07-04-2013 11:00 AM
I believe the consensus is the the Amex charge cards, Green, Gold, and Platinum basically have the same underwriting requirements, just your choice of how much AF you want to spend in return for enhanced benefits.
When I log in to my Amex account it tells me I am pre-approved for the PRG, and when I clicked more, also for the Green. However, Gold/Plat are not marked as preapproved. Not sure that proves anything either way, as this could just be marketing pushing me towards the card they want to sell, but I would have expected an upsell to the most expensive card (unless, of course, they make more on the green and PRG).
07-04-2013 11:33 AM
Your credit profile is probably good for many other cards as well. Of course they are not going to list all the 20 cards that you qualify for. Which cards show up depends on their marketing strategy; perhaps, hypothetically, in your particular geographical region no one has a Green or a PRG, and Amex would like to diversify their presence there by suggesting these 2 particular cards.
07-04-2013 11:38 AM
07-04-2013 10:50 PM
It's all based on analytics. Basically there is a algorithm trying to match a card for your which you are likely to apply for (or in a sense, say "yes I can afford this annual fee"). They won't push a card with an annual fee you are likely not willing or unable to afford. Would a person who makes 30k a year spend $175 a year for a charge card? Most likely no, not only that, they technically can't afford $175 for an annual fee. A semi-real example used in Financial Engineering is to create a ratio, in this case 30,000:175. Essentially you can divide 175 into 30000 which will give you a number of about 171. Using historical data, typically internal data and data purchased from credit rating agencies and consulting firms, you can assess what 171 means...
07-05-2013 08:23 AM
Your credit profile is probably good for many other cards as well. Of course they are not going to list all the 20 cards that you qualify for.
Right, I'd imagine you'd easily qualify for any of their cards. If they listed all the cards you would actually be pre-approved for, I'd imagine there will be little room for anything else on that particular page.
So, there must be another "set" of criteria they're using, assuming it isn't just random, which it certainly appears to be sometimes.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.