Got a pre-selected letter to apply, should I do it?

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MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Jul 29, 2012 6:31 am

Odds are it needs a manual review. With Amex that could go either way it's not an automatic denial like with some other banks. I honestly think there is no way you would have gotten BCP with mid 600s it just isn't going to happen and would have been a wasted inquiry. Green is possible, though I wouldn't bet money on it.

Pre-selected means they've been softing your report and marketing thinks you may fit their profile I believe. I got a "pre-approved" offer from them in 2011 that they immediately declined when I applied, then a year later I had "pre-selected" and that was approved. It really doesn't mean much at all except they would like to invite you to apply.


JayS10
Gold Member
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Posts: 37
Joined: Thu Jul 05, 2012 9:52 am
Location: Phoenix, AZ

Postby JayS10 » Sun Jul 29, 2012 10:03 am

We'll see. If it gets declined then it gets declined. I'll just have to wait and keep improving my score little by little, will be calling promptly tomorrow morning.
CK

In the Wallet:
Amex Platinum - NPSL (daily)
Capital One Cash Rewards (Builder CC) - $500CL
Best Buy - $2000CL (Increased 9/2013)
Express - $250CL (Builder)

Goals:
700+ Credit Score Across the board
Chase Sapphire Preferred - $5000+ CL (Secondary)
Bestbuy - $5000+ CL

JayS10
Gold Member
Gold Member
 
Posts: 37
Joined: Thu Jul 05, 2012 9:52 am
Location: Phoenix, AZ

Postby JayS10 » Mon Jul 30, 2012 11:16 am

So should I wait 7-10 days and show you guys......?

Nah! I'll just leave this here.

Image
CK

In the Wallet:
Amex Platinum - NPSL (daily)
Capital One Cash Rewards (Builder CC) - $500CL
Best Buy - $2000CL (Increased 9/2013)
Express - $250CL (Builder)

Goals:
700+ Credit Score Across the board
Chase Sapphire Preferred - $5000+ CL (Secondary)
Bestbuy - $5000+ CL

JayS10
Gold Member
Gold Member
 
Posts: 37
Joined: Thu Jul 05, 2012 9:52 am
Location: Phoenix, AZ

Postby JayS10 » Mon Jul 30, 2012 3:36 pm

excited for my card to arrive!
CK

In the Wallet:
Amex Platinum - NPSL (daily)
Capital One Cash Rewards (Builder CC) - $500CL
Best Buy - $2000CL (Increased 9/2013)
Express - $250CL (Builder)

Goals:
700+ Credit Score Across the board
Chase Sapphire Preferred - $5000+ CL (Secondary)
Bestbuy - $5000+ CL

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jul 30, 2012 4:39 pm

Congratulations!

JayS10
Gold Member
Gold Member
 
Posts: 37
Joined: Thu Jul 05, 2012 9:52 am
Location: Phoenix, AZ

Postby JayS10 » Tue Jul 31, 2012 2:47 pm

Thanks! Forgot to ask does it come with a pre-set limit?
CK

In the Wallet:
Amex Platinum - NPSL (daily)
Capital One Cash Rewards (Builder CC) - $500CL
Best Buy - $2000CL (Increased 9/2013)
Express - $250CL (Builder)

Goals:
700+ Credit Score Across the board
Chase Sapphire Preferred - $5000+ CL (Secondary)
Bestbuy - $5000+ CL

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Jul 31, 2012 3:13 pm

No. Only the Zync may be given a preset limit if you are marginal. Out of the gate your Green is "NPSL". Of course you do have an internal limit, but don't go crazy on the "check your spending ability" button or you could risk attracting their attention in a way you won't enjoy (Financial Review).

JayS10
Gold Member
Gold Member
 
Posts: 37
Joined: Thu Jul 05, 2012 9:52 am
Location: Phoenix, AZ

Postby JayS10 » Tue Jul 31, 2012 3:50 pm

Thanks for the Info. I will speak to Amex when I activate my card. My monthly spending limits should not exceed $1500 or so depending on if I'm traveling and I do not have any large purchases coming up.
CK

In the Wallet:
Amex Platinum - NPSL (daily)
Capital One Cash Rewards (Builder CC) - $500CL
Best Buy - $2000CL (Increased 9/2013)
Express - $250CL (Builder)

Goals:
700+ Credit Score Across the board
Chase Sapphire Preferred - $5000+ CL (Secondary)
Bestbuy - $5000+ CL

JayS10
Gold Member
Gold Member
 
Posts: 37
Joined: Thu Jul 05, 2012 9:52 am
Location: Phoenix, AZ

Postby JayS10 » Wed Jul 17, 2013 5:28 pm

Just an update to this, I've had a good year with my green card. Called to inquire about updating and turns out I was able to update a bit earlier. I went for the platinum as I will be traveling quite a bit towards the end of this year and decided to give it a go to see if its worth it for me.

Pretty excited!!!
CK

In the Wallet:
Amex Platinum - NPSL (daily)
Capital One Cash Rewards (Builder CC) - $500CL
Best Buy - $2000CL (Increased 9/2013)
Express - $250CL (Builder)

Goals:
700+ Credit Score Across the board
Chase Sapphire Preferred - $5000+ CL (Secondary)
Bestbuy - $5000+ CL

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Wed Jul 17, 2013 6:50 pm

Congratulations to you again! Enjoy your new Plat!



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