topic Re: American Express Prequal in Credit Card Applications

American Express Prequal

Shadeestill — Sun, 21 Mar 2021 03:14:54 GMT

I finally (!) got in with AmEx in December. They only gave me 1k SL on the Delta Skymiles card, but it was a foot in the door. I did try for my first CLI last month and was denied.

I was in my account today and clicked on "Check for prequalified offers." I get a pop up for the Gold card with a very nice sub. When I close the pop up, it shows the Blue Cash Preferred, Gold, and Platinum cards as "recommended."

Does this mean I have a decent chance at these cards? I need a good grocery card and the sub on the gold is great. I know that a prequal isn't a guarantee. Is this a soft pull? If so I may go for it. Thoughts?

Re: American Express Prequal

Anonymous — Sun, 21 Mar 2021 03:23:50 GMT

It's a good indicator that Gold would be approved, although not a guarantee as you noted. The three charge cards are believed to have similar underwriting, so Platinum and Green would probably have the same chance of approval. Blue Cash Preferred is a core revolver, which cards have the tightest underwriting standards. In no way does that mean you wouldn't be approved for it but a prequal typically means better odds. They've tightened up in some regards though and because of this, your EX score may not yet be high enough for the BCP.

Since you're a cardmember already, choose Credit Cards, then View All Cards, and scroll down to the horizontal bar showing all the cards. Click on any that interest you and hit Apply. If the screen pops up saying "Shadeestill, you are preapproved" that's a prequal and a good indication you'd be approved. If it says "expanding your membership with us is easy Shadeestill" then you aren't prequalified and applying is a shot in the dark.

A SP is possible at this point, maybe even likely, but a HP is definitely still a possibility as well. Be prepared for either.

Re: American Express Prequal

FinStar — Sun, 21 Mar 2021 03:27:13 GMT

Is the EX score [658] displayed on your signature the most up-to-date? What is the current FICO score display in your AmEx account? Since you've had your AmEx since December, it appears you haven't been with them long enough. What reasons did they provide for your declined CLI request?

My guess is that, if approved, you might get stuck with another low limit, but YEMV. If you don't mind it, then it's up to you. As you're aware, pre-qualifications are not 100% guaranteed and the same applies with SP/HP.

Re: American Express Prequal

Shadeestill — Sun, 21 Mar 2021 03:33:00 GMT

No my EX is up to 685.

I just realized I'm not quite at 90 days with them (about 4 days shy) and I don't want to risk another low limit card. I'll play the patience game and wait until at least June, which will put me at 6 months with them.

Re: American Express Prequal

Ficoproblems247 — Sun, 21 Mar 2021 13:25:47 GMT

@Shadeestill wrote:
No my EX is up to 685.

I just realized I'm not quite at 90 days with them (about 4 days shy) and I don't want to risk another low limit card. I'll play the patience game and wait until at least June, which will put me at 6 months with them.

AMEX will almost always use a previous FICO pull they performed on you. You need to check your FICO score through the AMEX app. I do not believe you are able to check it on their website anymore, (someone correct me if I'm wrong on this) as it only gives you the option to look at your TU VS 3.0. The EX FICO score 8 that they display through your app will give you the date they pulled it. Often times what AMEX is using will be 2-3 weeks behind what is actually displayed. Example: it's the 30th of the month and your updated EX FICO score on the app states it was pulled on the 25th: AMEX is probably using the previous score they pulled still and hasn't updated internally, even though you're seeing a more current score. Or, say it's the 30th of the month, and your score was updated on the 1st: AMEX is likely using the score that's being displayed. It can be confusing, and it's still a YMMV situation. Best thing to do if you're really looking to maximize your chance is to give them a full 2 score updates in a row that you're comfortable with them using for their decision, then pull the trigger. I think you're making the right choice by waiting it out. Good luck on the Gold Card, and keep us posted!

Re: American Express Prequal

4sallypat — Sun, 21 Mar 2021 17:52:39 GMT

@Ficoproblems247 this is good to know - I had no idea AX used old Vantage Score model for your credit score. to pre-qual...

