Terms and conditions apply to American Express benefits and offers. For more information, visit americanexpress.com.
When you apply for a credit card, the issuer conducts what is called a hard inquiry (hard pull) of your credit report. Each hard pull temporarily lowers your credit score by a few points for up to one year and typically stays on your credit report for two years.
It’s beneficial to avoid unnecessary credit checks by only applying when you’re sure your application will be approved. Many credit cards offer pre-approval or pre-qualification, but that doesn’t guarantee approval. However, with certain American Express cards, the Apply with Confidence feature lets you go a step further and know if your application will be approved before a credit check is run on your credit reports.
CNBC Select explains how this feature works and what alternative credit cards you should consider if you don’t get one of the best Amex cards.
Check your chances of getting Amex approved without damaging your credit score
How to use this feature
Check if you are eligible for an Amex card without a A hard credit check is easy. Apply for your credit card as usual and Amex will let you know if you can get the card with a soft credit check. A hard credit check will only be done if you choose to accept the card.
When this feature is available, you will see a message similar to the one below at the top of the application confirming that you can proceed without affecting your credit score.
After completing the application, click the blue “Next” button at the bottom of the page.
For business card applications, you’ll immediately see a pop-up letting you know if you’re eligible for the offer and asking if you want to accept it. For personal card applications, you’ll be taken to a page where you can review the terms before proceeding. You’ll also get a pop-up letting you know if you’re eligible for the card’s welcome offer, as Amex typically limits you to receiving the welcome bonus once per card type per lifetime.
Only when you click “Continue and Submit” on the final pop-up window will your credit be checked and the hard inquiry added to your credit reports. However, you can cancel the application at any time beforehand without affecting your credit.
Which Amex cards does this feature apply to?
American Express® Gold Card
On the secure American Express site
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Rewards
Earn 4X Membership Rewards® points per dollar spent on restaurant purchases worldwide, on purchases up to $50,000 per calendar year, then 1X points for the remainder of the year. 4X Membership Rewards® points per dollar spent at U.S. supermarkets, on purchases up to $25,000 per calendar year, then 1X points for the remainder of the year. 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or through amextravel.com. 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked through AmexTravel.com. 1X Membership Rewards® point per dollar spent on all other eligible purchases.
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Welcome Bonus
Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases with your new Card during the first 6 months of your Card membership. Plus, earn 20% back in statement credits on eligible purchases at restaurants worldwide during the first 6 months of your Card membership, up to $100 back. Limited time offer. Offer ends 11/6/24.
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Annual fee
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Introduction of APR
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Regular annual percentage rate
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Balance transfer fee
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Foreign assignment fee
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Credit required
Alternative cards if you are not accepted by Amex
Credit One Bank® Wander® American Express® Card
On Credit One’s secure website
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Rewards
10x points on eligible hotels and rental cars booked through travel partner Credit One Bank; 5x points on eligible travel, including flights, dining and gas purchases; 1x points on all other purchases
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Welcome Bonus
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Annual fee
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Introduction of APR
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Regular annual percentage rate
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Balance transfer fee
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Foreign assignment fee
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Credit required
Average to excellent creditworthiness
If you’re at least 18 years old and enrolled in an eligible college or university, Discover it® Student Cash Back is a great way to build your credit profile and earn rewards. You’ll earn a whopping 5% cash back on the first $1,500 in total purchases after you enroll in categories that rotate quarterly, and 1% on everything else. With a new Discover it Student Cash Back card, you’ll also receive 0% introductory interest on purchases for six months (after which a variable APR of 18.24% to 27.24% applies). There’s a 3% introductory balance transfer fee, up to a 5% fee on future balance transfers (see terms)*.
Discover it® Cashback for students
On the safe side of Discover
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Rewards
Get 5% cash back on everyday purchases at various stores you shop at each quarter, like grocery stores, restaurants, gas stations, etc., up to the quarterly maximum when you activate the offer. Plus, get unlimited 1% cash back on all other purchases – automatically.
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Welcome Bonus
Discover doubles the total cashback of all new cardholders at the end of the first year
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Annual fee
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Introduction of APR
0% for 6 months on purchases
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Regular annual percentage rate
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Balance transfer fee
3% introductory fee for balance transfers, up to 5% fee for future balance transfers (see terms and conditions)*
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Foreign assignment fee
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Credit required
ExperianBoost™
On Experian’s secure website
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Cost
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Average increase in credit score
13 points, but the results vary
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Credit report affected
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Credit scoring model used
Results may vary. Please see website for further details.
Consider linking your card to an Amex bank account
If you want to simplify your financial life by keeping your card and bank accounts under one roof, American Express offers you checking and High-yield savings account options.
The American Express® Rewards Checking Account offers a 1.00% annual interest rate and no monthly maintenance fees. Plus, you earn Membership Rewards points on eligible purchases made with the debit card (one point for every $2 of eligible spend).
American Express® Rewards Checking Account
American Express National Bank is a member of the FDIC.
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Monthly maintenance fee
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Minimum deposit to open
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Minimum balance
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Annual Percentage Rate (APY)
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Free ATM network
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Reimbursement of ATM fees
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Overdraft fee
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Mobile check deposit
Click Here to view the terms and conditions.
Conclusion
Applying for a credit card that you have already been approved or pre-qualified for is a good idea because it reduces the risk of having to go through a hard inquiry on your credit card. credit report while your application is denied. The problem is that with most issuers, a pre-approved card offer doesn’t guarantee approval. But with American Express, you can usually apply and know for sure if you qualify for a card’s welcome offer.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice to help them make informed decisions about their money. Each credit card story is based on in-depth reporting by our team of experienced writers and editors with extensive knowledge of credit cards Products. While CNBC Select receives a commission from our partners for many offers and links, we create all of our content without input from our commercial team or outside third parties and pride ourselves on our journalistic standards and ethics.
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*Results may vary. Some may not see improved scores or approval chances. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.
For prices and fees of American Express® Gold Cardon Here.
For Discover it® Student Cash Back prices and fees, please click here Here.
Editor’s note: The opinions, analyses, reviews or recommendations expressed in this article are solely those of the editorial staff of Select and have not been reviewed, approved or otherwise endorsed by any third party.
