topic Re: Amex Platinum Prequal Confusion in Credit Card Applications

Amex Platinum Prequal Confusion

Anonymous — Wed, 18 Sep 2019 00:25:03 GMT

Background: Until recently, I never though I'd apply for this card. I got a promotion at work and I will be traveling at least twice a month if not a lot more. My airport also has a Centurion Lounge . I do not currently have any Amex cards. I was going to apply for the Schwab version since I am already a member with them; but then saw the 100K offer was only for targeted members and I wasn't one of them. I figured I'd get the regular Platinum, then apply for the Schwab after the first year and keep that one permanently. I understand that you can only get a bonus once per card in your life, I'd try to get the best ones I could. Current salary is $48K, new salary will be $65K.

Credit: 4 cards, 822 score. I added one in May from my local credit union because they have my favorite college football team on it. Last time before that I opened a card was 2014. I have 17 years of credit history and my card ages are 14 years, 9 years, 5 years, and 0 years from this season. I currently do not have a car loan or a mortgage payment.

Confusion: I've never had any Amex card before. Just reading about how the MR work, and the sites that calculate value on them were enlightening and headache inducing at the same time. I did receive a Platinum mailer offer roughly 3 years ago with a 60K offer. Which at the time, I had no use for. Now that I feel I can use the card, I went to look at the prequal site (which I've never done before) and punched in my info on Amex wondering if I could get a 100K offer, or the 75K at worst. They only offered me..... the Gold, 50K points for 2K spend, and the regular every day. I scratched my head a little over this considering my previous offer in the mail and that was the same salary I currently have that I received the mailer with.

Questions: 1) Should I have put my new salary even though I am not getting promoted until November 1st? If I went back and did that, would that raise red flags with Amex? 2) Did I upset them by not accepting that previous mailer? 3) How often should I retry the prequal offer? Would that just irritate them? 4) I've read that once you get a card with them it is tough to get the 100K offer on the Platinum. Is that true? 5) What would make me more appealing to Amex and for that card specifically?

Any tips and advice would be appreciated!

I just want to add that I've been lurking a couple months on the forums. My friend at work mentioned this site and I've been working to educate myself further on the topic of credit. I've always been responsible and never had an issue with it, but there is a large amount of information I have been completely unaware of and uninformed about in my little bubble. I like being able to peek behind the curtain and see Oz. Definitely is fun to learn about all of this.

Re: Amex Platinum Prequal Confusion

Brian_Earl_Spilner — Wed, 18 Sep 2019 00:29:40 GMT

If you're pre-approved for the gold, you're pre-approved for the Platinum. One of the benefits of the Schwab is there's no AF for the first year, while all the others bill it your first month.

There's a website, someone will post it, where you can prequal for the 100k.

Re: Amex Platinum Prequal Confusion

PutThatMoneyOnTheTable — Wed, 18 Sep 2019 00:32:17 GMT

Have you tried going incognito?

Re: Amex Platinum Prequal Confusion

Anonymous — Wed, 18 Sep 2019 00:42:04 GMT

I was not aware of Schwab waving the fee. I did see that you can deposit points at a 1 to 1.25 ratio as cash into your Schwab account.

Was I unlucky and didn't see the Platinum? I saw the Gold, which is what they pushed for me, and then the everyday underneath. I couldn't find any other cards they were offering me. I'd honestly want both, but was surprised to not see that offer for the Platinum. When should I check again?

As far as incognito, are you talking about refreshing the site for it to see what kind of offers? I did try that. Or filling out all the prequal stuff and submitting it in incognito? I did not attempt this.

Re: Amex Platinum Prequal Confusion

Brian_Earl_Spilner — Wed, 18 Sep 2019 01:08:34 GMT

Amex will offer you 3 cards they think would be good for you, but the underwriting is basically the same for all the charge cards, so if approved for one, approved for all. Incognito isn't important until you're an existing member and trying to get a higher sub than what is offered in your account.

Re: Amex Platinum Prequal Confusion

FinStar — Wed, 18 Sep 2019 01:16:44 GMT

@Brian_Earl_Spilner wrote:
If you're pre-approved for the gold, you're pre-approved for the Platinum. One of the benefits of the Schwab is there's no AF for the first year, while all the others bill it your first month.

There's a website, someone will post it, where you can prequal for the 100k.

AFAIK, the Schwab Platinum does not have the first year AF waiver. Where do you see that? In the past, the Ameriprise version of the Platinum card used to have the first year waived, but that is no longer the case.

https://www.americanexpress.com/us/cardmember-agreements/all-us.html

Fees

Annual Membership Fee

$550

Re: Amex Platinum Prequal Confusion

Brian_Earl_Spilner — Wed, 18 Sep 2019 01:17:27 GMT

@FinStar wrote:
@Brian_Earl_Spilner wrote:
If you're pre-approved for the gold, you're pre-approved for the Platinum. One of the benefits of the Schwab is there's no AF for the first year, while all the others bill it your first month.