I just checked their AX website and went to their "My Credit Guide" page and the score is 40 - 50 points BELOW any of the FICO 8 scores across the board!

What gives ?

OP: what is your Vantage Score on the AX site ?

Wow, no wonder AX hasn't been sending me pre-qual offers....

Re: American Express Prequal

coldfusion — Sun, 21 Mar 2021 17:53:05 GMT

AMEX never suspended providing FICO scores. If logged in on the website look under Account Services -> Profile -> View FICO Score

Re: American Express Prequal

Ficoproblems247 — Sun, 21 Mar 2021 17:53:31 GMT

@coldfusion wrote:

AMEX never suspended providing FICO scores. If logged in on the website look under Account Services -> Profile -> View FICO Score

@coldfusion Thank you for that info! I had not come across where it had been moved to. Much appreciated.

@4sallypat What I posted before was that AMEX does NOT use your vantage score for credit decisions. I stated to the OP to disregard that score, and ensure they were looking at the FICO score provided to them by AMEX rather than VS provided in credit guide.

Re: American Express Prequal

SouthJamaica — Sun, 21 Mar 2021 16:19:59 GMT

@Shadeestill wrote:
I finally (!) got in with AmEx in December. They only gave me 1k SL on the Delta Skymiles card, but it was a foot in the door. I did try for my first CLI last month and was denied.

I was in my account today and clicked on "Check for prequalified offers." I get a pop up for the Gold card with a very nice sub. When I close the pop up, it shows the Blue Cash Preferred, Gold, and Platinum cards as "recommended."

Does this mean I have a decent chance at these cards? I need a good grocery card and the sub on the gold is great. I know that a prequal isn't a guarantee. Is this a soft pull? If so I may go for it. Thoughts?

Amex prequals are solid.

The ones that are just "recommended" are not prequals.

Re: American Express Prequal

Msjonesclt — Mon, 22 Mar 2021 00:47:23 GMT

This explains my situation. Was declined credit line increase, but scores were over 700 since paying down utilization on a few cards. Checked site and score was 2 months old. Wished I would have checked before requesting cli.

Re: American Express Prequal

summerterrace — Mon, 29 Mar 2021 21:01:08 GMT

I have almost 800 on TU and over 800 on EQ and EX. No new credit cards in 2 years but quite a few inquiries (all 6 months old or more) from a car line where they sent my app out to like 8 banks and a mortgage refinance. Only 4 show on EX which is supposedly what AmEx uses. I never get any prequals on AmEx site. Not sure how accurate it is.

Re: American Express Prequal

bzbigsis — Sat, 10 Apr 2021 18:00:26 GMT

I know this post stopped more than a week ago but I wanted to add a point for the Amex BCP - that my last denial was due to the comments, according to the AMEX agent that I asked to speak to. The person indicated that even though my credit score was in their "Good" range based on the FICO score which another poster gave directions for on the app, that those numbers are for new cards. CLIs will be denied for comments such as "serious delinquency" per the agent (which for me I guess needs to be more than 13 months old to make it disappear as a negative). I pay my balance to zero and have a pretty nice salary. I had no idea that comments (which also appear as the negative factors on experian.com which is what they pull for the FICO8) and on myfico.com. I thought that all scores show 3 positive readings and 3 negative ratings but perhaps there are only a few acceptable negative ratings. I realize the topic reads "prequal" but this seems to also be a CLI post, so please check yours and that may give you an another data point.

Re: American Express Prequal

Mdg1307 — Sat, 10 Apr 2021 19:00:54 GMT

Yesterday I got a preapproval for the platinum card...so I applied and was approved! This is with a 657 EX fico 08.
so it seems like your preapproval and 658 score should get approved

Re: American Express Prequal

Ficoproblems247 — Sat, 10 Apr 2021 19:21:47 GMT

@Mdg1307 wrote:
Yesterday I got a preapproval for the platinum card...so I applied and was approved! This is with a 657 EX fico 08.
so it seems like your preapproval and 658 score should get approved

Every profile is unique and different. You can never base an approval simply on what your score is.