Is American Express trustworthy?
Is American Express trustworthy?
American Express is best known as a credit card company and for being one of the four major payment card networks in the U.S., but it offers a lot of other financial products, too. Here are some key things to know about American Express: A+ BBB rating. 3.9/5 average rating among users.
Is American Express hard to be approved for?
It’s generally harder to get an American Express card than it is to get a credit card from many other major issuers simply because all of Amex’s credit card offers require good or excellent credit for approval.
Does American Express verify your income?
No, American Express does not verify income on most credit card applications or credit line increase requests.
How long does it take for American Express to review your application?
How long does it take for American Express to approve a credit card application? Many American Express credit card applications will be approved immediately. However, if your application status is pending it can take up to 60 days to get a decision. If that happens, you’ll be notified by mail once a decision is made.
Why do stores hate American Express?
The different fees often make or break a deal for a merchant. This is why many merchants, especially small businesses, don’t accept American Express. American Express’ interchange fee is just too high. Providers like Visa and Mastercard charge between 1.5% and 2.5%, while Amex charges merchants between 2.5% and 3.5%.
What is the minimum income for American Express?
What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
Why did American Express deny me?
American Express sends a letter to affected applicants citing why the application was denied. Common reasons an application could be denied include a low credit score, an insufficient annual income, number of open credit accounts, and more.
What triggers American Express financial Review?
However, one of the most common causes of a financial review appears to be a rapid ramp-up in spending. If you’ve been a cardholder for a few years routinely spending $2,000 a month on your card, and all of a sudden, you begin to spend $15,000-$20,000 a month, you might trigger a review.
Why was my American Express application denied?
How can I get approved for American Express?
To get approved for this card you’ll want a credit score of at least 670 to get approved, but some people have reported having a score as low as 630 and being able to get the card.
