I was pre-approved for a Delta Gold a few months ago and foolishly wasted a hard pull and applied. Was denied. After that, I didn't get any preapprovals for a while from AMEX (doing pre-approvals is a hobby of mine 
). Then last night I got preapprovals again—this time for the Delta Gold and for two of the Hilton Honors cards. I guess that's a good sign? (That I'm getting pre-approved for more than one card this time?)
APR listed on all these pre-approved offers is wide (like 17%-26%?). I think that's not a good sign, right? It's better if they narrow it down to one single APR instead of a range, right?
I am gardening now (still working on getting minimum spend for my Navy AMEX sign-up bonus!). But a "real" AMEX is on my list of cards to get. I know it'll take time.
Current data points:
- EX FICO 8: 665
- AAoA something like 6+ years.
- Low income (25K)
- Baddies: 90-day late and settlement (not charge-off), both a year old. No other baddies.
- Util high, but a lot better than it used to be. Am paying off some closed cards with low interest payment plan with bank. It is what it is.
- DTI not bad (less than 20%)
I am curious about the Delta Gold. Is it just going to earn me airline points or can I redeem them for cashback or gift cards or something? I hear that the Delta is a way to get "in" with AMEX and then the other cards can become available once you prove yourself. I'm willing to do this if it's what it takes.
I am not eager to waste another inquiry anytime soon. I just wonder about the odds in let's say 4 to 6 months, assuming my score goes up to 670 or above. Any advice or tips you can give would be appreciated!
Your Experian FICO 08 score is certainly within the range of acceptable on the SkyMiles Gold card from others' experiences here. The other factors such as fairly recent lates may come into play. No one here can say for sure that you would be approved or denied; the only way to know that for sure would be to apply (again).
I would caution against solely getting the card to "get in" with Amex, however. Your profile will likely need to improve quite a bit before you get approved for the cards you likely really want from them. The card earns Delta SkyMiles, which are valued at a minimum of 1.2 cents (but can be much higher, especially during frequent sales) but using them to buy Delta gift cards is a very poor value, even when they have discounted offers; cash or other gift cards are not options. The welcome offer on the Delta cards can often be worth over $1000, so if you were to be approved for one make sure that you actually complete the required spending. SkyMiles do not expire, but they may be reduced in value at any time - which is the same for any points program.
I got the range too, except they feel the need to keep spelling the limit
@FinStar wrote:
You're doing great on your rebuild so that's definitely commendable.
Some questions/thoughts:
- Do you fly Delta frequently?
- What was the reason cited for the denial the last time you applied?
- Don't narrow the scope of getting a card just to "get in", get a CC that will work for you and provide you with decent benefits
- Pre-approved offers are a good sign, but let your profile age, inclusive of the negative items, get the utilization and DTI lower to position you for better odds on getting approved. Otherwise, the SL and APR will not be as desirable.
Thanks for your response!
I haven't taken a flight recently, but miles card wouldn't be totally unwelcome, but to be honest I'm more about cashback right now. However, I can fly with Delta as much as with any other airline.
If I had a shot at it, I'd be more inclined to go for the Hilton card (the one with the cheaper annual fee).
I can't remember the exact reasons for my AMEX denial, but I think it was the standard (for me). Too many inquiries, too recent baddies, and high util.
The Delta Gold does offer some benefits I could (eventually) use. But my profile may dramatically (I hope!) improve next year, when I get some expected money and get the closed cards paid off. I'm going to have to wait anyway, but it would be nice if I started to get preapprovals for some of the cashback cards too. 
@K-in-Boston wrote:Your Experian FICO 08 score is certainly within the range of acceptable on the SkyMiles Gold card from others' experiences here. The other factors such as fairly recent lates may come into play. No one here can say for sure that you would be approved or denied; the only way to know that for sure would be to apply (again).
Thanks! I thought my score was probably "good enough" but I think my lates and probably the util are holding me back. If I apply again anytime soon, it'll probably be in the Spring sometime. (Unless something drastic happens to boost my score!)
@K-in-Boston wrote:
I would caution against solely getting the card to "get in" with Amex, however. Your profile will likely need to improve quite a bit before you get approved for the cards you likely really want from them. The card earns Delta SkyMiles, which are valued at a minimum of 1.2 cents (but can be much higher, especially during frequent sales) but using them to buy Delta gift cards is a very poor value, even when they have discounted offers; cash or other gift cards are not options. The welcome offer on the Delta cards can often be worth over $1000, so if you were to be approved for one make sure that you actually complete the required spending. SkyMiles do not expire, but they may be reduced in value at any time - which is the same for any points program.
Yeah, ordinarily I'd hesitate to apply for a card just to get "in," but this is AMEX! Seriously, you're right, if I'm lukewarm about the card I shouldn't appy for it. The rewards you describe do help me understand the value better, and the next time I plan a flight, the card sure could be helpful.
@Remedios wrote:I got the range too, except they feel the need to keep spelling the limit
Your prequalification looks different than mine! I get 50,000 points but no mention of credit limit. Interesting! It looks to me like you have a better chance of getting approved, right?
