topic AMEX Pre-qual. Should I app? in Credit Card Approvals

AMEX Pre-qual. Should I app?

Anonymous — Thu, 24 Mar 2016 20:00:59 GMT

Howdy all,

Got a mailer today and checked the AMEX pre-qual link. I've checked this before and had no offers, but today I saw this.

https://i.imgsafe.org/625ca54.png

The offer says "We have found the following pre-qualified Card offers for you." not recommended, so I believe I will have a good chance of getting them should I app.

Platinum

100,000 points after $3k spend in 3 months

$450 annual

Platinum Rewards Gold

50,000 points after $1k spend in 3 months

$195 annual, waived first year

EveryDay Credit Card (not interested)

25,000 points after $2k spend in 3 months

I was planning on apping for an AMEX charge card (PRG or Platinum) in June, but was suprised by this offer. Now I'm wondering, should I just app now? I got approved for a CSP in January, $16k CLI. Hard pull in Dec 2015 for that card. $6k Freedom which I've held for 17mo now, and $2.7k CLI Citi DoubleCash which I've held for about 10mo.

My FICO history (as reported by my DoubleCash) is Nov: 781, Dec: 727, Jan: 738, Feb: 770. Balance on the DoubleCash < 1%, balance on the Freedom $0, balance on the CSP < 1% (just paid down at 3%).

The December and January hit is from the HP, see a thread about that here. A few questions...

If I don't take this offer now, will it disappear? IE if I re-check in June, should my FICO remain the same, will I recieve the same 100,000 and 50,000 offers? Or are they great offers which I should jump on now.
Platinum vs PRG? I know this is an oft-mentioned battle. Both spends are achievable ($3k/3mo and $1k/3mo). I'm inclinded to take the Platinum for the 100,000 miles, but don't like the $450 annual and prefer the benefits of the PRG.
Should I choose the Platinum and get the 100,000 points, can I downgrade to PRG and keep the points + get the 1yr waived fee? Any credit hit for doing something like this?
Should I wait for my DoubleCash statement to post (April 3), pay it, then app when only my CSP has a balance (will be less than 1% util still on the CSP).

Lots of questions and I appreciate any and all of your input here. June will be 6mo from the hard pull so that sounds beneficial for an app. But I'm not sure the offers will be there at this point. I'm assuming my FICO will rise from now to then, but I'm not sure what difference it will make. Thanks!!

EDIT: Not that it exactly matters but 793 TU and 793 EQ as of Mar. 21 accroding to CreditKarma.com

Re: AMEX Pre-qual. Should I app?

Anonymous — Thu, 24 Mar 2016 20:04:58 GMT

These are solid offers. Go for it and let us know the results.

Re: AMEX Pre-qual. Should I app?

redpat — Thu, 24 Mar 2016 20:08:17 GMT

Take PRG and Plat.

Apply later for EDP and then close one of the Charges before the next AF, or both and move MR to EDP.

150K for 4k spend is a great deal and net cost after airline credit is $345, I think.

If you use the Plat right you can get more benefit than the cost of $345.

Re: AMEX Pre-qual. Should I app?

Anonymous — Thu, 24 Mar 2016 20:13:05 GMT

Thanks for the reply both of you. Can't work out how to "quote" you so apologies for not doing so.

Yes-Its-Me, thanks for the confidence boost.

Redpat, If I app for both does that result in two HP's or do they share one? Do I litterally click "Apply Now" on that form for one of them, then go back and click "Apply Now" for the other? Apply for Plat, presumed approval, then apply for PRG? Will the offers remain? Any order I should do the two in? Will my future credit hurt from having 2 extra accounts open? Sorry for so many questions...you've opened a whole new can of worms!

Re: AMEX Pre-qual. Should I app?

redpat — Thu, 24 Mar 2016 20:17:36 GMT

@Anonymous wrote:
Thanks for the reply both of you. Can't work out how to "quote" you so apologies for not doing so.

Yes-Its-Me, thanks for the confidence boost.

Redpat, If I app for both does that result in two HP's or do they share one? Do I litterally click "Apply Now" on that form for one of them, then go back and click "Apply Now" for the other? Apply for Plat, presumed approval, then apply for PRG? Will the offers remain? Any order I should do the two in? Will my future credit hurt from having 2 extra accounts open? Sorry for so many questions...you've opened a whole new can of worms!

Same HP.

Apply for Plat first then PRG it should still be there, IMO.

Re: AMEX Pre-qual. Should I app?

Anonymous — Thu, 24 Mar 2016 20:29:15 GMT

@redpat wrote:
@Anonymous wrote:
Thanks for the reply both of you. Can't work out how to "quote" you so apologies for not doing so.

Yes-Its-Me, thanks for the confidence boost.

