Pre-qualified credit checker on card company sites

For just about anything you want to get off your chest about credit cards.
73 posts
Battery111
Centurion Member
Centurion Member
 
Posts: 284
Joined: Wed Apr 09, 2014 9:40 pm
Location: Lawton, ok

Postby Battery111 » Thu Nov 27, 2014 1:13 pm

p51 wrote:My fault, I should have worded that better. I understand that both are charge cards & not revolvers. What I meant was that even though both are charge cards, which are supposed to be easier to get than revolvers, I've read that the Green should be easier to get than the PRG.


Let me just pile on a bit more to complicate your decision. Anecdotal evidence suggests that as far as revolvers go, the Delta AMEX is supposed to be the easiest one to get. A lot of people have said they were approved with scores around your level. I only bring this up because it seems like your ultimate goal is an AMEX revolver. Still, I would personally go for the charge card first in your shoes.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa


p51
Centurion Member
Centurion Member
 
Posts: 100
Joined: Sat Nov 15, 2014 11:11 pm
Location: Boston, MA

Postby p51 » Thu Nov 27, 2014 1:38 pm

Battery111 wrote:That's pretty accurate. Truth is your credit score could go either way with an Amex approval. I was about where you are score wise when I got my green, and my score improved with the extra account. However, I had more available revolving credit at the time, so I'm guessing you would initially take a hit.

But, six months from now after putting a good amount of spend on a charge card every month and paying it off responsibly, I'm guessing not only will your score be higher, but because of your internal history with amex you would have great approval chances for a revolver, which will then be backdated. And if they say no, at least it will be a soft pull and not hurt your score.


Thanks so much for sharing. I'm thinking that I may pull the trigger tonight & stop waiting for the "perfect" time. At least I'll know where i stand, whatever they decide. I'm gonna try for the PRG.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

Battery111
Centurion Member
Centurion Member
 
Posts: 284
Joined: Wed Apr 09, 2014 9:40 pm
Location: Lawton, ok

Postby Battery111 » Thu Nov 27, 2014 1:42 pm

p51 wrote:Thanks so much for sharing. I'm thinking that I may pull the trigger tonight & stop waiting for the "perfect" time. At least I'll know where i stand, whatever they decide. I'm gonna try for the PRG.


Awesome. With that repo gone I think you have great chances. And the time of year works for you. PRG has a bonus and since most people' spending goes up this time of year hitting the spend requirement for the bonus is easier.

Just don't be too discouraged if you get the 7-10 day message. Frequently AMEX seems to do this just because of a glitch in the system. Unlike some issuers it is not a kiss of death and you very well may still be approved.

I wish you the best of luck. Please report back with how you did.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa

p51
Centurion Member
Centurion Member
 
Posts: 100
Joined: Sat Nov 15, 2014 11:11 pm
Location: Boston, MA

Postby p51 » Thu Nov 27, 2014 3:51 pm

Battery111 wrote:Awesome. With that repo gone I think you have great chances. And the time of year works for you. PRG has a bonus and since most people' spending goes up this time of year hitting the spend requirement for the bonus is easier.

Just don't be too discouraged if you get the 7-10 day message. Frequently AMEX seems to do this just because of a glitch in the system. Unlike some issuers it is not a kiss of death and you very well may still be approved.

I wish you the best of luck. Please report back with how you did.


Thanks for the well wishes. I will keep you posted.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Thu Nov 27, 2014 4:06 pm

Delta Gold Amex was my first Amex card and it was an instant approval with a starting limit of 2k and this was when I only had 9 months of credit history. I sure took advantage of that sign up offer. Only bad thing about this card is that you can't PC it to another product and even if you can, you have to wait 13 months to do so. Same thing with being able to move the credit limit over to another Amex card. Originally the EveryDay card was the Amex card I wanted the most but I really needed to get my foot in the door most of all before I could go for other Amex cards I actually wanted.

People have also said that the Starwood Preferred Guest card is also a way you can get in with Amex without too much difficulty.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

p51
Centurion Member
Centurion Member
 
Posts: 100
Joined: Sat Nov 15, 2014 11:11 pm
Location: Boston, MA

Postby p51 » Thu Nov 27, 2014 4:35 pm

popamode72 wrote:Delta Gold Amex was my first Amex card and it was an instant approval with a starting limit of 2k and this was when I only had 9 months of credit history. I sure took advantage of that sign up offer. Only bad thing about this card is that you can't PC it to another product and even if you can, you have to wait 13 months to do so. Same thing with being able to move the credit limit over to another Amex card. Originally the EveryDay card was the Amex card I wanted the most but I really needed to get my foot in the door most of all before I could go for other Amex cards I actually wanted.

