Is Amex for rich only?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.
Why does everyone want an American Express card?It's known for its top-notch customer service and some of the best rewards available. From ultra-elite business travel cards to everyday rewards, American Express has credit cards that are a good choice for many different types of cardholders.
Is Amex a high end card?Make no mistake --- the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
What income do you need for Amex?While there is no set score needed, we recommend you have a credit score of at least 670, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
Is it cool to have an Amex?Yes, it is good to have an American Express credit card because Amex cards offer bonus rewards on a variety of purchases for people with good or excellent credit. American Express cards also come with an array of welcome offers and introductory 0% APR promotions, in addition to a certain air of prestige.
That one rich passenger with her American Express platinum card 💰
Why is American Express so fancy?American Express is special because it is a luxury credit card brand, known for offering elite rewards and having exclusive approval requirements. American Express also is among the country's largest credit card issuers by purchase volume, and it is one of the four major payment networks.
Why do people love Amex so much?American Express is good because its credit cards offer customers a wide selection of bonus rewards in popular purchase categories. American Express credit cards also have an assortment of lucrative welcome offers, introductory 0% APR offers, and luxury travel benefits.
Does Amex approve everyone?Although American Express doesn't specify any minimum credit score requirements, you'll need good credit (or better) to qualify, which means a FICO score of at least 670. A premium Amex card — say, the American Express Gold Card — likely requires a “very good” FICO score, somewhere in the range of 740 and above.
Why don't people take Amex?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 1.15% and 2.5%, while Amex charges merchants between 1.43% and 3.3%.
Is it hard to get a Amex?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.
What is the hardest Amex to get?The hardest Amex card to get is the Centurion® Card from American Express. Also known as the “Black Card,” this Amex card is hard to get because it is available by invitation only, and potential candidates are rumored to need an annual income of at least $1 million.
What credit cards do billionaires use?The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.
Is Amex a status symbol?Amex is so popular because it offers high-end credit cards with great rewards and luxury perks, which have become status symbols in popular culture over time.
Who uses Amex cards?
Where is American Express Accepted?
- According to an American Express representative, 99% of U.S. merchants who accept credit cards also now accept American Express. ...
- American Express is one of the four major U.S. payment networks, along with Visa, Mastercard and Discover.
Is American Express the only black card?Besides the Black and Platinum Cards, American Express offers a line of 17 other cards.
Do millionaires use Amex?Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.
Is Amex harder to get than Visa?But in terms of comparing eligibility requirements for Visa, Mastercard, and American Express, American Express may be the hardest issuer to qualify for as most cards require applicants to have a “good” credit score of at least 670 to qualify.
Do a lot of people not take Amex?These findings show that 99% percent of merchants that accept credit cards in the U.S. will accept American Express, so the days of worrying about whether or not you can use your Amex to pay are nearly over. Essentially, it costs stores some of its profit every time you swipe your credit card.
How much income do I need for Amex Gold?Another major requirement is a steady income. American Express does not disclose a specific income requirement, but it will need to be enough to make payments on the card and to afford the $250 annual fee.
What is the easiest Amex card to get?Suggested credit score
When applying for the Amex Blue Card, try to have a good credit score, which is a FICO® Score of 670 or above. This is one of the easiest Membership Rewards cards to open, and even consumers with average credit scores have a decent chance of approval.