Redpat, If I app for both does that result in two HP's or do they share one? Do I litterally click "Apply Now" on that form for one of them, then go back and click "Apply Now" for the other? Apply for Plat, presumed approval, then apply for PRG? Will the offers remain? Any order I should do the two in? Will my future credit hurt from having 2 extra accounts open? Sorry for so many questions...you've opened a whole new can of worms!
Same HP.

Apply for Plat first then PRG it should still be there, IMO.

Worked out the quote button...

Plat then PRG - okay. Thoughts on this: wait for DoubleCash statement to post (April 03) then app. I have three open cards, two have a < 1% balance. On April 03 only the CSP will have a balance (still < 1%). Will this be beneficial in any way? Is a reported 770 FICO from Feb, 793 TU & 793 EQ good enough for Plat? Mind you my oldest card is my Freedom at 17mo and my CSP was opened just 3mo ago.

Re: AMEX Pre-qual. Should I app?

Anonymous — Thu, 24 Mar 2016 20:32:02 GMT

@redpat wrote:
@Anonymous wrote:
Thanks for the reply both of you. Can't work out how to "quote" you so apologies for not doing so.

Yes-Its-Me, thanks for the confidence boost.

Redpat, If I app for both does that result in two HP's or do they share one? Do I litterally click "Apply Now" on that form for one of them, then go back and click "Apply Now" for the other? Apply for Plat, presumed approval, then apply for PRG? Will the offers remain? Any order I should do the two in? Will my future credit hurt from having 2 extra accounts open? Sorry for so many questions...you've opened a whole new can of worms!
Same HP.

Apply for Plat first then PRG it should still be there, IMO.

Getting 2 cards with the same hardpull with Amex is a YMMV thing. Some people have gotten 2 inquiries for 2 cards done apart.

Re: AMEX Pre-qual. Should I app?

redpat — Thu, 24 Mar 2016 20:37:34 GMT

@Anonymous wrote:
@redpat wrote:
@Anonymous wrote:
Thanks for the reply both of you. Can't work out how to "quote" you so apologies for not doing so.

Yes-Its-Me, thanks for the confidence boost.

Redpat, If I app for both does that result in two HP's or do they share one? Do I litterally click "Apply Now" on that form for one of them, then go back and click "Apply Now" for the other? Apply for Plat, presumed approval, then apply for PRG? Will the offers remain? Any order I should do the two in? Will my future credit hurt from having 2 extra accounts open? Sorry for so many questions...you've opened a whole new can of worms!
Same HP.

Apply for Plat first then PRG it should still be there, IMO.
Getting 2 cards with the same hardpull with Amex is a YMMV thing. Some people have gotten 2 inquiries for 2 cards done apart.

Good point. I could be two. Can't assume it won't be.

Re: AMEX Pre-qual. Should I app?

Anonymous — Thu, 24 Mar 2016 20:54:58 GMT

@redpat wrote:
@Anonymous wrote:
@redpat wrote:
@Anonymous wrote:
Thanks for the reply both of you. Can't work out how to "quote" you so apologies for not doing so.

Yes-Its-Me, thanks for the confidence boost.

Redpat, If I app for both does that result in two HP's or do they share one? Do I litterally click "Apply Now" on that form for one of them, then go back and click "Apply Now" for the other? Apply for Plat, presumed approval, then apply for PRG? Will the offers remain? Any order I should do the two in? Will my future credit hurt from having 2 extra accounts open? Sorry for so many questions...you've opened a whole new can of worms!
Same HP.

Apply for Plat first then PRG it should still be there, IMO.
Getting 2 cards with the same hardpull with Amex is a YMMV thing. Some people have gotten 2 inquiries for 2 cards done apart.
Good point. I could be two. Can't assume it won't be.

Yikes - would rather not chance two HP's...right?

Re: AMEX Pre-qual. Should I app?

redpat — Fri, 25 Mar 2016 14:20:11 GMT

For 50K I would. That's not a bad payday for a HP, if another is required, it may not be.

But take the 100k first, that's a no brainer.

I only have 50k offer on business gold rewards gold right now, I want the PRG offer.

Also they would love to have your $450 AF, lol.

Re: AMEX Pre-qual. Should I app?

Anonymous — Fri, 25 Mar 2016 13:22:43 GMT

In this post "FICO score miscalculation after new credit account opened?" you'll see my FICO dropped from 781 to 724 after opening my CSP, over 50 points! Most of the members on that thread determined it was due to the AAoA. Will adding two new cards (Platinum and PRG) affect my score heavily like above? Will the AAoA make a dramtic hit again? Two more open accounts and potentially two HP's (fingers crossed they merge if I app...)

Thanks!

Re: AMEX Pre-qual. Should I app?

redpat — Fri, 25 Mar 2016 13:56:57 GMT

You can use MYFICO simulator to find out.

I think they have a 30 day trial.

Any hit would be short-term anyway.

Re: AMEX Pre-qual. Should I app?

