The Platinum Card from American Express is one of the best credit cards from Amex.
Hence, to get this credit card, you must have an excellent credit score and a good credit history.
So, what’s the needed credit score for the Platinum Card from Amex? This article is all you need to know the approval odds for the Platinum Card from Amex.
Hence, if want to know more about the Platinum Card read through this article carefully.
With that in mind, let’s get down to the topic of today.
The Platinum Card from Amex Approval Odds (Credit Score Needed)
To get approved for this Credit card you’ll need an excellent credit score and also a good credit history.
But, in general, you’ll need a min credit score of 700 and 2 years of credit history to get this card.
Also, you’ll need to have a minimum income of $30,000 at least to qualify for this card.
Having said that, let’s have a look at the different credit card ranges and their approval odds:
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700 and above
If you have a credit score of above 700 with a min 2 years of credit history you have good approval odds.
Hence, if you also have an annual income of about $30,000, your chances of approval are at least 75%.
If you have a credit score of 700, with 2 years of credit history you also have good approval odds.
Hence, if your annual income is $30,000, your approval odds are between 60% and 65%
Thus, if you have few credit cards, a low debt, and a higher income, your chances will increase.
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650 to 700
If you fall in this category you have a 50% chance of getting approved for this credit card.
Hence, if you have a higher income with low debts and a good credit history, your chances can increase.
Although, the credit score needed for this credit card is 700. So, if have a credit score close to 700 you have a higher chance of getting approved for this card.
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626 to 649
If you fall under this category your chances of getting approved for this card are low.
But, if you have a high income, low debts, and a good credit history, your chances can increase.
Hence, make sure have a few credit cards, you might just be lucky to get approved for this card.
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625 and below
If you have a credit score of 625 and below, you have zero chances of getting the Platinum Card from Amex.
Thus, you might want to build your credit score and your credit history before signing up for this card.
Also, make sure you have a high annual income and low debts with few credit cards as well.
Hence, here are some factors that should be considered when applying for this card:
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Credit Utilization Ratio
A low credit utilization is best, hence the lower the credit utilization the better.
Income.
Before applying for the platinum card from Amex make sure you have a high annual income.
Hence, if you earn up to $30,000 yearly, you have a good chance of getting approved for this card.
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Number of recent credit cards
The number of recent cards opened within 6 months can also affect your approval.
Hence, it is advised not to open more than 3 credit cards in 6 months before you apply for this card.
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Credit history
Your credit is also important in determining if you get approved for this card or not.
Hence, make sure you have a good credit history of at least 2 years before applying for this card.
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Credit Score
Finally, to apply for the platinum credit card from Amex, you’ll need a credit score of at least 700.
Thus, the higher the credit score the higher the chances of approval you have for this credit card.
The Platinum Card from Amex
This credit card offers a welcome bonus of 80,000 reward points to new cardholders.
Hence, if you’re a new cardholder, you must spend at least $8,000 within the first 6 months to get this bonus.
Thus, you can also get other amazing perks like; $240 Digital Entertainment Credit, etc.
Having said that, you can also earn the following:
- 5X points on fights purchased with airlines or via Amex Travel on up to $500,000 spent yearly.
- 5X points on Prepaid Hotel reservations from AmexTravel.com.
- 1X points on all other daily approved purchases made with your Platinum Card from Amex.
For more info, visit https://www.americanexpress.com/us/credit-cards/card/platinum.
Verdict
In summary, you don’t only need a good credit score to get the platinum card from Amex
Hence, other factors will determine your credit card approval. Thus, this article has all you need to know about the platinum card approval odds.
So, if you have questions about the platinum approval odds, drop them in the comment below.
Having said that, thank you for reading!