People have also said that the Starwood Preferred Guest card is also a way you can get in with Amex without too much difficulty.


Thanks for the reply. I'm also just trying to get my foot in the door. Long standing credit goal of mine. What does pc a credit card mean?
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

Battery111
Centurion Member
Centurion Member
 
Posts: 284
Joined: Wed Apr 09, 2014 9:40 pm
Location: Lawton, ok

Postby Battery111 » Thu Nov 27, 2014 8:25 pm

p51 wrote:Thanks for the reply. I'm also just trying to get my foot in the door. Long standing credit goal of mine. What does pc a credit card mean?


PC= Product Change. Meaning to exchange your card for a related product without a new application. For example, if you were to get the green today, 13 months from now you could do a product change to a PRG. Or if you got an Everyday Preferred card today, in 13 months you could PC it for a basic Everyday card
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa

p51
Centurion Member
Centurion Member
 
Posts: 100
Joined: Sat Nov 15, 2014 11:11 pm
Location: Boston, MA

Postby p51 » Fri Nov 28, 2014 2:01 am

Battery111 wrote:PC= Product Change. Meaning to exchange your card for a related product without a new application. For example, if you were to get the green today, 13 months from now you could do a product change to a PRG. Or if you got an Everyday Preferred card today, in 13 months you could PC it for a basic Everyday card


Thanks for the explanation.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

p51
Centurion Member
Centurion Member
 
Posts: 100
Joined: Sat Nov 15, 2014 11:11 pm
Location: Boston, MA

Postby p51 » Fri Nov 28, 2014 2:08 am

I GOT APPROVED FOR A PRG!!!!! Sorry for the all caps but i'm so excited!! Getting an AMEX has been a goal for years and it has finally been realized. I couldn't even look at the computer screen once I submitted the application. Once I saw the approval I literally started jumping and screaming. I'm FINALLY on my way back.
Thank you SO much to everyone who has replied to my posts, shared their experiences, and sent positive reinforcement. I made it & now there's no more looking back.
Now what to do with my secured Capital One card from May 2012? Up until a few minutes ago, it was my only card. Should i keep it open or 86 it? Look at me, an AMEX cardholder for 10 minutes & i'm already talking about my next move.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

User avatar
PlyrStar93
Centurion Member
Centurion Member
 
Posts: 410
Joined: Wed Jun 04, 2014 1:06 pm
Location: Chicago

Postby PlyrStar93 » Fri Nov 28, 2014 2:48 am

That's very good news p51, and thanks for keeping us updated about your approval. Now you will have to use responsibly and pay charges made on the card in full each month, so that you will have some good history with Amex.

It is usually wise not to keep cards with unnecessary fees (especially high fees) to save money. You might be thinking of getting your deposit back and no longer pay for that card, so you could choose to close it eventually.

Honestly, I can't tell what will happen to your score if you close the secured card right away, since that is your only revolving account now. Closing the card means you cut that available credit away while your Amex charge account does not factor into utilization and available credit. I would like anyone who has knowledge about this to clarify and correct me if I ever made any mistake, and this is something I need to learn.

But nothing is wrong when you use credit responsibly. A charge card with good history should have positive effect on your credit profile.

As of your credit history, it is not a concern, as the closed account stays on the report for 10 years, and AAoA will not decrease due to the closure. If you don't want to waste money on that secured card, then you can certainly close it.

What I would do in this situation is to see when the annual fee on the secured card is due. If you would like to apply for another revolver soon and the secured annual fee is due some months after today, there is not much harm if you keep it for a while and close it right after you get a new revolver. This takes some extra effort as you have to monitor it for fraud, but an open revolving account might help a little bit with getting approved for another, just in case.

However, you are never required to keep the secured card after another revolver. Keeping the secured card might simplify new application, but it wouldn't be too hard if you don't. For the sake of money you can always close it at any time, especially if you need the deposit back and/or don't want to pay annual fee for another year. Shouldn't affect your ability to get another revolving account if you close it now.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests