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I received an email from American Express Pre-approved and I have a bankruptcy

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mikey4833
Valued Member

I received an email from American Express Pre-approved and I have a bankruptcy

Ok this is strange with everything I read about how amex hates bankruptcy yet I received an email with my name saying I'm pre-approved for the Delta Skymiles Gold Card No fee first year $95.00 a year there after offer. I have a bankruptcy chapter 7 from July 2009. I had 2 charge offs but I just paid them off and all my ficos jumped to what you see in my fico fitness challenge.  I called amex and the rep said she recommends I just go for it. She said its not one of their most difficult cards to get.. I have alot of inquiries on all 3 bureaus. I had amex back in 2008 a green card and and blue card with a $31,900 limit my fico scores waa around the same as the top score I have back then. They based the credit critertia from Transunion I believe because their is a promotional inquiry on there from them.. I'm in shock that I'm getting this offer. The rep said amex was aware I have their 2 prepaid accounts and  they have this program where some but not all cardholders are selected to be pre-approved or invited to apply for a card. I am not invited, I'm pre-approved. It can only be done through the special email promotion. The rep couldn't take it over the phone.

 

Should I apply and get 3 inquiries it really don't matter I have 23on TU 30 on EXP and 48 on equifax.. 

 

My avereage age accounts by fico is 5-6 years but after bk its 1.3 years. I have been wanting amex for the longest time. Discover won't approve me. Citi is reconsidering my app for the Citi Simplicity card and another hard pull on experian.... My oldest account since bk is 09/2010 not even 3 years of credit but fico counts clear back to 2001.


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


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Message 1 of 9
8 REPLIES 8
improvingmycredit
Valued Contributor

Re: I received an email from American Express Pre-approved and I have a bankruptcy

Hey mikey4833!
I'm not being rude-Smiley Happy. But with as many inqs as you have- what's the reason for not going for it. I think you should know that pre-approvals typically= nothing but I have found also that pre-approvals = easier approval criteria for what ever reason. I say to for it. With as many inqs as you have- really, 1 more won't matter. Smiley Happy. Best if luck!

Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 2 of 9
09Lexie
Moderator Emerita

Re: I received an email from American Express Pre-approved and I have a bankruptcy

Amex pre- approvals are usually a done deal. I had not heard of many who were pre-approved based on their prepaid. You have prior history and they have sp'd your cr...that being said that's an awful lot of inq's and your bk is new.

If you pull the trigger...keep us posted
Message 3 of 9
mikey4833
Valued Member

Re: I received an email from American Express Pre-approved and I have a bankruptcy

I applied and got a no decision Smiley Sad decision pending no instant decline. So is that good news? I checked to see if they were updating their systems or something by my wife who don't care about her credit applied and was declined right on the spot....  I didn't get declined yet.. I'll keep at eye on the site if they approve me I will have a reaction like winning the lottery because I want the card so bad.


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


Take the myFICO Fitness Challenge
Message 4 of 9
improvingmycredit
Valued Contributor

Re: I received an email from American Express Pre-approved and I have a bankruptcy

Best of Luck!!! Here's a link to check the status!! I hope you get it!!

https://www262.americanexpress.com/eaol/welcome.do


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 5 of 9
mikey4833
Valued Member

Re: I received an email from American Express Pre-approved and I have a bankruptcy

I checked the link it says I have 2 apps for same card one canceled and the other declined.... No fico score just a reason: bankruptcy.........Smiley Sad 3 inquiries for nothing.... a 718 Fico won't even do it as long as that BK is on there they decline you.  I'm closing my prepaid amex cards I want nothing to do with Amex again I'm so tired of them sending me pre-approved offers and declining me. The only reason I get the offers is because my fico scores are higher. But they apparently don't look at credit report to see bk on there...


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


Take the myFICO Fitness Challenge
Message 6 of 9
enharu
Super Contributor

Re: I received an email from American Express Pre-approved and I have a bankruptcy

How many apps did you do?

Pre approval is by no means an accurate indicator for anyone to determine if they will be approved, bk or no bk.

Well at least you tried and it was worth a shot. Just wait till your bk falls off and things will be a lot better.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 7 of 9
mikey4833
Valued Member

Re: I received an email from American Express Pre-approved and I have a bankruptcy

I called Amex reconsideration line and they went over my credit. They said give it 3 more years.. 7 years the new accounts dept told me is when amex doesn't count bk against you anymore. To be sure I doubled checked I called the Amex Executive office. She said their policies are always changing. She said try back in a year but don't try more than once a year but she said they do approve people with bankruptcy. She went back and looked to see if I had any bad history with them which of course I didn't. I told her my Fico scores are nearly the same as they were back in 2008 when I had my 3 amex card, a $31,900 Blue ,and 2 charge cards of theirs one green and one gold business. I closed all prior to bk because I transfered the debt to chase they wanted the business. I bottomed out and took the worst card ever just now the Applied Bank Visa Business Card... I'm going to start a new thread on that card about people's experience with it I need another business card bottom line. I only have 1. I have nothing to borrow against, no IRA no 401k, nothing. I'm living on $15-$44k a year it all depends on my business and job hours. 


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


Take the myFICO Fitness Challenge
Message 8 of 9
kimmiller112
Frequent Contributor

Re: I received an email from American Express Pre-approved and I have a bankruptcy

You have way too many inquiries and your bankruptcy is too new.  Amex told me that 8 years post-bankruptcy is when they will consider it.  You seriously need to garden and not app for anything for at least a year.  Then plan your apps accordingly with a lot of thought and not just randomly and frequently.  Remember that pre-approvals something mean nothing.

Barclays USAir World MC $8300 - DCU $7500 - USAA World MC $7000 - PayPal Extras MC (GE) $5500 - Chase Saphire Preferred $5000 - Discover It $6000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
Message 9 of 9
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