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Quasei2

AMEX

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I'm curious if they're being twitchy about inquiries. I have a hard inq from Sept 29 w/ MBNA (declined) and then a hard inq at the end of October w/ CIBC (approved). So that's 2 inquiries in a fairly short span. I'd like to app for their Costco card because quite frankly paying by debit is a PITA and I'd prefer to make my money work for me in the form of cashback, etc rather than risking debit fraud nonsense by using the debit card.

 

I really don't want a decline based on too many recent inquiries though. My report is clean (I really need to post my story!) and although I don't know my current scores I believe they are likely around the 720ish range based on changes that have occurred w/ the scores of others, etc. This is up from 648 in May! And probably from the 500's or so this time last year although I don't have an actual score then, just a guesstimate based on the insane amount of crap that was on my report.

 

I don't have a ton of outstanding available credit nor do I have a ton of debt. My TDSR could handle additional credit and I'm only looking for a limit in the $500 range so I really would hate to be declined for something as ridiculous as 2 hards when otherwise my report is clean. I could wait until spring to do it, but well convenience makes me want to do it now. Plus I'm probably going to be into Costco this weekend so I was considering app'ing right in the store.

 

Alrighty this is rambly now so I'll stop. Does anyone know if AMEX is being twitchy about inquiries?

 

Thanks!

Q

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I swear I replied to this earlier, so unless the mod team has a serious backlog of posts to approve then I must be mistaken.

 

I just applied for and was approved (well...I'm 99% sure I'm approved) for an Amex with 3 recent inquiries on my Transunion credit report. All are within the last 6 months or so. And Amex made inquiry #4 a day after I applied.

 

Keep in mind my score is a little below the 800 mark, so perhaps that had a lot to do with it. I don't know.

 

Just my experience, so take it for what it's worth. Good luck.

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Haha! I do the same thing. I think I've written an email or whatnot to someone, but it turns out I'd only planned it in my head. LOL

 

The night after writing this post I actually went ahead and pulled the trigger on AMEX. No word yet and I don't expect to hear until either later this week or early next week. Fingers crossed!

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Well, I'm still awaiting my actual Amex card in the mail. It's been about 9 business days since I applied online, and 5 business days since I talked to some guy at Amex who wanted to verify some info with me.

 

To bring up to speed - I got an email from them a week ago Friday, the 20th, and called that same day. This is the guy who just wanted to verify my name, address, and phone number. He said there was one more step in the review process by "it looked good". The email I got was from "New Accounts" so I'm assuming I am just that - a new account.

 

I guess I'm just getting impatient. Like I said a few times before, once I see an Amex card in my hands with my name on it, I'll have won a huge moral victory. In my mind I will have finally overcome those dark depressing days of the first half of this decade. And then I can put it all behind me and move on.

 

(Why Amex? Well, without getting into deep detail, Amex along with a team of high and mighty self-righteous mortgage company lawyers really raked me over the coals. They all bent me over and gave it to me good when I was practically forced to cash out and take the equity in my home. Amex jumped in just because they walked by the room, seen what the lawyers were doing to me, and seen an easy score. I still cringe when I see one of those inflatable hemmoroid donut-rings because my flowers was sore for years from the anal rape they put me thru. The mortgage company lawyers, okay, I can understand them doing it because lawyers are flowers-raping scum sucking dirtbags that will gladly, and with great joy and elation, kick a man when he's down. But Amex had absolutely no reason to pile on and forget the lube. They did it simply because they could and wanted to further humiliate a man when he was already down.)

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Sorry Quasei2, I hope you're not offended that I hijacked your thread. I just thought I'd add some closure to my own personal Amex application. I hope you don't mind. Let me know and I'll gladly edit this out.

 

I got my Amex card in the mail today. $1500 limit. ahahahahahahaha.

 

But in all seriousness I don't care about that. Unlike what I see in the often disheartening "Credit" forum from our American friends, I look at credit as a privilege, not a right. So I don't get upset when I don't get a $25,000 credit limit.

 

When I called to activate the card I told the guy I got a laugh out of the credit limit. I honestly don't know why I even mentioned it, because I truly don't care about it. The guy said it does seem kind of low, and apologized if I felt insulted (I don't), but he said in 6 months go online and request a credit limit increase. "Unless you screw up badly then it's practically a sure thing" is what he said. He said I'll be very pleased with what Amex can offer me in 6 months time.

 

Really funny thing though. He KNEW I was a cardholder back in the 1990's and had my account closed after being anally raped by Amex. We were having a fun conversation until he brought that up. I thought to myself that I better watch what I say here, it's seemed kind of odd for him to bring that up. So we finished up the activation process, he explained some more stuff, and the call was done.

 

So this is a huge victory for me. I really cannot say in words how good this makes me feel. It feels soooooo good to have an Amex in my wallet again (so long CapOne MC, welcome to my nightstand, no room for you in my wallet now!). I finally feel like I've come full circle.

