AMEX Pre-qualified Offers

[difringe]

Had a couple of questions about this...so I'm now an AMEX member.  When I log in, I can see cards that I'm pre-qualified for.  As I'm currently gardening, was wondering...1. If you apply for one of those cards that you're pre-qualified for, is it a SP regardless of whether you're approved or not? 2. If you get approved, does that card still count towards Chase's 5/24 despite it being a SP and not a HP?

I've got my eyes on the Freedom Unlimited to get that 3% cash back offer, but I've got to let my accounts age for a bit and I'm at 4/24.  If the AMEX will put me at 5/24, then I'll just wait until after I've gone for the CFU.  Thanks!

[Anonymous]

YES / YES

A CARD OPENED counts towards 5/24.

[Anonymous]

If you're pre-approved for an Amex card its likely you will get final approval unless the info in your Experian credit file has changed significantly.  And more often than not, it will be a soft pull.

The 5/24 rule is based on the number of revolving credit accounts opened in the past 24 months so Amex cards will count once they report to the credit bureaus two months after approval.

[difringe]

Thank you both for the clarifications!

[pinkandgrey]

1. There are no guarantees, but it most likely would be a SP regardless of whether approved or denied

2. Yes, a new account will count toward 5/24. If you want a Chase card, I wouldn’t app for anything else until well after GETTING said card

Good luck!

[TheAuthorizedUser]

All the advice is accurate also since you are a Chase Member you can see the pre-qual which may bypass 5/24 but your best option is getting the Chase card first then pull the trigger on an AMEX..

[Natedowg2000]

To your first question (I was just fighting with AMEX over this issue) if you're already an amex customer with a CC then they will do a SP to pre-approve you (yes it's stupid they say you're already pre approved I had the same thing) if the SP is within their parameters they do a HP to verify there are no major changes (this is only if you're approved with the SP).

WARNING RAGE BELOW
To anyone who doubts my above answer. know it is true because I was pre-approved for the Delta Reserve (personal) and I applied because I'm booking a $17k vacation which will go on the card and paid off the same week. Well over the last time AMEX did their 30 day SP I had a credit utilization of 89% until I got reimbursed from my company. Well they check the soft pull and deny me because aparently my credit is 643. Well that's as of may 18th my credit is back up to 729 and now I need to wait to reapply because they REFUSED to do a HP on me (I mean seriously you're going to not do a HP when the damm customer is asking you to do one!!!?) Also the extream jump just from the change in utilization is due to a short credit history.

I dont know about you're second question.

[Anonymous]

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@Natedowg2000 wrote:
To your first question (I was just fighting with AMEX over this issue) if you're already an amex customer with a CC then they will do a SP to pre-approve you (yes it's stupid they say you're already pre approved I had the same thing) if the SP is within their parameters they do a HP to verify there are no major changes (this is only if you're approved with the SP).

WARNING RAGE BELOW
To anyone who doubts my above answer. know it is true because I was pre-approved for the Delta Reserve (personal) and I applied because I'm booking a $17k vacation which will go on the card and paid off the same week. Well over the last time AMEX did their 30 day SP I had a credit utilization of 89% until I got reimbursed from my company. Well they check the soft pull and deny me because aparently my credit is 643. Well that's as of may 18th my credit is back up to 729 and now I need to wait to reapply because they REFUSED to do a HP on me (I mean seriously you're going to not do a HP when the damm customer is asking you to do one!!!?) Also the extream jump just from the change in utilization is due to a short credit history.

I dont know about you're second question.

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For the denial i would pester them and escalate as necessary due to the sharp change in your profile.  They're usually pretty good at overturning a denial with that big of a change.  Otherwise wait it out for a month at least and go for it again.  

[Anonymous]

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@Natedowg2000 wrote:
To your first question (I was just fighting with AMEX over this issue) if you're already an amex customer with a CC then they will do a SP to pre-approve you (yes it's stupid they say you're already pre approved I had the same thing) if the SP is within their parameters they do a HP to verify there are no major changes (this is only if you're approved with the SP).

WARNING RAGE BELOW
To anyone who doubts my above answer. know it is true because I was pre-approved for the Delta Reserve (personal) and I applied because I'm booking a $17k vacation which will go on the card and paid off the same week. Well over the last time AMEX did their 30 day SP I had a credit utilization of 89% until I got reimbursed from my company. Well they check the soft pull and deny me because aparently my credit is 643. Well that's as of may 18th my credit is back up to 729 and now I need to wait to reapply because they REFUSED to do a HP on me (I mean seriously you're going to not do a HP when the damm customer is asking you to do one!!!?) Also the extream jump just from the change in utilization is due to a short credit history.

I dont know about you're second question.

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I hate to be the fly in the ointment, but I got an AMEX Delta Gold Skymiles back in January and I was recently approved (a few days ago) for an AMEX Delta Platinum Skymiles (after I had gotten a pre-approval on the AMEX website), and it was based on a SP. I never received an HP from AMEX "to verify there are no major changes."

[Anonymous]

Agreed with felipestrong - my first Amex cards were approved in November on the same HP. Every subsequent card (three of them) have been SP (or no-pull) approvals, and I was preapproved for each. HP is always a possibility but the overwhelming majority of customers receive no HP beyond the one for their first Amex card.