Amex Update!

[Anonymous]

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@Anonymous wrote:

However don’t rely on just what cards appear in the list.  Just click on any card, hit the apply link and it will tell you if you’re prequalified 

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How will this come up? Should we infer based on the APR or will it explicitly mention that we are pre-qualified? 

[Caught750]

It will clearly state pre approved

[redpat]

Am I missing something here?  With respect to Amex applications if you are an existing cardholder and denied there isn’t a HP, so why would anyone be concerned if there was or wasn’t  a pre-approval.  In addition, if you are approved the chances of a HP are now slim to none.  Apply for the card you want vs. just a pre-approval.

Amex made applying for cards for existing cardholders very easy.

[redpat]

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@Anonymous wrote:

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@frank784 wrote:

Does the "Expanding your membership with us is easy" mean that's a prequal or is that the opposite? On the chat window the rep told me that any of the featured cards are preapprovals as well but I'm not sure at all. 

Thanks . 

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It means you are not pre-approved for that card.  If you were pre-approved, the message would say "Frank784, you are pre-approved!  Get a decision in as little as 30 seconds."

The "Expanding your membership" statement does not prevent you from applying but Amex will pull your Experian credit report.  When you're pre-approved they generally will approve the new card with just a soft pull.

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I wasn’t pre-approved for my SPG and Hilton and there was no HP.  I was pre-approved for biz plat and BRG w/ no HP.

I don’t think it matters if you are pre or not.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

However don’t rely on just what cards appear in the list.  Just click on any card, hit the apply link and it will tell you if you’re prequalified 

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How will this come up? Should we infer based on the APR or will it explicitly mention that we are pre-qualified? 

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No fixed APR will be given.  It just shows the APR range you can get but it does show preapproved as the image below shows.  However, and this isn't directed at you, but a general statement - posters here fixate far too much on whether they are preapproved or not for credit cards from every creditor.  For one, it's not a guarantee that you will be approved if you apply.  Many times people apply after a preapproval and are denied.  In some cases like Chase's green check marks, a preapproval can be valuable if you're over 5/24, but posters would be far better to do research on the general qualifications for a card and then apply if they find that they that meet those standards.  Do research here and elsewhere and then based your decision whether to apply or not on that research.   

Just as an example, I have been approved for 40+ cards in last 3 years and I think I may have been preapproved for 4-5 of those cards.  As @redpat states, there is almost no downside to applying for an American Express card whether you are preapproved or not.  In the vast majority of cases, the application will result only in an SP if you're denied and if you already have an Amex account, you'll get an SP even if you're approved.  I constantly see forum members be reluctant to apply for the Platinum card because the card doesn't show up as preapproved.  The Platinum card is easy to get approved for-Amex wants the $550 and the underwriting standards for the card are the same as the Green and PRG cards.

[Anonymous]

Thank you. This is a great explanation for beginners like me who are starting out to build credit. Many times, to avoid risk of denial, I’ve tend to think of pre approvals as sort of low risk option to apply when I need a card. I don’t need many, but when I need one, my thinking is that’s an easier (maybe lazier) way to find out the chances of acceptance.

That’s not always the case, hmmm. That’s incredibly useful.

[Anonymous]

Existing PRG member, I had a splash page for the Cash Magnet card and Platinum updgrage. I apped for the Cash Magnet thinking it was a solid pre-approval. Denied, and had a HP warning flash up from my credit monitoring alerts. 

[rbentley]

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@Anonymous wrote:

Existing PRG member, I had a splash page for the Cash Magnet card and Platinum updgrage. I apped for the Cash Magnet thinking it was a solid pre-approval. Denied, and had a HP warning flash up from my credit monitoring alerts. 

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Good cautionary note! SP for additional cards for existing members is not guaranteed.  You should be cautious in apply for cards and feel that you meet their approval criteria.

[SarahJo]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

However don’t rely on just what cards appear in the list.  Just click on any card, hit the apply link and it will tell you if you’re prequalified 

---

How will this come up? Should we infer based on the APR or will it explicitly mention that we are pre-qualified? 

---

No fixed APR will be given.  It just shows the APR range you can get but it does show preapproved as the image below shows.  However, and this isn't directed at you, but a general statement - posters here fixate far too much on whether they are preapproved or not for credit cards from every creditor.  For one, it's not a guarantee that you will be approved if you apply.  Many times people apply after a preapproval and are denied.  In some cases like Chase's green check marks, a preapproval can be valuable if you're over 5/24, but posters would be far better to do research on the general qualifications for a card and then apply if they find that they that meet those standards.  Do research here and elsewhere and then based your decision whether to apply or not on that research.   

Just as an example, I have been approved for 40+ cards in last 3 years and I think I may have been preapproved for 4-5 of those cards.  As @redpat states, there is almost no downside to applying for an American Express card whether you are preapproved or not.  In the vast majority of cases, the application will result only in an SP if you're denied and if you already have an Amex account, you'll get an SP even if you're approved.  I constantly see forum members be reluctant to apply for the Platinum card because the card doesn't show up as preapproved.  The Platinum card is easy to get approved for-Amex wants the $550 and the underwriting standards for the card are the same as the Green and PRG cards.

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Good point!  I like to look at pre-approvals for mere anectdotal purposes...it passes the time while gardening and 2 years into the rebuild journey it's nice to see how far things have come with a "pre-qual gauge.' ;-)  Silly, but it's the little things I guess haha...