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Pre-selected American Express Green and Gold

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Walt_K
Senior Contributor

Re: Pre-selected American Express Green and Gold


@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...


These deadlines are meaningless.  They are there to entice you to respond.  There is no evidence that I am aware of that any creditor relaxes their approval standards for preapprovals.  If they'll approve you now, they'll approve you after the offer expires.  You should concentrate on positioning yourself as best as possible for an approval and not worry about whether that can be done prior to offer expiration.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Message 11 of 16
pizzadude
Credit Mentor

Re: Pre-selected American Express Green and Gold


@improvedcredit wrote:

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.


You might want to wait a few more months before you apply ~ 5 months is a little bit lean IMO.   And as Walt pointed out, there is no real deadline to apply by the end of the month, you can app anytime....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 12 of 16
FicoTron
Established Contributor

Re: Pre-selected American Express Green and Gold

I got a green invite a few ekes ago and a gold invite today. I have one questionable mark on my report which is an account which was charged off in 2006, but I paid it in 2011. I'm not sure weather to consider that a 6 year old CO, or a 1 year old CO. Anyone know?
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Message 13 of 16
logan_720
Established Contributor

Re: Pre-selected American Express Green and Gold


@FicoTron wrote:
I got a green invite a few ekes ago and a gold invite today. I have one questionable mark on my report which is an account which was charged off in 2006, but I paid it in 2011. I'm not sure weather to consider that a 6 year old CO, or a 1 year old CO. Anyone know?


http://www.ehow.com/about_5379511_chargeoff-date.html

 

That article explains how CO's work. Basically, it is on your account for 7 years, regardless of payment. So your charge off of 6 years old, not just one.

Message 14 of 16
FicoTron
Established Contributor

Re: Pre-selected American Express Green and Gold

My situation is a bit weird. It was marked as a CO in 2006, then when I paid it in 2011, they changed the 2006 mark to a 180 day late, then moved the CO to 2011, so on paper it looks like they charged it off on their records in 2011.
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Message 15 of 16
FicoTron
Established Contributor

Re: Pre-selected American Express Green and Gold

See here, take a good look. They took both of those CO marks off and made them 180 and now moved the CO mark to December 2011, which you don't see. this was what it looked like before I paid it. http://ficoforums.myfico.com/t5/image/serverpage/image-id/1955i9A02F10E293F786F/image-size/original?...
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Message 16 of 16
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