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How to Prequalify for an Amex Card Without Impacting Your Credit Score
August 30, 2024
Introduction
When shopping for a new credit card, one of the biggest concerns is the potential impact on your credit score. Every time you apply for a card, the issuer typically performs a hard inquiry on your credit report. These inquiries can temporarily lower your score and stay on your report for up to two years. But what if you could check your approval odds without this risk? Thanks to American Express's "Apply with Confidence" feature, you can do just that for many of their popular cards. Let's dive into how this works and why it's a game-changer for savvy credit card applicants.
How "Apply with Confidence" Works
American Express has simplified the process of checking your eligibility for certain cards without impacting your credit score.
Here's how to use this feature:
- Start your application as normal when you apply for an American Express card
- Look for a message at the top of the application stating you can proceed without impacting your credit score.
- Fill out the application and click the blue "Continue" button.
- For consumer cards, review the terms before proceeding. For business cards, you'll immediately see a pop-up about your eligibility.
- If eligible, you'll be informed about your approval status and any welcome offer availability.
- At this point, you can choose to accept the offer or cancel without any impact on your credit.
Only if you decide to accept the offer and submit the final application will a hard inquiry be made on your credit report.
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Which Amex Cards Offer This Feature?
The "Apply with Confidence" option is available for most American Express cards, including:
- Personal rewards cards like the American Express® Gold Card and Blue Cash Preferred® Card from American Express
- Business cards such as the Business Platinum Card® from American Express
- Co-branded cards like the Hilton Honors American Express Surpass® Card and Delta SkyMiles® Platinum Business American Express Card
Benefits of Using "Apply with Confidence"
There are lots of reasons to use this free feature from American Express:
- Protect Your Credit Score: Avoid unnecessary hard inquiries that could lower your score.
- Save Time: Don't waste time applying for cards you're unlikely to be approved for.
- Strategize Better: Use this information to make informed decisions about which cards to pursue.
- Reduce Stress: Eliminate the uncertainty of waiting for approval after submitting an application.
What If You're Not Approved?
If you find out you're not eligible for your desired Amex card, don't worry. Consider these alternatives:
- Look into other issuers with pre-qualification tools, such as Capital One or Discover.
- Focus on improving your credit score before reapplying. For more information on credit building strategies, visit our guide on How to Improve Your Credit Score.
- Consider secured credit cards or cards designed for building credit.
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Bottom Line
American Express' "Apply with Confidence" feature is a powerful tool for anyone looking to add an Amex card to their wallet. By allowing you to check your approval odds without risking a hard inquiry, it takes much of the guesswork out of the application process. Remember, responsible credit use is key to maintaining a healthy financial profile. Always consider your spending habits and financial goals when applying for any new credit card, and make sure you can comfortably meet the payment requirements.
Frequently Asked Questions
How does Amex pre-approval work?
Amex's "prequalified" offers are credit cards that have been loosely matched to your credit profile, but don't represent a thorough assessment of your eligibility. These offers frequently arrive in your mailbox as a result of credit card issuers collaborating with credit bureaus to identify potential candidates for their products.
Does the Amex pre-approval perform a hard inquiry on your credit?
No. Pre-approval includes a soft credit inquiry, which generally has minimal to no effect on your credit score. In contrast, when you formally apply for a card, get approved, and accept the offer, it involves a hard credit inquiry. This hard inquiry does have an impact on your credit score.
What's the easiest Amex to get approved for?
The Blue Cash Everyday® Card from American Express and the American Express Cash Magnet® Card are among the most accessible Amex cards for approval. This is because they only require applicants to have a good credit score, rather than excellent credit.
Is there a minimum credit score for Amex cards?
In most cases, you need at least good credit to get approved for an American Express card, which FICO typically defines as a score of 670 or higher. You can check the credit score requirements of American Express. cards with our explore tool for free.
How many inquiries are too many for Amex?
While there's no specific limit on the number of hard credit inquiries, submitting multiple credit applications in a brief period might flag you as a potentially risky borrower. However, when it comes to rate shopping for a specific type of loan, credit scoring models often treat these inquiries as a single event, minimizing the impact on your credit profile. This approach recognizes that consumers may be seeking the best terms for a single loan rather than attempting to open multiple new credit lines.
What income do you need to get approved for an Amex?
Your chances of approval for an American Express credit card are highest if you meet the following criteria:
- A good to excellent credit score of 700 or above
- An annual income of $50,000 or more
- A relatively low debt burden
Additionally, American Express requires applicants to:
- Be at least 18 years old
- Have a valid U.S. mailing address
- Possess either a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
Meeting these requirements can significantly improve your odds of being approved for an American Express credit card.
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