topic Re: Amex Experts Help Please with Pre-Qual in Credit Card Applications

Amex Experts Help Please with Pre-Qual

Anonymous — Thu, 05 Mar 2020 20:32:54 GMT

I have only been building my credit for the last six months. I check the Amex site for pre-quals every month and it has been a no-go until today.

I got the 'check out this pre-qual offer' message for the Hilton Surpass, Hilton Aspire and Delta Reserve cards. All three show an APR range of 16.74% to 25.74%.

Fico 8 scores today are EQ 711/TU 696/EX 691; Fico 9's are EQ 711/TU 714/EX 706.

I realize that my file is very thin (like tissue paper thin) and my question is this. If I apply for one of these cards and don't qualify, is there a chance Amex will give me a lower tier card (Like I app for Delta Reserve but don't make the cut, is it possible they will offer a Delta Blue or Gold or would I have to app again to find out?

I have always received the 'sorry' message in the past so I am trying to gage my possible chances for approval and honestly all three of the cards that were offered seem way to extreme for my profile, so any advice/insights would be very much appreciated.

Re: Amex Experts Help Please with Pre-Qual

AverageJoesCredit — Thu, 05 Mar 2020 20:37:43 GMT

@Anonymous wrote:
I have only been building my credit for the last six months. I check the Amex site for pre-quals every month and it has been a no-go until today.

I got the 'check out this pre-qual offer' message for the Hilton Surpass, Hilton Aspire and Delta Reserve cards. All three show an APR range of 16.74% to 25.74%.
Fico 8 scores today are EQ 711/TU 696/EX 691; Fico 9's are EQ 711/TU 714/EX 706.

I realize that my file is very thin (like tissue paper thin) and my question is this. If I apply for one of these cards and don't qualify, is there a chance Amex will give me a lower tier card (Like I app for Delta Reserve but don't make the cut, is it possible they will offer a Delta Blue or Gold or would I have to app again to find out?

I have always received the 'sorry' message in the past so I am trying to gage my possible chances for approval and honestly all three of the cards that were offered seem way to extreme for my profile, so any advice/insights would be very much appreciated.

Amex does not counter offer credit cards. Each card is a separate application so if you get denied one but want the lower tiered card, you will need to apply for it .

My advice is dont let the prequal rule your mindset. Just because you dont have a prequal doesnt mean you cant be approved. Know your profile. Apply for cards that fit your current needs/spend not necessarily because one seems higher tier or is "boss". Your Ex is good enough to get an approval from Amex. Good luck

Re: Amex Experts Help Please with Pre-Qual

seattletravels — Thu, 05 Mar 2020 20:41:29 GMT

If the Delta Reserve doesn't fit your spending profile, apply for the one that does. Go for the gold!

Re: Amex Experts Help Please with Pre-Qual

Anonymous — Thu, 05 Mar 2020 22:23:05 GMT

Also, the underwriting on the Reserve is the same as for the Delta Gold and the Hilton/Marriott cards. The cobranded cards form one tier of Amex cards. Middle tier is charge cards (Green/Gold/Platinum), and upper tier is core revolvers (EDs, BCs, CM). Qualify for one card in a tier and odds are you're good with any of them in that tier.

Re: Amex Experts Help Please with Pre-Qual

blindambition — Thu, 05 Mar 2020 21:44:56 GMT

@AverageJoesCredit wrote:
@Anonymous wrote:
I have only been building my credit for the last six months. I check the Amex site for pre-quals every month and it has been a no-go until today.

I got the 'check out this pre-qual offer' message for the Hilton Surpass, Hilton Aspire and Delta Reserve cards. All three show an APR range of 16.74% to 25.74%.
Fico 8 scores today are EQ 711/TU 696/EX 691; Fico 9's are EQ 711/TU 714/EX 706.

I realize that my file is very thin (like tissue paper thin) and my question is this. If I apply for one of these cards and don't qualify, is there a chance Amex will give me a lower tier card (Like I app for Delta Reserve but don't make the cut, is it possible they will offer a Delta Blue or Gold or would I have to app again to find out?

I have always received the 'sorry' message in the past so I am trying to gage my possible chances for approval and honestly all three of the cards that were offered seem way to extreme for my profile, so any advice/insights would be very much appreciated.
Amex does not counter offer credit cards. Each card is a separate application so if you get denied one but want the lower tiered card, you will need to apply for it .

My advice is dont let the prequal rule your mindset. Just because you dont have a prequal doesnt mean you cant be approved. Know your profile. Apply for cards that fit your current needs/spend not necessarily because one seems higher tier or is "boss". Your Ex is good enough to get an approval from Amex. Good luck

Best answer for what you seek. GL2U!!

