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amex prequals suck!

creds
Regular Contributor

amex prequals suck!

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.)

 

 


Message 1 of 32
31 REPLIES 31
FinStar
Moderator

Re: amex prequals suck!

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.

Message 2 of 32
Obscure-Expert
Valued Contributor

Re: amex prequals suck!

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.

500K+ TCL / 800+ FCOs
Message 3 of 32
Janus
Senior Contributor

Re: amex prequals suck!

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.






Message 4 of 32
CreditInspired
Super Contributor

Re: amex prequals suck!


@creds 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


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 5 of 32
SarahJo
Frequent Contributor

Re: amex prequals suck!

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: 771, TransUnion: 793, Experian: 778
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597
PenFed CLOC: $500
Message 6 of 32
MrCreditInternational
Frequent Contributor

Re: amex prequals suck!

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.
Amex Platinum (NPSL); Amex Gold (NPSL); HH Aspire (31.7k); Amex BBP (27k); B&H Payboo (25k); HSBC Premier WMC (14.5k); HSBC Advance (7.5k); Rakuten Visa (7.5k); HH Surpass (5k); Delta Gold (5k); Nordstrom Store (4k); Apple Card (2.75k)

Started collecting cards: Oct/2018
Inquiries: EX (11); TU (12); EQ (7)
Inquiries falling off!!!!!
Message 7 of 32
creds
Regular Contributor

Re: amex prequals suck!

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.


Message 8 of 32
KJinNC
Valued Contributor

Re: amex prequals suck!

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: 66. Cards: 14/24, 0/12, 0/6. Accounts including loans: 17/24, 1/12, 0/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $104,100, not counting the AU card. The AU card brings the total to $129,100. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 9 of 32
heavylifter
Regular Contributor

Re: amex prequals suck!


@creds 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.
Message 10 of 32
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