What income do you need for Amex Gold?

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.

Is there an income requirement for Amex?

Person Income/Business Income

On average, Amex Platinum and Amex Business Platinum cardholders tend to have high incomes. However, a high income is by no means a requirement. We recommend that your annual income be at least $50,000 or higher before applying for the Amex Platinum.

Is it hard to get approved for an Amex gold?

Yes, it is hard to get the American Express® Gold Card because it requires at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be very hard for you to get approved for the Amex Gold card.

Do you have to be rich to have a gold American Express card?

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.

What card do billionaires use?

According to Weiss, one of the most recommended cards for high-net-worth individuals is The Platinum Card® from American Express . While this card comes with a wide range of perks that make it seem too good to be true, it also comes with an annual fee of $695 (See Rates), which is higher than most other credit cards.

New American Express Gold Card | How to Get Approved

Are American Express card for rich people?

Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card, and The Platinum Card® from American Express. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.

How can I get Amex Gold?

In order to get the Amex Gold card, you will have to meet the credit score requirement, have a steady income and be at least 18 years old. You'll also need to have an SSN or ITIN. Keep in mind that even if you meet all of the requirements for the Amex Gold card, you're never guaranteed to be approved.

Is Amex Platinum better than gold?

Amex Platinum ultimately offers more value, though. For example, its benefits include airport lounge access, while the Amex Gold Card's perks do not. When it comes to ongoing rewards on purchases, Amex Platinum has a higher maximum earning rate and better travel rewards. But Amex Gold provides more everyday value.

What is the 5 24 rule?

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.

What FICO score does American Express use?

What credit score does American Express MyCredit Guide provided? The score provided by American Express MyCredit Guide is the VantageScore® 3.0 credit score by TransUnion®.

What is the golden rule of credit cards?

I follow the two golden rules: I pay my credit cards on time and I pay the statement balance in full every month. It is the no-interest payments that allow me to come out ahead of the credit card companies.

Does having more credit cards hurt your score?

Applying for new credit, especially many new credit card accounts at once, can hurt your score. Since having more credit cards means you'll have a higher credit limit, that could tempt you to spend more than you can afford to pay off each month.

Does closing old credit cards hurt your score?

A credit card can be canceled without harming your credit score⁠; just remember that paying down credit card balances first (not just the one you're canceling) is key. Closing a charge card won't affect your credit history (history is a factor in your overall credit score).

Is Amex Gold a luxury card?

If you consider yourself a foodie, the American Express® Gold Card could be the ideal luxury card for you. This card earns a competitive 4X points per dollar spent at restaurants and 4X points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).

Is Amex Gold plastic or metal?

Yes, the Amex Gold card is a metal card. New Amex Gold card applicants don't need to specify that they want a metal card, either – it's standard. It's worth noting that regardless of its name, the Amex Gold card is not made of gold. But it is worth quite a bit in ongoing rewards.

Does Amex Gold get lounge access?

The Amex Gold card does not offer any complimentary airport lounge access. Bottom Line: If you value worldwide lounge access, the Amex Platinum card is a clear winner as the Amex Gold card does not offer any form of airport lounge access.

How do you get American Express 75k Gold?

You can qualify for a welcome bonus of up to 75,000 points on the American Express Gold Card after spending $4,000 within the first three months of card membership. That's another 15,000 points more than the standard bonus and the highest offer we've ever seen for this card.

How much is 75k Amex points worth?

The Amex Gold's 75,000-point welcome bonus through CardMatch is also much better than the current public offer of just 60,000 points and is worth around $1,500 based on TPG's valuations.

Is American Express a hard card to get?

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.

What is the highest credit limit for American Express?

The American Express card with the highest limit is The Platinum Card® from American Express because it's reported to give some cardholders limits of $100,000+. Instead of a traditional credit limit, Amex Platinum has no preset spending limit, which means the amount a cardholder can spend changes over time.

Is Amex Platinum for rich?

The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. In the right hands, the classic status card's staggering annual fee is well justified.

Why is Amex a status symbol?

Some of the oldest players in the Credit Card space have long understood the use of branding Credit Cards as status symbols. The best among them Amex which built a multibillion dollar empire by telling its user they were special. And that their card symbolised this special status.

How many credit cards is too much?

How many credit accounts is too many or too few? Credit scoring formulas don't punish you for having too many credit accounts, but you can have too few. Credit bureaus suggest that five or more accounts — which can be a mix of cards and loans — is a reasonable number to build toward over time.

Why did my credit score go down when I paid off my credit card?

Credit utilization — the portion of your credit limits that you are currently using — is a significant factor in credit scores. It is one reason your credit score could drop a little after you pay off debt, particularly if you close the account.

Is it better to close a credit card or leave it open with a zero balance Reddit?

The standard advice is to keep unused accounts with zero balances open. The reason is that closing the accounts reduces your available credit, which makes it appear that your utilization rate, or balance-to-limit ratio, has suddenly increased.