Amex APR language

[Anonymous]

As many people here could tell you, a fixed number (or very narrow range) APR is generally a good indicator of a "real" pre-qualification. I happened to be using a computer instead of my phone to check my BCE statement and Amex has a little "now with 60k bonus miles" banner for the delta gold card. I had considered the card at one point & clicked on the details out of curiosity over what the perks were again.

That's when I noticed the language in the APR & annual fee section. Instead of the usual "variable X-Y% APR" the terms are more specific - "APR on purchases will be a variable rate, currently 16.74%". This reads more like what I would expect to see if I had done a "see if I'm pre-qualified" submission - checking details on other cards all yielded "variable APR on purchases from 16-23%".

I'm curious if this is just the result of different card terms (like variable prime + X% vs variable X-Y% based on credi worthiness) or if it's because they've prequaled me via SP since I'm an existing cardholder? The Delta gold has shown on my "personal harge & credit card offers" & check for prequaled cards link along with the BCE & platinum since before I joined Amex in August - but those have never changed. I don't have a need for the card at the moment regardless but I'm interested to know if this is another useful confidence indicator to look for with Amex in the future or just the result of different card terms.

[MrDisco99]

A single APR number is an indication of very good approval chances with Amex, along with many other issuers.

[K-in-Boston]

Sounds like a real prequalification to me. If you hit the Apply button chances are good that it’s going say “You’re prequalified” right at the top of the application. 

[Anonymous]

Interesting-I guess it makes sense since I'm already logged in to Amex when browsing cards, I'm just used to having to take a few steps to check prequal instead of seeing a likely candidate APR instead of standard variable boilerplate.

I would probably do it for the bonus of nothing else since we fly delta almost exclusively, but I've got disco first 91 day CLI coming up soon along nfcu being due 1st week of January and I want to recover a bit from the hit I took adding 5 cards +1au in August. End goal being to app Ritz to fold into my 5k CSP - > pc to CSR as I didn't account for AU in bring 5/24 I'll likely pass on itfor the time being. Still very handy to have another easy indicator without having to submit info or check an Amex revolver details.