American Express is a credit card issuer company as well as a card network that is known for the best services in the market. It offers a wide range of credit cards from entry-level credit cards to premium ones, each of the cards having its own exclusive privileges. There are lots of individuals who look forward to getting an American Express Credit Card. However, to get approved for the Amex credit cards, you need to fulfill the eligibility requirements, which may include your age, annual income, credit score, residential status, etc. If you are not aware of the American Express Eligibility and document requirements, we are here with this article to make you understand the same. Keep reading for more detailed information:
Eligibility Criteria For American Express Credit Cards
American Express has set standard eligibility criteria for all the AmEx Credit Cards and these criteria need to be followed strictly by the applicants. The applicant must be an Indian resident and have a permanent address in India. To increase the chances of your application being accepted, you should check for the following table before you apply for an AmEx Credit Card:
American Express Credit Cards Salary Eligibility
The minimum eligible income required to get approved for the American Express Credit Cards can be different for different cards. You must have a really high income if you want to get the premium credit cards like the American Express Platinum Credit Card, and if you are an average or low-income individual, you should consider applying for a basic AmEx Credit Card like the American Express Membership Rewards Credit Card. AmEx has not disclosed the exact income eligibility criteria that needs to be fulfilled by the applicants, but it undoubtedly varies for different cards.
To apply for an American Express Credit Card, you must fulfill the following basic age requirements. However, age is not the only factor that will be considered by the card issuer while approving/rejecting your credit card application:
|Salaried Employee||Above 18 years||Salaried Employee|
|Self Employed||Above 18 years||Self Employed|
Credit Score Required
The applicants also need to have a decent credit history to get approved for an AmEx Credit Card. However, the credit score requirements may also vary for different cards. You will need to have a higher credit score to get approved for the premium credit cards issued by American Express as compared to the basic cards for which you may also get approved with a decent/average credit score. If you have not started building your credit score yet, it is advisable for you to build a credit history by getting a secured credit card or using Buy Now Pay Later option offered by different merchants. It will help you build your credit score and then it will become easier for you to get an AmEx Credit Card.
Documents Required to Apply For An American Express Credit Card
You are required to keep the following documents ready while applying for an Amex credit card. While applying for a credit card you need to have scanned copies of these documents.
|Identity Proof (any one)||Aadhaar Card, Driving Licence, Voter’s Id, Pan Card, Passport, or any other government-approved ID.|
|Address Proof (any one)||Aadhaar Card, Passport, Utility Bills (not more than 3 months old), or any other government-approved ID.|
|Income Proof (any one)||Bank Statement or salary slip of last 3 months, last 2 years’ audited financial report, etc.|
Credit Cards offered by American Express
Given below is a list of credit cards offered by American Express with their eligibility requirements. However, the card issuer may have some internal criteria as well on the basis of which, your credit card application may be approved/rejected even if you fulfill all the following requirements.
|American Express Platinum Card||Above 18 years||
Minimum annual income for salaried employees is Rs. 15 lakhs and above.
Minimum annual income for self-employed is Rs. 25 lakhs and above.
|American Express SmartEarn Credit Card||Above 18 years||
Minimum annual income for salaried employees is Rs. 4.5 lakhs and above.
Minimum annual income for self-employed is Rs. 6 lakhs and above.
|American Express Membership Rewards Credit Card||Above 18 years||Minimum annual income for both salaried employees and self-employed is Rs. 6 lakhs and above.|
|American Express Platinum Travel Credit Card||Above 18 years||Minimum annual income for both salaried employees and self-employed is Rs. 6 lakhs and above.|
|Jet Airways American Express Platinum Credit Card||Above 18 years||Minimum annual income for both salaried employees and self-employed is Rs. 6 lakhs and above.|
|American Express Platinum Reserve Credit Card||Above 18 years||Minimum annual income for both salaried employees and self-employed is Rs. 6 lakhs and above.|
Factors that affect your American Express credit card eligibility
- Age: The applicant above the age of 18 years can apply for American Express credit cards. Not fulfilling the age criteria will surely lead to the rejection of your credit card application.
- Income: American Express has set different income requirements for different credit cards. When choosing a credit card you need to check the income requirement on the American Express official webpage. Failing to meet the income requirement can affect your Eligibility in a negative way.
- Credit Score: Having a bad credit score or no credit history can negatively affect your eligibility. The credit card issuer considers a good credit score to be between 700-750 or above. A credit score is required to check your credibility so that credit card companies like American Express can easily issue a credit card to the applicant after scrutinizing the application thoroughly.
- Debt to Income Ratio: The eligibility also get impacted if the debt to income ratio is poor. Having more debt than income increases the chances of your application getting declined. Before applying for a credit card check your debt to income ratio first and then apply.
- Multiple Credit Card: Owning multiple credit cards can impact your eligibility for a credit card. The card issuer rarely issues another credit card to someone who is already in possession of 7-8 credit cards.
- Default in Payment: Another factor that impacts the eligibility criteria is the default in payment. If you have unsettled loans or have defaulted credit card bill payments then the chances of your application getting declined increase. The default in payments can stay for years in your credit history.
- Multiple Applications: Sending multiple applications in one go can result in the rejection of all the applications. Multiple applications can lead to hard inquiries also as it depicts your hunger for credit. So, it is advisable to send one application at a time.
Improve Your Eligibility for an American Express Credit/Charge Card
There are many ways through which you can improve your credit eligibility; a few of them are as follows:
- Check the age and income eligibility requirements before applying for a credit card. Such a simple step can increase your American Express credit card eligibility.
- Another straightforward way to improve the eligibility requirement is by not sending multiple applications in one go. Send one application at a time and wait for the response from the American Express card issuer.
- Build your credit score or credit history by taking up an entry-level or secured credit card in case you are applying for a credit card for the first time. You can also choose to opt for the ‘Amazon Buy Now Pay Later’ facility, as it will also help you to build your credit history from scratch.
- It is advisable to clear all your debts or credit card dues before applying for a credit card, as it will help increase the chances of your application getting approved.
- Make sure while applying for a credit card your debt-to-income ratio is in a good standing position. Having more income as compared to debt can help in increasing the eligibility requirement for the Amex credit card.
Yes, credit history plays an important role in the credit card application eligibility requirement. The chances of your credit card application getting rejected increase.
To improve your credit score, you need to clear all the dues and never default in the credit card bills payment.
Yes, you can re-apply for a credit card after 3 months. In the meantime, you need to work on improving your eligibility requirement.