topic Re: AMEX app question in Credit Card Applications

AMEX app question

Newbie2018 — Thu, 30 May 2019 13:47:12 GMT

Just curious, if i appd for an American Express card would the same pull be used if i tried for a different card? Are my chances for denial the same with a different card? I keep getting the prequalified mail about the green card but from the looks of it, it is not worth it. Maybe just to get in the door with them.

Re: AMEX app question

simplynoir — Thu, 30 May 2019 14:08:26 GMT

What card from AMEX are you interested in getting? I ask because I wouldn't apply just for the sake of "getting in" with a bank I would get a card that would benefit you and see actual use.

To answer your questions yes they would use the same HP and depends on the card/product you're applying for UW criteria can be different.

Re: AMEX app question

Newbie2018 — Thu, 30 May 2019 14:21:37 GMT

I will be traveling this summer so i am searching for a card that offers good rewards with traveling benefits. Amex has just always been a unicorn for me. I will be setting out on a business venture within the next year and ive heard alot of good things about their business cards so what i meant when i said getting in the door with them, it would benefit me later when i need a business card as well.

Okay, i just dont wanna risk another hard pull for a different card. I tried the prequal and did not get any luck but ive seen a few say that that never worked for them and still were approved after cold app. I also wouldnt see why the preapproved me through mail for the green card, if i wasnt eligible for anything on the prequal.

Re: AMEX app question

Brian_Earl_Spilner — Thu, 30 May 2019 14:33:47 GMT

I cold apped and was approved. If you got a pre-approval for the green, you should be able to get any of the charge cards. What's your fico 8 scores? You can get a Delta, Hilton, and depending on profile strength, the charge cards with at least 640. The rest would need around 670+.

Re: AMEX app question

simplynoir — Thu, 30 May 2019 14:33:54 GMT

It's marketing pretty much with mailers like that. You fit the criteria for them sending offers for their Green card. Anecdotally, the charge cards (Green, Gold, Platinum) have the same underwriting criteria for all of them as long as you're willing to pay the AF for the card(s) of your choice.

If you were willing to provide information on your current credit profile we can assist you on your odds of getting an AMEX card.

Re: AMEX app question

Newbie2018 — Thu, 30 May 2019 14:51:09 GMT

Sure..

AAoA 1 year 6 months

Oldest acount 6 years and 10 months

I am in AZEO right now so my utilazation is showing 0%

I have 8 store cards

reg revolving i have CITI (not reporting yet) Cap one plat (not reporting yet) , a credit union low limit card, discover, bank of america cash rewards, dcu plat (not reporting yet)

2 student loans in deferment

No collections

One closed Neg paid Charge off (the oldest account on profile)

1 auto loan about 32% ive paid so far

Scores EX:662, TU 708, EQ 686 All FICO

Re: AMEX app question

Anonymous — Thu, 30 May 2019 15:22:04 GMT

Have you tried using their "Pre-Qualify" page?

https://www.americanexpress.com/us/credit-cards/check-for-offers/?inav=menu_cards_prequal_offer

Once you have entered in your information, if you qualify for a card, you'll see "Name, you are pre-approved!" I forget what the nomenclature is when you're not approved for a card (With some searching you'll be able find that phrase in this forum). It's an easy way to check if you're approved or not without burning a hard pull.

Re: AMEX app question

CreditInspired — Thu, 30 May 2019 15:36:10 GMT

@Newbie2018 wrote:
I will be traveling this summer so i am searching for a card that offers good rewards with traveling benefits. Amex has just always been a unicorn for me. I will be setting out on a business venture within the next year and ive heard alot of good things about their business cards so what i meant when i said getting in the door with them, it would benefit me later when i need a business card as well.

Okay, i just dont wanna risk another hard pull for a different card. I tried the prequal and did not get any luck but ive seen a few say that that never worked for them and still were approved after cold app. I also wouldnt see why the preapproved me through mail for the green card, if i wasnt eligible for anything on the prequal.

There's is a possibility that what you're getting in the mail is marketing material.

If you provide us with your stats, we can give you more guidance.

Re: AMEX app question

CreditInspired — Thu, 30 May 2019 15:37:57 GMT

@simplynoir wrote:
It's marketing pretty much with mailers like that. You fit the criteria for them sending offers for their Green card. Anecdotally, the charge cards (Green, Gold, Platinum) have the same underwriting criteria for all of them as long as you're willing to pay the AF for the card(s) of your choice.

If you were willing to provide information on your current credit profile we can assist you on your odds of getting an AMEX card.

OMG, my answer almost mirrors yours.

Re: AMEX app question

CreditInspired — Thu, 30 May 2019 15:42:24 GMT

@Newbie2018 wrote:
Sure..
AAoA 1 year 6 months
Oldest acount 6 years and 10 months
I am in AZEO right now so my utilazation is showing 0%
I have 8 store cards
reg revolving i have CITI (not reporting yet) Cap one plat (not reporting yet) , a credit union low limit card, discover, bank of america cash rewards, dcu plat (not reporting yet)
2 student loans in deferment

No collections
One closed Neg paid Charge off (the oldest account on profile)
1 auto loan about 32% ive paid so far

Scores EX:662, TU 708, EQ 686 All FICO

IMHO, I would hold off for about 6 months before applying for an AmX since you just received 3 new CCs, which when they start reporting, your scores will drop in addition to some points lost for the HPs.

