Is American Express card hard to get?

Yes, it's hard to get an American Express card because they all require good or excellent credit for approval. But American Express isn't the only credit card company to target people in the highest tiers of the credit score scale. Barclays and Wells Fargo do too, for example.

What credit score do I need to get an American Express card?

According to the score ranges from FICO, that means American Express applicants typically have at least a 670 score: Exceptional. 800 and above.

What is the easiest Amex card to get approved for?

When applying for the Amex Blue Card, try to have a good credit score, which is a FICO® Score of 670 or above. This is one of the easiest Membership Rewards cards to open, and even consumers with average credit scores have a decent chance of approval.

How much income do you need to get an American Express card?

If you make near $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.

Is it easy to qualify for American Express?

Although American Express doesn't specify any minimum credit score requirements, you'll need good credit (or better) to qualify, which means a FICO score of at least 670. A premium Amex card — say, the American Express Gold Card — likely requires a “very good” FICO score, somewhere in the range of 740 and above.

American Express - Easiest to Most Difficult Approval (All Cards)

Why won't American Express approve me?

American Express sends a letter to affected applicants citing why the application was denied. Common reasons an application could be denied include a low credit score, an insufficient annual income, number of open credit accounts, and more.

Does American Express approve everyone?

Check your credit score: All American Express credit cards require good credit or better for approval. That means you'll need a credit score of at least 700 to get any Amex credit card. You can easily check your current credit score for free on WalletHub.

Is owning an Amex card worth it?

Yes, an American Express card is worth it for people with good or excellent credit scores who want to earn rewards on U.S. purchases that they'll pay for in full by the due date every month. An Amex card may also be worth it for people who want an introductory low-interest period in addition to rewards.

What is the highest American Express card?

The highest level American Express card is the Centurion card, which is also known as the 'black card. ' However, it's available only by invitation from American Express, meaning you can't just apply for it as you would the other cards mentioned in this article.

Are American Express card worth it?

Yes, it is good to have an American Express credit card because Amex cards offer attractive bonus rewards on a variety of purchases for people with good or excellent credit. American Express cards also come with an array of welcome offers and introductory 0% APR promotions, in addition to a certain air of prestige.

Can I get an Amex card with a 650 credit score?

This means you need a credit score of at least 700. If you're hovering around the 700 mark, it may be best to wait to apply when your score increases as the average applicant has a score of 715. Although, some applicants have been approved with a credit score as low as 643.

Is Amex harder to get than Visa?

But in terms of comparing eligibility requirements for Visa, Mastercard, and American Express, American Express may be the hardest issuer to qualify for as most cards require applicants to have a “good” credit score of at least 670 to qualify.

Does Amex approve instantly?

Does American Express give instant approval? Yes, many times you'll be instantly approved for an American Express credit card. You may even be eligible to get an instant credit card number so you can use your card right away.

What income do you need for Amex Platinum?

There is also no strict income or salary requirement for the Platinum Card. Platinum Cardholders, on average, do have very high incomes though. But there are reports of people getting approved with incomes in the $50,000 range or below.

What is lowest score for American Express?

Michael Battle, WalletHub Credit Card Analyst

The American Express credit score requirement is of at least 700, depending on the card. That means people with good to excellent credit are eligible to get approved for an American Express credit card.

What is Amex Gold Card limit?

Does the American Express Gold Card have a limit? The American Express® Gold Card has no preset spending limit, which reflects its origins as a charge card — a card that requires you to pay your bill in full every month.

Are Amex card holders rich?

No,. American Express is not specifically for rich people, even though it does have a high level of status in many people's minds. Applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards, and you don't need to be rich to have a good credit score.

What credit cards do billionaires use?

The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.

Why is American Express so special?

American Express is good because its credit cards offer customers a wide selection of bonus rewards in popular purchase categories. American Express credit cards also have an assortment of lucrative welcome offers, introductory 0% APR offers, and luxury travel benefits.

Why do so many people not accept Amex?

The different fees often make or break a deal for a merchant. This is why many merchants, especially small businesses, don't accept American Express. American Express' interchange fee is just too high. Providers like Visa and Mastercard charge between 1.15% and 2.5%, while Amex charges merchants between 1.43% and 3.3%.

What does Amex look at for approval?

In addition to having good to excellent credit and the rules on how many cards you can have or apply for, American Express will also review credit report information including your payment history and credit utilization. Bottom Line: You will need good to excellent credit to be approved for an Amex card.

What are the disadvantages of American Express card?

The primary drawback of American Express cards is the fact that they charge companies for the payments that they process. This is because they have their own payment network and don't rely on companies like Visa and Mastercard. This means that some businesses, especially smaller ones, may not accept American Express.

How long do Amex take to approve?

You will receive our decision by post within 10 working days.

Does Amex do a hard pull if denied?

If your application was declined, we do not report it to the credit bureaus. This will not affect your credit score. However, your request for a Card will show up on your credit bureau reports as a request for credit, also known as an "inquiry."

Does Amex prequalified mean approved?

Using only a soft credit pull—which does not impact your credit score—Amex determines whether you've met its minimum standards for that particular card. Despite the name, pre-approval does not mean your application will be automatically approved, though it does mean you have excellent odds.