AMEX Everyday Card...when should I try?

[Anonymous]

One of my goal cards for the year is the AMEX Everyday Card.

I recently started my credit (re)building journey in December '18.  After disputing away almost all of my collection derogatory marks, I'm currently sitting in the 620s on my FICO scores with all the credit bureaus.  I usually check the AMEX Prequalify site about once every 10 days to see if I get something, but nothing as of yet.

So my question:  should I just keeping waiting for something to show up in the Prequalify or is there a certain score I need to have and just go full YOLO with the application?

[Anonymous]

Welcome to MyFICO!

Without knowing any specifics of your CR, your still awfully early in your rebuild.

I’ve read that Amex wants around a 700 Fico score before they will even consider approval for any of their “Core” cards. Some cases are different, I’m sure. They pretty reliably pull Experian. I’m sure there are some cases where they pulled another CB. 

IMO, OP, I would wait til you got closer to that mark. 

The underwriting for their Co-branded (Delta Gold, Hilton Honors, etc...) cards is a little more relaxed. I got a DG and HH with a 646EX Fico. No 2 profiles are the same though, so be careful. 

Stay the course with your rebuild for a few more months and check the prequal every month or so. Just MHO. 

Good luck with your rebuild! We’re here to help each other.

[Anonymous]

Thanks for the reply.

Sounds like I'll just be checking the AMEX Prequalify every so often until I hit paydirt.

[Anonymous]

Agreed. Keep checking that prequal site. I started with the Gold, then the spg (got them both with scores in the mid 600s). They wouldn't let me sniff a core revolver until my score was above 700. Of course YMMV and I've seen them approve people with lower scores albeit at the infamous $1,000 SL. Keep an eye on the pre Qual site. Even if you can get in with a cobranded card, at least the second card will be a soft pull. Good luck.

[Anonymous]

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@Anonymous wrote:

Thanks for the reply.

Sounds like I'll just be checking the AMEX Prequalify every so often until I hit paydirt.

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Others will offer more valuable info than I can. I’m brand new to Amex. I just read A LOT. Lol.

You’re doing the right thing asking for guidance.  

[CreditRebuilder2020]

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@Anonymous wrote:

One of my goal cards for the year is the AMEX Everyday Card.

I recently started my credit (re)building journey in December '18.  After disputing away almost all of my collection derogatory marks, I'm currently sitting in the 620s on my FICO scores with all the credit bureaus.  I usually check the AMEX Prequalify site about once every 10 days to see if I get something, but nothing as of yet.

So my question:  should I just keeping waiting for something to show up in the Prequalify or is there a certain score I need to have and just go full YOLO with the application?

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I got my Green card approved with a 637 in my rebuilding process. 

That being said, I think Everyday Card you'll need to boost those scores a bit more. If you feel like taking a chance on the Delta Sky Gold AMEX or the Green Card. Even if you'd rather go towards a lesser AMEX card like the Green (Just to get in the foot in the door), I'd still wait a while before you apply. One for the scores but also just to get a good 6 months, maybe more of a rebuild under your belt. Those on-time monthly payments, extended period of time with low utilization, and other good behavior are just as important as that score. 

[Anonymous]

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@Anonymous wrote:

One of my goal cards for the year is the AMEX Everyday Card.

I recently started my credit (re)building journey in December '18.  After disputing away almost all of my collection derogatory marks, I'm currently sitting in the 620s on my FICO scores with all the credit bureaus.  I usually check the AMEX Prequalify site about once every 10 days to see if I get something, but nothing as of yet.

So my question:  should I just keeping waiting for something to show up in the Prequalify or is there a certain score I need to have and just go full YOLO with the application?

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You should apply for an American Express revolving account when your Experian FICO 8 score is at least 670.  That score is the point where you are no longer considered a sub-prime or "Fair credit" borrower.  Amex is not a sub-prime lender but occasionally they will approve a revolving account with score below 670 if you're trending in an upward direction.  However, you would likely be limited to a $500 or $1,000 starting limit and conditions that are referred to as "credit steps" in these forums, where you aren't eligible for a CLI for 180 days and you can only get a 2X CLI after those 180 days.

So to avoid having any of those limitations placed on a new account, wait until your EX FICO 8 is at least 670.

[AverageJoesCredit]

Agree with Maize on the score though some do eek in at 640+ . Prequals with Amex are nice but not 100% gaurenteed and you dont necessarily need a preapproval to apply or get approved. Ive never gotten one and im doing ok. Good luck 9n your journey

[Vu]

My Experian FICO score from Amex free score is 648 and they denied the application for ED card. I have two cars with them. Platinum and Hilton.