Apply for American Express again in a month?

Today I applied for an Delta American Express card. I have an over 700 fico, with no late payments ever. My balance is currently about 30K, with 20k on one card. For this one card, I posted an online payment of $11k on the due date, which is a week away from today. I forgot that this payment had not yet gone though. So, unfortunately my application was declined, I was looking for a better APR.

I have heard before that a credit inquiry from the same type or company within a certain limited period will not count again. Is that true?

I want to apply again in a month for the Delta American Express card, after the $11K payment is applied to my account and credit report. They have a good offer and APR. Is this a good idea? Will it count as one hit or two?

The inquiry buffer you talk about refers to mortgage and auto loan inquiries. There is no such protection for credit card inquiries. So each inquiry will affect your scores though the specific amount depends on your entire credit profile.

I'm not clear about one aspect of your question. Are you already an American Express Cardmember, just trying to get a different card? (Is that what the 11K payment refers to?) If so, I would call Amex and discuss the situation and see what it would take to change card card programs.

If not, then you'll want to look carefully at the reasons you were rejected for the card. If you think you can overcome those objections, try calling Amex, explain that you were rejected and see if you can get them to override the decision. They may pull your credit again, and that may create another inquiry though.

Let me know what happens!