cancel
Showing results for 
Search instead for 
Did you mean: 

AMEX questions...

Doodlebug30
Frequent Contributor

AMEX questions...

So i have never had an Amex and the only info i know is what ive read here on the forums...Quite frankly i never thought id even come close to qualifying for any Amex card ever but, I checked prequal and was prequalified for BCP, Gold and Cash magnet. All variable APR's...

I guess my questions are,

Are prequals really solid? Any have any experience being denied even though they were prequal?

Is Amex new acct or inquiry sensitive? If so, how many is too many?

Are they good about CLI's? 

Starting limits? 

 

Its all profile based i know. But i guess i wanted to start a discussion for Amex newbies or anyone like myself considering applying for their first amex. 

 

DP's - FICO's are all around 702-712

UTIL 15% ; Only 1 card above 30% (32%) which is a 0% promo balance on a furniture purch.

2 new accts in the last 12 months, newest 1 month old.

Only derogs are 6+ year old student loan lates (90+ day) that are due to fall off mid 2021. 

 

28 REPLIES 28
blindambition
Community Leader
Senior Contributor

Re: AMEX questions...

Pre-qualified is solid, meaning you meet eligibility criteria.

When hitting apply button, phrasing You're pre-approved, get a decision in as little as 30 seconds. That's pretty much a guarantee, unless profile has significantly changed.

The phrasing Expanding your relationship is easy isn't a pre-approval, but not necessarily a denial.

Message 2 of 29
wasCB14
Super Contributor

Re: AMEX questions...


@Doodlebug30 wrote:

So i have never had an Amex and the only info i know is what ive read here on the forums...Quite frankly i never thought id even come close to qualifying for any Amex card ever but, I checked prequal and was prequalified for BCP, Gold and Cash magnet. All variable APR's...

I guess my questions are,

Are prequals really solid? Any have any experience being denied even though they were prequal?

Is Amex new acct or inquiry sensitive? If so, how many is too many?

Are they good about CLI's? 

Starting limits? 

 

Its all profile based i know. But i guess i wanted to start a discussion for Amex newbies or anyone like myself considering applying for their first amex. 

 

DP's - FICO's are all around 702-712

UTIL 15% ; Only 1 card above 30% (32%) which is a 0% promo balance on a furniture purch.

2 new accts in the last 12 months, newest 1 month old.

Only derogs are 6+ year old student loan lates (90+ day) that are due to fall off mid 2021. 

 


What are you seeking in this card?

BCP is good if you have high grocery spend.

Cash Magnet is 1.5% cash...not the best you can do with ~700 FICOs.

Gold can be great if you like airline miles, have high restaurant and supermarket spend, and don't mind the fairly quirky airline/Uber/dining credits.

 

I've never found them to be sensitive to new accounts. I've gotten good SLs and have only haved for a CLI once.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 3 of 29
dragontears
Valued Contributor

Re: AMEX questions...


@blindambition wrote:

Pre-qualified is solid, meaning you meet eligibility criteria.

When hitting apply button, phrasing You're pre-approved, get a decision in as little as 30 seconds. That's pretty much a guarantee, unless profile has significantly changed.

The phrasing Expanding your relationship is easy isn't a pre-approval, but not necessarily a denial.


That only works if you already have a Amex, OP doesn't so will not see the "expand your membership" terminology 

Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 4 of 29
Doodlebug30
Frequent Contributor

Re: AMEX questions...

@wasCB14  To be honest I dont really want any of them bc I loathe having to pay an annual fee. I really would prefer the BCE but that wasnt on my prequal list. I probably wont be pulling the trigger right this moment but I wanted to do my research. If i was going to pick out of the 3, i would go BCP. Grocery rewards will go far in my house lol. 

 

So this language will show up right when i hit apply? Or do i actually have to go through the whole app?

Message 5 of 29
wasCB14
Super Contributor

Re: AMEX questions...


@Doodlebug30 wrote:

@wasCB14  To be honest I dont really want any of them bc I loathe having to pay an annual fee. I really would prefer the BCE but that wasnt on my prequal list. I probably wont be pulling the trigger right this moment but I wanted to do my research. If i was going to pick out of the 3, i would go BCP. Grocery rewards will go far in my house lol. 

 

So this language will show up right when i hit apply? Or do i actually have to go through the whole app?


You may find the bonus on BCP makes it worth getting the card for a year before downgrading it to BCE. I'm not sure what the current offers are.

 

But if BCE is what you really want, I would just go for that and not the others. BCE isn't any harder to get than BCP, regardless of the lack of an explicit prequal.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 6 of 29
Doodlebug30
Frequent Contributor

Re: AMEX questions...

@wasCB14 I didnt even think of downgrading after a year! I really am enticed by the sign up bonus of the BCP. I was trying to justify the annual fee in my head tho lol. I dont have an outrageous amount of spend each month. Just an average amount of bills and shopping so i dont need any crazy fancy cards ya know? 

Message 7 of 29
RobertJ
Established Contributor

Re: AMEX questions...


@Doodlebug30 wrote:

@wasCB14  To be honest I dont really want any of them bc I loathe having to pay an annual fee. I really would prefer the BCE but that wasnt on my prequal list. I probably wont be pulling the trigger right this moment but I wanted to do my research. If i was going to pick out of the 3, i would go BCP. Grocery rewards will go far in my house lol. 

 

So this language will show up right when i hit apply? Or do i actually have to go through the whole app?


I use to be that way too, until I realized that with minimal travel those cards can easily pay for themselves and then some.  



Message 8 of 29
Doodlebug30
Frequent Contributor

Re: AMEX questions...

Very true...Im tempted on the BCP just to get in with amex...Plus is a pretty great card too!

Message 9 of 29
ddm2k1
Frequent Contributor

Re: AMEX questions...

Look into the Amex 3X CLI thread, yes they are more generous, GENERALLY, than many other big card issuers. 

 

Also, the BCP, I have seen in people's signatures almost always has the highest or one of the highest limits among all listed. 

 

It is entirely possible to have a $30k BCP if the income, spend, and history are there - a lot easier than a $30k Citi, Wells, or BofA. Perhaps on the same level as a Chase Sapphire as far as limits go. 

Message 10 of 29
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.