topic Amex prequalify tool, how accurate? in Credit Card Applications

Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 03:37:13 GMT

Hello all! So I was on the American Express website a few min. Ago and I decided to check to see if I pre qualified for a card. It says 'Good news ***** ******, you are successfully pre qualified for the following card offers exclusively by American Express. " the blue cash every day, the green card and the Amex everyday. Would I really qualify for one of these with the scores in my sig? Anyone can tell me their scores when they were approved for one of these? Wasn't sure how accurate it is, I've only read on here people talking about the Discover pre qualify tool. Thank youuuu!

Re: Amex prequalify tool, how accurate?

crednovice16 — Fri, 09 Mar 2018 03:58:01 GMT

Hey, CW,

I had a similar story. Was prequalified on the website (same message as you) for Blue Cash Everyday, Amex Green, and Amex Everyday. Apped for Green Card first and was approved. A couple days later apped for Blue Cash and was approved(no sign up bonus, though). Even went back a week later and was approved for Hilton Honors card...Gardening now, but can’t believe it!!

Experian 661, Equifax 662, Transunion 647

original scores 8/17. 624, 628, 629

Re: Amex prequalify tool, how accurate?

simplynoir — Fri, 09 Mar 2018 04:04:50 GMT

The AMEX prequalify tool is about as sure as one can be without it being a 100% guarantee. For the most part if you see pre-approved offers pop up when you run it you stand a good chance of getting the card.

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 04:10:42 GMT

Thanks for replying so quickly! I'm a year into my rebuild so I've never bothered with these websites to see if I'm pre-qualified cause I knew I wouldn't be. Scores still arent excellent but I'm getting there! Seems surreal that I could finally be approved for amex? Maybe it's just not as hard as I thought. Haven't done much research about them but I will. So what's the perks of the green card? May I ask why you picked that one first?

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 04:16:47 GMT

Awesome, thanks Simplynoir! If I decide to take the bait I'll be sure to post to give an outcome. Apr seems super high though idk, 24%! I'd rather wait and see if it drops as my scores improve more in the next couple of months. Does anyone think it will?

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 06:40:04 GMT

Did the prequalification say 24% as a single number, or are you talking about the top number in a range? If it said 24%, then I’d say it’s almost 100% sure you’d get it. The APR can always be lower with AMEX. I’m down 3% from the last time I asked.

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 12:17:53 GMT

Yes it 24.4 on all of them.

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 12:25:40 GMT

I've always had excellent payment history with AMEX. I haven't had one in years though and afraid to even try to get one right now. Has anyone ever had a paid charge off on their history when applying and got approved/any time of negative items on report ? What is the average credit score that AMEX requires ? I know, like you all said, to use the pre-qualify tool but I don't always trust those fully..

Re: Amex prequalify tool, how accurate?

SwarthyOgre — Fri, 09 Mar 2018 13:03:39 GMT

While I cant say exactly how AMEX thinks when doing approvals i CAN share my experience with them.

6/17 - 3 credit cards (2 from Cap1 and a Chase) totaling $3,800 CL at about 40% UTIL and a Gamestop card at $650 and 0% UTIL, Experian FICO 8 - 667. Some 6 year old 120+ day lates from paid off student loans and one 30 day from almost 2 years ago. Approved for BC with a $1,400 SL and 18.24% APR.

8/17 - At about 35% UTIL overall and 30% on AMEX BC Experian FICO 8 - 675. Requested 3X CLI instant approval, new CL $4,200.

2/18 - At about 35% UTIL overall and 30% on AMEX BC Experian FICO 8 - 712. Requested 3X CLI instant approval, new CL $12,600. I also applied for and got an instant approval for AMEX ED, CL $9,800.

While YMMV applies I think you stand a good chance and dont get disheartened by a low SL if you get one...3x CLI will get you up there.

Re: Amex prequalify tool, how accurate?

wingennis — Fri, 09 Mar 2018 13:18:56 GMT

@Anonymouswrote:
I've always had excellent payment history with AMEX. I haven't had one in years though and afraid to even try to get one right now. Has anyone ever had a paid charge off on their history when applying and got approved/any time of negative items on report ? What is the average credit score that AMEX requires ? I know, like you all said, to use the pre-qualify tool but I don't always trust those fully..

I have two paid charge offs on all three bureau reports. AMEX approved my Delta Gold and PRG. My score was 614 when I got the Delta, 689 when I got the PRG.

Re: Amex prequalify tool, how accurate?

LCC_mk14 — Fri, 09 Mar 2018 13:31:45 GMT

I think you have a good shot!

The co-branded cards form AMEX seem to have less strict underwriting standards, so you may want to go for one of those instead.

With you EX score you can likley get a gold delta. I had an EX 685 when I got the gold delta and the PRG and I was only pre-qualified for the same cards you are. Will be going for my 3x CLI in April

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 13:55:21 GMT

I've seen plenty of people on credit pulls database that have collections and charge offs that were approved. Majority of pulls were from EX , some from EQ but those weren't the basic cards.

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 13:56:37 GMT

Thanks! 3xcli is 60 days or 90?

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 14:05:01 GMT

@Anonymouswrote:
Thanks! 3xcli is 60 days or 90?

61 days after your account got opened.

Re: Amex prequalify tool, how accurate?

simplynoir — Fri, 09 Mar 2018 14:15:04 GMT

@Anonymouswrote:
Awesome, thanks Simplynoir! If I decide to take the bait I'll be sure to post to give an outcome. Apr seems super high though idk, 24%! I'd rather wait and see if it drops as my scores improve more in the next couple of months. Does anyone think it will?

Assuming your scores keep improving I would wait since the APR will improve and also perhaps better signup offers will show because I'm going to hazard a guess and say some/none of the cards came with one with such high APRs being offered.

Re: Amex prequalify tool, how accurate?

Anonymous — Fri, 09 Mar 2018 15:03:49 GMT

Only green card has a special 0% intro and 0% for transfer balance. All my cards are high Apr, Except my state employees credit union card, which is 10.5%. So I have to pif every month or im going to pay an arm and a leg, which is best practice anyway but any large purchase I've made I pay off the next month. I don't think a delta card is for me so I'd rather wait so I can get a bonus or lower apr. Thanks!

Re: Amex prequalify tool, how accurate?

Anonymous — Sun, 05 Aug 2018 10:16:11 GMT

Did you ever apply?

Re: Amex prequalify tool, how accurate?

Anonymous — Mon, 06 Aug 2018 14:30:16 GMT

Hi! No I haven't applied yet. I have received a couple of mailers since ive posted this though, so I think I have a pretty good shot! I went ahead and applied with Discover instead for the moment because I think the cash back stuff will be super beneficial. Approved for 7,600$! I'll let you know when I Do apply with Amex.

Re: Amex prequalify tool, how accurate?

Anonymous — Sat, 15 Sep 2018 19:31:51 GMT

I have fico scores around 800. But I got 3 lousy cards “prequalified”, such blue cash Amex gold. I wonder why I got same prequal as someone with score below 700?

Re: Amex prequalify tool, how accurate?

Anonymous — Sat, 15 Sep 2018 20:16:45 GMT

@Anonymous wrote:
I have fico scores around 800. But I got 3 lousy cards “prequalified”, such blue cash Amex gold. I wonder why I got same prequal as someone with score below 700?

What are your expectations?