American Express pre approval

[Anonymous]

If you got a pre approval for an American Express but were going to try to get a mortgage in 1-2 months would you risk your score dropping to get it?
I'm not sure if I get the AMEX if it will drop my score but I don't want to miss my opportunity to get it. I know I shouldn't but it's hard to say no.

[AverageJoesCredit]

I would think trying to get a cc within 1 or 2 months of applying for a mortgage would be a no no. After you close sure. The card will still be there when you finish your mortgage, which i assume is more important.

[Anonymous]

That's what I'm thinking too. I've been rebuilding for about 18 months and an Amex being my goal card. I checked for preapproval today because I would assume it would say no like it always does but it didn't and I think that's why I'm having such a hard time just putting it out of my mind.

[Scupra]

Do yourself a favor and don't app for anything that close to closing on a home.

[SecretAzure]

Wait until after closing! Don't do anything that might run your credit. Don't try and set up utilities in advance, don't switch cell phone providers, don't apply for credit, don't finance any large purchases (even furniture)....until AFTER!

[Anonymous]

NO ... don't do it ...  Especially if the scores in your signature are up to date. 

I mean this with all sincerity, every point helps during the mortgage process and can mean a significant difference in your interest rate. 

If you can get in with Amex now, getting in with them later will be even better and likely will result in a higher SL

[longtimelurker]

---

@Anonymous wrote:

NO ... don't do it ...  Especially if the scores in your signature are up to date. 

I mean this with all sincerity, every point helps during the mortgage process and can mean a significant difference in your interest rate. 

If you can get in with Amex now, getting in with them later will be even better and likely will result in a higher SL

---

Agree, you don't have a whole lot of room for a drop.    Generally, it's only OK to apply just before a mortgage if 

a) your score is well above a rate boundary (and not to close to a better one that you might be able to get)

b) and the offer is amazingly good

c) and the offer will expire before the mortage closes.

(Even then, many here wouldn't!)

But these don't apply in your case, even if you are mailed an offer saying it expires before XXX, the chances are you will be able to get the card another time.

And while I realize that Amex is your goal card, the rewards you get from it are often not all that great, and you might start with a low CL that is harder to raise.   Since a higher mortgage rate can easily cost $1000s, resist temptation!

[Anonymous]

Putting your scores aside, apping a few months before a mortgage is simply not a good look upon manual review.  And, every mortgage is going to be a manual review.  No need to position yourself in worse light.  As others have suggested above, if you really want that card simply app for it after you close on your home.

[Anonymous]

No apps, no cli, no bt no large purchases just everyday stuff til after it closes and you have the deed and keys. Many lenders run a final credit pull the day of closing or the night before. Any apps, cli, balance changes can result in last minute denial. I have seen loans cancelled  because of last minute Home Depot or Lowe's app done the day  of closing. Nothing that results in anything needs to be done. Think of this way do want the house OR the Amex card now but not both.     

[jdxprs1]

I got my 2 Amex cards a week before I applied for refinancing my house. They just made me write a note stating what it was, my limit, and my balance.