amex prequals suck!

[KJinNC]

I am not an expert but I will recount my personal experience while it's fresh. Caveat, my profile is a bit unusual, as you can see in my signature.

I applied multiple times for the Gold Card, both via and not via the Corporate Advantage Program, got some rejections but eventually got a surprise approval. Used it heavily for several weeks, making multiple payments per week. My purchase power went from $2,500 to $20,000+ in three weeks. I got a Delta Gold prequalification. That's a card I really wanted for travel I am currently planning. Applied, got denied. Reconned, and got a letter saying they were sticking with the denial. Meantime, my Amex Gold crossed the 1-month threshold and I closed a couple of small secured cards. Mentioning because I can only speculate what changed in Amex's eyes, but the same day I received the recon rejection letter in the mail, I noticed that I was now "preapproved" (not prequalified) for all Amex credit cards. Nervously applied for the Delta Gold and was approved. Just today, I also applied for a Hilton card that showed preapproval, and was approved.

So, based on my limited experience that may not apply to other people or situations, I think Amex prequalifications are "for entertainment purposes only," but Amex preapprovals are solid. JMO, good luck!

[Anonymous]

Not sure why Equifax is being talked about in an Amex thread.

Amex pretty much exclusively cares about your Experian report.

[KJinNC]

---

@Anonymous wrote:
Not sure why Equifax is being talked about in an Amex thread.

Amex pretty much exclusively cares about your Experian report.

---

The only reference I can find in this thread to Equifax is someone saying he needs more cards because one of his cards isn't on all three reports.

[Remedios]

---

@KJinNC wrote:

---

@Anonymous wrote:
Not sure why Equifax is being talked about in an Amex thread.

Amex pretty much exclusively cares about your Experian report.

---

The only reference I can find in this thread to Equifax is someone saying he needs more cards because one of his cards isn't on all three reports.

---

I looked for that elusive reference myself 🤷‍♀️

Amex has on occasion pulled another CRA in addition to EX for borderline approvals. It's not frequent, but it happens. 

I believe  @Brian_Earl_Spilner  ended up with additional TU HP 

[Brian_Earl_Spilner]

---

@Remedios wrote:

---

@KJinNC wrote:

---

@Anonymous wrote:
Not sure why Equifax is being talked about in an Amex thread.

Amex pretty much exclusively cares about your Experian report.

---

The only reference I can find in this thread to Equifax is someone saying he needs more cards because one of his cards isn't on all three reports.

---

I looked for that elusive reference myself 🤷‍♀️

Amex has on occasion pulled another CRA in addition to EX for borderline approvals. It's not frequent, but it happens. 

I believe  @Brian_Earl_Spilner  ended up with additional TU HP 

---

Yup.

It was recently discovered that Amex was soft pulling other bureaus even though they were only hard pulling EX for most people. Seems that everyone is a code away from double pulls.

[Anonymous]

My personal DP's. In July 2017 I applied for my very first Amex card, the BCE. My SL was $1,500.  With a CS of about 740. Take note that back then I didn't know what I do now. So I didn't utilize the card very much, and when it came time for a 3C CLI at 61 days. I only got an increase to $2,600 or 3K, don't really remember exactly. Today That card would possibly be $30K CL if i hadn't robbed it for other card's CL. So it's only $10K CL right now, Since then though I have applied for the Gold and Delta Gold. Around 6 months later I apped for the ED card and it's @ $14K CL. back in March I apped for Marriot Bonvoy at $10K SL, then about May/June apped for BBP with $9,500 SL. 

Total combined CL with Amex are currently about $40K, which might be higher if I was more aggressive with CLIs. 

So even if you are so-called bucketed, as long as you have a decent CR and use your cards wisely, they can grow quicker than you realize.

As someone said, you're usually bucketed due to something on your CR holding down your score. But if your low scores are only due to having young and thin file, that's relatively nothing

[Remedios]

Well, considering OPs oldest card is six months old, I would really not expect more than $500-$1000.00 

If you OP wants to make sure they get a better SL, they should garden for another 6 months to a year if they want to ensure they get a SL they can work with.   

[Anonymous]

---

@MrCreditInternational wrote:
My strategy is different than what you'd find online. My goal was to get as many cards as possible in the beginning and then garden for a year or two until the inquiries fall. That way I can always have high AAoA. It wasn't easy and I made many mistakes, but I'd be happy to help you as well!

I included my tuition in my income so in total I say that I make around 97k a year.

---

I'm sure that tuition is not income; and falsely claiming that it is could eventually cause you problems.   Although it isnt prosecuted often, lying on a loan application is a federal crime.

[simplynoir]

---

@Anonymous wrote:

---

@MrCreditInternational wrote:
My strategy is different than what you'd find online. My goal was to get as many cards as possible in the beginning and then garden for a year or two until the inquiries fall. That way I can always have high AAoA. It wasn't easy and I made many mistakes, but I'd be happy to help you as well!

I included my tuition in my income so in total I say that I make around 97k a year.

---

I'm sure that tuition is not income; and falsely claiming that it is could eventually cause you problems.   Although it isnt prosecuted often, lying on a loan application is a federal crime.

---

I agree. Unless it's income as it relates to grants, scholarships, and so on I would not put student loans as income. I'd assume banks consider that money you have to repay to someone else which is a no-no.

[MrCreditInternational]

I actually do have a scholarship, and my banker said I can include it