amex pre-quals co-brands only

bourgogne · ‎04-19-2020

Hi, not sure what to make of this, I have done the same for five 18 year olds; gave them a few of my chase cards and one amex. this kid even has hard an auto loan for 1.5 years with golden 1. pulled him the other day and his ex was 721. all of the account are reporting. previously this has resulted in a decent spread of amex offers; ED, BCE, Magnet, etc. below is all I am getting. yes, have tried incognito, vpn, different browsers, etc. wanted amex to be his 1st but I am thinking now of just moving forward with a golden 1 visa or try dcu as they do inline offers during membership, etc. sign of the times?

Delta SkyMiles Reserve American Express Card

Delta SkyMiles Platinum American Express Card

Delta SkyMiles Blue American Express Card

Delta SkyMiles Gold American Express Card

Hilton Honors American Express Surpass® Card

Remedios · ‎04-19-2020

They are peddling cards with annual fees most people wouldn't be applying for right now.

If you're "teaching" this kid, start with *preapproval* doesnt mean anything, pick a card that makes sense financially and watch the wheel spin.

After all, it's a single EX pull.

bourgogne · ‎04-19-2020

@Remedios wrote:
They are peddling cards with annual fees most people wouldn't be applying for right now.

If you're "teaching" this kid, start with *preapproval* doesnt mean anything, pick a card that makes sense financially and watch the wheel spin.
After all, it's a single EX pull.

not teaching him, more like helping him to get a good start. don't totally agree with pre-approvals, I rather fancy them + my amex offers are full to the brim. would try the below but not sure he could bag a $5k out of the gate + his EQ is only 709. his TU is 755.

https://www.aodfcu.com/credit-cards/

Anonymous · ‎04-19-2020

@bourgogne wrote:
@Remedios wrote:
They are peddling cards with annual fees most people wouldn't be applying for right now.

If you're "teaching" this kid, start with *preapproval* doesnt mean anything, pick a card that makes sense financially and watch the wheel spin.
After all, it's a single EX pull.
not teaching him, more like helping him to get a good start. don't totally agree with pre-approvals, I rather fancy them + my amex offers are full to the brim. would try the below but not sure he could bag a $5k out of the gate + his EQ is only 709. his TU is 755.
https://www.aodfcu.com/credit-cards/

AOD has 21+ age barrier for cards unless co-sign/joint, so you could do that if you co-sign.

Someone got the VS with a mid 600 score

bourgogne · ‎04-19-2020

@Anonymous wrote:
@bourgogne wrote:
@Remedios wrote:
They are peddling cards with annual fees most people wouldn't be applying for right now.

If you're "teaching" this kid, start with *preapproval* doesnt mean anything, pick a card that makes sense financially and watch the wheel spin.
After all, it's a single EX pull.
not teaching him, more like helping him to get a good start. don't totally agree with pre-approvals, I rather fancy them + my amex offers are full to the brim. would try the below but not sure he could bag a $5k out of the gate + his EQ is only 709. his TU is 755.
https://www.aodfcu.com/credit-cards/
AOD has 21+ age barrier for cards unless co-sign/joint, so you could do that if you co-sign.

Someone got the VS with a mid 600 score

thanks for saving me a call tomorrow, no co-sign. the golden 1 card is not bad, 3% restaurant, grocery and car, 1% on the rest + he can get it, his auto loan has been solid with them. thinking about also cold-apping for a amex magnet, just to get his foot in the door. he is a great kid. thanks again for the tip

Remedios · ‎04-19-2020

@bourgogne honest question..

Why weigh him down with 1.5% cash back card just to get his foot in the door.

If his profile and income support any app, why not get his foot in the door with something that they can actually use and benefit from?

If that's the Cash Magnet, he should go for it, but getting cards in an attempt to endear himself to a lender..well, that's not an idea I can get behind.

It's like saying "I'm going to hire people to build me a tiny house so they will come back later and work on a big house, even though they would work on it anyway because they need customers"

It's an unnecessary step.

If a simple cash back card is all they need, amex is a good lender, but so are many others.

He might be spending a lot on fast food, he may not have utility bills (good for mon category spend), he might want to travel later, online shopping vs physical stores etc.

Have him break down what he's been spending money on in the last three months, and it should be pretty obvious which card is right for him.

We should be applying for cards, not lenders.

That's just me, though.

bourgogne · ‎04-19-2020

@Remedios wrote:
@bourgogne honest question..

