You'll want a credit score of at least 670 for the best approval chance. However, having a pristine credit score doesn't guarantee your approval; Amex considers other factors, such as your income and history with Amex.
If you have a credit score of 720, you rank at the higher end of the “good” credit score range. You probably will have many options available if you apply for credit, such as mortgages, credit cards, car loans, and personal loans with competitive rates.
Most Amex Platinum cardholders have a credit score of 670 or better, along with relatively high income. But your score alone does not fully decide whether or not you'll be approved. If you have a strong credit score, a few years of credit history, and a decent annual income, you stand a good chance of being approved.
670–739: Good. 740–799: Very Good. 800–850: Exceptional.
The Blue Cash Everyday® Card from American Express and the Delta SkyMiles® Blue American Express Card are two of the easiest Amex cards to get approved for because they only require good credit.
Credit score calculated based on the FICO® Score 8 model and is provided for educational purposes.
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.
What is the highest credit score possible? To start off: No, it's not possible to have a 900 credit score in the United States. In some countries that use other models, like Canada, people could have a score of 900. The current scoring models in the U.S. have a maximum of 850.
A 780 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers. 25% of all consumers have FICO® Scores in the Very Good range.
A low credit score, a history of late payments, and high debt are common reasons for application denial. Credit card reconsideration doesn't guarantee approval, but you might be able to qualify for that same card in the future.
Apple Card uses FICO Score 9. FICO Score 9 ranges from 300 to 850, with scores above 660 considered favorable for credit approval.
It is hard to get an American Express credit card because all cards offered by American Express require good credit or better for approval, which may be out of reach for the average consumer. Applicants need a 700 credit score and a steady income to have good approval odds for an American Express credit card.
A 700 credit score can help you in securing a Rs 50,000 Personal Loan with many benefits, such as: Lower interest rates. Higher loan amounts. Faster approval process.
Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024.
Key Takeaways. You will likely need a credit score of at least 670 to qualify for an American Express card, though it may depend on the card and other factors of your application.
The Blue Cash Everyday® Card from American Express and the Delta SkyMiles® Blue American Express Card are two of the easiest Amex cards to get approved for because they only require good credit.
Those scores fall into credit score ranges that generally determine whether your score is excellent (720-850), good (690-719), fair (630-689) or poor (300-629). Typically, people with scores in the good or excellent range have more access to better financial products.
What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.