American Express Apply With Confidence Review: How It Works
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Credit cards are one of the best ways to pay for goods and services if you stay on top of debt. I know that every purchase I make with a credit card will improve my credit score and earn points that I can later redeem for rewards. However, applying for a credit card can hurt your credit score in the short term, even if you don’t get approved. And every ding can bring down your points that count when applying for a mortgage, car loan or personal loan.
American Express recently launched a service called Apply With Confidence. The resource allows consumers to discover if they will get approved for a credit card before applying without hurting their credit score. It can provide greater peace of mind to applicants and minimize the credit score impact of applying for a card.
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What is American Express Apply With Confidence?
American Express Apply With Confidence is a new feature that lets users apply for a credit card and discover if they’re approved without impacting their credit score. American Express uses a soft credit pull to determine if you qualify for a card. Then, if approved, you can accept the credit card, and American Express will conduct a hard credit inquiry before giving you a card.
I avoid hard credit inquiries as often as I can. A credit card is worth it for many people because of the rewards and how on-time payments can improve your credit score. Reassurance from American Express can make credit card applications less burdensome for your credit score. A single hard inquiry with virtually guaranteed approval is easier to navigate than submitting multiple credit card applications and hoping one gets accepted.
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- Approval in as few as 24 hours
- Calculate your payment without impact on credit score.
- Business loans focused on the needs of busy professionals.
- Terms up to 12 years.
- Business loans typically range from $20,000 to $250,000.
How does American Express Apply With Confidence work?
The American Express Apply With Confidence tool is available for first-time applicants for an American Express personal card based in the U.S. I am not a fan of having more than one credit card, and I like that the tool focuses on first-time credit card applicants. However, if you want several credit cards with various rewards programs, don’t worry. American Express plans to roll out this feature to current American Express cardholders who want another personal card. Even then, American Express rarely conducts hard credit inquiries on existing members who want an additional credit card. This tool is mainly for people seeking their first American Express card.
You can follow these steps to submit an application for an American Express Card with the Apply With Confidence tool:
- Apply for a personal credit card on the American Express U.S. Credit Card website
- Browse the options and click on the credit card for you.
- Enter the requested information (full name, email address, date of birth, SSN, etc.).
- Use Apply With Confidence when submitting your application.
American Express will process your application and use a soft credit inquiry which will not affect your score. If approved, American Express will invite you to accept your card. This step will involve a hard credit inquiry which can impact your score, but you are practically guaranteed to get the card. You can opt against accepting your credit card if you want to avoid a hard credit inquiry. American Express gives you the option but not the obligation to get the card.
How much does American Express Apply With Confidence cost?
The American Express Apply With Confidence tool is free to use. Aspiring AMEX cardholders can use the tool to get more certainty about their application, and it will soon become available for current AMEX members. Apply With Confidence makes it easier for consumers to obtain AMEX cards, which means the company can make money with interest, credit card fees, and transaction fees. You can avoid most of these fees by paying credit card debt on time, and you should only get a card if you can make that commitment. Otherwise, a credit card can become more trouble than it’s worth.
Who is the American Express Apply With Confidence tool best for?
Aspiring credit cardholders who want to get started will benefit the most from this tool. You won’t have to worry about accumulating unnecessary hard credit inquiries. You only need a single hard inquiry to get an AMEX card, and they’ll let you know if you’re approved in advance.
Affordable Loans by BHG Money
- Approval in as few as 24 hours
- Calculate your payment without impact on credit score.
- Business loans focused on the needs of busy professionals.
- Terms up to 12 years.
- Business loans typically range from $20,000 to $250,000.
Who shouldn’t use the American Express Apply With Confidence tool?
This tool isn’t the best for current AMEX cardholders. Since American Express rarely conducts hard credit inquiries on existing members, you don’t have to add an extra step to the process. The feature is unavailable for current AMEX cardholders, but American Express plans to roll it out. However, AMEX members don’t need to use this tool. It won’t hurt a current cardholder to try this tool when it’s available, but it barely helps.
Pros and cons
Pros
- You will only receive a hard inquiry if your application gets approved and you accept your card.
