Can I get an Amex with a 720 credit score? (2024)

Can I get an Amex with a 720 credit score?

While some issuers offer cards designed for those with less-than-stellar credit scores, American Express does not offer any subprime or secured cards. In most cases, you need at least good credit to get approved for an American Express card, which FICO typically defines as a score of 670 or higher.

What credit limit will I get with a 720 credit score?

What's the easiest Amex to get approved for?

Which Amex card is the easiest to get? The easiest Amex cards to get are ones with a lower minimum spending requirement for rewards, as well as a low annual fee or no annual fee. Examples include the Blue Cash Everyday Card from American Express and the American Express Cash Magnet Card.

What can I get approved for with a 720 credit score?

How rare is a 720 credit score?

What is the minimum FICO for Amex?

In most cases, you need at least good credit to get approved for an American Express card, which FICO typically defines as a score of 670 or higher. Other banks also issue American Express cards.

How does Amex determine credit limit?

Debt-to-income ratio

This ratio calculates how much debt you have compared to your income. The more debt you carry, the less likely you are to qualify for a large credit limit with your credit card. The higher the income you have, the more likely you are to receive a higher credit limit.

Can I buy a house with a 720 credit score?

Lenders typically seek a FICO score of 700–720, though some may consider scores as low as 680. These loans often necessitate a 10–20% down payment, incorporating home equity as a key part of the borrowing strategy.

What is a good credit limit for a 30 year old?

Does Amex approve bad credit?

Unlike some other issuers, American Express does not offer cards geared toward people who have poor credit or who are rebuilding their credit. In other words, you'll likely need a score in at least the "good" range to qualify for an AmEx card. Other American Express cards will usually require even higher scores.

Does American Express give instant approval?

Instant approval always is possible when applying for an American Express credit card online, though getting approved for an account immediately is never guaranteed.

Does Amex check income?

They will request tax returns and bank statements. What they're looking for is to make sure the income you reported on the application is true. The process typically takes 2-3 weeks, and you're assigned a specialist to talk to.

Does a 750 vs 800 credit score matter?

A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

Can I buy a car with a 720 credit score?

The credit score needed for the best car loan depends on the lender, but in general, a credit score of 720 or higher will allow you to qualify for a lender's best rates. This can also change according to economic conditions -- for example, lenders tend to tighten their standards during recessions.

Is a 720 credit score good for a 19 year old?

According to credit bureau Experian, a good credit score is 700 or above. But if you're in your 20s and just starting out, a score of 700 or higher may be tough as you're just establishing your credit history.

How rare is an 820 credit score?

Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO^® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO^® Scores in the Exceptional range.

What is the average credit score in America?

In the U.S., the average credit score is 716, per Experian's latest data from the second quarter of 2023. And when you break down the average credit score by age, the typical American is hovering near or above that score.

What is the average credit score for a 23 year old?

Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 25 is 679, a score between 679 and 687 (the average for people aged 26 to 41) could be considered “good”.

Which FICO does AmEx use?

No matter what state you live in, American Express appears to be most likely to pull your report from Experian. It may, for some products or as an additional check in some cases, pull from Equifax or TransUnion.

Can I get an American Express card with a 700 credit score?

While American Express doesn't publicize a minimum credit score for the Amex Gold Card, generally, applicants with a good credit score of 670 or above are more likely to qualify.

Are AmEx cards hard to get?

It is hard to get an American Express credit card because all cards offered by American Express require good credit or better for approval, which may be out of reach for the average consumer. Applicants need a 700 credit score and a steady income to have good approval odds for an American Express credit card.

Does Amex automatically increase credit limit?

American Express will automatically increase the credit limit for eligible credit card accounts based on periodic account reviews that typically begin six months after an account is opened.

Can you buy a car with a credit card?

Whether or not you can purchase a vehicle with a credit card will depend on the dealer and the policies they have in place for certain transactions. Many dealers refuse credit card transactions or limit the dollar amount of such transactions due to the hefty transaction fees that often accompany them.

Can I buy a car with Amex Platinum?

Cardholders of The Platinum Card® from American Express (another high credit limit card), or any other type of Amex members, can try using the American Express Auto Purchasing Program, which connects you to dealers who accept American Express and let you charge $2,000 or more toward a car purchase on your Amex card.

What credit score is needed for a $350 000 house?

Eligibility requirements: Usually, you'll need a good credit score (a FICO score of 670 or higher) to qualify for a $350K mortgage, especially if you want the best rates. Lenders may also require proof of income and other assets.