Re: Amex Experts Help Please with Pre-Qual

Anonymous — Thu, 05 Mar 2020 21:49:20 GMT

Apply for a card based on your spending habits/needs. Be realistic based on your profile. When checking prequalified offers, in the rates and fees section of the offer, check if it shows a solid apr instead of a range. It can help you gauge your approval odds. Best of luck!

Re: Amex Experts Help Please with Pre-Qual

addicted_to_credit — Thu, 05 Mar 2020 22:16:27 GMT

My son pre qualified yesterday for AMEX not a set apr but a range he's 19 works an entry level position at Ford (20k/year). He only has his car loan reporting other than that he's an AU on a couple of my cards. He was approved by Navy fed last week for a 500 dollar SL More Rewards. Yesterday he was approved by AMEX for a 2k SL. It blew my mind....

Re: Amex Experts Help Please with Pre-Qual

Anonymous — Thu, 05 Mar 2020 22:24:25 GMT

Thank you all for the information! I really, really appreciate the insight.

I think I was so surprised to actually see cards pop-up on the pre-qual page after getting the 'you must be joking- heck no' message since June of 2019. My scores took a dive with my Best Buy Visa ($2K) and NFCU CR's ($10K) approvals last month, so I can be patient. There is a big difference between needing and wanting...not that applying that logic is much fun lol! If the offer is there now it will probably be there in six months as well!

Once again, Mahalo!!

Re: Amex Experts Help Please with Pre-Qual

Anonymous — Thu, 05 Mar 2020 22:27:35 GMT

@addicted_to_credit a huge congrats to your son!

Re: Amex Experts Help Please with Pre-Qual

addicted_to_credit — Thu, 05 Mar 2020 22:44:02 GMT

Thank you, @leilaniS, he's excited about it and I'm pretty nervous. I'm not so sure most 19 year olds need a 2k limit. I hope he doesn't mess up. Amex is a great one to get in with. I hope you find what fits you best and you get it!

Re: Amex Experts Help Please with Pre-Qual

kudosalert — Fri, 06 Mar 2020 01:54:19 GMT

@addicted_to_credit wrote:
Thank you, @leilaniS, he's excited about it and I'm pretty nervous. I'm not so sure most 19 year olds need a 2k limit. I hope he doesn't mess up. Amex is a great one to get in with. I hope you find what fits you best and you get it!

so would this a bad time to tell him that he could ask for 3x CLI in 62 days?

Re: Amex Experts Help Please with Pre-Qual

Brian_Earl_Spilner — Fri, 06 Mar 2020 02:05:59 GMT

@Anonymous wrote:
Also, the underwriting on the Reserve is the same as for the Delta Gold and the Hilton/Marriott cards. The cobranded cards form one tier of Amex cards. Middle tier is charge cards (Green/Gold/Platinum), and upper tier is core revolvers (EDs, BCs, CM). Qualify for one card in a tier and odds are you're good with any of them in that tier.

I don't know about the Marriott. I've never seen one with a $1k limit. It might be easier to get than a core revolver, but I don't think it's on the same level as the other co-branded cards.

Re: Amex Experts Help Please with Pre-Qual

kudosalert — Fri, 06 Mar 2020 02:34:35 GMT

Amex was very generous w/ my thin profile. Gave me a 5k SL on my Surpass. 3x that to 15k. Applied for Aspire a few months later but they only gave me 3k. Recently applied for the no AF Everyday card and was approved for 2k. Makes sense because I'm still very new to them.

Re: Amex Experts Help Please with Pre-Qual

Anonymous — Fri, 06 Mar 2020 02:48:56 GMT

@Brian_Earl_Spilner wrote:
@Anonymous wrote:
Also, the underwriting on the Reserve is the same as for the Delta Gold and the Hilton/Marriott cards. The cobranded cards form one tier of Amex cards. Middle tier is charge cards (Green/Gold/Platinum), and upper tier is core revolvers (EDs, BCs, CM). Qualify for one card in a tier and odds are you're good with any of them in that tier.
I don't know about the Marriott. I've never seen one with a $1k limit. It might be easier to get than a core revolver, but I don't think it's on the same level as the other co-branded cards.