Anonymous — Fri, 25 Mar 2016 14:00:50 GMT

@redpat wrote:
You can use MYFICO simulator to find out.

I think they have a 30 day trial.

Any hit would be short-term anyway.

Interesting, will look into that. Another question. I'm reading up on the AMEX hard pull merge rules. Here is an interesting one...

All cards need to be approved in the same day, otherwise multiple pulls will be done (e.g sometimes when you call they’ll say that the application will be reviewed in a few days time. When it’s reviewed another hard pull will be automatically done. You should be able to cancel the second application when doing this if you want to avoid the hard pull).

This means if I apply for Platinum first and don't get auto-approved, I will not be able to apply for the PRG without recieving a second HP. I feel I have a better chance of being approved for the PRG, what would you say? If I app PRG first and get auto-approved then I have a chance to app Platinum and it won't matter if it gets auto-approved of I get the 5-7 days message, correct? Thanks for the help thus far!

Re: AMEX Pre-qual. Should I app?

redpat — Fri, 25 Mar 2016 14:27:23 GMT

Amex has the same underwriting for charge cards. Their Credit Card underwriting is more strict.

You should have no problem w/ Plat 100k offer.

Also they would love your $450 AF, lol!

Re: AMEX Pre-qual. Should I app?

Anonymous — Fri, 25 Mar 2016 14:39:51 GMT

@redpat wrote:
Amex has the same underwriting for charge cards. Their Credit Card underwriting is more strict.

You should have no problem w/ Plat 100k offer.

Also they would love your $450 AF, lol!

Hah..okay, one final question. Should I pay down my Citi DoubleCash so as to have only one card reporting a balance before applying? If I pay it down today can I app immediatly or do I need to wait for the payment to post.

Re: AMEX Pre-qual. Should I app?

redpat — Fri, 25 Mar 2016 15:00:03 GMT

@Anonymous wrote:
@redpat wrote:
Amex has the same underwriting for charge cards. Their Credit Card underwriting is more strict.

You should have no problem w/ Plat 100k offer.

Also they would love your $450 AF, lol!
Hah..okay, one final question. Should I pay down my Citi DoubleCash so as to have only one card reporting a balance before applying? If I pay it down today can I app immediatly or do I need to wait for the payment to post.

App now your good to go!

Charge cards are much easier to get.

Good luck.

Re: AMEX Pre-qual. Should I app?

Anonymous — Fri, 25 Mar 2016 15:10:53 GMT

@redpat wrote:
@Anonymous wrote:
@redpat wrote:
Amex has the same underwriting for charge cards. Their Credit Card underwriting is more strict.

You should have no problem w/ Plat 100k offer.

Also they would love your $450 AF, lol!
Hah..okay, one final question. Should I pay down my Citi DoubleCash so as to have only one card reporting a balance before applying? If I pay it down today can I app immediatly or do I need to wait for the payment to post.
App now your good to go!

Charge cards are much easier to get.

Good luck.

WOW-EE!!!!! Boy is that a rush...every time. App'd Platinum and had the most stressful few minutes of my life. Auto-approved!! I was flying high Jumped right back on the pre-screened offers and app'd PRG. Auto-approved yet again!!! Setting up an account now. Thank you all so much for you input! And thank YOU Redpat for the push to app. Couldn't be happier. Woohoo!

Re: AMEX Pre-qual. Should I app?

redpat — Fri, 25 Mar 2016 15:39:53 GMT

@Anonymous wrote:
@redpat wrote:
@Anonymous wrote:
@redpat wrote:
Amex has the same underwriting for charge cards. Their Credit Card underwriting is more strict.

You should have no problem w/ Plat 100k offer.

Also they would love your $450 AF, lol!
Hah..okay, one final question. Should I pay down my Citi DoubleCash so as to have only one card reporting a balance before applying? If I pay it down today can I app immediatly or do I need to wait for the payment to post.
App now your good to go!

Charge cards are much easier to get.

Good luck.
WOW-EE!!!!! Boy is that a rush...every time. App'd Platinum and had the most stressful few minutes of my life. Auto-approved!! I was flying high Jumped right back on the pre-screened offers and app'd PRG. Auto-approved yet again!!! Setting up an account now. Thank you all so much for you input! And thank YOU Redpat for the push to app. Couldn't be happier. Woohoo!

Congrats.

They are great cards.

Makes the weekend even more enjoyable.

Re: AMEX Pre-qual. Should I app?

Anonymous — Sat, 26 Mar 2016 05:20:18 GMT

congrats

Re: AMEX Pre-qual. Should I app?

Anonymous — Sat, 26 Mar 2016 22:05:42 GMT

Thanks for the congrats guys! Here is my latest thread trying to devise an optimal spending strategy between all of these cards. See: New cards opened, looking for some strategy help. You've all had great input thus far, would appreciate any more you have over there!