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Oh it's definitely no problem at all! I think you might agree that topics posted are meant as a discussion for all. I certainly didn't take any posting to this post as any form of hijacking whatsoever.

 

I have good news from AMEX!!! They called this morning and I just let it go to voicemail since I didn't recognize the number. I just called back right now and did the additional verification with them and she told me the card had been approved. 7-10 days for the card to arrive. HOORAY!!!

 

ETA: This will be my last pull until Feb or March when I plan on applying for an RBC card. Ideally I'd like to have their upcoming Westjet Mastercard, but for now I'll probably settle for one of the Avion cards. I'll be doing that application in the branch though because if approved for RBC I'll be reducing my CIBC limit to something in the neighbourhood of $500ish.

Edited by Quasei2

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Pretty much the standard "TrueCredit" Survey - of the following 3 addresses where did you live in 1999. Of the following employers where have you worked, etc. 5 or 6 of those questions in addition to confirming the name of my employer and the spelling of my name which I thought was odd, but in hindsight is probably to ensure it's spelled properly on the acct/card.

 

Do you regularly use your Costco membership? I've read rumblings on a couple other boards that regular usage of your membership can be the tipping point between approval and not if you're right on that line. I LOVE that the membership auto-bills to the acct. It's extremely convenient that I won't have to go back into the Customer Service desk (gawd they're slow!) to renew since the acct is jnt with my ex and we no longer live together however we're still good friends and hope to continue sharing this acct for convenience reasons - it doesn't make sense for us individually to have an acct, but combined we use it enough to make the fee worth sharing. Between the 2 of us we're into Costco 2-3 times each month among our own visits and our folks visiting from out of town (neither pair lives where there is a Costco!).

 

The only thing I found strange about their original application is that although it asked me about my income there were no questions to ask about my living expenses! I thought AMEX was stingy and to me this would seem like an easy way to weed people out without even having to do the credit bureau hit.

 

Also, the hard on my TU didn't happen until 4 business days after I submitted the app. I only happen to know this because I was curious where my scores were sitting since I hadn't actually pulled the scores via online since May.

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Yeah, I'm done with applying for a while now too. Unless something comes up that is irresistable I'm done until at least this time next year, hopefully more. Maybe in June I'll use the link on the Amex website to increase the credit limit, but that'll be it. I'll keep all my cards paid in full each month and just let things age gracefully.

 

RE: the call from Amex. I applied for the Amex AirMiles card thru the Airmiles website. I'm an Airmiles junkie so the bonus miles pushed me over the edge to apply. A couple days later after I did the online app I got an email asking me to call them.

 

Yeah, you're right Quasei2. They verified some older addresses, which might explain how they tracked down my old account. Also they wanted to know how exactly I wanted my name printed on the card, and how much my mortgage payment was. They wanted to verify that since I am self-employed which phone number I used for business (my cell phone). I was expecting him to ask me to fax him my Notice of Assessment from last years income tax return. Being self-employed for quite a few years now the NOA is the only document I have that really verifies my income. But he never asked for a copy. (I'm too cheap to pay an accountant to give me actual audited copies of my financial statement.)

 

And the guy never did directly tell me I was approved. He just said there is one more stage of review but it "looks good".

 

It was 6 business days from that phone call until I had the card in my hands. And I'm in the 401 corridor, so it's not like it had far to travel to get to my mailbox.

Edited by Stu.Padaso

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Thanks for the heads up about the 6 biz day turn around time especially in GTA! Most credit cards in Canada are made by G&D in Scarborough so 6 biz days is a tad ridiculous. LOL I'm east coast so I'll know to expect closer to the 10 days.

 

Does it not seem odd that they didn't ask for proof of income, etc? And that they don't request any info about living costs? This is about the only FI I can find that doesn't ask that sort of info on an app!

 

My card is the Costco card. I love the AirMiles points since I love the free movies, but the convenience of the Costco card outweighed that. I wonder if they'd split my card into 2 and I could take just a tiny limit on one for the AirMiles to use at places like Lawtons and Sobeys for essentially the double airmiles. I guess I better wait and see what sort of limit they've given me before I make plans like this though! haha! Any idea if they'll split cards up like this though?

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RE: Airmiles. I remember when I was alone and living off the seat of my pants, it was Airmiles that bought my Christmas dinner every year for those long dreary years. It used to be something like 100 miles got a person a $20 (maybe $25??) gift certificate at A&P. It would take me a year, but I'd generally have 3 or 4 hundred miles saved up by the time December rolled around. So I'd get the gift certs. and buy my turkey and everything else I needed so I could at least have a decent Christmas dinner.

 

I did that for at least 4 Xmas's in a row, maybe more.

 

RE: Costco. Yeah, I considered the Costco card too. I was just there a day or two before I applied for my Amex. My closest store is about 45 minutes away, and we really only go there 3, maybe 4, times a year. Every year when our membership fee comes up for renewal we always consider just dropping it and piggy-backing off of my sister-in-law (she told us she wouldn't mind). But in the end we know it would be a bit of a hassle to depend on someone else. We wouldn't be able to just jump out of bed and say "let's go to Costco today!"

