topic Re: AMEX Pre-qualified. in Credit Card Applications

AMEX Pre-qualified.

Czyln — Wed, 28 Oct 2020 18:09:45 GMT

I was pre-qualified at AMEX website, then I completed an app.

Then I received an email stating, "We're excited you've applied for a Card with American Express."

All scores are mid 750s.

Any thoughts on approval chances?

Re: AMEX Pre-qualified.

FinStar — Wed, 28 Oct 2020 18:14:02 GMT

Is the score you provided a FICO score? What does the rest of your profile look like?

Re: AMEX Pre-qualified.

Czyln — Wed, 28 Oct 2020 18:24:16 GMT

Yes these are FICO 8 scores. My utilization is about 18% as I have a business, I tend to take advantage of no interest etc.

Re: AMEX Pre-qualified.

Czyln — Thu, 29 Oct 2020 16:46:17 GMT

Status says pending, but they did check my Experian this morning. Last time I tried with AMEX I was flat out denied no credit check.

Re: AMEX Pre-qualified.

FinStar — Thu, 29 Oct 2020 17:07:29 GMT

You mentioned no credit check in a prior instance, were any AmEx accounts IIB or unpaid/charged-off? If so, how long ago?

Re: AMEX Pre-qualified.

Czyln — Thu, 29 Oct 2020 17:18:21 GMT

CO'd over 7 years ago

Re: AMEX Pre-qualified.

JR_TX — Thu, 29 Oct 2020 17:27:23 GMT

If they HP'd your EX then you're no longer on their blacklist and most likely an approval is on the way! Congrats in advanced then! Oh and did you by any chance CO'd less than $5K?

Re: AMEX Pre-qualified.

FinStar — Thu, 29 Oct 2020 17:34:26 GMT

Ok. So, the positive spin on this would be the HP, which typically translates into no longer being on the 'naughty' list. Just keep checking the application status portal to view the outcome.

Was the AmEx CO paid?

Re: AMEX Pre-qualified.

Czyln — Thu, 29 Oct 2020 18:12:17 GMT

No never paid.

Re: AMEX Pre-qualified.

FinStar — Thu, 29 Oct 2020 19:12:00 GMT

@Czyln wrote:
No never paid.

Just keep a couple things in mind:

▪️If approved, temper your expectations with the SL. Great, if the SL >$1K.

▪️Any potential growth (CLI) on the card may be impeded by your prior (unsatisfactory) AmEx relationship.

Re: AMEX Pre-qualified.

AverageJoesCredit — Thu, 29 Oct 2020 23:23:29 GMT

@Czyln wrote:
No never paid.

that might be problematic. Amex typically forgives a bk eventually but not paying back a charge off can linger even longer. Good luck though

Re: AMEX Pre-qualified.

Red1Blue — Thu, 29 Oct 2020 23:31:18 GMT

@Czyln wrote:
No never paid.

If the amount is some thing you can afford you should look into paying it to Amex. They might give you Optima card and after 12 months you can get regular card.

Re: AMEX Pre-qualified.

Czyln — Fri, 30 Oct 2020 14:44:08 GMT

Approved $2500

Re: AMEX Pre-qualified.

gdale6 — Fri, 30 Oct 2020 14:54:05 GMT

As OP has been approved this thread is closed to futher comment. OP is free to create an approval thread over in approvals if so desired.