AMEX App Concern

AMEX App Concern
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So, I’ve been slowly building my credit the last two years with two cards and finally got it over 700 (TU-747, Experian - 745 and Equifax - 754) but my available credit is under $10K and I keep my usage under 30% with excellent payment history. I want to increase my credit line and reduce my usage rate with a third card and heard AMEX gives a pretty decent limits so I ran a pre-approval check directly on the AMEX site and they came back with three pre-approval options: Hilton Rewards, Blue Everyday and the Platinum card. I do travel but I’m not a Hilton member so that wasn’t an option, I wasn’t crazy about the rewards for the Blue Everyday card so I went with the Platinum even though the annual fee is $550. It was a -17 point hit to my Experian report and I received a message saying AMEX is evaluating my application and will get back to me in 14 days!

Should I be concerned that I may be rejected? Would they offer me another card if they reject me for the Platinum Card? If they don’t, should I immediately apply for another card? If so, which do you recommend?

Any feedback and recommendations are greatly appreciated. Thank you!


Well, I will let the experts answer your questions regarding the card options, but I can tell you this, pre-approval doesn’t necessarily mean you will be approved. My other thought, why would you want a credit card that you have to pay 550 bucks a year for carry?

“-17 point hit to my Experian report” That’s interesting, because when I applied for a mortgage a few months back my FICO only took a 4 point hit (real number) , whereas it dropped 12 points here in NerdWallet, which I don’t consider as my real credit score.

Good luck!


Hi @jemelbuck, and welcome.

If your primary goal is to increase your credit limit and score, it might make sense to choose something other than a luxury rewards card. Credit limits are determined partly by your income and expenses. You can try asking for a higher credit limit with the cards you already have, especially if you can get one without a hard inquiry on your credit. It does not hurt to ask. And your chances will be better if there’s something that’s changed since you initially applied — an increase in income or a financial obligation that’s ended, for example.

In general, NerdWallet recommends spacing out credit applications by 6 months. When creditors check your credit for purposes of making a decision about extending credit, it can cause a temporary dip in your score. Multiple applications in a short time can cause significant damage. It’s best to be all but certain that you will qualify before you apply.

I cannot tell you which card to apply for, but I can suggest you use NerdWallet’s card comparison tool to choose one. In the meantime, shoot for keeping utilization lower by making multiple payments so that you keep balances relative to limits ultralow — that’s the other way to lower your credit utilization.

@wleach313 is right that preapproval does not mean you’ll get approved.

Hope that’s useful. Good luck with higher limits. And let us know if we can help further.


Bev, did you see this post from about a month ago? How is this even possible?

“tpask8rAug 2
My FICO credit score was 495 on June 2017. It is now FICO 701, Vantage 643, August 2, 2019. I now have 39 credit cards totaling $157,217 credit limit. November 2018, I only had 3 cards. I put money on each card and paid it off immediately. I never have gone past 2 weeks - each paycheck - to pay my balance to zero. It is one of the most frustrating things to wait for banks to see you pay your bills on time, and before time. Everything about this credit game defies logic, but it is a game, and you have to play within the bounds of their rules. I like to push boundaries, so I try to increase my lines every month, and apply for new cards every month. I have 33 hard inquiries since November 2018, but if I followed the advice of all the youtube videos and only made 1-4 inquiries in 2 years, I would be stuck with only 3 cards still. I was cash only for 9 years, so i have it lodged in my brain that I only spend on my CC what I can payoff immediately from my checking account. I do not spend more than what is in my checking. That is how I keep my utilization at 0%, even though I put thousands through my cards each month. No charge sits unpaid for more than 2 weeks. Hope that helps. I am not a financial advisor. I just didn’t follow the normal advice and have proven that normal advice isn’t accurate.”


I did see it @wleach313. Just about every credit rule that I know of has some exceptions. I can’t say what is possible. I certainly cannot rule it out.


Hi there @jemelbuck

Having to wait while they review your application is certainly better than a flat-out rejection. It could be that their system flagged you as an “edge” case for follow up by a human analyst. At this point, all you can do is wait to see the outcome.

One note: Amex Platinum is a charge card rather than a credit card, meaning the balance is due in full each month. Because of this, it doesn’t have a preset spending limit or a “credit limit.” That means it doesn’t count toward your credit utilization ratio. Read more about that here. If you started with $10K in available credit, scoring formulas will still consider you as having only $10K in available credit for the purpose of calculating your usage rate. On the other hand, your balance on a charge card won’t affect your usage rate either. A charge card can still have an effect on your score through on-time payments and the age of the account, but the effect may be lesser than a credit card’s effect.


Pay Cash instead and have full control of your finances