 

It's a great store and there are some great deals to be had, but in my estimation my girlfriend and I need to go more often to justify the cost of membership and the drive.

 

RE: Amex splitting cards/rewards. I really don't know. A place like CapOne would probably do something like that for you, but Amex? Well, I'd be surprised. But you never know unless you ask! :lol:

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Which AirMiles card did you get? The $50 fee with the ramped up rewards calculations or the no fee? I'm trying to decide for myself which I'd prefer if AMEX is actually willing to split the credit currently allocated to the Costco card and give me a separate AirMiles card.

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Which AirMiles card did you get? The $50 fee with the ramped up rewards calculations or the no fee? I'm trying to decide for myself which I'd prefer if AMEX is actually willing to split the credit currently allocated to the Costco card and give me a separate AirMiles card.

I applied for the Platinum for the 400 bonus Airmiles and the 1 mile for every $15 spent.

 

In hindsight, it probably wasn't one of my wisest decisions I ever made because 1) I never planned on using it that much, and 2) the credit limit they gave me ensures I won't be it using that much.

 

But who knows what the future will hold for Amex and myself. Next year at this time I'll re-evaluate how I'm using the card and if necessary I'll see if Amex will downgrade the card to the no-annual fee.

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I'm actually kind of glad you took that one. :dance: If they'll let me do it I'll grab the no fee one and we'll swap notes. I plan on only using the card at Sobeys & Lawtons, ie sponsor stores so that I can take advantage of getting points via the AMEX as well as via my blue card so perhaps about $500 monthly amongst groceries, pharmacy & bus pass purchases.

 

Strangely I'm finding myself getting super anxious about that package not arriving yet. I KNOW that it won't arrive until sometime early to mid next week, but I have this dark cloud feeling that instead of the approval package with the card I'm going to get a sorry PFO letter which I know is totally ridiculous. They have no reason to decline me!

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My card finally arrived today with a $3000 limit. I'm going to call in the morning to activate it and I'll ask then about splitting it into 2. If they'll let me do that I'm going to put $500 on a regular AirMiles card and ask them to drop this limit to $1500. I'm only going to use this card for Costco and if I'm spending $3K+ at Costco I think I probably have other things to start worrying about. LOL Once I have the RBC card I'll probably drop this limit to $750ish.

 

Strange isn't it to activate and request a limit decrease? LOL I'm grateful for the limit they gave me, but meh I don't need all of it so I'll reduce it. Definitely a big difference in Canada with that sort of attitude to receiving credits. I'm glad you also mentioned that you were feeling similarly about asking for limit increases, Stu, because I was worried that perhaps I was a bit of a fuddy duddy. LOL

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Welp, I'm jealous. They gave you twice the credit limit that they gave me! Now I AM insulted! ahahahaha.

 

Seriously...congratulations Quasei. I'm sincerely happy for you.

 

Aren't the AMEX cards pretty? I always like the looks of the Amex cards, no matter what colour or style it is. They always look nice. I recall my old Amex green charge card from years ago. I always caught myself looking at it, like I was some sort of OCD freak. My Amex Platinum AirMiles looks really sharp. More like silver than platinum if you ask me, but oh so shiny! I wish, however, that they had found a spot for that Roman dude. ahahahaha

 

RE: taking a credit limit reduction. Why would you do that? I know you're responsible, but I'd just take the $3k if I were you. You never know when you might need it. Plus, it'll help your FICO score out...won't it?

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Hehe! Honestly don't be insulted, Stu, because my CIBC card wasn't reporting when I did that app so they have no idea it exists much less what I have on that card.

 

I agree that they're pretty! I'm not normally a sparkly sort of girl, but I find myself flipping it like a hologram with the sparkles. LOL And oooh the mag strip is absolutely mesmerizing. hehehe!

 

I haven't done the decrease yet. The girl who activated my card was so useless, unpleasant, and unhelpful that I almost canceled the card during the call! She activated and actually said good bye and I was like um I have a couple questions. I asked if it's possible to split the card and she was um yeah I don't know and why don't you just apply for another card and goodbye. Um!!! LOL So I'll call back another day and hopefully I'll get someone more helpful to actually answer my questions.

 

The reason I'm going to do the decrease is I actually want a decent limit on the RBC Westjet card so I don't want to have too much available and open credit. My CIBC card, in fact, will drop to $500 as well once the Westjet card is in place.

 

And the only way the extra credit would help out my score is if I intended to use it regularly which I don't and. It's only for Costco purchases so likely there won't be much of a balance to report because those will probably be PIF before the statement cuts so that I can toss the card back in the drawer and forget about it again.

 

I figure why have more credit than I'll use. Afterall, using credit isn't about needing to use credit, right? It's about using it as a tool toward bigger and brighter things. So as long as I use what I have then eventually I'll be able to snag the things I want. :)

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