What is credit card preapproval and how does it work?
If you ’ re wondering how to get preapproved or prequalified for an American Express recognition circuit board, you should know that at the core of this process is a screening procedure. Credit card preapproval takes place when a card issuer sets minimal criteria for their accredit cards and actively inform consumers that they have met their standards. Though many menu issuers use the terms “ preapproved ” and “ prequalified ” interchangeably, American Express distinguishes between them and presents both kinds of offers. With Amex, “ prequalified ” offers are cards that are tailored to an applicant ’ s credit profile based on a soft attract to their credit. You can see these offers on tools like CardMatch or on the American Express web site. Preapproved offers, on the other hand, are a tone beyond prequalified offers and signify the highest approval odds an issuer can offer without pulling your citation. These offers are a bit harder to qualify for, but besides reduce the risk that you are denied when you submit a fully application. With either preapproved or prequalified Amex offers, the issuer uses information like your income to determine if you ’ re in the target audience for a detail batting order. Both are good indicators that you will be approved when you apply, though preapproved is a slightly better find. Keep in mind that neither credit card preapproval nor prequalification guarantees you ’ ll get a rewards credit circuit board ; it only confirms you may be an excellent candidate if you meet all the requirements wag issuers set for approval. To find out for certain if you can be approved for a credit card, you ’ ll have to formally apply .
How to get preapproved for an American Express credit card
If you ’ re wondering how to prequalify for American Express credit batting order offers, there are several strategies to consider .
Check for offers on Bankrate’s CardMatch tool
first, consider using Bankrate ’ s CardMatch tool to check your eligibility for the best rewards credit cards from American Express. Using this tool will not have an impact on your accredit, and you can find out which offers you are eligible for without completing a full application first. data required for the CardMatch cock includes your name, ZIP code, home address, e-mail address, earphone numeral and the last four digits of your Social Security issue. American Express recently launched a number of preapproved offers for some of its cards. In addition to higher blessing odds, these preapproved offers could besides come with elevated railway welcome bonuses. In some cases, you could be eligible for up to 150,000 Membership Rewards points, rather of the current 100,000 point-offer, after spending $ 6,000 within six months on your newly Platinum Card® from American Express .
Prequalify on Amex’s website
American Express besides has a dedicated page on their web site for prequalified offers ( though not preapproved at the moment ). This page asks you to input your personal information before showing you any American Express credit rating cards you may be eligible for. once again, these prequalified offers from American Express only place a soft draw on your credit report, so checking your eligibility won ’ t have any impact on your credit rating.
Additional ways to prequalify for American Express credit cards
While you can use the CardMatch tool or the American Express web site to check for American Express preapprovals and prequalifications online, you may besides receive targeted accredit card offers in the chain mail. These offers can include better welcome bonuses or cardmember terms than those available to the general populace, so brand certain to keep an eye out for them .
Best American Express credit cards for preapproved offers
Some American Express credit cards save their best introductory offers for customers who are preapproved, although you may have to use the CardMatch joyride to see if you ’ rhenium eligible. American Express credit cards that are popular for preapproval include the following :
The Platinum Card® from American Express: Best for travel
- Rewards rate: 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
- Welcome offer: 100,000 points after you spend $6,000 on purchases on your new card in your first six months
- Annual fee: $695 (effective Jan. 1, 2022 for existing cardmembers)
While the $ 695 annual tip on this card is high, keep in beware all the benefits you receive. As a cardholder, you ’ ll get up to $ 200 in airline fee credits per class, up to $ 200 in Uber credits annually, a fee credit for your global introduction or TSA PreCheck application ( every four years ), airport lounge membership, automatic gold status with Hilton Honors and Marriott Bonvoy and more. Rewards earned with this card besides fall within the compromising American Express Membership Rewards program, which means you can redeem your rewards for endow cards, merchandise, travel through AmexTravel.com or even transfers to Amex airline and hotel partners. On top of all of these perks, the Amex Platinum frequently targets CardMatch visitors for a higher welcome bonus. You might score 125,000 or even 150,000 points after spending $ 6,000 in the first six months, up from the batting order ’ s distinctive 100,000 points .
