AMEX Gold/Platinum Pre Qualify Solid??

Anonymous · ‎02-23-2021

Hey,

I use to be a AMEX customer but had a bad experience with them 2 years ago. I closed all accounts and paid all accounts down to zero before closing.

I am willing to give them a second chance. I went to the site and I see I am pre qualified for the gold/platinum cards. Would this mean I am pre qualified for all other cards or just these two? I would like one of the Cash Magnent cards. These are the only two cards that have the "Pre Qualified". I have been checking for months and normally it would say "We could not find any offers for you."

Here is a screen shot and are these offers firm or legit?

Thanks I appreciate it.

simplynoir · ‎02-23-2021

Was this taken from the pre-qualification tool on the AMEX website? Reason I ask is while I haven't had to deal with the tool myself in awhile I thought that they would give you a solid APR even if it is the charge card's Pay Over Time feature. So I'm interested to learn if someone else who has had more recent experience can shed light on this

In any case assuming your scores are looking good and you left AMEX in respectable terms as you said then I don't see why they wouldn't welcome you back. If the goal is one of the cashback cards you should be good to go on applying for the one you want. Just make sure if you're looking to get the signup bonus as well that you make sure there is no pop-up language that tells you that you do not qualify

Anonymous · ‎02-23-2021

@simplynoir

I should have put that in the post. Yes I used their pre qualification tool. It checked and it came back with those two cards being prepared qualified and no other cards.

Remedios · ‎02-23-2021

Their prequals aren't as solid as they used to be.

If you are rebuilding, it can go either way.

If you have a clean file and didn't burn them in the past, you will most likely get approved.

As far as Cash Mangnet or any other core revolver, they have a bit stricter UW criteria. Just about any negative on CR can put you in $1000.00 for years SL if approved.

There really isn't enough in your post about your profile to make semi-educated guesses

Cpmcmxc · ‎02-23-2021

@simplynoir wrote:
Was this taken from the pre-qualification tool on the AMEX website? Reason I ask is while I haven't had to deal with the tool myself in awhile I thought that they would give you a solid APR even if it is the charge card's Pay Over Time feature. So I'm interested to learn if someone else who has had more recent experience can shed light on this

I got my Amex Everyday Preferred through the PreQual tool, as well as my Amex Gold (declined original offer, signed up later). The original APR was stated similarly to how OPs is pictured. In my case, they confirmed my final APRs once they compelted the HP. Additionally, pay over time is only available on a portion of your total credit line.

One thing that may also be helpful to know (according to AMEX rep I spoke to) is that AMEX continues to review your credit score on the Gold and Platinum cards more closely to determine if your credit limit should be adjusted up or down. I've had my limit increase twice over the lifetime of my relationship with them because I increased my scores by paying stuff down. Best of luck to you OP. I love my AMEX cards, so long as you keep that POT balance low, you should be good.

FinStar · ‎02-23-2021

OP, although it's possible you could be approved for their other CCs, it may be something on the starter level which may take a long time to grow, as @Remedios pointed out. So, it appears for what the tool is currently offering you as a pre-qualification, any of the charge cards you'd likely be approved.

Depending on the profile, though, core cards are a bit tougher on the UW front followed by their co-branded CCs. For anyone with a strong and/or established, solid profile any of their CCs is pretty much for grabs -- pre-qualified or otherwise.

Anonymous · ‎02-23-2021

@Remedios

FICO 08 759 Bankcard 08 781

No Derogs

4 Inquirers

2 new accounts in the last 24 months

Thanks for the insight!!

FinStar · ‎02-23-2021

You mentioned you had a bad experience with AmEx, what in specific would you say soured the relationship, was it something procedural or policy related or...? -- just something to keep in mind if you're willing to re-establish the relationship and avoid any past headaches.

Remedios · ‎02-23-2021

I think you should be okay.

I only have one more question, when you said "you're willing to give them another chance" ..did something happen before?

If there is no negative history there, you have a decent chance.

If you had their cards before, but not a clean CR, they might have retained that info (they will reference it as a denial reason even when the last derog is removed from CR).

Remedios · ‎02-23-2021

@FinStar wrote:
You mentioned you had a bad experience with AmEx, what in specific would you say soured the relationship, was it something procedural or policy related or...? -- just something to keep in mind if you're willing to re-establish the relationship and avoid any past headaches.

Copy kitty!