Take A Look At Your American Express Credit Card Application

By Author: Alisha Booth
Total Articles: 4
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An American Express application can be tough. The reason is they've got a tough application process due to their higher credit limits compared to other credit cards. Although it can vary from case to case, they're going to consider a few things before ultimately accepting your request. They are going to judge you based on the following:

- Credit score. American Express has a scoring system to gauge their potential debtors. Possessing a good credit rating will affect the application positively. They are going to especially pay attention to your payment history, credit utilization or the ration of your revolving debt, period of credit history, sorts of credits used, and your credit inquiries.

American Express rates their application between 300 and 850 grades. A better score suggests more financial stability and responsibility. Should you get a score over 700, this means you are in great shape financially. Conversely, a grade below 600 can mean a rejection of your American Express application.

- Credit history. While many lenders think this may be part of your payment history, American Express consider this ...
... as a separate criterion. They will specially give attention to your timelines when paying your outstanding debts. A debt payment on time means you are honest. A bad credit history, however, typically affects the application and can result in rejection.

- Employment status. All credit card companies take a look at source of income to find out about your financial capability. Your credit limit is determined by how much you earn yearly. People with jobs are very likely to get an American Express card. You may still apply if you're a student, though, they might ask for additional documents to figure out where you will get the funds.

- Current loans. Having an outstanding loan with other institutions could affect your American Express application. It could look negative and signal poor financial capability. You ought to pay off all your existing loans before applying for an American Express card.

To give you an overview of the American Express application, here's a step-by-step guide:

- Familiarize yourself with the various kinds of American Express cards. Most cards require the balance to be paid entirely each month, in return for lower APR, no annual fee and other membership benefits. Figure out what will best suit your need.

- Since plenty of rewards and American Express discounts are on offer, pick which rewards or benefits will probably apply to you.

- If you're trying to get a credit card, know what other services American Express offers. This can include financial services, travel insurance, gift checks and other consolidation programs.

- When submitting the application form via the internet, look for the padlock icon. This can ensure the privacy of the information you sent. If you are still unsure which card is right for you, you can click the "apply for a card" tab at the top of the web page to find out more.

- Fill out all the information fields.

- Print and carefully read the terms and conditions of the card before verifying the application.

- Submit the application.

American Express offers a range of cards for any kind of individual. Be sure you check the requirements for each. If you are only starting to build a credit history, a Blue card will suffice. Those that have stable income and a good credit history may qualify for Gold and Platinum cards.

Pick a card that will fit your financial capacity. It's always best to research online to find out the type of card that best suits you.

Alisha Booth is intending to get an american express application online to benefit from the many american express discounts.