@OmarGB9 wrote:
Not sure how Amex works, but I'm pretty sure I've never once been SP'd by them, and cold apped last week and got approved. Plus I thought the whole point of the HP was to get the most up to date information, just in case anything had changed from the last (possible) SP, whether for better or for worse.
Is that approval for the PRG? And you had no prior AMEX Centurion Bank cards? How long did the approval take?
Yes. First and only Centurion backed Amex card. First Amex card ever actually. Not sure what you mean by how long it took?
@OmarGB9 wrote:
Yes. First and only Centurion backed Amex card. First Amex card ever actually. Not sure what you mean by how long it took?
Did the approval feedback take a matter of seconds (an instapproval), or you got a message that it would be some time period like 7-10 days? How long between when you clicked the final "Apply" button and you received word you were approved?
I thought that's what you were asking. Just wanted to make sure. See I want to say instant approval, however, after submitting my application I got an error on the website, so I wasn't sure my app had even gone though to begin with. So I called the automated status line and checked the online status page and both said approved. This was maybe 10 minutes after hitting submit.
It is quite possible that they did a HP to get the first view of your file. If there were no tracks of prior AMEX SP, then this would have to be the case.
In the case of OP, where a prior app has been done, it is quite likely AMEX is now SP to update their database. I would guess any future apps are going to begin with the latest SP information, which may or may not be done exactly in 7 days when OP expects a score bump. It may take longer to get around to a SP to get updated with better scores. In the mean time, AMEX already has some information on file, so has started an internal scoring of OP's situation. My guess is that if OP apps prior to the next SP after the score bump, it may not be ideal, the older SP information may be used.
The SP as primary information source seems to be the situation for AMEX CLI requests. This is the main reason for waiting after getting a first revolver from AMEX, because the HP that was taken at the time of the app, from another commenter who talked with AMEX, that HP doesn't really update the applicant file. The latest SP is the source for the CLI, which in that other commenter's case was prior to the application HP. That's how AMEX can do an instant analysis; they've already got the information they are going to consider. It is also why it pays to delay requests from AMEX if one's FICO scores are increasing rapidly: the information in AMEX's database needs to catch up with a new SP.
It is also why those with an existing AMEX card can app, and if declined are likely not going to see a HP: AMEX uses the SP on file, makes a quick decision yes or no, and only uses the HP to tag the applicant's file that "new credit has been applied for" if the new card is approved. If the SP on file is not adequate to approve that next card, it is possible AMEX does the HP, still declines the next card, and that is the rare situation where an existing AMEX cardholder apps, gets declined for the new card, and still sees a HP.
Thus, I think there is a heavy reliance on SP information in the AMEX procedures.
