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!