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Amex Cash Magnet - Instant Approval

tenthirtytwo
Contributor

Amex Cash Magnet - Instant Approval

I saw a facebook post for the launch party for the Amex Cash Magnet, so I jumped into my account and checked for offers.  I was "pre-approved" to apply for the card and figured I'd give it a shot.  Amex only gave me a $2000 initial SL on my BCP back in October (it was my first card with them and they apparently didn't like my profile all that much) and was denied my 3x attempt on day 61, then gave me $5000 SL on my second attempt at day 91 since the first attempt.  I only asked for $5000 instead of trying for 3x, and it was approved instantly.

 

I'm heavy with inquiries, but pay every card in full every month and have a good mix including auto loan, auto lease, mortgage, revolvers and a PRG with NPSL.  I answered the income question and skipped the assets and got an instant approval for $15,000.  I was pleasantly suprised, since I tried for the Hilton Ascend in January when it came out and was denied.

 

Data Points

Experian: 746

Income: $194,000

Inquiries: way too many :-)

Utilization: Around 4%

Total Revolving CL: Around $160,000

 





myfico.com

9 REPLIES 9
AverageJoesCredit
Mega Contributor

Re: Amex Cash Magnet - Instant Approval

Tonight I'm wishing on a star, that once it hits 10:32 PM I wanna be like you. $194 I can relate, $194K, NOICE, Smiley Happy
Message 2 of 10
jawbrkr
Established Contributor

Re: Amex Cash Magnet - Instant Approval

I have no idea how people go into their accounts and get offers or prequals for amex cards. I swear I never get any from them. Am I looking in the wrong place? Oh, and congrats on the approval.



|| TU08: 802 || EQ08: 798 || EX08: 797 ||



Message 3 of 10
Rjw170
Frequent Contributor

Re: Amex Cash Magnet - Instant Approval

Congrats on the approval and nice limit.
Current Fico 8 Scores:

Credit Goal:

Gardening until 2021

Current Cards:


Wish List:



Message 4 of 10
Rjw170
Frequent Contributor

Re: Amex Cash Magnet - Instant Approval


@jawbrkr wrote:

I have no idea how people go into their accounts and get offers or prequals for amex cards. I swear I never get any from them. Am I looking in the wrong place? Oh, and congrats on the approval.


In the cards menu there is an option for pre-approved offers and card offers. Also, if you click apply it will tell you if you are pre-approved for that card or it will tell you that you can expand your membership or something like that.
Current Fico 8 Scores:

Credit Goal:

Gardening until 2021

Current Cards:


Wish List:



Message 5 of 10
AverageJoesCredit
Mega Contributor

Re: Amex Cash Magnet - Instant Approval

Lol, I couldnt get a preapproval for the Xema of meSmiley Wink. Just app and get the sp approval that's another storySmiley Wink
Message 6 of 10
VoltronM
Senior Contributor

Re: Amex Cash Magnet - Instant Approval

Congrats on approval and very nice SL

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 7 of 10
jawbrkr
Established Contributor

Re: Amex Cash Magnet - Instant Approval


@Rjw170 wrote:

@jawbrkr wrote:

I have no idea how people go into their accounts and get offers or prequals for amex cards. I swear I never get any from them. Am I looking in the wrong place? Oh, and congrats on the approval.


In the cards menu there is an option for pre-approved offers and card offers. Also, if you click apply it will tell you if you are pre-approved for that card or it will tell you that you can expand your membership or something like that.

Thanks. It tells me I am preapproved but it gives me an APR range. No set APR.



|| TU08: 802 || EQ08: 798 || EX08: 797 ||



Message 8 of 10
CreditWolf
New Contributor

Re: Amex Cash Magnet - Instant Approval

wow Congrats i think i should go for it lol Smiley Tongue

Message 9 of 10
tenthirtytwo
Contributor

Re: Amex Cash Magnet - Instant Approval

The intro offer that everyone here seems to be getting is 0% for 15 months, then varriable based on prime.  I might use the 0%  for a down payment on an auto lease after the card arrives next week some time.  I can put the cash down, but why not use their money for a few months with no interest and let my savings keep building interest!





myfico.com

Message 10 of 10
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