No Amex Pre-Qualification? Any Tips Why?

[DuxMom1]

Rebuilt credit from an 8 yr old Ch 13. Gone! Started with secured personal loan then sub-prime cards.

Fico 8 = EQ 745 .. TU 777 .. EX 725

Bankcard = 734 .. 793 .. 726

History is perfect! Utilization 18%, Length 1 yr 8 months, New credit 1 month

I know length and new credit are not great. We needed to refi ARM and 2 new cars. And did a great, flexible HELOC.

I went to AMEX and ran a prequalification and got zero? I make over 6 figures, have perfect payment history, and decent scores. Any tips why?

[K-in-Boston]

Most likely it's the Experian FICO 8 score, the not high but not exactly very low utilization,  and what seems like quite a lot of new credit acquired in a short time.  Income isn't part of the screening process for preapprovals.

Just because there isn't a preapproval, that doesn't equate to being certainly denied.  But your odds would certainly be helped by giving your reports some time to breathe and recover.

[DuxMom1]

Thanks! Getting anxious to move on from subprime cards but I will just give it some time and get utilization lower. Go Celtics!

[CreditCrusader]

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@DuxMom1 wrote:

Rebuilt credit from an 8 yr old Ch 13. Gone! Started with secured personal loan then sub-prime cards.

Fico 8 = EQ 745 .. TU 777 .. EX 725

Bankcard = 734 .. 793 .. 726

History is perfect! Utilization 18%, Length 1 yr 8 months, New credit 1 month

I know length and new credit are not great. We needed to refi ARM and 2 new cars. And did a great, flexible HELOC.

I went to AMEX and ran a prequalification and got zero? I make over 6 figures, have perfect payment history, and decent scores. Any tips why?

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These cats are a squirrely bunch, to be sure.

Back when I actually had an interest in getting one of their cards, I'd try the prequal and get shot down every time.

A couple of months after I stopped trying, they started sending me all sorts of offers.

It could be that you're not yet on their radar for prequal offers, but also a strong candidate for approval if your DTI is strong. With your income, I'm sure your chances would likewise be strong.

[jcooks]

After getting my first Amex, I was checking the pre-approvals via wording on the application pages often.  I noticed that every time I open a new card, I would lose the pre-approval wording.  A month after the card reports, I notice that the pre-approval wordings come back.

[Aspireto850]

FWIW, I've had an Amex Platinum for 20 years and often went to the pre-qual tab and never had any offers. So I said, what the hell let me just apply for the BCP ( I can afford the inquiry if they did one) and was immediately approved.