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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.
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