I did the Amex pre-qualification tool on their website and they only listed the Platinum card. I couldn't justify the $700 annual fee at this point in time. So I clicked on the other cards thinking that if i got approved for that card then it should have no problem with the others. So i applied for the Blue Cash Everyday but I got turned down. My Fico 8 is around 675 at all three. I have no collections. I have a auto loan for one year and I just got a Discover Secured card for $500. I really want to build a relationship with Amex and now regret not just paying the $700. How soon can I reapply for another chance with Amex?
I would wait until you get the denial letter in the mail and see what it says.
@GypSea_Surfing Sorry to hear of your denial. In my experience, the Gold Delta was the easiest card to get starting out. See what the letter says and keep your eyes on the prequalification page in the near future. You are at the borderline score and if it goes up another 10-20 points, it might open up more AMEX opportunities for you including the Delta Gold. Good luck.
Thank you for your time and your input. They are highly appreciated. Have a great day!
@GypSea_Surfing If you have had second thoughts, you might try the prequalification tool again to see if your Amex Platinum offer is still there. If they offered it once, they will probably offer it again. Regarding your denied application for the Amex Blue Cash Everyday Card, I often hear that American Express cards with no annual fees are the hardest of their cards to get. I recommend accepting any card they offer you. Then once you're in the door, it may be more likely to get approved for additional cards later. Perhaps they would even allow you to do a product change from Amex Platinum to Amex Green. I have Amex Green and I love it. It is the card I use for everything. And Amex Green has a much lower annual fee than the Platinum. The Amex Green annual fee is $150.
Generally speaking, if you're preapproved for one charge card, you should be preapproved for any of them, as they all have the same UW standards. However, you applied for a revolving account, which has higher UW standards, thus the denial. So while you didn't have to get the Platinum (or any card they offered), you may have had slightly better luck with another charge card such as the Gold or Green.
That said, wait for the denial letter and see what the reason(s) for denial were.
Thank you for your time and your input which are both highly appreciated. Makes sense now that I think about it that their "no annual fee" card would be the hardest to get. Thanks again! Have a great day!
Thank you for your time and your input which are both highly appreciated. Have a great day!
To answer your question you can apply again in 5 days if applying for another credit card (which is what the BCE card is). If applying for a Charge card (which the Platinum is) then you can apply now. However, as others have said I'd wait on the letter to address the reason(s) you were denied. With it being a credit card and if you only have one secured credit card I'd suspect that and a thin file being the reason. Remember with AmEx Charge cards are easier most times to get then credit cards and that's what the Paltinum is. If you're still showing a preapproval (which you may not be now) you can also try for the Gold which as a Af of only $250 or the Green which is only $150. Either are pretty good and way cheaper than the $695 Platinum
Thank you for your input and your time. Highly appreciated! I had to look up the difference between a charge card and a credit card as I initially thought that they were the same thing. Now I understand how AMEX makes their money on the cards with no annual fee, by people carrying a balance and paying the interest. I thought that you could carry a balance on all AMEX cards. Good to know. Thanks again. Have a great day!