Amex line of credit tidbit!

Discussion in 'Credit Talk' started by Cyprigirl, Oct 5, 2001.

  1. Cyprigirl

    Cyprigirl Well-Known Member

    Hello everyone,

    I have been trying to do some catch up reading on the board and I noticed that I missed out on the AMEX loc bandwagon.

    Well I tried for it yesterday and was denied by the computer with a 728 EX score, (Big boost in the last couple days, I guess my accounts are aging now.) Then I called the credit department and requested reconsideration because it did not make sense why I was denied for the Loc.

    Well I found out this morning that they pulled a hard inquiry and soft inquiry and my score took a 3 point hit from this transaction. Which is not too bad, I think I will be approved, because I noticed when I they pull an inquiry and I am denied, my score takes a bigger hit than when I am approved.
    For example, I applied for Nordstroms and was approved and I only lost 2 points and when I applied to MBNA and was denied I lost 11 points, this is with Ex though I don't know about the others.

    Anyway they are still working on my application, so I have not been denied. So we will see if my theory provess true.

    So a little tip, if you apply over the net and you meet the prelim. standards according to the computer, then its a soft inquiry, if they denied you and then reconsider its a hard inquiry, I will dispute it because they failed to tell me at the time that they would pull another report on the same day for reconsideration. Or else I would I have just left it alone.

    Anyway its a FYI!

  2. Saar

    Saar Banned

    Cypri, the bureaus haven't the foggiest if you were approved or not. The first time they can "learn" about your approval is weeks or months later, if/when a new tradeline with that creditor is reported.

    The differences in score effects for any specific inquiry can only be explained by statistical analysis, thus, the score effect of the first inquiry (in a 6-month period) is not identical to the second, third or fourth inquiry.

    Good luck w/ your application! :)

  3. Cyprigirl

    Cyprigirl Well-Known Member

    That makes sense, Saar!

    I will see how it goes, AMEX is really strange from what I am reading about its approval process for the LOC.

    By the way Congrats to all those who managed to break thru,, well done!!!!

    I am really curious as to what they will do with my score and most of my credit card debt paid off.



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