What income do I need for Amex?
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.
Do you need proof of income for Amex?
While American Express probably won't ask to verify your income, it's not a good idea to lie about your income on an application. In fact, providing false information on a credit card application is against federal law. Therefore, you're much better off being honest when applying for an American Express credit card.
Does Amex 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 do you need to qualify for a American Express?
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.
Why is Amex so 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.
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.
Does Amex approve everyone?
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.
What is the minimum salary required for American Express credit card?
However, you must fulfill the minimum annual income criteria for the American Express® credit card you are applying for. In general, you require a minimum income of Rs. 4.5 lakh or above if you are salaried, and Rs. 6 Lakh or above if you are self employed.
Does Amex Platinum require proof of income?
Because American Express doesn't publicly disclose this information. 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.
Can poor people get an AmEx?
Unlike some other issuers, American Express does not offer cards geared toward people who have poor credit or who are rebuilding their credit. In other words, you'll likely need a score in at least the "good" range to qualify for an AmEx card. Other American Express cards will usually require even higher scores.
What should I put for annual income for credit card?
Gross income: Your total annual income before anything's taken out. Unless the application specifies otherwise, this is usually what the issuer is looking for. Net income: Your gross income, minus taxes and other expenses (like a 401(k) contribution).
Can I get an AmEx without a job?
Credit card issuers are more interested in your income than your job. They also look at your credit history, credit scores and existing debt. You can meet the income requirement even without a job by including on your application any income you have access to. Even if your income comes up short, rest easy.
Is Amex Platinum for millionaires?
The Platinum Card® from American Express is another exclusive credit card that millionaires tend to prefer. Also, this card isn't invitation-only.
How much do you need to make a year for Amex Platinum?
Annual income of $100,000 or more. Aged 18 years or over.
What triggers an Amex financial review?
If you have more than $25,000 credit limit on a credit card or a combined credit limit of $35,000, it will trigger a financial review.
What is a good credit score for Amex?
As a guideline, American Express' VantageScore tool considers a credit score between 661 and 780 to be a good score, anything below 661 to be fair or poor and anything above 780 to be excellent.
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 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."
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.
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.
How much income do I need for Amex Gold?
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.
How much is 100k Amex worth?
100,000 points are worth $2,200 per our valuations, and you can use them in a variety of different ways. Think international business class, free domestic airfare, and stays in luxurious hotel suites.
What card 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.
How much is 150k Amex worth?
We generally value Membership Rewards points at about 2.2 cents per point, which means that a 100,000-point bonus offer is worth ~$2,200, a 125,000-point bonus is worth ~$2,750, and a 150,000-point bonus is worth $3,300.