amex prequals suck!

Anonymous · ‎08-21-2019

some people see amex prequals with a starting limit, but my prequals don't show it. i called up amex and they say they can't do prequals on the phone or look it up for me. is there any way to be sure i won't get a toy limit card?

(theres tons of $500-$1000 approvals for the BCE card on here, they're bucketed and never get approved for a 3x CLI.)

FinStar · ‎08-21-2019

Sorry to hear about your frustrations, but typically these types of pre-qualified offers (those that display a prospective SL or APR) do not always display as such for all individuals. So, calling AmEx is a futile effort as these are only available online and the agents are not able to "trigger" those for you.

You'll just need to exercise patience and periodically check when those can become available for your profile. Otherwise, you can always apply directly for the card that you're particularly interested, pre-qualifications are not always necessary.

Anonymous · ‎08-21-2019

Showing a potential limit is a relatively new thing for Amex.

(personally these seem to be low ball offers that are potentially bucketed as well w/ borderline profiles)

I never for any pre-app's from them over 10-15 years and finally just cold app'd them a few years ago and got an instant apporval for 10K that bloomed into 50K in very short order. So, regaardless of the pre-app results... if you want it you have to roll the dice to get it.

Anonymous · ‎08-21-2019

I've never had a prequal with a prospective SL. Even once I was in with them.

I would suggest working on you CR profile to improve you chances, or "opt-in" to get prequal offers.

CreditInspired · ‎08-22-2019

@Anonymous wrote:
some people see amex prequals with a starting limit, but my prequals don't show it. i called up amex and they say they can't do prequals on the phone or look it up for me. is there any way to be sure i won't get a toy limit card?

(theres tons of $500-$1000 approvals for the BCE card on here, they're bucketed and never get approved for a 3x CLI.)

Hi there,

Prequal is just that--a prequalification to see if your credit profile fits one of their products. So AmX prequal really doesn't suck.

And yes, there are way to ensure against getting toy limits:

having good FICO scores
having no late payments on your credit reports
having no BK, liens, judgements, collections on your credit reports
having low UT
having few new inquires in the last 12-24 months
having DTI align

GL2U

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K

SarahJo · ‎08-22-2019

Just my experience...my “toy limit” of $500 has grown to $30,000. If it’s a card that works for your spending and you work the steps responsibly it should grow.

Present Day...Equifax: ???, TransUnion: 777, Experian: 781
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597

MrCreditInternational · ‎08-22-2019

What worked for me was applying for the gold first in December. In May I was approved for their Schwab card for 15k and in June I was approved for the Delta Platinum for 10k. I recently moved most of the Delta card limit to the Schwab card as I never use the Delta card and only have it for the SUB and status.

I agree with everyone else, just apply for the card that fits your spending (in my case it was the gold) and it'll grow with time.

Current open cards:
Schwab Amex Platinum (NPSL); Amex Gold (NPSL); HH Aspire ($31,700); Amex BBP ($27,000); HSBC Premier WMC ($21,500); USB Altitude Reserve ($20,000); USB Altitude Reserve ($10,000); WF Bilt MC ($9,400); Chase Freedom ($7,300), BofA Premium Rewards ($5,000); Apple Card ($4,750); BofA Alaska Visa ($4,200); USB Altitude Go ($1,000)

Started collecting cards: Oct/2018

Anonymous · ‎08-22-2019

my credit is spotless and i have a 717ex/733tu score but the history is short. 6mo old mastercard, 3mo old discover.

i am opted into offers, i have an offer from cap1 for the venture w/ 5k+ starting limit. creditOne is giving offers w/ a 2k limit.

i was planning to get an amex BCE and a paypal 2% mastercard, but if they will end up as bucketed cards i don't want to do that.

i really need to add a couple cards because my equifax only shows discover.

KJinNC · ‎08-22-2019

When people talk about Cap 1 bucketing, they mean that even years later when your credit is very different and you're able to get cards from prime banks with much higher CLs, their Cap 1 card grows little if at all, because of some limitation their system has assigned to the card from back when you barely qualified for it.

When people talk about Amex "bucketing," is it really that, or is it that the same factors that led to a low CL are still present, preventing you from getting a higher CL yet? I suspect the latter, but don't have the personal experience yet to know.

FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan

Anonymous · ‎08-22-2019

@Anonymous wrote:
some people see amex prequals with a starting limit, but my prequals don't show it. i called up amex and they say they can't do prequals on the phone or look it up for me. is there any way to be sure i won't get a toy limit card?

(theres tons of $500-$1000 approvals for the BCE card on here, they're bucketed and never get approved for a 3x CLI.)

I find their prequals to be solid and a good indication of approval. as for limits that is totaly up to you and your creditworthiness at the time of approval... have not heard of card limits being bucketed but i have heard the 61day 3x cli is denied for any SL 2k and under.