Getting an American Express (Amex) card can range from relatively easy to quite difficult, depending on the card, but generally requires good credit, a stable income, and being over 18; while basic cards are accessible with fair credit, premium cards like the Platinum demand excellent credit, higher income ($50k+), and strong financial history, making the difficulty directly tied to the card's prestige and perks.
Frankly, Amex is pretty easy to get approved for. Unless you have derogatory marks, you usually only need a body and a pulse to get approved. Whether your spending habits fit the high AF of Amex's cards is an entirely different question.
To apply for an American Express® Credit Card you must:
Have a good credit history. Be an Australian citizen or permanent resident or hold a long term visa. Long term means 12 months or more and does not include a student visa. If self-employed, have been trading for at least 12 months.
Transferring 30,000 points to our loyalty partners gives you between £300 and £900.
However, if you have a bad credit history and poor credit report, the chances of approval for an American Express® Credit card are less. Also, American Express® offers its credit card in selected cities in India, so it might be difficult to get a card if your city is not covered under the list of sourcing cities.
Amex minimum income requirements vary significantly by card and country, but generally range from around $45,000-$50,000 for some standard rewards cards (like the Explorer card in Australia) up to higher amounts like $65,000 for premium cards (Qantas Ultimate), or even business revenue requirements (e.g., $75,000 for Business Platinum). Some Amex cards, particularly in markets like Canada, surprisingly have no stated minimum income.
100,000 American Express Membership Rewards points are generally worth $1,000 to $2,000 or more, depending on redemption; you get about 1 cent per point ($1,000 total) using the travel portal or gift cards, but can achieve 2 cents per point or higher ($2,000+) by transferring to airline/hotel partners for premium flights, yielding significantly more value, according to Bankrate and WalletHub and The Points Guy.
While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.
The Amex 2/90 rule is a guideline limiting most people to approval for no more than two new American Express credit cards within a 90-day period, even if they meet other rules like waiting five days between applications (the 1-in-5 rule). This rule specifically applies to credit cards, not necessarily charge cards, and is a key factor in managing how many new Amex cards you can open and get welcome bonuses for.
50,000 Amex points are typically worth around £225 if redeemed as a statement (around 0.45p per point). It's worth noting that these are one of the lowest-value uses for points, so it's usually better to explore travel transfers or partner offers to make the most of your Amex card.
earns a sufficient income of at least $50,000 per annum to pay outgoings and living expenses, in addition to Card repayments each month without experiencing financial hardship; • have current employment or access to other income or repayment sources; • generally have an established credit history and reasonable credit ...
The charge-off notation, meanwhile, stays on your credit report for seven years from the date of the first missed payment that led to it, not from the date it was sold, transferred or settled. That's the seven-year rule, and it's an important part of determining what to do next in terms of your charged-off debt.
Yes, American Express is often considered a "classy" credit card brand, especially when compared to many others. Amex is known for its premium cards like the American Express Platinum Card® and the Centurion® Card from American Express, which come with high annual fees and luxury perks.
The credit limit you can expect for a $70,000 salary across all your credit cards could be as much as $14000 to $21000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open.
The main cons of American Express (Amex) include limited merchant acceptance (due to higher fees for businesses), high annual fees on premium cards, and strict credit requirements, often needing good to excellent credit; plus, some traditional Amex cards are charge cards requiring full monthly payment, unlike typical credit cards, and points transfers can sometimes be slow, notes Investopedia, Finder.com.au, Credit Suite, Bankrate, Point Hacks, Half Past First Cast, and YouTube}.
The Centurion Card is so exclusive due to how difficult and expensive it is to obtain. You can only gain access by invitation, as the card does not accept applications.
The best credit card that is rumored to have a $100,000 credit limit is the Chase Sapphire Preferred® Card. While Chase does not publicly disclose the highest credit line available for the card, there are online reports of people getting around $100,000 in spending power, or even more.
The Eligibility Checker leaves a 'soft' search which won't affect your credit rating but can be seen by you if you pull your report. We will give your application a credit check to ensure you are able to meet the obligations of being a Cardmember. This usually includes looking at: Your ability to repay.
If you have excellent credit, high income and low credit utilization among other variables, issuers may offer you a credit line of $30,000 to $50,000. However, it's possible credit issuers offer a credit limit even higher than that.
Estimated value
Dividing 100/20,000 gives you a value of 0.5 cents per point, or $5 value for every 1,000 points. But the value of your Membership Reward Points also depends on how you redeem Amex points and can also vary based on your card.
Membership Rewards® points have no expiration date.
This means that with careful planning and some savvy moves, those 45 million points could translate into around $900,000 in travel experiences! Imagine jetting off first class around the world or enjoying luxurious hotel stays—all made possible by those little numbers accumulating in your account.
Key takeaways. Amex points are typically worth anywhere from 0.6 cents to 2 cents* per point, depending on how you redeem them. Transferring your points to Amex travel partners is generally the most lucrative redemption option. You can redeem points via their travel portal and by transferring to travel partners.