Yes, the American Express Platinum card is hard to get approved for. It will be difficult for the average person to get Amex Platinum because of the card’s 700+ credit score requirement and reportedly high income requirement. Anecdotal evidence suggests most people need to make at least $40,000 to $50,000 per year and that approval odds are best with $100,000 or more in annual income.
Another factor that makes it hard to get Amex Platinum is the card’s daunting $695 annual fee. However, if you are a big spender and are able to take advantage of the card’s substantial rewards and benefits, Amex Platinum can absolutely be worth it.
Amex Platinum isn’t the hardest Amex card to get, though. Its requirements are far more lenient than those of Amex Centurion, which is an invitation-only card that reportedly requires you to spend at least $100,000 per year on another Amex card and have an annual income of at least $1 million to qualify.
The American Express Platinum card credit score requirement isn’t the only thing that determines whether you’ll be approved, though. Your credit history, income and any debt you’re carrying will also play a role in your approval odds. In fact, reports around the internet suggest you can get approved with slightly lower credit score if you have high enough income.
To gauge your odds of approval, you can also check to see whether you pre-qualify for American Express Platinum card offers. Unlike an actual application, pre-qualification is only based on a soft inquiry on your credit report, and does not affect your credit score. Just keep in mind that while pre-qualification indicates good odds of approval, it does not guarantee it.
If you don’t meet the American Express Platinum card credit score requirement, there are plenty of other credit cards you can get. They likely won’t be from American Express, though, since Amex cards require good or excellent credit. The best credit cards for fair credit also have rewards that fit various spending habits. Once you get a credit card, be sure to make all of your payments on time, and try to keep your credit utilization below 30%. This will help raise your credit score so you can get approved for a card like American Express Platinum card in the future.
You must also be at least 18 years old and have a valid Social Security number, Tax ID number, or passport. Proof of a steady annual income is required, too. American Express doesn’t disclose a specific income requirement to get a American Express Platinum card. Other factors such as a low debt-to-income ratio and few recently-opened credit accounts should also boost your chances of getting a American Express Platinum card.… read full answer
Before you apply for a American Express Platinum card, be aware that the card comes with a $695 annual fee. In addition, it’s not a traditional credit card, which means you must pay off the statement balance in full every month most of the time. There is an exception for Pay Over Time purchases, though, allowing you to spread out payments for approved charges of $100 or more, with interest. Eligible charges can be included in a Pay Over Time balance, up to a limit. The American Express Platinum card also has no preset spending limit, so the maximum amount you can spend on the account could change in any given month, based on a variety of factors.
To start with, the American Express Platinum card’s requirements for approval are a credit score of 700+. This means that you need at least good for high chances of approval.
In addition to this, you have to be at least 18 years old with a physical U.S. address and a Social Security Number, Tax Identification Number or passport.… read full answer
The issuer will also take into account various other factors like your credit history, any debts you might have and your income. At this point, it is also worth noting that American Express doesn’t publicly disclose a specific annual income requirement.
Another American Express Platinum card requirement is that you must give American Express permission to pull a copy of your credit report. You will also need to complete an application. It’s important that any information you enter on the application is complete and accurate. Knowingly submitting false information on a credit card application is a federal crime.
To gauge your odds of approval, you can also check to see whether you pre-qualify for the American Express Platinum card. Ultimately, you can also check your credit score for free on WalletHub.
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