Amex Prequalified Offers - Should I go for it??

[Anonymous]

Hey guys,

  My scores are finally reporting in the 700+ range, but I'm not sure what my Experian looks like since I canceled MyFico and don't really want to subscribe again just to find out.  Last I checked it was lower than the other two.  I know Amex tends to pull from Experian, however.

For the VERY FIRST TIME, I have a prequalified offer from them showing up!  I can't even get prequalified from Cap1 (even though I have two cards with them in great standing - I tried a CLI on my three month old card but got denied, but I'm 99% sure they were using an old score to base that on.)

The Amex Everyday card is the one I'd like to apply for (although I'm also being offered the Green card - I don't know much about that one though.) - and they offer these terms:

"0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 12.99%."

Should I go for it?  I DO have baddies on file that will fall off within the next year or two.  They're all at least 5-6 years old, and none are currently reporting.  I also have a lot of inquiries from earlier this year and last.  The last one was three months ago when I got approved for my VentureOne.  

I guess the good news is that if I do this, they'll only hit Experian, I think.  If that's my lowest score already, I figure it can't damage me that much.  Ha.  : P

I'm also an authorized user already on an Amex card that is also in great standing.  I'm not sure if that would make a difference in their system.

Edit:  Credit.com tells me my Experian fako is 669, if that helps.  Hmm, it is also saying I have missed payments - but I haven't missed a payment since 2009.  It is probably reporting my old auto repo that was finally sold by the original creditor to a debt collector last month.  Not worried about that though since it is WELL past the SOL in my state (NC)

Wouldn't their prequalifying system see that though?

[Anonymous]

I had the same pre-quals that you were shown this past week and I app'ed and got approved for both of them but the green card comes with a $95 annual fee after the 1st year. I to dont get Pre-Quals offers from Cap1 so when I seen it on the AE site I was shock so I hurried up and applied and appoved...5k AED and Green Charge card

[lhcole77]

Any time I've received prequalified offers with specific APRs (e.g. Your 12.9%) it has been a firm offer and I have been approved. My scores have been higher than what you think yours might be.

Before I had myFico's monitoring I would also pull a report to see where I was at before my app. For me the $20 was worth knowing.

I imagine you'll be approved but never a guarantee. If it were me, I would app.

[Anonymous]

Boo...  and denied!  Hahaha...  

I'm going to garden for the entire next year, I think.  That was my plan anyway until the Amex prequalify magically came up!   Definitely frustrating since if anything, my credit is better now, so even if they'd soft pulled an old score for the pre-approval, my existing credit shouldn't be worse than that.  

Oh well!  ALL of my charge offs should fall off within the next year, and I have no big purchase plans for the time being.  I mostly apped because I'd love to replace Cap1 as my everyday spending card, and liked the 15 month 0% APR offer.

I just hope the only inquiry hit I get is on Experian.  I'm really happy with my Equifax and Transunion scores and I don't want them to go down.  

[OmarGB9]

Sorry to hear op. But glad you're aware that prequals aren't guaranteed by any means. I'm sure you'll get in eventually if you really want to.