Definitely won't see a $1k limit on that card with a $450 AF - it'd be minimum $1800 (likely rounded to $2k) due to the AF being able to be 25% of the CL at most. But that doesn't mean the underwriting criteria is any tougher than the HH/Delta cards in terms of qualifying for it. I would suppose it might be marginally higher since amex couldn't give someone a toy limit on it, but anecdotally it seems to be more in line with the other cobranded cards than the higher tiers in their lineup. Obviously I don't know for sure but it doesn't make a lot of sense to position one cobrand higher than all the others. They'd likely take a flyer on someone for a little more CL in exchange for that fat AF.

Re: Amex Experts Help Please with Pre-Qual

Brian_Earl_Spilner — Fri, 06 Mar 2020 03:17:18 GMT

@Anonymous wrote:
@Brian_Earl_Spilner wrote:
@Anonymous wrote:
Also, the underwriting on the Reserve is the same as for the Delta Gold and the Hilton/Marriott cards. The cobranded cards form one tier of Amex cards. Middle tier is charge cards (Green/Gold/Platinum), and upper tier is core revolvers (EDs, BCs, CM). Qualify for one card in a tier and odds are you're good with any of them in that tier.
I don't know about the Marriott. I've never seen one with a $1k limit. It might be easier to get than a core revolver, but I don't think it's on the same level as the other co-branded cards.
Definitely won't see a $1k limit on that card with a $450 AF - it'd be minimum $1800 (likely rounded to $2k) due to the AF being able to be 25% of the CL at most. But that doesn't mean the underwriting criteria is any tougher than the HH/Delta cards in terms of qualifying for it. I would suppose it might be marginally higher since amex couldn't give someone a toy limit on it, but anecdotally it seems to be more in line with the other cobranded cards than the higher tiers in their lineup. Obviously I don't know for sure but it doesn't make a lot of sense to position one cobrand higher than all the others. They'd likely take a flyer on someone for a little more CL in exchange for that fat AF.

But, that's kind of my point. Requiring a minimum starting limit because of the AF, changes the qualifications. It puts it out of reach of rebuilders, people who have burned amex in the past, and people with super thin files. If you apply that logic to the Delta reserve, that means it doesn't have the same underwriting as the other 3 deltas.

Re: Amex Experts Help Please with Pre-Qual

Anonymous — Fri, 06 Mar 2020 04:50:02 GMT

It might change the qualifications, or it may be that Amex is willing to give someone a Reserve (or Bonvoy) if they qualify for a DG or HH card. Yes they'd have to grant a higher CL but they'd be getting a big AF for doing so. I agree it could be either way. I'm just saying they may not have any higher creditworthiness standard for awarding a $450 cobrand as they do a lesser one, feeling that the bigger AF makes it worth it.

Re: Amex Experts Help Please with Pre-Qual

AverageJoesCredit — Fri, 06 Mar 2020 12:16:13 GMT

@addicted_to_credit wrote:
Thank you, @leilaniS, he's excited about it and I'm pretty nervous. I'm not so sure most 19 year olds need a 2k limit. I hope he doesn't mess up. Amex is a great one to get in with. I hope you find what fits you best and you get it!

Amex is usually very good to new profiles. I know they gave me a card at that age more or less. If you think 2k is scary, wait til your son gets his 2nd NFCU card. Im calling 15k right now! Mark it

Re: Amex Experts Help Please with Pre-Qual

addicted_to_credit — Fri, 06 Mar 2020 12:51:25 GMT

AJC, bet! 😬

Re: Amex Experts Help Please with Pre-Qual

elixerin — Mon, 09 Mar 2020 00:12:46 GMT

tbh i would wait for the EXP to surpass 700 and wait for the prequal to show a core revolver, last thing you want is a 1 or 2k SL thats hard to grow but show a higher score and you are already out of that nest (its what i did!), i was eager for my first amex and when i received prequals i actually waited for a 1% uti report to first update THEN i went for the app.. but thats just me over doing it

DP on Cash Magnet Approval Nov 2019 (4k).

EXP 712

INQ 15

1% UTI

EXACTLY 1 year history on approval

no loans

no derogs (obv )

Jan 2020 AMEX 3x CLI DP (card received around 38k in spend since Nov)

702 FICO

1% aggreg. report

4k->12k

Hope dp's help, best wishes in whatever you decide

Re: Amex Experts Help Please with Pre-Qual

Anonymous — Mon, 09 Mar 2020 02:57:42 GMT

@elixerin thank you for the DP's and advice.

It makes a lot of sense to wait for a pre-qual with a core revolver to show and I can certainly age my current cards and let my scores rebound...no rush to end up with a $1K SL or worse. My current utilization is just under 4% and I'll make sure it's at 1% when I finally app. I will check again in August after I have a year of history.

Thank you again!