topic Re: A few AMEX questions in Credit Cards

A few AMEX questions

Anonymous — Tue, 22 May 2018 00:31:02 GMT

Since I started rebuilding, I've wanted to get an AMEX card but have been denied. Up until yesterday, my highest limit on my credit report was $750, until my Navy Federal card reported with a limit of $5000 on all 3 CRAs.

Here's what's weird... I NEVER pre-qualified for AMEX until today. My FICO 8 scores didn't change at all (635, 636, 643). Did AMEX change their mind on me and decide I'm pre-qualified for a Delta Gold card now that I've got a higher limit card?

Also, it's been roughly 60 days since I've had an denial from them. Is it too early to try again? I've got 4 inquiries on EX if that matters.

Thanks in advance.

Re: A few AMEX questions

Anonymous — Tue, 22 May 2018 02:32:48 GMT

I think AMEX usually approves for this card with scores around 640 (I've read that a lot on here) If it were me, I would wait. The current SUB is only 30K miles, I've seen it 50K miles and $50 statement credit with $2000 spend in 3 months and a 10K miles if another spent in 6 months (my bonus) a few times in the last 6 months. I used it for 2 tickets to Hawaii with miles to spare.

What was the SUB offer you received?

Re: A few AMEX questions

Anonymous — Tue, 22 May 2018 02:43:36 GMT

I was offered 35,000 miles with $1,000 spend in 3 months and a $50 statement credit with a Delta purchase within 3 months.

I went back and looked at it later on a different computer and it offered 50k miles for $3,000 spend. Can't find it again though.

Re: A few AMEX questions

Anonymous — Tue, 22 May 2018 04:50:02 GMT

IMO......I would keep waiting/looking. Most AMEX SUB are once in a life time.

Re: A few AMEX questions

Anonymous — Tue, 22 May 2018 04:50:10 GMT

@Anonymous wrote:
Since I started rebuilding, I've wanted to get an AMEX card but have been denied. Up until yesterday, my highest limit on my credit report was $750, until my Navy Federal card reported with a limit of $5000 on all 3 CRAs.

Here's what's weird... I NEVER pre-qualified for AMEX until today. My FICO 8 scores didn't change at all (635, 636, 643). Did AMEX change their mind on me and decide I'm pre-qualified for a Delta Gold card now that I've got a higher limit card?

Also, it's been roughly 60 days since I've had an denial from them. Is it too early to try again? I've got 4 inquiries on EX if that matters.

Thanks in advance.

I would wait until your scores are north of 680. I apped when my FICO 8 was 692 and barely approved for an SL of 1K. Since you're new to Amex, I would wait until they hit you with a better targeted offer. They usually give big targeted SUBs to new members who they haven't acquired yet. I would say sit tight and wait for those targeted offers where the bonus miles are north of 40K. Then the Gold Skymiles card would probably be worth it. That card is definitely the easiest Amex card to get approved for and it will be nice to get your foot in the door with them. Good luck!

Re: A few AMEX questions

sdsoccerdad — Tue, 22 May 2018 14:14:52 GMT

For sure I'd wait too. My first card from them started at $1000 with a fico of 647. My most recent one with a fico of 720 got me a $8K starting line. I'm just waiting for some 3X cli's to spread some of it around hopefully later this year.

Re: A few AMEX questions

SomewhereIn505 — Tue, 22 May 2018 16:20:28 GMT

Make sure you're also looking at the APR on the pre-qual. If its a solid number or small difference, then you should be good. If it's a large APR - aka 16% to 25%, then its likely a denial.

Re: A few AMEX questions

Anonymous — Tue, 22 May 2018 17:38:04 GMT

It was an APR of 17.24 percent. So it's a solid pre-qual.

The low APR makes it seem to me that it wouldn't be $1000 SL. Any thoughts on that?

Re: A few AMEX questions

PointsBonus — Fri, 25 May 2018 01:07:37 GMT

Looks like you have a SOLID approval in my opinion. But here is what I would recommend. Try to find that the 50,000 Miles !. If you are using chrome, clear out your cache and also go in incognito mode and see if it pops up.

If you do not care about the miles and just want to get your foot in the door with AMEX, just apply. I would also recommend, use the same approval for a PRG card.

Hope this helps.

Re: A few AMEX questions

Anonymous — Wed, 20 Jun 2018 12:50:33 GMT

Currently Rebuilding low 600s what are some things that help you cross over into the 700 range Need Help!!

Re: A few AMEX questions

ChessChik47 — Wed, 20 Jun 2018 13:09:29 GMT

@Anonymous wrote:
Currently Rebuilding low 600s what are some things that help you cross over into the 700 range Need Help!!

Welcome to the forums! I suggest checking out the rebuilding forum, there's loads of information there. In general, work to remove all baddies from your reports, reduce your revolving debt if you have any, ensure that your utilization (per card and overall) is 8.9% or less (paying in full is a much better practice, but can take time if you have debt), and pay on time every month for every debt you have.

Good luck to you!

Re: A few AMEX questions

Anonymous — Wed, 20 Jun 2018 17:49:27 GMT

Ditto on waiting till your score improves a bit just to improve your chances. Also, do you fly Delta a lot? If not, you may consider the PRG instead, as the MR points are a tad more universal than Delta Miles. Plus the $100 credit offsets the higher AF.

Re: A few AMEX questions

K-in-Boston — Wed, 20 Jun 2018 17:57:13 GMT

I would also suggest investigating whether PRG (or possibly Platinum) may be a better fit for your spend and travel. The Delta does give some perks those cards don't if you do fly Delta, though, and can more than pay for itself. I think an approval is likely, but it could easily be a $1,000 starting line that would make meeting the signup bonus more difficult than a higher credit line. Amex offers elevated bonuses very often on the Delta cards, so I would also suggest waiting until you can earn the 50,000 or 60,000 miles instead. 60,000 alone is enough for many roundtrips from the US to Europe in Main Cabin.