American Express Pre Qualified

[Anonymous]

 I went to amex pre qualify offers and gave them last four of social etc. It came back with 

 Good News you have sucessfully pre qualifed for the following cards 

 Amex Everyday & Blue Cash Everyday 

 How do I know how solid these offers are? 

 Ex Fico 8 around 640

 Eq Fico 8 Around 685

 TU Fico 8 Around 660

Im nervous as I dont want to burn a hard pull if likely to be denied at this point. Any advice? 

Thanks 

[ridgebackpilot]

Pre-qualified doesn't necessarily mean pre-approved, but you might get approved.

Do you have any existing AMEX cards? If so, you can start the application process and the AMEX website will tell you whether you're pre-approved. Once you're an AMEX cardholder, they're famous for approving additional cards and CLIs with only a soft pull of your credit.

Good luck!

[Anonymous]

I do not have any Amex cards yet.

[Brian_Earl_Spilner]

You wouldn't normally qualify with EX at 640, but it has happened. Usually prequal is pretty solid. I'd say you can get the Delta Gold. I did, with a 641. My research says 640 is the cutoff for that card. I tried with a 635 and was denied, 8 days later when I had a 641, I was approved. BUT, you'll probably end up with a $500 or $1k limit which is hard to grow.

[Anonymous]

Im thinking I might just hold off till my scores are higher for the Amex. Unless others chime in and know something I do not. 

[Anonymous]

Do you have many other cards?
Anything in particular keeping your score down?

AMEX pretty much only ever uses your Experian score. They won't hard pull all three.

Would you mind going a little into the application process, but not actually submit it? If they show a single APR and not a range, that'd be a positive indicator.

640 is the very low end for an Amex card. If you can give more info, members may be able to spor things & give tips that'll help bump up your credit within a few months to have a safer chance at being approved.

[Anonymous]

I would wait. You might get approved but be stuck at $1K for a long time. Some people get out in 61 days, some in 91, some in 181, and some don’t get out after a year. 

https://ficoforums.myfico.com/t5/Credit-Card-Applications/1000-Amex-cards-never-getting-CLI/td-p/513...

[Anonymous]

On the pre qualification page it’s a range. Will it give any possible solids without actually submitting an app?

Experian has one old collection for $945 that is 6 years old. Last late pay was 1 year 9 months ago. Other report zero collections. I have 3 other cards that are reporting currently.

[Jnbmom]

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@Anonymous wrote:

I would wait. You might get approved but be stuck at $1K for a long time. Some people get out in 61 days, some in 91, some in 181, and some don’t get out after a year. 

https://ficoforums.myfico.com/t5/Credit-Card-Applications/1000-Amex-cards-never-getting-CLI/td-p/5139862

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Or still waiting after a year

[Anonymous]

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@Jnbmom wrote:

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@Anonymous wrote:

I would wait. You might get approved but be stuck at $1K for a long time. Some people get out in 61 days, some in 91, some in 181, and some don’t get out after a year. 

https://ficoforums.myfico.com/t5/Credit-Card-Applications/1000-Amex-cards-never-getting-CLI/td-p/5139862

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Or still waiting after a year

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That’s what I said at the end of the sentence 😂