reason enough, especially since your BCE has no annual fee. All claims I've filed with Amex have been approved for purchases of $100-$250 with minimal effort.


My BCE also has a toy limit. It does have no annual fee so it will remain in the sockdrawer until it rots.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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otter
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Postby otter » Sun Apr 12, 2015 4:04 pm

Gamma wrote:Just read your previous post about your experience. Sucks they treated you that way. Just know that they might ask for the same documents later on if you decide to apply for their cards again. I myself am lucky they approved my cli request yesterday from 5.4k to 10k, my highest limit card for someone who earns about 27k/year.


Once First Premier Bank buys AXPq, all will be forgiven.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

popamode72
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Postby popamode72 » Sun Apr 12, 2015 4:30 pm

otter wrote:Once First Premier Bank buys AXPq, all will be forgiven.


I think they'll go the way of the original Diners Club the way they're going.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Apr 12, 2015 10:58 pm

popamode72 wrote:Do you know of cases of people who reapply for Amex and don't documents asked from them? I imagine that most cases after an FR, they'll keep asking for it even when reapplying.


I expect that they would do something like resume the FR. If the AA all started with finding something they didn't like on an Experian soft pull, then they would probably want to go over your finances in more detail before extending you new credit. Their risk concerns were clearly pretty high when you closed your accounts.

I suppose that might not be the case if they like your credit report a lot more during a future application. They might not bother with an FR if they don't see the risk that they recently did.

otter wrote:My BCE also has a toy limit. It does have no annual fee so it will remain in the sockdrawer until it rots.


$1k is a toy limit, especially for Amex. On the other hand, BCE isn't really the kind of card you might want a huge limit on, anyway. The rewards and perks are inferior to PRG.

I'm not sure what your spending is, but someone would have to really be spending a lot of money to actually need $90,450 (or $91,911 for that matter) in credit. It's not so surprising that Amex would want to limit its exposure and keep you at a low CL when your BCE and Delta are sockdrawered, anyway.
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

popamode72
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Postby popamode72 » Mon Apr 13, 2015 8:58 am

CarefulBuilder14 wrote:I expect that they would do something like resume the FR. If the AA all started with finding something they didn't like on an Experian soft pull, then they would probably want to go over your finances in more detail before extending you new credit. Their risk concerns were clearly pretty high when you closed your accounts.

I suppose that might not be the case if they like your credit report a lot more during a future application. They might not bother with an FR if they don't see the risk that they recently did.



$1k is a toy limit, especially for Amex. On the other hand, BCE isn't really the kind of card you might want a huge limit on, anyway. The rewards and perks are inferior to PRG.

I'm not sure what your spending is, but someone would have to really be spending a lot of money to actually need $90,450 (or $91,911 for that matter) in credit. It's not so surprising that Amex would want to limit its exposure and keep you at a low CL when your BCE and Delta are sockdrawered, anyway.


I'll try that then. Just let that EX inquiries and newer accounts age more, including old ones from nearly two years ago, let the score go up a bit, then reapply sometime in the next year and see what happens. One of the biggest triggers is that I had more inquiries last month than other months this year and how somehow Wells Fargo did an EX inquiry on me despite it being frozen when I tried getting a CLI on my card. That'd be really interesting if they don't do the FR again by then if my profile is more favorable in their eyes.

It would be good if there was some verifiable information from other people that have gone through the same thing.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Apr 13, 2015 9:48 am

popamode72 wrote:I had more inquiries last month than other months this year


When you're using language like that, I think it's a sign you have way too many inquiries, period. Inquiries should be a few times a year, not a few every month. I've only had one inquiry for 2015 (EX HP for CSP) and my FICOs have been improving.

My guess about not having the FR resume if you had an improved report was really just a guess and based on what your report might look like in two years. If you want to get an Amex again before that, I'd be ready to continue the FR.
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

MemberSince99
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Postby MemberSince99 » Mon Apr 13, 2015 10:24 am

I've never had an Amex FR (knock on wood) but from eveyrthing I've read if you have one and close the cards, ok, but if you apply in the future you are flagged for FR immediately. So you might get approved, but you will still have to comply with FR or face having the card closed.


I see a lot of lack of love for Amex here where they seem to be idolized on the other forum. If they have eliminated backdating on new cards, that would really suck. I think that's a big negative. I was rather hard on them myself when I'd call and get someone I could barely understand who would screw up what I asked them to do - if I wanted that I could have chosen Cap One. To me Amex is kind of a mixed bag - backdating used to be huge, but if it's gone, given the lousy customer service on the low end cards (a lot of which still have annual fees) then it's kind of gone downhill, no doubt. They still have a pretty generous CLI system in place, IF they give you luv. And the perks are good - the rewards are generally nothing special it's the perks if you can use them that give you the value. It's just is it enough value for what you are paying and only you know that.


I've debated whether the Platinum makes sense for me - I haven't travelled since last summer and the fee is coming up. Gold or PRG would make sense for me, but Platinum only does if I travel. I keep hearing I'm going to travel but it hasn't happened. I'm on the fence especially since I have other cards and I don't spend time in lounges even when I travel. Not sure on that. I may do it one more year and then re-evaluate next year.


CSP I'll be honest here - I got it only because it's a metal card. (And Chase is an odd duck when it comes to limits - they seem to be happy give you a new card with a lot more than they'd give you as a CLI on an existing card. Then you just combine limits).


Papa I'm sorry to hear about your Amex experience as I was sorry to read about your Citi experience.

popamode72
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Postby popamode72 » Mon Apr 13, 2015 10:58 am

CarefulBuilder14 wrote:When you're using language like that, I think it's a sign you have way too many inquiries, period. Inquiries should be a few times a year, not a few every month. I've only had one inquiry for 2015 (EX HP for CSP) and my FICOs have been improving.

My guess about not having the FR resume if you had an improved report was really just a guess and based on what your report might look like in two years. If you want to get an Amex again before that, I'd be ready to continue the FR.


My ex score is always constant and never changes much at all. My eq is much more inquiry sensitive from what I found and TU happens to my highest FICO which also doesn't seem to fluctuate much at all either. Ironically my ex score is higher now than it was a few months ago. I'd say this year up until March it was 1-2 inquiries a month but I don't wanna add more to it. Several of them fall off this year.

I think new accounts popping up matter more than the pulls themselves which don't factor into my score completely after a year. There are always other reasons for getting denied credit. I'm not looking to buy a house or spend time trying to get an auto loan any time soon so I have plenty of time to get those aged.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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