NOTE: American Express does not publish information on card approval odds or credit scores needed to qualify for Amex credit cards. This article is based on information from past successful (and unsuccessful) applicants, and is therefore only an educated guess! American Express is a ProudMoney advertiser.
The Platinum Card® from American Express does not necessarily require a remarkably high credit score, but your chances for approval increase with a higher credit score and even more so if you have a healthy income.
But what does that mean?
American Express Platinum Approval Odds / Credit Score Needed
In general, if you have a credit score over 700 AND at least 2 years of credit history AND an income of at least $30,000, your chances of approval are good, at least 75% but maybe as high as 90% if your credit score, length of credit history, and income is beyond those thresholds.
Your chances for approval go down if you don’t meet all three of those criteria. Our estimates of your approval odds based on other credit situations:
- If your credit score is over 700 and you have an income over $30,000 per year BUT you don’t have at least 2 years of credit history, your chances of approval fall to perhaps 60%-65%. If you have a higher income, few other credit cards, and a low debt-to-income ratio, your approval chances will improve.
- If you have a credit score between 650 and 700, you’re in a gray area. Your approval odds are essentially 50-50, but may be higher if you have a higher income (especially beyond $70,000) and low debt. If you have previous history with a different American Express credit card and that history is spotless, that will definitely be a mark in your favor. Again, though, a 700 credit score is usually needed for the Amex Platinum, so the closer you are to 700, the more likely it is that the other factors will tip the scales in your favor.
- If your credit score is between 626 and 649, approval is unlikely but not completely unheard of. If you have a “perfect storm” of other factors, including high income, low debt, no recent card accounts opened, prior (good) history with American Express, and a credit score that has been trending up instead of down, you might still have a shot, though we’d peg your odds of approval at 20% at best.
- If your credit score is 625 or below, your chances of being approved for the American Express Platinum are zero, unless perhaps you can show a legitimate million-dollar income. (Money talks, after all.)
Good luck on your approval for The Platinum Card® from American Express!
Author: Adam Jusko