topic Re: I got a pre-approval for American Express Green in Credit Cards

I got a pre-approval for American Express Green

slickwidit — Fri, 19 Aug 2022 22:50:34 GMT

Hi everyone,

It's been a while. I seems I'm finally off of the Amex black list after 8 years. I'm showing that I'm pre-approved for the green card but I really don't need that card. I have 2 questions: 1) is there an equivalent card to the green card (like the everday card)? 2.) Should I wait to see if I can get the gold or platinum (in other words, is it going to be a crawl before you run type of situation)?

I'm really stoked because I've gotten a big promotion and I will be travelling at least 4 time annually now and need Amex in my life now. I've been using Navy flagship but I have my mind set on Amex Platinum and don't know what's my best path? Probably because I never thought I'd get off the black list.

Data points:

BK7 2013

current utility 35% (currently going through a divorce no biggie, this will go back to under 10% in the next 30 days).

Current fico 735.

2 inq in last 24 months.

in insights will be greatly appreciated as normal

Re: I got a pre-approval for American Express Green

OmarGB9 — Sat, 20 Aug 2022 01:47:58 GMT

Just a heads up, getting a pre approval doesn't necessarily mean you're off the blacklist. Only by continuing with the application will you find that out. If they deny you right away with no hard pull, you're still blacklisted. However, if they DO pull your credit (and still deny you, but for credit-related reasons), then you ARE off the blacklist. The prequal doesn't take into account the blacklist.

Re: I got a pre-approval for American Express Green

coldfusion — Sat, 20 Aug 2022 02:03:15 GMT

Preapprovals are never a 100% guarantee of an impending approval if one applies and the length of time one remains on the AMEX blocklist is a YMMV if they were IIB in a BK7, but people who are 8 years out from having burned AMEX in a BK7 can and do get approvals.

I would not do anything until you do get that utilization down and have confirmed that the change is reflected in your credit report. You can still got to annualcreditreport.com and pull free copies of your reports weekly.

I would suggest that you plan on applying for the Platinum if that's the card you really want as in a broad sense the underwriting for AMEX charge cards including the Platinum isn't overly strict and while your having previously burned AMEX complicates your specific senario an Experian FICO 8 score of 735 under normal circumstances is well within the range of scores where odds of approval are good. If you apply and get an immediate hard pull that's an indicator that you are indeed no longer on the blocklist regardless of the outcome of the application; blocklisted applicants are immediately denied without any inquiries being made.

Re: I got a pre-approval for American Express Green

Remedios — Sat, 20 Aug 2022 02:49:07 GMT

If you included Amex in your BK, pre-approval is pointless. As stated upthread, you will need to apply to find out if you are off BL.

Now to less pleasant part, because you burned them, even if approved, Amex is going to go with relatively short leash so I wouldn't be putting my travel eggs in that basked unless you're willing to pre-pay often, have a very limited spending ability, and be notified often it's time to pay.

Also, 30% is a big deal, especially on a profile with BK, so if you are contemplating applying, make sure that no big deal is gone.

Re: I got a pre-approval for American Express Green

drboxing — Sat, 20 Aug 2022 17:33:47 GMT

give it a shot, I was on the blacklist for 10 years, finally was preapproved for a card, applied and was approved.

Re: I got a pre-approval for American Express Green

slickwidit — Sat, 20 Aug 2022 18:03:06 GMT

Thanks everyone, I'll wait about 30-60 days and see what happens. I got some great info from these replies.

Re: I got a pre-approval for American Express Green

GatorGuy — Sat, 20 Aug 2022 18:23:13 GMT

You have some great advice above about a pre-approval not meaning all that much with a BK.

To your original question, their charge cards are usually easier to get approved for than their credit cards since they require payment every month. As already mentioned, the Platinum can be easier to get than the Green card. So if it could fit in with your spending it might the best to apply for. Otherwise I would recommend sticking to the Green.

Re: I got a pre-approval for American Express Green

ptatohed — Mon, 22 Aug 2022 08:37:44 GMT

$150 AF to get 3% in rest's, transit, and travel? You'd have to spend $5,000/yr in those 3 categories alone just to break even versus a solid 2% CB card. And that isn't even counting the 2% over the 1% you'd get in 'other' categories. And it isn't considering any first year intro bonuses found on many 2% cards. And it isn't considering the 5% you could get in some/most of those categories several times per year with a no AF rotator(s). I'm struggling to see this penciling out. But it's probably just me - I am allergic to AFs, lol.

