I wrote earlier how it took 3 months, an IRS tax return, and lots of phone calls and letters to get approved for the American Express SPG card.
Well, my statement closed on the 16th and I didn’t get any bonus points (I was promised 30,000 points after spending $4,500 within 3 months). I sent American Express a secure message and they replied back saying that it takes 8 to 12 weeks to get the bonus points and that I should wait for another month.
So I called the customer service who also told me that I had to wait for 1 month before they could do anything. Of course, I called back a few times, but I got the same response. Usually the bonus miles post to your account when the statement in which you’ve completed the minimum spending closes.
The Man of a Thousand Places has a similar issue with AMEX and they told him to wait for 4 weeks as well. Now if only it were easier for me to be patient!
I also discovered that AMEX requested my score from Experion, not once, but 3 times! Once when I applied for the card in July, and again in August and October. I’m upset with the additional pulls since I now have 12 credit inquiries in the last 2 years on my Experion report.
As I explained in an earlier post on how to find out which credit bureau may be used when applying for a credit card:
In my experience, once you cross a certain number of hard (consumer initiated) credit inquiries over a 2 year period, your chance of getting approved for credit cards and other loans reduces greatly. I estimate this to be between 12 to 16 inquires per credit bureau, and remember that there are 3 main credit bureaus in the US: TransUnion, Equifax, and Experian.
If you are continuously applying for credit, there is a very good chance that you are financially stressed, and less likely to pay back your debt. Banks don’t like that.
I suspect that banks have developed an algorithm which flags an applicant as risky if he or she has more than a certain number of credit inquiries over a 2 year period.
I’m going to write to Experian and ask them to remove the additional pulls from August and October since I did not authorize American Express to pull my credit score again (and again!).
I’m curious if any readers have requested a credit bureau to remove unauthorized credit inquiries from their credit report?