To pull or not to pull Amex

[Civil]

I am a Delta skymile member but I do not have any Amex cards. Delta sent me an email fo 70k bonus miles offer for Delta gold after 2k spending in 3 months and I have till 2/20 for this offer. I know I can get this card from Amex because I did a prequal. My problem is I don’t want my score to go down because of age and I also don’t want 1k starting limit, Also my utilization will be down to under 30% by the 1/8.

EX: 683
AAoA: 5.8
Utilization: 50%
Inquiries: 8
Total credit: 7.3k

[Priory_Man]

Wait until you get your UTIL under the 30% and give it a go, you may get a higher SL.
Amex is pretty good about giving CLI's and that card will grow fairly quickly. Priority boarding and free checked bags is a nice perk to have, unless you have medallion status then you wouldn't care either way.
I started with the Delta gold, a 1k SL I now have the Delta Reserve with a 28k SL. Took me about 4 years to get there but worth it.
Your score may take a dip, but it is not going to be huge and it will bounce back after a few months.

[imaximous]

I'd wait till your UTIL is lower. Your score will improve just by bringing your UTIL down under 30%, so if you're worried about your score going down, I'd say it'll probably go up instead by a combination of lower UTIL from paying down debt and increasing your overall CLs if you manage to get a decent SL on the AMEX. Don't pull the trigger yet.

[K-in-Boston]

I would wait until Amex is able to see your vastly improved EX08 score from lower utilization. Also consider whether Platinum (or Reserve) would be a better option for you. If you are a frequent flyer, the additional 10,000 MQMs on many offers for those will certainly help! Plus, the companion certificate alone more than pays for the full annual fee on Platinum and Reserve.

[HeavenOhio]

@Civil, note that "under 30%" actually means 28.9% or below. If you're paying interest, aim for 27% or below. That will avoid being bumped over the threshold when the next month's interest is charged.

In addition to being below 28.9% (27%) overall, I'd also try to make sure that each card is under 28.9% (27%).

Also consider that you have until February to get the bonus. If you think utilization will improve further in a month, take advantage of that.

[Civil]

Thanks everyone I will knock my utilization down under 10% and go for it in before 2/20

[NRB525]

I agree with the others, wait until that utilization is well below 30%.

Also, DO NOT play around with the AMEX prequal tools in the weeks leading up to your apps, meaning from today forward. Do not do anymore prequalification checks with AMEX. Plenty of reports about people getting nice SUB targeted offers like this, then AMEX says “Sorry, you did a prequalification check which took away this SUB. Too bad, so sad ( that’s you ) “.
Believe, trust that, you will get the card when utilization comes down, and stay away from prequal. Clear?

You can expect a $1k starting limit. Maybe $2k. Sorry, but that’s just how AMEX is going to look at your limited credit amounts. But that is no reason to avoid the card. CLI will grow, after you get the card.

GL. Let us know results.

[Civil]

@K-in-Boston I am not sure if i will be able to qualify for the platinum or the reserver. I don't travel that often and I don't mind the platinum AF, I am not interested in paying $450 AF for the reserve. I would go for the platinum but not to sure if the data points my credit will qualify me

[NRB525]

Stick with the Gold first. This targeted offer is the best SUB available.
As your AMEX relationship grows, you will have opportunities to get Delta Platinum and Delta Reserve, if they work for you.

Patience in all things AMEX.