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Discussion in 'Credit Talk' started by steve, Mar 29, 2001.
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I heard all Amex cards approval requirements are all the same. If you want them not to check the employment and other vertification, you have to wait for the pre-approval from the credit bureau. They don't check any employment and they only check credit. If your credit check ok., they sent out the card.
Actually, each AMEX card has different approval requirements. Are you telling me that "ALL AMEX cards approval requirements are the same????" That is pretty inclusive. Not sure what your sources are, but I work for AMEX and it should be common sense that considering that AMEX offers over 40 different card products, at least one of them would be different.
First, the charge cards (pay in full) have different criteria than credit cards (pay over time). Furthermore, within those families, i.e. the charge cards, the personal, gold, platinum, and centurion cards each have different income requirement, FICO score requirements, credit history, and inquiry requirements. That is what seperates a card from the other and makes one more "prestigous" than the other.
Second, the same applies to the credit card family. Optima classic, Delta cards, and Optima Platinum and Blue have similiar requirements, but some things vary (i.e. income and FICO score). To say that the requirements for Optima classic and Optima platinum are the same is quite funny considering that the minimum line of credit on a classic Optima is $500 and for the Optima platinum it is $2000----with that in mind, would it not be resonable to assume that because they have different credit limits that the requirements for approval would be different?
To answer the question--the classic optima is easier to get than Blue and Optima platinum (although both have the same requirements, however, your exact FICO score and other credit criteria determine what interest rate you get and line of credit)
Finally, it is misleading to say that if you receive a pre-approval that they do not check employment. This is not true! They can and will check employment and income on almost any application--especially if you are a first time member to AMEX. A pre-approval means nothing and if you read the fine print, it says that they can run another credit check and verify employment if deemed necessary. Pre-approvals mean nothing and are basically an invitation to apply for the card--it is a marketing technique to increase card base.
Re: To Jason - Re: AMEX Cards
Jason, since you work for AMEX, I have a question for you. My wife and I had AMEX green and Optima cards about 8 years ago. We filed Chapter 7 in '93 and our obligations on those cards were fully discharged. We are now restoring our credit, and our ultimate goal is to get another AMEX green card. Various people here have told me that to do that, we would have to do two things: (1) have a minimum FICO score of 630, and (2) pay off our discharged debts to AMEX. Is this correct? If so, how can I find out what we owe on the old accounts? I tried calling a zillion different people at AMEX, spending nearly 2 hours doing so, and got absolutely nowhere. Can you help me? I'd like to get in touch with a live person who knows what is going on and can give me the true story as to exactly what we have to do to get the card again. Help! If you'd like to continue this discussion off list, please let me know and I will give you my email address. Thanks for your help.
Re: To Jason - Re: AMEX Cards
See my response on cardtrack, thanks