The American Express "Apply With Confidence" tool is a groundbreaking feature launched in 2022 that allows potential cardholders to check their eligibility for specific American Express credit cards without affecting their credit score. Unlike traditional preapproval and prequalification methods that only provide a general idea of approval odds, this tool offers a definitive answer—either an approval or a denial—based on a soft credit check. This means applicants can avoid the anxiety of hard inquiries and potential credit score drops, especially when preparing for significant financial decisions like mortgages or car loans. The tool is specifically designed for first-time American Express applicants and is not available for existing cardholders, who typically receive targeted offers without hard inquiries. The process is straightforward and user-friendly, guiding applicants through a few simple steps to determine their eligibility before committing to a hard credit check. Overall, the Apply With Confidence tool exemplifies American Express's commitment to transparency and consumer-friendly practices in the credit card application process.
Read the full article here.