Too soon between Apps?

Discussion in 'General Discussion | Credit Cards' started by mo26, Jan 22, 2013.  |  Print Topic

  1. mo26

    mo26 Silver Member

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    Well i applied for 4 cards in November, with a 5th addition in December. Of course the 75k AMEX offer and BA visa offer arrived 2 months too early for me!!!

    Anyone have thoughts on the risk vs reward for applying this week for both?

    If i do it, do i start a new 4 month clock based on tgese successes or failures?

    I had hoped to work those 2 in this year along with the 2xAA, and a few others as the perks warranted.

    FYI, i think my scores are in the 730's, down 20pts from my last AOR.

    Thanks,

    MO
     
  2. Million Mile Secrets

    Million Mile Secrets Silver Member

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    Which cards did you apply for in November and December?
     
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  3. mo26

    mo26 Silver Member

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    You are just the man i needed to read this!!!

    I picked up the Citi Hilton Reserve, Chase PC, Barclay's US Air, BOA Hawaiin....

    December was the Ink Bold

    Oh and i used your links ;)


    FYI, my plan for the year is:

    CITI: AAx2, and AA Biz

    BOA: AS (twice if it churns) & Biz

    AMEX: Gold & Plat (assuming 75-100k offers)

    CHASE: BA & UA EXP

    I've edited this post 4 times now, but i hope I gave you enough info!
     
  4. deant
    Original Member

    deant Milepoint Guide

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    When in November did you apply?
     
  5. merice107

    merice107 Silver Member

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    I was going to create a thread with basically the same question for my situation that was very similar. So without stealing any thunder from mo26, I was wondering what people thought:

    Nov. 30th: Ink bold, Amex Hilton (65k), and Chase United.

    During the 100K Platinum period I asked the same question because the Amex HH worried me that it was too soon (I have an SPG app from Sept. 1 also). Some people said I might try it but it could possibly spark a financial review. Would this be similar situation even though it is a business card?

    Also, by having this card, would it negate me getting the Platinum personal card further on down the road if another sweet offer comes around?
     
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  6. mo26

    mo26 Silver Member

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    11/20
     
  7. Million Mile Secrets

    Million Mile Secrets Silver Member

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    Thanks for using our links!

    Since you didn't apply for an AMEX card the last time, you may be fine with the AMEX Biz Gold. That said, the offer will likely come back since it has been around 4 to 5 times last year and I suspect AMEX is testing different variations of the offer (length of time, minimum spending, etc.)

    I've got 3 Chase cards in 3 months before, but I don't think that is the norm. But you may be able to get the BA offer by calling the reconsideration line and either moving credit or cancelling a card. But, as always, your miles may vary.

    Only you can assess the risk vs. reward for yourself. I tend to believe that offers come and go, and it isn't worth stressing about missing one. I say this as someone who posted about the AMEX 100K offer on his blog and then went to sleep and found the offer gone when he wanted to apply for it. Oh well!

    The risk is getting a credit inquiry and not getting the card and sign up bonus. The reward is getting the sign up bonus. Only you can tell for yourself if it is worth the credit inquiry or not.

    The Chase BA card has a high spending for the 2nd 50K points and so does the AMEX Gold, so I wouldn't apply for more cards unless you were sure of being able to meet the spending. If you're not going to go after the 2nd 50K points on the Chase BA card, I don't think it matter if you apply for it now or later on.
     
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  8. Million Mile Secrets

    Million Mile Secrets Silver Member

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    So did you apply for the 100K offer or not? I don't know your personal information, but if your last card was in November, you may be able to get approved for the Biz Gold card. The biz gold card seems to get folks a lot of Financial Reviews (me included). The best I can figure it out, they are wary of Amazon Payments and sudden ramp up in spending on the Gold card. But ymmv. But I don't think you will get a Financial Review just for applying for the card, though they sometimes ask for a tax transcript.

    Since this is a business card, it shouldn't prevent you from getting the bonus on a personal gold or platinum card, but it may prevent you from getting the bonus on a business platinum card.
     
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  9. merice107

    merice107 Silver Member

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    No I didn't get the 100k offer :(. When I went back to do it later that afternoon the link was down. I get sick to the stomach thinking of it... I told my wife I feel like I was dumped.

    I have had 8 apps in the past year (all since June). The FR basically terrifies me! :eek: I have not lied on my previous Amex applications, but I do private music lessons for cash and check, which is a lot of random $100 here, $200 here sorts of deposits. I basically just use that money as an added bonus in my account and do not budget it (some weeks I have a lot of lessons. Some weeks I don't). As I read more into Amex FR, I realized I should probably use the exact number listed on my tax returns just to be safe. But now I worry that by using different numbers, that will cause negative attention to me. Or cause me to fail a financial review.

    edit: I do have the proper schedule c paper work from my 2011 taxes to show my business income.

    Should I call my two amex cards and update my personal information by giving my EXACT total income from my tax return? My wife and I filed jointly. Do I give that number?
     
  10. Million Mile Secrets

    Million Mile Secrets Silver Member

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    If they do ask for your tax transcript, I suspect you should be fine as long as you have a schedule C with your business income on it. Good luck!
     
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