Re: I got a pre-approval for American Express Green

OmarGB9 — Mon, 22 Aug 2022 13:45:55 GMT

@ptatohed wrote:
$150 AF to get 3% in rest's, transit, and travel? You'd have to spend $5,000/yr in those 3 categories alone just to break even versus a solid 2% CB card. And that isn't even counting the 2% over the 1% you'd get in 'other' categories. And it isn't considering any first year intro bonuses found on many 2% cards. And it isn't considering the 5% you could get in some/most of those categories several times per year with a no AF rotator(s). I'm struggling to see this penciling out. But it's probably just me - I am allergic to AFs, lol.

Some people don't mind the AFs. If their spend aligns with the card's higher earnings rates, and if they prefer the card network/customer service/benefits and/or don't want to have to juggle or switch between multiple cards, they don't necessarily have to switch cards.

Re: I got a pre-approval for American Express Green

slickwidit — Tue, 23 Aug 2022 21:04:11 GMT

@ptatohed wrote:
$150 AF to get 3% in rest's, transit, and travel? You'd have to spend $5,000/yr in those 3 categories alone just to break even versus a solid 2% CB card. And that isn't even counting the 2% over the 1% you'd get in 'other' categories. And it isn't considering any first year intro bonuses found on many 2% cards. And it isn't considering the 5% you could get in some/most of those categories several times per year with a no AF rotator(s). I'm struggling to see this penciling out. But it's probably just me - I am allergic to AFs, lol.

The plantinum card will pay for itself as I travel at least 3 times a year for work and I've started to take 2 vacation trips internationally (when not affected by covid). The perks of the platinum would pay for the AF of 695 easily for me.

200 plane credit

200 hotel credit

189 clear credit

240 digital credit - pays 20 monthly

155 walmart+ pays 12.95 monthy

I've also starting using uber eats so that $200/20 monthly will also get used.

global entry.

My penfed powercash is one of my main drivers for about 2 or 3 years now with my discoverIT. Also I'm boycotting styncrony lol. Trust me, I've been dodging AFs since BK; but now I'm looking for benefits and matching cards with what matches my life style. I don't want the green, I really want the platinum.

Re: I got a pre-approval for American Express Green

Anonymous — Tue, 23 Aug 2022 21:09:40 GMT

@OmarGB9 wrote:
@ptatohed wrote:
$150 AF to get 3% in rest's, transit, and travel? You'd have to spend $5,000/yr in those 3 categories alone just to break even versus a solid 2% CB card. And that isn't even counting the 2% over the 1% you'd get in 'other' categories. And it isn't considering any first year intro bonuses found on many 2% cards. And it isn't considering the 5% you could get in some/most of those categories several times per year with a no AF rotator(s). I'm struggling to see this penciling out. But it's probably just me - I am allergic to AFs, lol.

Some people don't mind the AFs. If their spend aligns with the card's higher earnings rates, and if they prefer the card network/customer service/benefits and/or don't want to have to juggle or switch between multiple cards, they don't necessarily have to switch cards.

The other thing is that it's not 3%, it's 3MRs, which, if redeemed well can be worth much more.

Re: I got a pre-approval for American Express Green

wasCB14 — Tue, 23 Aug 2022 21:15:50 GMT

@slickwidit wrote:
I've also starting using uber eats so that $200/20 monthly will also get used.

It's supposed to be $35 in December and $15 other months.

Though lately I'm getting $30 or $40 per month in Uber cash when I should be getting $25 (one personal Gold and one personal Schwab Platinum). I think I still get credits from when the personal Gold was a non-Schwab Platinum.

Re: I got a pre-approval for American Express Green

slickwidit — Tue, 23 Aug 2022 21:24:40 GMT

@Anonymous I agree. The MRs seem to be at least 7% on the low side if you look at it from cash perpective. This I'm well aware of.

Re: I got a pre-approval for American Express Green

slickwidit — Tue, 23 Aug 2022 21:26:50 GMT

@wasCB14 wrote:
@slickwidit wrote:
I've also starting using uber eats so that $200/20 monthly will also get used.
It's supposed to be $35 in December and $15 other months.