There's a website, someone will post it, where you can prequal for the 100k.
AFAIK, the Schwab Platinum does not have the first year AF waiver. Where do you see that? In the past, the Ameriprise version of the Platinum card used to have the first year waived, but that is no longer the case.

https://www.americanexpress.com/us/cardmember-agreements/all-us.html
Fees
Annual Membership Fee
$550

Ah, that's right. Thanks for the correction. Too bad they don't waive it anymore

Re: Amex Platinum Prequal Confusion

Anonymous — Wed, 18 Sep 2019 01:29:28 GMT

@Brian_Earl_Spilner wrote:
Amex will offer you 3 cards they think would be good for you, but the underwriting is basically the same for all the charge cards, so if approved for one, approved for all. Incognito isn't important until you're an existing member and trying to get a higher sub than what is offered in your account.

Thank you for the explanation.

I guess I didn't see a way to shift to the other cards? I'm definitely gunning for the whole 100K if I can get it lol. If not, at least I know I am eligible.

How soon should I try the prequal again?

Re: Amex Platinum Prequal Confusion

FinStar — Wed, 18 Sep 2019 01:29:30 GMT

@Brian_Earl_Spilner wrote:
@FinStar wrote:
@Brian_Earl_Spilner wrote:
If you're pre-approved for the gold, you're pre-approved for the Platinum. One of the benefits of the Schwab is there's no AF for the first year, while all the others bill it your first month.

There's a website, someone will post it, where you can prequal for the 100k.
AFAIK, the Schwab Platinum does not have the first year AF waiver. Where do you see that? In the past, the Ameriprise version of the Platinum card used to have the first year waived, but that is no longer the case.

https://www.americanexpress.com/us/cardmember-agreements/all-us.html
Fees
Annual Membership Fee
$550

Ah, that's right. Thanks for the correction. Too bad they don't waive it anymore

Trust me, lots of folks miss the Ameriprise Platinum first year AF-waiver which was pretty lucrative - granted no SUB, but a good tradeoff for the perks.

On the other hand, I don't think I've ever seen the Schwab Platinum feature an introductory promo or first year AF being waived. There was an amazing (targeted) 100K SUB promo on it not long ago.

@Anonymous, it may be possible to trigger the 100K SUB via Cardmatch, but as with anything it's YEMV. And, from time to time, the standard Platinum 75K SUB can be just as lucrative via incognito.

Re: Amex Platinum Prequal Confusion

CreditCuriosity — Wed, 18 Sep 2019 03:26:00 GMT

Correct @Brian_Earl_Spilner was thinking of the amerprise

Re: Amex Platinum Prequal Confusion

Anonymous — Wed, 18 Sep 2019 16:52:04 GMT

OP, IMO I think that you should wait until you actually get the promotion before you decide on a certain card. Applying before you know your specific needs is a bit premature, since the AF is billed almost immediately. $250 Gold and $450 Platinum. And would have no idea how to offset that fee as of yet? Unless your Job plans to cover that fee for you.

You might find that Chase UR's are more versatile for you needs, once in the new position.

I would take this time to truly put in some research on possible contenders, then once you have a grasp on your new spending pattern it will be easier to choose which card fits best.

Re: Amex Platinum Prequal Confusion

Anonymous — Sun, 22 Sep 2019 01:20:23 GMT

@Anonymous wrote:
OP, IMO I think that you should wait until you actually get the promotion before you decide on a certain card. Applying before you know your specific needs is a bit premature, since the AF is billed almost immediately. $250 Gold and $450 Platinum. And would have no idea how to offset that fee as of yet? Unless your Job plans to cover that fee for you.

You might find that Chase UR's are more versatile for you needs, once in the new position.

I would take this time to truly put in some research on possible contenders, then once you have a grasp on your new spending pattern it will be easier to choose which card fits best.

I will take a peek into Chase and see if that is is more useful. I do know they will be reimbursing me for travel expenses. Flights, uber and/or rental car, and I will have a per diem for food. I'm not sure if I will be able to work any points into the flights, but it seems I'd get some reasonable perks out of some of that. With the Gold I'd basically be able to earn points on there dime at dinner .

As far as paying the fee up front, I wouldn't have a problem with that. I do have a general idea of the travel in regards to the position. I'm not saying it completely justifies the annual fee, or is the best option (which is why I will go check out the Chase options), but it certainly IMO isn't a bad decision either.