Re: AMEX app question

Anonymous — Thu, 30 May 2019 15:50:17 GMT

@CreditInspired wrote:
@Newbie2018 wrote:
Sure..
AAoA 1 year 6 months
Oldest acount 6 years and 10 months
I am in AZEO right now so my utilazation is showing 0%
I have 8 store cards
reg revolving i have CITI (not reporting yet) Cap one plat (not reporting yet) , a credit union low limit card, discover, bank of america cash rewards, dcu plat (not reporting yet)
2 student loans in deferment

No collections
One closed Neg paid Charge off (the oldest account on profile)
1 auto loan about 32% ive paid so far

Scores EX:662, TU 708, EQ 686 All FICO
IMHO, I would hold off for about 6 months before applying for an AmX since you just received 3 new CCs, which when they start reporting, your scores will drop in addition to some points lost for the HPs.

Playing Devil's advocate here, but if he waits 6 months, couldn't that make his chances more difficult because he'd be risking denial for "too many new accounts" because in 6 months those 3 unreported CCs will have hit? And his scores are higher now than they will be after 3 new accounts hit and drop his AAoA and AoYA?

Re: AMEX app question

Anonymous — Fri, 31 May 2019 07:34:25 GMT

I think the platinum charge card is the best amex travel card. But if you fly delta they have some good signup bonus right now. Could get you a free round trip ticket depending on where you going. I don't know if you need a relationship with amex to get a business card. I had a charge card with them before I got a business card. I've been told amex is very small business friendly.

Re: AMEX app question

Newbie2018 — Fri, 31 May 2019 11:36:11 GMT

Well if I'd be risking another hard pull it makes no sense to wait 6 months. It wouldnt make sense to wait 6 months because by then right, I'd have too many new accounts.

Re: AMEX app question

Newbie2018 — Fri, 31 May 2019 11:51:29 GMT

I listed my info in the previous comments. Any more input would be nice.

Re: AMEX app question

Anonymous — Fri, 31 May 2019 12:07:02 GMT

Again, with the disclaimer that every single profile is different and can yield different results:

I’ve opened 13 accounts since 2/2018. Five of those are Amex. When I cold apped my first time for Amex in November, it was for Delta Gold and Hilton Honors. I did them 90 minutes apart and was approved for both. My next one was the Hilton Ascend on 3/3, followed by BCP on 5/23 and Gold on 5/27. All were approved, even with two of the other new cards happening in among the Amex apps.

I am sure that any lender has a point where they say enough is enough. I found that in my case, they were quite generous with card approvals and the other accounts I had opened did not seem to bother them much. But I can’t stress enough that YMMV. Among cards I’d had before 2/2018, one is 5-1/2 years old, one is 13 years old, and as of that date I had three old, closed with perfect history car loans on my EX, all of which I’m sure helped when added to my newer account histories (all of which also have perfect payment records).

Your score will matter with Amex but I am willing to say that the overall picture of your credit history will matter just as much.

Re: AMEX app question

Remedios — Fri, 31 May 2019 12:10:20 GMT

@Newbie2018 wrote:
Well if I'd be risking another hard pull it makes no sense to wait 6 months. It wouldnt make sense to wait 6 months because by then right, I'd have too many new accounts.

When you open 3 new accounts in a month, it makes all the sense in the world to wait. 6 months is bare minimum after a spree like that.

You already have too many new accounts. Even if they are not on your CR today, they will be when your lenders perform SP ARs.

Re: AMEX app question

Remedios — Fri, 31 May 2019 12:12:07 GMT

@Newbie2018 wrote:
I listed my info in the previous comments. Any more input would be nice.

You never listed SLs on your cards. It would be helpful to see if you started getting low(ish) limits. That usually indicative of "time to sit down"

Re: AMEX app question

CreditInspired — Fri, 31 May 2019 12:42:43 GMT

@Newbie2018 wrote:
Well if I'd be risking another hard pull it makes no sense to wait 6 months. It wouldnt make sense to wait 6 months because by then right, I'd have too many new accounts.

It’s more than just the HPs. It’s also about AA if CCCs deem your credit-seeking behavior as too risky for their portfolio. Remember, building a great credit profile is a marathon, not a race.

Re: AMEX app question

Brian_Earl_Spilner — Fri, 31 May 2019 13:57:38 GMT

Amex isn't spooked by inquiries or new accounts. My Delta was my 7th card in 7 months and my inquiries were in the double digits. It won't hurt to wait. Your ex puts you right at borderline approval so right now you're rolling the dice based on marketing material.

Re: AMEX app question

Anonymous — Fri, 31 May 2019 14:00:49 GMT

Agreed with all the above. Waiting 6 months could be the difference between a $1000 SL and a $5000+ SL.