Though lately I'm getting $30 or $40 per month in Uber cash when I should be getting $25 (one personal Gold and one personal Schwab Platinum). I think I still get credits from when the personal Gold was a non-Schwab Platinum.

The uber perk is available on both platinum and gold. Maybe they've made a change to allow more than the $20 plat and $10 gold?

Re: I got a pre-approval for American Express Green

wasCB14 — Tue, 23 Aug 2022 21:41:28 GMT

@slickwidit wrote:
@wasCB14 wrote:
@slickwidit wrote:
I've also starting using uber eats so that $200/20 monthly will also get used.
It's supposed to be $35 in December and $15 other months.

Though lately I'm getting $30 or $40 per month in Uber cash when I should be getting $25 (one personal Gold and one personal Schwab Platinum). I think I still get credits from when the personal Gold was a non-Schwab Platinum.
The uber perk is available on both platinum and gold. Maybe they've made a change to allow more than the $20 plat and $10 gold?

It started as $15+$15=$30. Then I PCed from Platinum to Gold. It should have gone to $25 but remained $30. December was $70. Then I got a random mid-month $10 added at some point. Since then it's been $40. So I think it's the intended $25 for a Gold and Platinum plus $15 for a zombie Platinum.

I don't know where you're getting this idea of a $20 credit though.

Re: I got a pre-approval for American Express Green

Brian_Earl_Spilner — Tue, 23 Aug 2022 21:54:41 GMT

@slickwidit wrote:
@Anonymous I agree. The MRs seem to be at least 7% on the low side if you look at it from cash perpective. This I'm well aware of.

Not sure where you got 7% from. As a cash out they're worth $0.006. using things like Amex travel will get you to 1 cpp. The value is in the transfer partners. If you know how to move points you could get to 3-4 cpp. 7 cpp is extremely rare.

Re: I got a pre-approval for American Express Green

wasCB14 — Tue, 23 Aug 2022 22:00:42 GMT

@Brian_Earl_Spilner wrote:
@slickwidit wrote:
@Anonymous I agree. The MRs seem to be at least 7% on the low side if you look at it from cash perpective. This I'm well aware of.
Not sure where you got 7% from. As a cash out they're worth $0.006. using things like Amex travel will get you to 1 cpp. The value is in the transfer partners. If you know how to move points you could get to 3-4 cpp. 7 cpp is extremely rare.

I took it to mean 3 MRs (Green bonus category spend) * 2.33 cpp = 7 cents.

Re: I got a pre-approval for American Express Green

Brian_Earl_Spilner — Wed, 24 Aug 2022 02:17:31 GMT

@wasCB14 wrote:
@Brian_Earl_Spilner wrote:
@slickwidit wrote:
@Anonymous I agree. The MRs seem to be at least 7% on the low side if you look at it from cash perpective. This I'm well aware of.
Not sure where you got 7% from. As a cash out they're worth $0.006. using things like Amex travel will get you to 1 cpp. The value is in the transfer partners. If you know how to move points you could get to 3-4 cpp. 7 cpp is extremely rare.
I took it to mean 3 MRs (Green bonus category spend) * 2.33 cpp = 7 cents.

Sorry, where are you getting 2.33 cpp? The default cash value of an MR is 0.006. Even with bonus category, that only comes to 1.6 cpp.

Re: I got a pre-approval for American Express Green

wasCB14 — Wed, 24 Aug 2022 03:51:12 GMT

@Brian_Earl_Spilner wrote:
@wasCB14 wrote:
@Brian_Earl_Spilner wrote:
@slickwidit wrote:
@Anonymous I agree. The MRs seem to be at least 7% on the low side if you look at it from cash perpective. This I'm well aware of.
Not sure where you got 7% from. As a cash out they're worth $0.006. using things like Amex travel will get you to 1 cpp. The value is in the transfer partners. If you know how to move points you could get to 3-4 cpp. 7 cpp is extremely rare.
I took it to mean 3 MRs (Green bonus category spend) * 2.33 cpp = 7 cents.
Sorry, where are you getting 2.33 cpp? The default cash value of an MR is 0.006. Even with bonus category, that only comes to 1.6 cpp.

I'm assuming OP anticipates getting 2.33 cents per point from transferring to travel partners. The "cash perspective" being cash saved rather than a statement credit.