topic Re: Finally Pre-selected for AMEX... What should I do? in Credit Cards

Finally Pre-selected for AMEX... What should I do?

iBkickinit — Fri, 10 Jul 2009 20:30:42 GMT

I check the AMEX and BofA soft-pulls every few months for kicks, never getting any offers. Went on an app spree last september (FICO was just shy of 600 avg.), so I have been waiting until this september for them to roll off before going after a big card. (Fico currently about 710 avg.)

I currently have no collections, 2 30-day lates form 3 years ago. Three secured cards with 200, 200, and 500 limits, all of which will hit one year anniversary in September. I have stayed current on everything since.

I just checked AMEX, and I am now "Pre-Selected" for Gold or Green charge cards for the first time. I have been anxious to start a history with them, even if I dont touch it. I have started being hounded by Lowes for a card, but havent taken it.

I would like to add a Chevron, the Lowes, and go for Alliant or another big CU. any recommendations?

Re: Finally Pre-selected for AMEX... What should I do?

athensguy — Fri, 10 Jul 2009 22:02:44 GMT

I personally intend to stay far away from Amex unless I happen upon the circumstances where a Plat would benefit me. If you go for one, make sure you google search for a link that waives the first annual fee.

Message Edited by athensguy on 07-10-2009 06:02 PM

Re: Finally Pre-selected for AMEX... What should I do?

Anonymous — Fri, 10 Jul 2009 23:00:21 GMT

@iBkickinit wrote:
I check the AMEX and BofA soft-pulls every few months for kicks, never getting any offers. Went on an app spree last september (FICO was just shy of 600 avg.), so I have been waiting until this september for them to roll off before going after a big card. (Fico currently about 710 avg.)

I currently have no collections, 2 30-day lates form 3 years ago. Three secured cards with 200, 200, and 500 limits, all of which will hit one year anniversary in September. I have stayed current on everything since.

I just checked AMEX, and I am now "Pre-Selected" for Gold or Green charge cards for the first time. I have been anxious to start a history with them, even if I dont touch it. I have started being hounded by Lowes for a card, but havent taken it.

I would like to add a Chevron, the Lowes, and go for Alliant or another big CU. any recommendations?

Your scores and derogs will get you declined. AMEX approves high 700's as a general rule. Many, many people who get "pre-selected" on the AMEX site are then declined.

I would NOT advise applying there with the cards you currently have and your credit as outlined, IMO.

Re: Finally Pre-selected for AMEX... What should I do?

iBkickinit — Fri, 10 Jul 2009 23:08:17 GMT

Found the link for the waived annual fee. I dont mind the charge card aspect, as I always PIF all of my cards anyways. Would a line of credit like Blue be nice? yes. But if its smarter to just get established with AMEX.. I'd like to do that. Should I wait until my credit is better and/or pursue other cards first?

Re: Finally Pre-selected for AMEX... What should I do?

iBkickinit — Fri, 10 Jul 2009 23:32:01 GMT

@Anonymous wrote:
@iBkickinit wrote:
I check the AMEX and BofA soft-pulls every few months for kicks, never getting any offers. Went on an app spree last september (FICO was just shy of 600 avg.), so I have been waiting until this september for them to roll off before going after a big card. (Fico currently about 710 avg.)

I currently have no collections, 2 30-day lates form 3 years ago. Three secured cards with 200, 200, and 500 limits, all of which will hit one year anniversary in September. I have stayed current on everything since.

I just checked AMEX, and I am now "Pre-Selected" for Gold or Green charge cards for the first time. I have been anxious to start a history with them, even if I dont touch it. I have started being hounded by Lowes for a card, but havent taken it.

I would like to add a Chevron, the Lowes, and go for Alliant or another big CU. any recommendations?

Your scores and derogs will get you declined. AMEX approves high 700's as a general rule. Many, many people who get "pre-selected" on the AMEX site are then declined.

I would NOT advise applying there with the cards you currently have and your credit as outlined, IMO.

Thanks for the input, I guess I wont be applying for a while. After my Cards hit their birthdays, Ill try Alliant.

Re: Finally Pre-selected for AMEX... What should I do?

Red1Blue — Sat, 11 Jul 2009 00:00:07 GMT

I think it is a computer glitch. Many people are getting that message. When you try to apply for it then it will say upgrade offer. Try it and see what it says to you. I am sure it is a glitch.

Re: Finally Pre-selected for AMEX... What should I do?

iBkickinit — Sat, 11 Jul 2009 00:32:07 GMT

@Red1Blue wrote:
I think it is a computer glitch. Many people are getting that message. When you try to apply for it then it will say upgrade offer. Try it and see what it says to you. I am sure it is a glitch.

It sends me to the application page for the gold card, witht he button "continue to verify" at the bottom. Dont wanna actually apply yet, so thats all the further I have gone.

Re: Finally Pre-selected for AMEX... What should I do?

Red1Blue — Sat, 11 Jul 2009 00:41:32 GMT

@iBkickinit wrote:
It sends me to the application page for the gold card, witht he button "continue to verify" at the bottom. Dont wanna actually apply yet, so thats all the further I have gone.

Looks like it is real in your case. Me and couple of others have seen a pre-approved message and when try to apply it says upgrade. Not sure what it means, I did not want to bother apping for it as I dont need one. May be 6 months from now.

Re: Finally Pre-selected for AMEX... What should I do?

Anonymous — Sat, 11 Jul 2009 14:49:03 GMT

Have a good friend with 787 FICO on TU & EQ (his EX CR is identical). However, he is young (20's) and his file is thin (3 TL's) and his credit is only 3.5 years old.

He has a BoA $10k, Chase $3.5k and CapOne $2k.

He did an Amex "see what you are pre-selected for." He got the "congratulations" and was said to be pre-selected for Gold, Green and 1 other card. He went for the gold. He got immediately denied because various "risk" factors were too high. They hard pulled EX.

Have talked to seveal other people with similar experiences...."pre-selected" but then denied immediately upon apply.

Re: Finally Pre-selected for AMEX... What should I do?

Red1Blue — Sat, 11 Jul 2009 15:51:20 GMT

Preselected and preapproved are two different things. If it says pre-approved then it is real other wise just an invitation to apply.

Re: Finally Pre-selected for AMEX... What should I do?

Anonymous — Sat, 11 Jul 2009 17:08:38 GMT

@Red1Blue wrote:
Preselected and preapproved are two different things. If it says pre-approved then it is real other wise just an invitation to apply.

Yup. And that is what the OP stated, "pre-selected" and why I warned against them applying based upon their CR/FICO disclosures.