Yesterday my wife received a "preapproved membership certficate" for an Amex gold. It said she was receiving this because of the excellent way she is handling her personal finances. We both laughed about this because recently she was turned down for a credit limit increase on her $200 MBNA Visa because of "insufficient credit references." Her credit history should be perfect (we haven't looked, and you know what the CRAs can do), but it's short and limited. It's mainly a handful of retail cards; the oldest goes back about a year, and her highest limit is $800. Her only bankcard is the MBNA Visa. So, why is she getting this? (We're not even sure her income would qualify her for a gold card.) A preapproved green card offer we could understand ... but gold? Is there anyway she could use this to get a limit increase from MBNA?
SHyguy I believe Amex requires 12 month history for 2 tradlines and higher products require 24 month history, but Saar and others may know better. Funny thing thought JCPenney denied a credit line increase for me, then I get Amex card. Also JcPenney pulled Equifax which I know now is 677 and they denied me. Thankfully I closed this account as soon as it happen. I am just pointing out the some banks flat out deny you but others view your report differently, atleast Amex found my credit to be acceptable while Penney's didn't, go figure. But I do think she needs more established credit for the gold card, you may call them up and asks if you could qualify for the green?? Mom
AMEX require 20K minimum for their gold card.Many creditor's are looking for 24 to 36 months worth of on time payments before considering your application for credit.Can you use this to get a limit increase with MBNA?No, because MBNA is strict on their credit line increases to many.
amex will give you a gold charge card with about 9 months of history, with perfect credit, at least 2-3 cards, and reasonable ($50K/yr) income. They are very easy to get, they will send you a pre-approved offer if they mean it. I believe the score for the amex charge products is about 640-650 with 0 derogs, and not many inquiries.
I was told by amex rep you needed 12 month tradeline in good standing and scores rangeing from low to mid 600's.
I guarantee you my brother did not have 12 months of history, because he got the AA advantage at his 7 months of total credit history, then the same month got the pre-approved amex gold charge, then the next month got the card sucks i cant get one
I believe you sam, and like I have learned Amex doesn't send these out just for the heck of it. With your brothers experience she sounds like she has a shot!
I'll detail the history: Month 1: Convinced younger bro to get first credit card .. Month 1: Macy's $100 line Month 2: Parisians $200 line Month 6: Macy's to $500 , parisians to $500 month 9: Instant approval for citi AA $2000 line Month 9: Received pre-approved amex gold letter. Month 10: Received amex gold. No prior history previous to that at all. Same address 1.5 years, Same job 1.0 years. > $50K/year income. kinda sucks the young whipper snappers can get in so quick!
Shyguy, I agree with the others, Amex' pre-approvals are real pre-approvals. When does Amex decline a pre-approved application: When there are reasons other than your credit report to justify it: Insufficient income ($20K-$22K should be enough), being on their shitlist, etc. They pre-pulled her credit report (Account Review/ soft inquiry), so unless her credit has seriously deteriorated in the last couple of weeks (for ex., a collection item was inserted), it won't be grounds for denial. Saar
Amex told me a 680 was required for any of their cards. I even got turned down for the Amex Fidelity card.
