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AMEX question

vision_20
Valued Member

AMEX question

Hey guys so I'm thinking over a move with my AMEX account, nothing too strenuous but it causes me to pose a question. I opened the Delta Platinum as my first AMEX in February, I now know there is about a 2 week lag in between when AMEX shows you your updated FICO in your online account and when it's updated in UW for what they use for lending decisions. From delta approval to now my fico has improved from 640 to 660 from overall good account management. Changes that have not yet updated on my credit reports are the personal loan I paid off that had a balance of $4k won't update until the end of the month around the 21st and hopefully the end of this month around the 26th my previous auto loan will close and fall off as I traded in my vehicle March 9th. I say that because my DTI with auto loans included looks a lot higher than it honestly is because it appears I'm carrying 2 car loans as the old and new loans are both on my reports when in reality I'm only carrying 1. Those last 2 updates I'm sure will push me over the 680 mark potentially higher. That can be explained after the fact but its worth considering beforehand. I say all that to ask, would using the prequal tool in my account or using the prequal tool without logging in trigger a hp if I wanted to add the Hilton card or would my score that updates on April 14th with my statement that wont have all the last major changes I'm anticipating between 22-26th of this month still be used as a sp if I applied for a new card on or about 28 April? The hp would work out in my favor I guess I'm trying to see if the process would require an app and a recon or would it automatically trigger a hp if I'm not logged in.

 

The advice is appreciated in advance for anyone who dares to read it all lol Also any card recommendations outside of what I'm talking about is always considered. I have the Delta platinum, I want the BCP and amex gold but don't think its the right time for it. I have a Discover CB and the NFCU Flagship. I love my flagship but i'm seeing the redemption rate is not great so if there's another visa comparison I'd love to hear it.


Message 1 of 5
4 REPLIES 4
KLEXH25
Valued Contributor

Re: AMEX question

I think when you enter your information in the prequal tool, it'll recognize that you're already an AMEX customer, so I don't think the HP will be automatic. I totally understand what you mean though because they'll get the most current picture of your CR with an HP vs SP. I think your options are to wait longer until everything updates officially or call in after approval (or denial) to recon your SL / application. I'm sure you could then request a pull, but I think you could achieve the same thing by just waiting a few more weeks. Is anything currently showing up in your preapprovals?



Message 2 of 5
vision_20
Valued Member

Re: AMEX question

I have the Co-branded cards for preapprovals right now and the green card. I've been pif my delta card since I got it I had no choice but to carry a balance on my other cards (IVF is expensive as $**!) anyway thanks for the feedback I'm in no rush as the trip I was planning on having all of my travel cards by next month looks like it's in jeopardy of being cancelled anyway. 


Message 3 of 5
KJinNC
Valued Contributor

Re: AMEX question

Just to make sure no misunderstanding, Amex has prequalification, and Amex has preapproval. They are two different things. Preapproval is VERY solid, and since you have an Amex card,  you can check it any time you like. The way to check it is by logging in, navigating to the card you want, and clicking Apply. The site will "think" for a few seconds and you will go to the application screen, where you fill in income etc. At the top of that screen, it will say "Yournamehere, you are preapproved!" or "Applying to expand your membership with us is easy, Yournamehere" or "Find out if you're approved in 30 seconds". Not verbatim, something like that. The one you want to see is the first one. If you see "you are preapproved," you have a really really really good chance to be approved if you complete the application. It is SP to check preapproval.

 

If you are preapproved, you can apply through some other method (for example, by checking incognito prequalifications to shop for the best SUB) and you will still have a really really really good chance to be approved. If you are not preapproved, don't waste your time.

 

Prequalification is generally considered pretty solid, but it is not nearly as rock-solid, IMO.

 

As for whether it's SP or HP - it has always been SP for me, but others have said it's sometimes HP, especially if it goes to manual review.

 

As for how to get your latest credit info considered, I don't know, but just try and see if you are preapproved. If not, try again in a week or two. Some people worry that checking for preapproval will draw negative attention and maybe it can in some cases, but I have made very heavy use of preapproval in the last eight months, and have gotten three approvals in 2020, including for by far my highest credit limits. YMMV, good luck!


FICO Resilience Index: 59. Cards: 9/24, 3/12, 1/6. Accounts including loans: 11/24, 4/12, 2/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)


Authorized user / Corporate / Auto loans / Personal loan

Card CLs total $154,600, not counting the AU card. The AU card brings the total to $181,100. In 03/19, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, joined 1987, direct deposit; PenFed, joined 2019; Navy Federal, joined 2020; USAA, joined 2020; Chase Bank, joined 2020. Best: Coastal, worst: NFCU. I have had weird Keystone Kops customer service problems with NFCU several times, despite their reputation here.

Closed but still on reports: American Express Gold, NPSL, 08/19-06/21 | American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 4 of 5
nyuphoto
Regular Contributor

Re: AMEX question


@KJinNC wrote:

Just to make sure no misunderstanding, Amex has prequalification, and Amex has preapproval. They are two different things. Preapproval is VERY solid, and since you have an Amex card,  you can check it any time you like. The way to check it is by logging in, navigating to the card you want, and clicking Apply. The site will "think" for a few seconds and you will go to the application screen, where you fill in income etc. At the top of that screen, it will say "Yournamehere, you are preapproved!" or "Applying to expand your membership with us is easy, Yournamehere" or "Find out if you're approved in 30 seconds". Not verbatim, something like that. The one you want to see is the first one. If you see "you are preapproved," you have a really really really good chance to be approved if you complete the application. It is SP to check preapproval.

 

If you are preapproved, you can apply through some other method (for example, by checking incognito prequalifications to shop for the best SUB) and you will still have a really really really good chance to be approved. If you are not preapproved, don't waste your time.

 

Prequalification is generally considered pretty solid, but it is not nearly as rock-solid, IMO.

 

As for whether it's SP or HP - it has always been SP for me, but others have said it's sometimes HP, especially if it goes to manual review.

 

As for how to get your latest credit info considered, I don't know, but just try and see if you are preapproved. If not, try again in a week or two. Some people worry that checking for preapproval will draw negative attention and maybe it can in some cases, but I have made very heavy use of preapproval in the last eight months, and have gotten three approvals in 2020, including for by far my highest credit limits. YMMV, good luck!


@KJinNC 

have you heard of anyone not getting "you're pre-approved" message and still get approved?

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Anyone can turn their credit around, it only needs Intention, Effort, Direction, Execution, and Vision to see where you want to be.
Message 5 of 5
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