Pre-selected American Express Green and Gold

improvedcredit · ‎03-30-2012

Hello everyone

I have recently been receiving pre-selected offers for American Express green and gold. I have a deadline of mid April to respond. I was wondering if I should pull the trigger on any of these before receiving a hard pull on my credit report. As for my score.... I am at a 614 on my TransUnion and a 644 on my Equifax (pulled on MyFico.com) two weeks ago. So what I would like to know if a pre-selected offer from American Express mean a definite approval or a possible denial with these scores.

Please if anyone has been put in this position for applying for one of these great cards, please let me know what the end results were for your application process.

Thank you in advance...

pizzadude · ‎03-30-2012

A pre~approval with AMEX or any other creditor is not a guarantee of approval. It really depends on the negatives that are showing on your credit report, and also what your revolving accounts look like now ~ how long have they been open, what are their limits.....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

LS2982 · ‎03-30-2012

@improvedcredit wrote:
Hello everyone

I have recently been receiving pre-selected offers for American Express green and gold. I have a deadline of mid April to respond. I was wondering if I should pull the trigger on any of these before receiving a hard pull on my credit report. As for my score.... I am at a 614 on my TransUnion and a 644 on my Equifax (pulled on MyFico.com) two weeks ago. So what I would like to know if a pre-selected offer from American Express mean a definite approval or a possible denial with these scores.

Please if anyone has been put in this position for applying for one of these great cards, please let me know what the end results were for your application process.

Thank you in advance...

What does your EX file look like??

If you have a clean file with no recent derogs and score above 670 I would say your good. Anything less might be a decline.

EQ FICO 548 3/3/16

MrShush · ‎03-30-2012

Go for it. They are sending you marketing for a reason--they probably want your business. Oblige!

gpeach · ‎03-30-2012

Don't waste an inquiry just yet. Do more research first. Your score seems quite low for them. But I could be wrong. Pre-selected is not pre-approval. Not even pre-approval means you will get it. My husband had a USAA pre-approval in his offers. Well they turned him down.

improvedcredit · ‎03-30-2012

My Experian credit score as of a few weeks ago is 631 (pulled on the Experian website). So far as my revolving balances, I am below 30% utilization. I filed for new credit 5 months ago. I dont have any collections accounts, I have 3 charge offs from 5 years ago. Also to mention that a few months ago, I opened up a credit union account and they pulled my credit from TransUnion which shows that I score over 720 (they use the newest version of TransUnion scoring).

LS2982 · ‎03-31-2012

@gpeach wrote:
Don't waste an inquiry just yet. Do more research first. Your score seems quite low for them. But I could be wrong. Pre-selected is not pre-approval. Not even pre-approval means you will get it. My husband had a USAA pre-approval in his offers. Well they turned him down.

+1

EQ FICO 548 3/3/16

LS2982 · ‎03-31-2012

@improvedcredit wrote:
My Experian credit score as of a few weeks ago is 631 (pulled on the Experian website). So far as my revolving balances, I am below 30% utilization. I filed for new credit 5 months ago. I dont have any collections accounts, I have 3 charge offs from 5 years ago. Also to mention that a few months ago, I opened up a credit union account and they pulled my credit from TransUnion which shows that I score over 720 (they use the newest version of TransUnion scoring).

That 631 is a FAKO score, so your FICO may be higher. IMO I would hold off and work and getting the collections removed first.

EQ FICO 548 3/3/16

pizzadude · ‎03-31-2012

@improvedcredit wrote:
My Experian credit score as of a few weeks ago is 631 (pulled on the Experian website). So far as my revolving balances, I am below 30% utilization. I filed for new credit 5 months ago. I dont have any collections accounts, I have 3 charge offs from 5 years ago. Also to mention that a few months ago, I opened up a credit union account and they pulled my credit from TransUnion which shows that I score over 720 (they use the newest version of TransUnion scoring).

Can you clarify this ? Did you apply for new credit and were denied ? What are your current open CCs and their CLs, also have any of them been open longer than 5 months ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

improvedcredit · ‎04-02-2012

I have been approved for 2 credit cards, one limit is 400, which went up 500 after I kept paying the balance off every month. The second card is 650 limit and I pay that balance off every month. I am also a authorize user for a bank of america card that has a limit of 2500 and I pay that balance off every two months. All cards have been in a 5 month period.