- The Apply With Confidence tool blends with the application process. Using this tool does not require additional time.
- Apply With Confidence helps aspiring credit cardholders minimize damage to their credit scores.
Cons
- You still have a hard credit check waiting if you get approved and accept your card.
- Current cardholders do not have access to the feature.
- Since AMEX does not make hard inquiries on most existing members, the feature is irrelevant for AMEX cardholders.
American Express vs. competitors
The American Express Apply With Confidence tool helps aspiring credit cardholders, but it’s not the only game in town. Many credit card companies have similar tools that let applicants know if they will get approved via a soft credit pull. You can escape the hard inquiry and only use it when you know you will get approved.
Credit Card Company | Preapproval | Hard inquiry after preapproval | See which cards you qualify for |
|---|---|---|---|
American Express | Yes | Yes | Yes |
Capital One | Yes | Yes | Yes |
Discover | Yes | Yes | Yes |
It’s better to compare credit cards based on their interest rates, fees, rewards programs, and other features. Many credit card issuers have a tool similar to American Express’ Apply With Confidence.
FAQs
Can you get an American Express credit card without a hard inquiry?
American Express conducts hard credit inquiries for new members. However, the company does not conduct hard inquiries on members applying for an additional card. You will have to contend with a hard credit inquiry when getting your first credit card, but after that, most members won’t have to worry about a hard inquiry.
Does pre-approval guarantee approval?
Pre-approval is not a guarantee, but it makes it extremely likely you will get accepted for the credit card. A credit card issuer can find something they don’t like when making a hard inquiry, but this is rare for people who got pre-approved.
How long can I wait to accept my credit card?
Most pre-approved credit card offers last 90 days. Credit card issuers cannot have indefinite pre-approval windows because a consumer’s finances can substantially change in a few months or years. If you accept your credit card within that time frame, you should be good to go.
Can I use Apply With Confidence if I already have an American Express credit card?
Right now, only incoming members can use Apply With Confidence. American Express will roll out this feature to members soon.
Should current members wait for Apply With Confidence before applying for a new card?
You shouldn’t wait for this tool to become available if you are an AMEX member who wants another credit card. American Express typically does not conduct hard inquiries on its current members, so you won’t have to worry about losing points on your credit score. People primarily use Apply With Confidence to avoid a hard inquiry that would result in a rejected application.
Does Apply With Confidence increase my chances of getting a credit card?
Apply With Confidence does not increase the likelihood of getting accepted for a credit card. This tool lets you input data and then provides information on which credit cards you could obtain. It doesn’t help or hurt your likelihood of applying, but it gives you an idea of where you stand. This knowledge can help you avoid unnecessary hard credit inquiries.
Will Apply With Confidence hurt my credit?
Apply With Confidence will not impact your credit score because AMEX uses a soft pull for this process. If you accept the approved card, American Express will conduct a hard credit inquiry which may affect your score. American Express does not use hard inquiries for current members.
Affordable Loans by BHG Money
- Approval in as few as 24 hours
- Calculate your payment without impact on credit score.
- Business loans focused on the needs of busy professionals.
- Terms up to 12 years.
- Business loans typically range from $20,000 to $250,000.
The bottom line
Apply With Confidence helps aspiring credit cardholders get started with American Express. This tool can protect your credit score by revealing your approval status before commencing with the hard credit inquiry. This certainty will minimize credit card applications, resulting in fewer hard inquiries. You will need a strong credit score for mortgages and other financial products. Apply With Confidence makes sure excessive credit card applications don’t stand in your way. You can use a credit card to strengthen your score with a good payment history. Apply With Confidence is great for the aspiring cardholder. However, current members don’t need it since AMEX doesn’t run hard credit checks when current members apply for additional credit cards.
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Writer
Marc Guberti is a business freelance writer who specializes in personal finance, digital marketing, and entrepreneurship. His award-winning book "Content Marketing Secrets" teaches readers how to create, promote and optimize content for growth and revenue. Marc also hosts the "Breakthrough Success Podcast," where listeners learn how to master content marketing and get more clients.
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