Do I have good credit because American Express sent me a letter?
I received a letter from American Express saying I’m approved and selected to get a credit card from them and no annual fee for the first year, does that mean I have good credit?
Do I have good credit because American Express sent me a letter?
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Do I have good credit because American Express sent me a letter?
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Comment by G. Whilikers
Read the wording carefully, that’s still a “maybe”. They always leave wiggle room for themselves in their sales pitches. They buy mailing lists of people who fit a certain criteria, but when they look at your actual application and credit report they might see some new information that leads them to change their mind or adjust the offer.
Comment by efflandt
Credit card companies do a lot of pre-screening (and buy lists), which does not affect your credit score, but also does not provide them with full details. It probably means you do not have bad credit, but does not necessarily mean that you meet all of their criteria, which they would not know until you actually apply and provide more information (like current employment and income).
American Express was one of the first credit cards I got on my own (without cosigner) when I first got a full time job. But it was their green card that had annual fee, required paying in full every month, and that was a long time ago (probably 1976). I canceled that years ago when other cards stopped charging annual fees.
Comment by bdancer222
No, it means you met the screening minimum requirements or have your name on a mailing list. Read that offer more carefully, you are approved and selected to RECEIVE THE OFFER to apply for the card. You are not approved for the actual account.