Re: Amex PRG preapproval questions

Medic981 · ‎10-03-2018

@MrPSS wrote:
I agree, Medic. I think the reason for preapproval all the sudden is because I was recently successful in getting a bogus $147 collection account removed and my EQ score shot up from 625 to 659. So I’m hoping the other bueros follow suit.
How beneficial/ potentially damaging would it be to open the PRG with the goal of establishing a relationship with AMEX and collecting the sub and then applying for a no AF Amex in 61 days? If successful with an approval on a new Amex, I could then cancel the PRG prior to the AF kicking in.

@CCCs really are not happy when customers collect the SUB and then cancel the card to avoid the AF. @CGeorge comments made me remember the Green Card. I would see if you are prequalified for the Green Card. No AF and you would be in with Amex.

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CGeorge · ‎10-03-2018

@Medic981 is correct - you cannot downgrade from the PRG to a card no no AF. Also, what @Medic981 makes sense - the PRG (or Green) must not require a credit score as the revolving cards - because the PRG was my first AMEX card approved. Recently, about two months ago - they offered me a program against that card where I could pay charges over $100.00 over time. And I know they offered that only because my credit score has increased dramatically over the past year. After my successul relationship with them with the PRG, the revolvers soon followed...

MrPSS · ‎10-03-2018

@FinStar wrote:
It really depends on your spend, whether you value MRs, and how you can maximize the PRG as a whole. Not all cards are a fit for everyone. That being said, there's been some recent buzz regarding upcoming changes to PRG.

If it's of interest to you, then you can click on the link below to learn more:

https://ficoforums.myfico.com/t5/Credit-Cards/Amex-PRG-Just-Got-Better/td-p/5362466

Thanks, FinStar! I've heard of these changes... Now I'm trying to understand what the benefit of applying prior to the changes vs after? It seems some people jumped the gun and thought there was some benefit to already having the card prior to the new changes?

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