American Express® Gold Card: Best for dining and travel rewards
- Rewards rate: Earn 4X points on restaurants, including takeout and delivery in the U.S., plus, earn 4X points for Uber Eats purchases and at U.S. supermarkets (on up to $25,000 in purchases per year, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com and 2X points on rental cars through amextravel.com plus 1X points on all other purchases
- Welcome offer: 60,000 points after spending $4,000 in purchases within first six months
- Annual fee: $250
The American Express Gold is a dear nibble for those who spend in life style categories like dining and travel. For the extreme point epicure that likes to cook, there ’ south besides 4X bet on on U.S. supermarket spend ( up to $ 25,000 in purchases per class, then 1X ). With this poster, you ’ ll get 60,000 points after spending $ 4,000 in purchases within the first base six months and up to $ 120 in dining credits, plus up to $ 100 in hotel credits—all of which more than justifies the $ 250 annual fee if used the right means. Like the Amex Platinum, the Gold wag occasionally offers target offers when you apply through CardMatch—so keep an eye on your matches for up to 75,000 points when you spend $ 4,000 in the first six months .
Blue Cash Preferred® Card from American Express: Best for groceries
- Rewards rate: 6 percent cash back on U.S. supermarket purchases (up to $6,000 per year, then 1 percent); 6 percent back on select U.S. streaming subscriptions; 3 percent cash back on transit; 3 percent back on U.S. gas station purchases; 1 percent back on all other purchases
- Welcome offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new card within the first six months. You will receive cash back in the form of statement credits
- Annual fee: $0 introductory annual fee for the first year, then $95
The Blue Cash Preferred® Card from American Express is one of the best credit cards for groceries due to its especial gain rate of 6 percentage cash back in this category ( up to $ 6,000 in spend per class, then 1 percentage ). not only will you earn a high rewards rate on grocery store store purchases, but you ’ ll besides earn an outright 6 percentage back on choice U.S. streaming services, 3 percentage back at U.S. gas stations arsenic well as 3 percentage back on theodolite purchases like ride-sharing, parking, trains and buses. You can besides earn a generous welcome bonus, and there ’ s no annual fee for the first year. Just remember that this cash back card lone lets you redeem your rewards for statement credits .
Blue Cash Everyday® Card from American Express: Best cash back card for families
- Rewards rate: 3 percent cash back at U.S. supermarkets (up to $6,000 per year, then 1 percent); 2 percent cash back at U.S. gas stations and select U.S. department stores; 1 percent cash back on all other purchases
- Welcome offer: Earn $200 back after you spend $2,000 in purchases on your new card within the first six months. You will receive cash back in the form of statement credits.
- Annual fee: $0
The Blue Cash Everyday® Card from American Express is one of the best credit cards for families due to its big rewards rate offered on coarse kin spend categories like U.S. supermarkets, gas stations and blue-ribbon department stores. With no annual tip and the choice to get $ 200 back after spending $ 2,000 in purchases in the first base six months, you ’ ve got an add incentive to jump-start your rewards earnings .
How to increase your chances of getting preapproved
If your goal is getting approved for any credit card, including options from American Express, the best matter you can do is keep your credit score in ace determine. generally speaking, the best credit rating card offers go to those with “ very good ” or “ excellent ” citation, or FICO scores of 740 and higher. however, you may besides be able to get preapproved with a “ good ” recognition seduce ( any FICO grade that falls between 670 to 739 ).
If you check your recognition grade and find it needs some work, you can improve it by using credit responsibly. For example, make sure you pay all your bills on meter each month and pay down debt to decrease your overall recognition use. besides, make sure you ’ rhenium not opening or closing besides many accounts at once, which are both factors that can impact your credit score .
The bottom line
American Express preapprovals aren ’ thyroxine that hard to come by if you have a good recognition mark and can prove your ability to repay. fortunately, you don ’ t have to wait around for an offer to show up in the chain mail. With Bankrate ’ s CardMatch tool, you can fill out some basic information and take matters into your own hands .