What is the minimum income for American Express?

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.

What income do you need for American Express?

We recommend that your annual income be at least $50,000 or higher before applying for the Amex Platinum. The Amex Business Platinum card gives you a little more wiggle room because even if you have low business income or are just starting your business, you can still qualify for an Amex small business card.

Does American Express look at income?

They will request tax returns and bank statements. What they're looking for is to make sure the income you reported on the application is true. The process typically takes 2-3 weeks, and you're assigned a specialist to talk to.

What income do you need for Amex black?

How much do you have to make to get Amex's black card? There aren't any income requirements per se, but you most likely need to be a high spender on your Amex cards. If you're in the ballpark of $250,000 to $500,000 in annual spending across all your open Amex cards, you may qualify for the Centurion card.

Is American Express hard to qualify for?

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.

American Express Platinum Approval Odds - What Credit Score Needed for Amex Platinum Credit Card?

What is the easiest Amex 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.

Can I get an Amex with a 600 credit score?

To be approved for the Amex Platinum, you need to have a good or excellent 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.

How do you qualify for an American Express card?

Anyone can be eligible for American Express cards if they are at least 18 years old and have a Social Security number and a U.S. street address. Amex applicants should also have more income than monthly expenses and a credit score of 700 or higher, as Amex cards require good or excellent credit for approval.

What is the income requirement for Amex Platinum?

Annual income of $100,000 or more. Aged 18 years or over.

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.

Can you get Amex platinum with no income?

But an income is a must in order to get this card. And you need to demonstrate the ability to pay the card's $695 annual fee and the entire balance in full, when applicable. Having said that, it is also worth noting that you need at least good credit for approval.

How hard is it to get an American Express Gold Card?

Getting the Amex Gold Card isn't the easiest card to qualify for as you need good or excellent credit. That means having a minimum 670 FICO score and existing cards in good standing. Being an existing American Express cardholder can also make it easier to qualify.

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.

Which FICO score does Amex use?

What credit score does Amex use? Data points indicate that American Express uses the FICO 8 scoring model from the Experian credit bureau. The bank is also likely to pull the same score from either Equifax or TransUnion but the applicant won't know until after they try.

Does Amex raise your credit score?

American Express can help your credit score if you are the primary accountholder or an authorized user aged 18 or older on an American Express credit card or charge card account. For an Amex card to be good for your credit score, the account must be kept in good standing with on-time monthly bill payments.

Can I get a Bank of America credit card with a 650 credit score?

The BankAmericard® credit card credit score requirement is at least 750. That means people with excellent credit have a shot at getting approved for the BankAmericard credit card. If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases.

Which Amex card is hardest to get?

The hardest Amex card to get is the Centurion® Card from American Express. Also known as the “Black Card,” this Amex card is hard to get because it is available by invitation only, and potential candidates are rumored to need an annual income of at least $1 million.

Can I get an American Express card with a 580 credit score?

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.

Does Amex give instant approval?

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.

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%.

How long do Amex take to approve?

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

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.

Is American Express A rich people card?

Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.

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.

Is there a better card than Amex Gold?

For those who can take advantage of its rich credits, the American Express® Gold Card, which carries an annual fee of $250, generally comes out ahead (see rates and fees). But if you can't use those side perks, it's usually a good idea to go with the Chase Sapphire Preferred® Card, which has an annual fee of $95.