The name American Express has been around longer than anyone else’s. This is something that not many companies can say. The catchphrase “Don’t Leave Home Without It” was even used in “Major League,” one of the funniest baseball movies ever made. ” If you’re one of the many people who covet a card with the classic American Express name and logo on it, here are a few things you should know before applying for your first Amex card.
American Express (Amex) is one of the most prestigious and exclusive credit card issuers. Their cards come with valuable rewards, benefits, and perks. However, Amex also has higher credit score requirements compared to other issuers like Chase and Capital One. So is Amex hard to get approved for?
The short answer is yes, it can be hard to get an Amex card. Here’s what you need to know .
Amex Generally Requires Good To Excellent Credit
While there are no published minimum credit score requirements, most Amex cards require a good to excellent credit score for approval. Amex tends to pull credit reports from Experian, where a good credit score is considered 670 or higher and an excellent score is 800 or above.
There is no exact score that will get you approved, but a score of 670 is usually enough to give you a good chance of getting an Amex card. The higher your score, the better.
Other Factors Amex Considers
Your credit score isn’t the only thing Amex looks at. They also consider:
- Income – Higher incomes improve approval odds
- Employment status – Being employed full-time helps
- Payment history – No recent missed payments
- Credit utilization – Lower balances are better
- Credit inquiries – Too many recent inquiries can hurt
- Amex history – Having other Amex cards helps
If you meet the above requirements, your chances of getting approved will be better, but a high credit score won’t guarantee it.
Maximum Number of Amex Cards Allowed
There are limits on how many Amex cards you can have
- Up to 4 Amex credit cards
- Up to 10 Amex charge cards
After hitting these limits, you’ll likely be declined for additional cards until closing some accounts.
Welcome Bonus Restrictions
Many Amex cards offer lucrative welcome bonuses. But most of the time, you can only get each bonus once, or once per card, in your whole life.
For example, if you had the Platinum card and earned the bonus before, you won’t get it again on a repeat application. Amex enforces strict once-per-lifetime bonus policies.
Reconsideration Can Help Initially Denied Applicants
If denied for an Amex card, calling reconsideration at 800-567-1083 may help. You can find out the reason for denial and provide additional information. This has resulted in reversed decisions for some applicants.
While reconsideration isn’t guaranteed to work, it offers a second chance that’s worth trying.
Best Amex Cards For Good Credit
Here are some of the best Amex cards if you have good credit but not necessarily excellent scores:
Blue Cash Everyday® Card – No annual fee card perfect for earning cash back on groceries, gas, and online retail purchases.
Delta SkyMiles® Blue American Express Card – Great for earning Delta miles with no annual fee.
Hilton Honors American Express Card – Earn Hilton Honors points and get perks with this no annual fee hotel card.
American Express® Green Card – Entry-level card that earns Membership Rewards points on travel, dining, and transit.
Alternatives For Bad Credit or No Credit History
If you have bad credit or no credit history, Amex likely won’t approve you for their cards at this time. Consider alternatives like secured cards from Capital One and Discover. These require a refundable security deposit and help build your credit.
Amex is an exclusive issuer with valuable rewards. But their cards come with higher requirements compared to other banks. Focus on improving your credit and meeting their approval criteria. With perseverance, you can eventually earn approval for premium Amex cards.
Welcome Offers Are Generally Once-In-A-Lifetime Opportunities
Amex has a well-known once-per-lifetime rule for receiving welcome offers. Essentially, you may only be eligible to earn a welcome offer on an Amex card once. You generally can’t cancel the card and close the account, wait a year or two and then reapply to earn a welcome bonus again. In some cases, you can’t even have owned an earlier version of the card you’re considering or a card from the same family.
For example, the premium The Platinum Card® from American Express has this language in its offer terms:
“You may not be eligible to receive a welcome offer if you have or had this Card, the Platinum Card® from American Express Exclusively for Charles Schwab, the Platinum Card from American Express Exclusively for Morgan Stanley, or previous versions of these Cards.”
This prevents someone from opening and closing cards repeatedly just for the welcome offer.
What All This Means
Accepted at nearly all U.S. merchants, American Express cards have exclusive features and perks that may interest a wide range of consumers. Thanks to Amex’s variety of cards and its “Apply With Confidence” experience, getting your first Amex card doesn’t have to be complicated. The bigger challenge may be figuring out which of Amex’s many card offerings is the right fit for you.
Watch This Before Applying For American Express | (Major Updates, Rules & Guide)
FAQ
Is it hard to get an American Express card?
It can be moderately challenging to get approved for an American Express card, as they generally require a good to excellent credit score (around 670 and above). While there’s no single score guaranteeing approval, a lower score may make it harder to get approved.
What credit score is needed to get an Amex?
You’ll want a credit score of at least 670 for the best approval chance. However, even having a pristine credit score doesn’t guarantee your approval; Amex considers other factors, such as your income and history with Amex.
What income do you need for American Express?
American Express doesn’t have a fixed income requirement for their credit cards, but income is definitely a factor they consider when evaluating applications according to CNBC and Bankrate. A higher income can improve your chances of getting approved.
What is the hardest credit card to get?
The American Express Centurion Card, which is sometimes called the “Black Card,” is thought to be the hardest credit card to get.