Amex Prequal fail

[8bitmachinegun]

So I already have a recently acquired Blue Cash Everyday, but I decided to try Amex’s prequalification tool. It recommended the Gold, Platinum and Blue Cash Preferred. I thought Ok, I’ll try for the revolver since I am anticipating some hefty home repair bills in the near future.

But I got a message saying that we’re sorry but we cant’t approve an Amex card for you right now. I also got an email with a link to the application status which doesn’t say denied, but rather “Cancelled.”

So I can think of a few reasons why this happened:

1) I already have the BCE, which may be mutually exclusive with the BCP. (If so, why did the tool suggest it?)

2) Too many recent HPs. (As I mentioned, I’m looking at a lot of home repairs.)

3) Too soon after getting BCE/still in intro period.

Any thoughts on this?

[Anonymous]

If the app was canceled, that implies that some internal policy of Amex wasn’t met. How long have you had your BCE?

[8bitmachinegun]

Not quite a month. I thought you could apply for up to 2 revolvers in a 90 day period.

[Remedios]

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@8bitmachinegun wrote:
Not quite a month. I thought you could apply for up to 2 revolvers in a 90 day period.

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You can, if profile supports it. You included them in BK, they gave you a great approval, so give them some breathing room. 

Also, EX is not the only CRA they will peek at. SPs on TU are also fairly common occurrence. You need to give it some time. 

[8bitmachinegun]

Actually I didn’t burn them in my BK7. But point taken. I’m just wondering what ‘canceled’ means as opposed to ‘denied.’

[Remedios]

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@8bitmachinegun wrote:
Actually I didn’t burn them in my BK7. But point taken. I’m just wondering what ‘canceled’ means as opposed to ‘denied.’

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It means they were nice, did not do a HP then denial. It's too soon. You will see it in your account when you have true pre-approvals from them. 

As far as BK, you stated you "had to let it go", so was the card paid when it was closed? If it was, then there are no grudges to be held. 

[Anonymous]

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@8bitmachinegun wrote:
So I already have a recently acquired Blue Cash Everyday, but I decided to try Amex’s prequalification tool. It recommended the Gold, Platinum and Blue Cash Preferred. I thought Ok, I’ll try for the revolver since I am anticipating some hefty home repair bills in the near future.

But I got a message saying that we’re sorry but we cant’t approve an Amex card for you right now. I also got an email with a link to the application status which doesn’t say denied, but rather “Cancelled.”

So I can think of a few reasons why this happened:

1) I already have the BCE, which may be mutually exclusive with the BCP. (If so, why did the tool suggest it?)

2) Too many recent HPs. (As I mentioned, I’m looking at a lot of home repairs.)

3) Too soon after getting BCE/still in intro period.

Any thoughts on this?

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you and i both got our amex bce cards at the same time, you'll probably be able to get preapproved for another amex in a few months.

basically what you want to do is log into your amex account and then go to their pre-approval page and click the apply button. if you see a message saying "you are pre-approved" then you're good to go. if the message says "expanding membership is easy" then it means you should wait.

[8bitmachinegun]

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@Anonymous wrote:you and i both got our amex bce cards at the same time, you'll probably be able to get preapproved for another amex in a few months. basically what you want to do is log into your amex account and then go to their pre-approval page and click the apply button. if you see a message saying "you are pre-approved" then you're good to go. if the message says "expanding membership is easy" then it means you should wait.

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Thanks for the pointers, but I think I may be seeing something different, or maybe going to the wrong place. After logging in, if I go to the menu bar and select Cards/Personal Cards/Check for Pre-qualified Card Offers I get three results. None of them say "Pre-approved" or "Expanding membership...", but instead have a blue "Apply" button. How are you getting to the pre-approval page?

EDIT: OK, I get it now. If I click on the Apply Now button, I get the message about "Expanding...". Tried a few different cards at random (without going through the whole approval process) and got "Expanding..." on each one. It doesn't feel very expansive to me, lol.

[Anonymous]

Ditto^

I'd also mention that since you're lokking into hoime repairs, maybe you should reseach a card that has the appropriate category for your spend. The BCP doesn't really sound like it would be optimal for that, as its highest category is Grocery.

Maybe look into the Lowe's card, they run pretty decent promos on purchase thresholds. Or even the Amzon BIZ if you do a lot of shopping there.

[8bitmachinegun]

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@Anonymous  That's a good point, but I'd likely not be doing the repairs myself but instead hiring a general contractor or various tradesmen to do the work. Would a Lowe's card give cash back on Dave's Plumbing and Roofing?