Why weigh him down with 1.5% cash back card just to get his foot in the door.
If his profile and income support any app, why not get his foot in the door with something that they can actually use and benefit from?

If that's the Cash Magnet, he should go for it, but getting cards in an attempt to endear himself to a lender..well, that's not an idea I can get behind.
It's like saying "I'm going to hire people to build me a tiny house so they will come back later and work on a big house, even though they would work on it anyway because they need customers"
It's an unnecessary step.

If a simple cash back card is all they need, amex is a good lender, but so are many others.
He might be spending a lot on fast food, he may not have utility bills (good for mon category spend), he might want to travel later, online shopping vs physical stores etc.
Have him break down what he's been spending money on in the last three months, and it should be pretty obvious which card is right for him.
We should be applying for cards, not lenders.
That's just me, though.

he is 18, he has no bills. I don't see a 1.5% magnet as being a bad first card at all. I see 3x cli's with softpulls and future cards with soft pulls as a huge plus. as stated, the golden one is 3% on most or the norm, that will be his visa. I am open to solid examples, lay it out

elixerin · ‎04-19-2020

it's the lender/s that grow the card/s with the individual though.. and AMEX definitely will. I think it's smart getting in with amex esp at the age simply because there's the most efficient growing potential.. also they are just easier to deal with IMO. Chase begged for multiple POI's for a freedom app meanwhile my amex exposure can range anywhere from 25-40k in a given month.. this number was 4k MAX in November of 2019 on pretty brand new credit history. No POI or "review" from them still

CU's are another story (a good one), however the golden card seems to have a promising reward system and i do agree that he and you (for his sake) should apply for a card that will hold long term value. I apped Magnet (first amex) in Nov and now-adays im wishing i went the ED route simply for having my first personal amex tradeline not be the Cash Back system rather MR but owel :l you learn as you go. This individual is lucky to have you guiding him bourg. Good looking out

bourgogne · ‎04-19-2020

@elixerin wrote:
it's the lender/s that grow the card/s with the individual though.. and AMEX definitely will. I think it's smart getting in with amex esp at the age simply because there's the most efficient growing potential.. also they are just easier to deal with IMO. Chase begged for multiple POI's for a freedom app meanwhile my amex exposure can range anywhere from 25-40k in a given month.. this number was 4k MAX in November of 2019 on pretty brand new credit history no POI or "review" from them still

CU's are another story (a good one), however the golden card seems to have a promising reward system and i do agree that he and you (for his sake) should apply for a card with long term value. I apped Magnet in Nov and now-adays im wishing i went the ED route for the first personal amex tradeline that's not the Cash Back system but MR but owel :l you learn as you go. This individual is lucky to have you guiding him/her bourg. Good looking out

Hi there, I am about card fit but truth is I am also about the lender and amex, chase & pnc are solid, there is just no way to have issues with them if they are treated with respect. UR/MR is not right for him at this point, i want him to cash back to get his feet wet, esp with international travel being an unknown. he is an interesting person, 18 on 4/15/20, fluent in german, been to over 100 counties, near photographic memory. I am dying to see what this kid makes of himself. I view anything he gets now as a burner card of sorts but I cannot see amex as anything other than the best lender to get into bed with starting off. I think he is dead with chase for now, he has 2 NSFs and you know how they are about that sort of thing. chase will only be a prequal in the future for him, wasted pull otherwise imo. stayout of trouble and thx!

Remedios · ‎04-19-2020

@elixerin wrote:
it's the lender/s that grow the card/s with the individual though.. and AMEX definitely will. I think it's smart getting in with amex esp at the age simply because there's the most efficient growing potential.. also they are just easier to deal with IMO. Chase begged for multiple POI's for a freedom app meanwhile my amex exposure can range anywhere from 25-40k in a given month.. this number was 4k MAX in November of 2019 on pretty brand new credit history. No POI or "review" from them still

CU's are another story (a good one), however the golden card seems to have a promising reward system and i do agree that he and you (for his sake) should apply for a card that will hold long term value. I apped Magnet (first amex) in Nov and now-adays im wishing i went the ED route simply for having my first personal amex tradeline not be the Cash Back system rather MR but owel :l you learn as you go. This individual is lucky to have you guiding him bourg. Good looking out

Chase, as in JPMorgan Chase - $2.74 trillion in assets begged for POI?

I think the word you were looking for is "Demanded".