A credit score between 670 and 850 is normally required to be approved for an American Express Blue Card. American Express doesn’t just look at your credit score while reviewing your application, though. They assess your suitability for their card by taking into account your income, employment situation, and credit history.
If your credit score is below 670, you might still be approved for an Amex Blue Card, but your interest rate and credit limit will probably be higher. Your application can also be rejected if you have a spotty credit history or a history of late payments.
A person’s creditworthiness and income have an impact on the American Express Blue Card’s credit limit. Expect a greater credit limit if your credit score is good and your income is steady. On the other hand, your credit limit will probably be lower if you have a lower credit score or income.
What Constitutes a Good Credit Limit? A good credit limit is one that is big enough to pay your costs but not excessively so that you run the risk of going over budget. Your credit limit should, in theory, be equal to about 30% of your monthly revenue. Your credit limit should be about $900 if, for instance, your monthly income is $3,000 per month. What Credit Limit Should I Have Based on My Income?
Your credit limit need to be determined by your income and capacity to repay any loans that you take out. You can expect your credit limit to increase as your income does. However, while choosing your credit limit, you should also take into account your regular outgoings and other financial commitments.
Although 650 is regarded as fair, it might not be high enough to be approved for an American Express Blue Card. However, you could still be able to get authorized for an Amex Card if you have a reliable source of income and a clean credit history, albeit with a lesser credit limit and a higher interest rate.
In conclusion, you usually need a decent to exceptional credit score, a steady income, and a good credit history to be eligible for an American Express Blue Card. Your creditworthiness and income will determine your credit limit. Although a credit card can be a great tool for collecting rewards and establishing credit, it’s crucial to keep in mind that in order to prevent high-interest fees and debt, it’s imperative to use it wisely and make payments on time.