Amex Platinum

[villemiami]

Please look at the cards I have below. The last time I applied for a credit card was for the Air France one on 11/30/20. I would like to apply for the Amex Platinum. I never applied for a card with an AF superior to $100, and my retirement is only $26,000 per year. Do you think that I could apply successfully to the Amex Platinum? If yes, when could I start the application? Is it too early to apply now?

I also have the Hilton Honors Surpass Amex card. Before I apply, is it better to purchase more with my Hilton card than with my Air France because it's Amex, so it would give me more chance to be approved for the Amex Platinum?

[coldfusion]

Follow this link and see if you can get a preapproval.

https://www.americanexpress.com/us/credit-cards/check-for-offers/

Keep in mind that American Express may be hesitant to approve the Platinum card when just the AF is more than 2% of your gross yearly income.

[villemiami]

I see the Amex Platinum in the link you gave me. What is a preapproval?

[Anonymous]

Does it say "villemiami, you are preapproved!"? If so it's a pretty solid indicator that you'll be approved for the card.

[villemiami]

I didn't try yet, I wanted to know what a preapproval is. I'm also waiting around 2 months before applying because I'll buy a house at this time, so I will need to buy furniture, and it will be easier and faster to spend $5000 in 6 months.

[Anonymous]

Preapproval just means that based on what they know of you, you look like a solid candidate for the card and getting it shouldn't be much more than a formality. If you're buying a house, definitely don't app for it until keys are in hand and the mortgage is funded. As an existing cardmember it'll probably be a SP but a HP is always a possibility.

[coldfusion]

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@Anonymous wrote:

Preapproval just means that based on what they know of you, you look like a solid candidate for the card and getting it shouldn't be much more than a formality. If you're buying a house, definitely don't app for it until keys are in hand and the mortgage is funded. As an existing cardmember it'll probably be a SP but a HP is always a possibility.

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Exactly.

They will perform a soft pull of your Experian credit report and based on the information they have calculate your probability of approval; if that probablity goes above a certain threshold (80%? 90%? odds of approval - actual figure is unknown)  they will preapprove you.   Part of that process is to inform you and have your confirm understanding that the process is not an application for credit (i.e. you aren't giving approval for them to perform a hard pull).

You can still get approved even if you don't get a preapproval but the odds of success aren't as good.

Preapproval doesn't weight in every factor.  For example it's possible to get a preapproval if you exited bankruptcy less than 61 months ago but it's a virtual lock that you would get a policy-based denial for credit.

[villemiami]

Can I do the preapproval now, and if I'm approved, wait 2 months to be ready to make big purchases, then do it again to the end to be approved?

[BlackOpzFX]

The pre-approval is a soft-pull. You can do it whenever you want. Just check before you apply. Check now just to see. Just LOGIN to your Amex account then "Apply" for cards - The screen will either say "pre-approved" or "expand membership". If It says "pre-approved" you're almost guaranteed to get approved instantly. Press [BACK] and check other cards.

[villemiami]

You have been completely wrong :-( I used the link you gave me and I saw the message "you've been approved!
Your Card is expected to arrive by Tuesday, April 13th".

With this new card, I don't need my Hilton Honors Surpass then, so I'm going to cancel it so they refund me the annual fee.