Watch This Before Applying For American Express | (Major Updates, Rules & Guide) | Summary and Q&A

TL;DR

Learn about American Express cards including eligibility criteria, rules and regulations, and tips for approval or denials.

Key Insights

• 💳 American Express offers a variety of credit and charge cards with different benefits and rewards programs.
• 💳 Eligibility for American Express cards is not solely based on credit scores or income requirements and can vary depending on the specific card.
• 📏 There are rules to follow when applying for American Express cards, such as the Five Card rule, One and Five Rule, and Once in a Lifetime Rule for welcome bonuses.

Transcript

so are you considering applying for a brand new American Express card be one of the most important videos that you need to watch because American Express has a ton of rules they have regulations they have credit score requirements and there are people that sometimes even get blacklisted for not knowing these rules as someone who has multiple Americ... Read More

Questions & Answers

Q: What is the difference between a credit card and a charge card?

The main difference is that charge cards require the balance to be paid off in full every month, while credit cards allow for carrying a balance.

Q: What are the eligibility criteria for American Express cards?

Generally, a good to excellent credit score and meeting the minimum income requirement are required, but these criteria can vary depending on the specific card.

Q: How many American Express cards can a person have?

As per the Five Card rule, a person can have up to five American Express credit cards, but this rule does not apply to charge cards.

Q: Can a person apply for multiple American Express credit cards at once?

The One and Five Rule states that only one credit card can be approved every five days, and the Two and 90 Day rule limits approval of two credit cards within a 90-day period.

Summary & Key Takeaways

• American Express offers both credit cards and charge cards, which have different payment requirements.

• Eligibility for American Express cards typically requires a good to excellent credit score and meeting a minimum income requirement.

• There are rules to be aware of, such as the Five Card rule, One and Five Rule, and Once in a Lifetime Rule for welcome bonuses.