What Are the American Express Approval Requirements?

American Express is known for premium credit cards, but great perks often come with stricter qualification standards. If you’re wondering whether you will meet American Express approval requirements, this guide will help you better understand approval odds and credit card applications for the world-class American Express card.

Key Factors Influencing Approval

American Express credit card approval requirements vary based on the card. The key factors influencing approval, however, mirror many other major credit cards, starting with your credit score. These three factors are critical to becoming an authorized user:

• Credit Score Requirements: Unlike some other credit cards, AmEx does not offer a subprime card, which means you need good credit to get approved. Typically, applicants are required to have a credit score of 670 or higher.
• Debt-to-Income Ratio: Your debt-to-income ratio measures the percentage of your monthly income that goes towards paying debts, such as rent or mortgage, car payments, credit cards, child support, and more. To determine your ratio, divide your total monthly debts by your total monthly income. AmEx prefers a debt-to-income ratio in the low 30s or below.
• Employment Status and History: Like many financial institutions, American Express considers your employment status and history as part of your credit card application. Naturally, if you have a stable employment industry with a solid salary, that is an indication that you will be able to make monthly credit card payments.

Understanding Credit Scoring Systems

In a nutshell, a credit scoring system reviews your credit history — including history of repayment, debt, total accounts, and more — to calculate a credit score that predicts the likelihood that you will miss a payment by at least 90 days in the next two years.

FICO Score Explained

FICO scores range from 300 to 850, and most lenders use them to determine your creditworthiness. FICO, which stands for Fair Isaac Corporation, creates ratings based on the following scale:

• Excellent: 800–850
• Very Good: 740–799
• Good: 670–739
• Fair: 580–669
• Poor: 300–579

VantageScore Overview

The three major credit rating agencies developed an alternative to FICO scores: the VantageScore. It also ranges from 300 to 850 and uses machine learning for its analytics, but its ranges are slightly different from FICO’s:

• Excellent: 750–850
• Good: 700–749
• Poor: 550–649
• Very Poor: 300–549

While FICO scores are still the most common form of credit scoring, VantageScore is growing rapidly. Both can provide a picture of your current credit status and future ability to make payments.

Tips for Improving Your Credit Score

If your credit score isn't already in the "excellent" range, you can take several steps to improve it.

Strategies to Boost Your Score

One of the best things you can do to boost your credit score is to make on-time payments for your other credit cards, rent or mortgage, and other monthly bills. Late and missed payments are reported to the national credit bureaus and can drag your score down, but timely payments will always work in your favor. If you struggle with remembering to make monthly payments, consider autopay options through your bank.

Other smart strategies include paying down balances, avoiding new credit applications, maintaining your oldest accounts for the sake of your credit history, and having a family member add you as an authorized user on their card, as long as they have a good payment history.

Monitoring Your Credit Report

Equifax, Experian, and TransUnion — the three national credit reporting bureaus — are required by law to provide a free annual credit report. If you haven't checked yours out lately, go for it! You might be surprised at errors or inaccuracies, which, when fixed, can help to boost your credit score.

How the American Express Approval Process Works

You can apply for an American Express online in about 10 minutes after reading the Terms and Conditions, although requirements can vary per card. American Express Platinum approval requirements may vary slightly from card approval requirements, for instance.

Application Process Overview

The typical process is as follows.

• You fill out a form with your personal and financial information.
• American Express checks your credit history and credit score.
• You may receive an automatic approval, or American Express may use a manual review to check tax and employment information.
• You are notified of AmEx's decision.

If your application is approved, you should receive your new card within three to five business days.

Pre-qualification: What It Is and How It Works

Much like it sounds, pre-qualification is a pre-screening that will give you a better idea of your likelihood of approval. American Express can perform a "soft" credit check that doesn't affect your credit score as a pre-qualification.

You can "apply with confidence" online for three different cards to determine your pre-qualification status.

American Express Application Rules

Not surprisingly, AmEx has several rules when it comes to applying for its coveted credit cards.

Number of Applications and Impact on Approval

You can only be approved for an AmEx card once every five days, and for two cards within 90 days. You will max out at five personal and business cards total.

Multiple Applications

If you do the math, that means you must wait at least six days between card applications if you are applying for multiple American Express cards. After that, you must wait another 90 days for any additional applications.

Essential Qualifications for AmEx Card Applications

Eligibility criteria can vary based on the specific card.

General Eligibility Criteria

In general, to be eligible for an AmEx card, you will need to meet these requirements:

• Be at least 18 years old
• Have a minimum credit score of 670 to 700
• Have a low debt-to-income ratio
• Have a reliable source of income
• Have a solid credit history

Specific Requirements for Select Cards

Every AmEx card requires a good to excellent credit score. Beyond that, here are some specific requirements for select cards:

• American Express Centurion (Black) Card: You must receive an invitation to apply for this exclusive card.
• The American Express Gold Card requires a good credit score while the Platinum Business American Express Card, which is harder to earn and has a higher annual fee as well as better rewards, requires an excellent score. The Platinum is great for luxury travel benefits, while the Gold is a great option for earning everyday spending.

AmEx also offers a guide to "leveling up" when it comes to cards, their colors, and their associated perks.