topic Amex Pre-Qualify in Credit Card Applications

Amex Pre-Qualify

SDMarik — Thu, 26 Mar 2020 21:52:49 GMT

How reliable is the Amex pre-qual?

I have a lot of travel coming up over the next couple of years, the Amex Platinum card is very attractive.

Right now my Experian Fico8 is sitting at 707.

I have 8% utlization

No inquries in the past 2 years

Nothing in collections

No foreclosures, judgements, etc.

Everythng on my credit report is "good" to "exceptional" except for my payment history. That is "fair" at 98%

However, I do have a late payment (30 days) about 8 months ago on a joint retail account.

I really do not want to take the inquiry if it is likely to lead to a denial.

Is the online pre qualification for Amex somewhat reliable? Any insight would be great!

Thanks in advance.

Re: Amex Pre-Qualify

Anonymous — Thu, 26 Mar 2020 21:57:44 GMT

You should be good if you're pre-qualified and especially if your score is above 670, but ppl have qualified with lower scores

Re: Amex Pre-Qualify

M_Smart007 — Thu, 26 Mar 2020 23:19:39 GMT

@SDMarik wrote:
How reliable is the Amex pre-qual?

I have a lot of travel coming up over the next couple of years, the Amex Platinum card is very attractive.

Right now my Experian Fico8 is sitting at 707.

I have 8% utlization
No inquries in the past 2 years
Nothing in collections
No foreclosures, judgements, etc.
Everythng on my credit report is "good" to "exceptional" except for my payment history. That is "fair" at 98%

However, I do have a late payment (30 days) about 8 months ago on a joint retail account.

I really do not want to take the inquiry if it is likely to lead to a denial.

Is the online pre qualification for Amex somewhat reliable? Any insight would be great!

Thanks in advance.

Hi @SDMarik and Welcome to the forums.

Does the Amex Pre-Qual site give you "Expand your membership with us"?

or does it say that you are Pre-Qualified with a solid APR and not a range of APR's?

Chances are good if it gives you one solid APR ..IMHO ..YMMV

If you get this, probably not a good sign.. (I am maxed out on American Express)

Re: Amex Pre-Qualify

SDMarik — Thu, 26 Mar 2020 23:21:28 GMT

It says "SDMarik, check out this pre-qualified offer, even better the card you've matched with has exceptional perks, so don't wait"

The platinum card obviously doesn't have an APR range, but the other one did give a range, not an exact rate.

Re: Amex Pre-Qualify

M_Smart007 — Thu, 26 Mar 2020 23:27:35 GMT

@SDMarik wrote:
It says "SDMarik, check out this pre-qualified offer, even better the card you've matched with has exceptional perks, so don't wait"

The platinum card obviously doesn't have an APR range, but the other one did give a range, not an exact rate.

It does not sound like a solid offer, and I do not want to stear you the wrong way.

Will let some others give you advice.

Re: Amex Pre-Qualify

Brian_Earl_Spilner — Thu, 26 Mar 2020 23:42:48 GMT

Supposedly it's solid. I never had a prequal or pre-approval. First card was a Delta gold with a 641 EX8. 7 lates, 30s and 60s about 2 1/2 years old. 7 collections and 4 chargeoffs.

My next 2 cards were approved 15 months later with a 627 EX8 due to a timing miscalculation with my utilization. Still had 3 collections. Utilization was showing over 80% from Christmas because they used a 2 month old score.

I should also mention that I burned them 20 years ago for $11k and never paid them back.

Re: Amex Pre-Qualify

Anonymous — Fri, 27 Mar 2020 02:37:56 GMT

@SDMarik wrote:
How reliable is the Amex pre-qual?

I have a lot of travel coming up over the next couple of years, the Amex Platinum card is very attractive.

Right now my Experian Fico8 is sitting at 707.

I have 8% utlization
No inquries in the past 2 years
Nothing in collections
No foreclosures, judgements, etc.
Everythng on my credit report is "good" to "exceptional" except for my payment history. That is "fair" at 98%

However, I do have a late payment (30 days) about 8 months ago on a joint retail account.

I really do not want to take the inquiry if it is likely to lead to a denial.

Is the online pre qualification for Amex somewhat reliable? Any insight would be great!

Thanks in advance.

Re: Amex Pre-Qualify

addicted_to_credit — Fri, 27 Mar 2020 03:06:37 GMT

@SDMarik wrote:
How reliable is the Amex pre-qual?

I have a lot of travel coming up over the next couple of years, the Amex Platinum card is very attractive.

Right now my Experian Fico8 is sitting at 707.

I have 8% utlization
No inquries in the past 2 years
Nothing in collections
No foreclosures, judgements, etc.
Everythng on my credit report is "good" to "exceptional" except for my payment history. That is "fair" at 98%

However, I do have a late payment (30 days) about 8 months ago on a joint retail account.

I really do not want to take the inquiry if it is likely to lead to a denial.

Is the online pre qualification for Amex somewhat reliable? Any insight would be great!

Thanks in advance.

Are you the primary on the card with the 30 day late? If not I'd get taken off, I have a 30 day late from almost 7 years ago. It has come off of exp and EQ and I've seen a 20-30 point jump this month, I'd think you'd likely see a larger one since it's much more recent..... Just a thought! Good luck with your decision and welcome!

Re: Amex Pre-Qualify

seattletravels — Fri, 27 Mar 2020 11:06:44 GMT

Hey SD! Is this your first Amex? What's the story on the retail account with the late? Are you an AU?

Re: Amex Pre-Qualify

Anonymous — Fri, 27 Mar 2020 10:44:48 GMT

Nothing is 100% guaranteed but generally speaking their prequalified offers are pretty solid so long as nothing has changed since they soft pulled you.

if you’re not a member, you’re going to see the congrats you’re prequalified for this or these offers. The APR will be a range.

If you are a member, you’ll either see a ore approval or expand your membership with us message. Pre approved being more solid than expand your membership but either one can result in an approval.

They pull Experian Fico 8 99% of the time. They pulled Transunion 8 for me but I forgot to unlock my Experian upon applying and they pulled an alternative bureau.

Best of luck with whatever you decide!

Re: Amex Pre-Qualify

seattletravels — Fri, 27 Mar 2020 11:10:37 GMT

@Anonymous wrote:
Nothing is 100% guaranteed but generally speaking their prequalified offers are pretty solid so long as nothing has changed since they soft pulled you.

if you’re not a member, you’re going to see the congrats you’re prequalified for this or these offers. The APR will be a range.

If you are a member, you’ll either see a ore approval or expand your membership with us message. Pre approved being more solid than expand your membership but either one can result in an approval.

They pull Experian Fico 8 99% of the time. They pulled Transunion 8 for me but I forgot to unlock my Experian upon applying and they pulled an alternative bureau.

Best of luck with whatever you decide!

This is why I was asking if this would be your first Amex. The language is different depending on whether you have an existing relationship. If you don't and you're seeing prequalified language, you should be good to go.