Amex Pre-Quals

[Anonymous]

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@Anonymous wrote:

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@Meanmchine wrote:

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@Anonymous wrote:

After the staggering generosity of Discover with my initial SL earlier in the week I'm pretty sure I used up my luck for the year, but I do keep an eye on other pre-quals. 

Has anyone ever seen Amex Prequals list an acutal credit limit? I checked it this morning and they're still listing the Basic Everyday, the BCE, and Gold Delta, but both the Everday and BCE now list "with a credit limit upto 2,000". I checked it a couple of times earlier in the week, but this is the first time I've seen anything like that for any prequal for any lender. 

Glad I didn't pull the trigger earlier in the week. 

Also, it's the only pre-qual application that includes the option to include non-taxable income. 

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That sounds more like Credit One or First Premire than Amex

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I was just going to say the same thing. You would think the sharks are the only ones that are advertising an amount, as if you're desperate for a CL.

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Amex knows that there are many people who don’t like getting low-balled on a CC. I called and canceled my BCE app last year when they gave me a $1K approval since I went to Disco immediately after and scored a $7500 approval. It makes sense that they would put some verbiage in that suggests a higher limit for people who are more borderline with them. 

[Wrigley2172]

Could also be because they are thin file friendly and want to give applicants realistic ideas about their limits? But im sure theyre related if their actual reasons are close to these

[Anonymous]

I’m hoping we are about to see less $1K approvals that can be stuck there for ages.

[Anonymous]

Is 1K-2K a common initial SL for Amex? 

[Brian_Earl_Spilner]

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@Anonymous wrote:

Is 1K-2K a common initial SL for Amex? 

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500-1k is the common for low scores. Any limit above that is usually a good starting limit that grows normally.

I'm wondering how many times you guys check for prequals, as well. It may be that you guys have checked so many times that they decided to put some bait on the hook.

[Anonymous]

I never checked it until last week, but I checked it quite a bit. Only time I've seen the stated limits have been late at night. (EST)

[thornback]

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@Brian_Earl_Spilner wrote:

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500-1k is the common for low scores. Any limit above that is usually a good starting limit that grows normally.

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Just wanted to add that it's common for not just low scores, but also high scores on very thin files / little to no revolving credit history; and / or low income with high DTI. 

I was first approved for the BCE  at a $500  SL with a 763 EX FICO 8.    I had no revolving credit history -- just an AU, a 5yr old paid CO, and a bunch of student loans -- and I was only working part-time at the time so my DTI (on paper) was quite high.    I also received the 'credit steps' email after approval --but they never auto increased me even though I followed all the "rules."   And, they would not grant a CLI upon request until a full year later when I went back to work full-time and updated my income.   So, at the 1 year mark increased to $1500 (with the paid CO still present),  I PC'd to the Magnet bc category spend wasn't working for me...  then, just last month, increased o $4500.   Would I sill be sitting at $500 today with a 100% clean report had I not increased my income? -- probably because my student loan debt hasn't gone anywhere... 

[Anonymous]

Anecdotal, but as a rebuilder with numbers in the mid 600s, I was just approved for the delta gold amex and did not see a SL prior to applying, though I was listed as prequalified. I think I barely made it though, since my SL was only 1K. Hopefully that'll grow.

[delaney1]

I’ve never looked to see what Amex would offer me before, so yesterday afternoon I checked prequals with EX of 750. It said up to 12K for my offers.

[Wrigley2172]

The cobranded cards such as the delta card seem to have different UW than the core AMEX cards. I think the "up to" limit may be a combination of things previously talked about in the thread: number of prequals, file history, expectations for limits ect. If only we had an amex employee on the forums lol