Why is American Express not popular?

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. And if you're fortunate enough to have good credit or better, an American Express credit card will be no harder to get than any other credit card.... read full answer

The easiest American Express cards to get are those that require a minimum of good credit for approval, as opposed to excellent credit only. You may also want to target cards that are co-branded with a certain hotel or airline, as well as offers with lower annual fees. However, Amex also offers premium cards for big-spenders, which can be relatively difficult to get. These cards also come with high fees.

Easiest American Express Cards to Get

Keep in mind that American Express also evaluates each applicant's income and debt obligations to make sure they can afford monthly bill payments on a new line of credit. However, there isn't much information available about Amex's standards in those regards. But you shouldn't expect them to differ too much from other credit card companies' policies.

You should also note that while Amex cards are relatively hard to get, there are several other credit cards that are easy to obtain.

Easiest Credit Cards to Get

If you don’t know where you stand, check your credit score for free, right here on WalletHub. You can also track your progress with free daily updates.

No,. American Express is not specifically for rich people, even though it does have a high level of status in many people’s minds. Applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards, and you don’t need to be rich to have a good credit score.... read full answer

In addition, some forums even report approvals for people with incomes as low as $25,000 per year. An income of $60,000 or higher is more likely to get you approved, though.

Why Some People Think Amex is for the Rich

The Black Card

The rumor that American Express cards are for rich people might come from the fact that one card––the Centurion “Black” Amex––is, in fact, for rich people. This card is invitation only, and it’s rumored that you must spend at least $100,000 across your Amex cards annually to be considered, though it could be much more. There is also a hefty $5,000 annual fee that cardholders must pay each year.

Charge Cards

Another aspect of American Express credit cards that caters to the rich is the fact that some Amex cards, such as The Plum Card® from American Express, are charge cards. This means that cardholders must pay their balance in full each month, since they are not allowed to carry a balance on the card. These cards are clearly not intended for long-term borrowing, so they better suit the spending habits of those who can afford to pay their balance in full each month.

Average Spending Volume

Finally, it’s worth mentioning that the average spending volume on Amex cards is very high compared to other card networks. In 2018, for example, the average American Express cardholder spent $14,480. In contrast, the average spending across cards on the other 3 major networks that year was only $3,918.

This means that many American Express cardholders are heavy spenders, but it certainly doesn’t mean that low spenders can’t get approved for Amex cards.