AMEX Cash Magnet Prequal pre-app hype post D: UPDATE: APPROVED

[elixerin]

heya friends, i was checking out the amex site a couple days ago and figured i'd check for prequals and gladly enough popped 3 cards(Everyday, Delta blue, and Cash Magnet), hyped enough i figured id hold off until the 7th (when a new disco statement for me generates, explained below) 

Quick rundown of my new history and credit cards you guys could let me know what my odds might be since i know prequals arent guaranteed, $82k income

Age History: 11 mo, Nov 7 marks 12 months Overall age and 5 HQ's passed 12 mo

Cards: Both opened in November 2018 (Disco 11th, CapOne 22nd)

Discover IT ($2000)(Unsecured from $500 back in July) - 13% reporting

Capone Platinum ($300) fully paid and current but closed as of May 2019

No Installment loans, derogs, or "baddies" on the report

Scores : Experian FICO 8 is 689 as of October 13 with 13% reporting, (im thinking the new report come 7th with 1% reporting MIGHT get me into the 700s fingers crossed)

Disco Transunion FICO 8 scorecard is 711

Not sure about Equifax FICO 8 but vantagescore is 707 via CK

Finally, im rocking a staggering 14 HQ's on EXP, 5 of which will pass 12 mo come November as mentioned above (i was very stupid and rushed apps with big names without reading up more here)

watcha guys think? since im prequaled with 13% now what might the 1% coming in a few days do lol, if anything? i was mostly waiting because of the 5 HQ's passing 12 mo and my first year of credit to be established!

All thoughts and insights welcome and appreciated, will be apping on the 8-9th (depending how long exp takes to update new Nov 7th balance report) and posting here.

[Anonymous]

you'll have 9 scorable inqs on experian? that's still a lot, and they do pull experian so they'll see them and it'll look bad on you. i'm not sure how inq sensitive they are. everything else about your profile looks fine so maybe you'll still be approved.

tomorrow i will try for my 3x cli! in 3hrs from now it's midnight and hence tomorrow so maybe i can do it by then

[elixerin]

yup, 9 scorables inqs on EXP unfortunately :l

LMK how the CLI with them goes!

[Anonymous]

i tried for a cli at discover and got a generic error message i guess it's down for maint, then tried at amex and got a message saying they're upgrading the whole site right now. so i'm stuck waiting some more.

[Anonymous]

https://ficoforums.myfico.com/t5/Credit-Cards/Guide-to-common-abbreviations/m-p/88466?search-action-...

It's HP not HQ

Anyway... so, your cards age by the month not the date when it comes to scoring... so, 1st of the month you're already 1 year old on Disco

High INQ's on a new app though can kill your chances of approval // Amex relies on EX on new accounts 

Being that you have 2 new accounts under 1 year // at 1 year and one of them already closed you're down to 1 account and a balance on it to boot.  Even though the INQ's won't be scoreable they'll still be seen on new apps. 

If you have a use for the card i.e. 1.5% cashback and can hit the spend requirements for the bonus then, go ahead and pull the trigger.

https://www.americanexpress.com/us/credit-cards/?category=all  -- open this in incognito mode and you'll either get an offer for $150 or $175 for the bonus.  It was however $250 earlier this year and might chanege again before the year is up. 

When it comes to Amex bonuses it's best to get the highest one offered since you're locked out of getting it again for at least 7 years..  They won't match it if it changes after you apply either.

[elixerin]

thanks for the tips and reply obscure, idk why i was putting hq😂😂 gonna bite on the 8th most likely in incog

[Anonymous]

I wouldn't worry about the date so much as having all of your quackers in a row.

Make sure you have ideal balances and your CR's have updated with the best info possible before you bite.

[elixerin]

you bet, will do. as for the balance report you think $0 balance would be best this upcoming statement or the 1-9% i hear quite often around here for scoring.

thx for replies

[Anonymous]

I would just leave $5 on it... it's enough to count, it won't get erased as a courtesy for being minimal, and still within 1-8.9%.

[elixerin]

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@Anonymous wrote:

i tried for a cli at discover and got a generic error message i guess it's down for maint, then tried at amex and got a message saying they're upgrading the whole site right now. so i'm stuck waiting some more.

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howd it go boss?