American Express Travel Notifications Guide: Are They Needed? [2021]
Offers contained within this article maybe expired.
Before you depart the country you always want to make sure that everything is in order when it comes to your credit cards and debit cards. Nothing is worse that having your transactions denied or your card frozen when you’re trying to make a purchase abroad. And to avoid this, you usually need to place a travel notification on your card.
In this article, I’ll show you whether or not you’ll need to place a travel notification on your American Express credit cards before traveling.
We use industry-leading fraud detection capabilities that help us recognize when our Card Members are traveling, so you don’t need to notify us before you travel.
One way that the notifications work is when Amex tracks your purchases for travel. So they might see that you’ve made airline ticket or hotel purchases or perhaps they see that you’ve made a purchase at an airport — it’s not clear exactly what types of purchase trigger their anti-fraud detection capabilities.
In those cases, you might receive an email like this one I received for my Platinum Card.
Based on recent transactions, it appears that you will be traveling soon. We’ve made a notation on your account(s), so you don’t need to contact us to advise us of your travel plans.
We’re pleased to offer free and easy to use solutions that help make sure any fraud concerns can be resolved quickly. Before your trip, we recommend that our traveling Card Members do the following:
Download the Amex Mobile app from the Apple App Store or Google Play Store and enable Push notifications. This will allow us to alert you of potential fraudulent activity on your account and, in many cases, allow you to resolve concerns instantly.
Confirm your current mobile phone number is on file by logging into your account online. This will allow us to reach you quickly, should any concerns arise.
Thank you for your Card Membership.
American Express Customer Care
So it would be a good idea for you to download the Amex Mobile App and to monitor your notifications when traveling. That way, you might be able to quickly resolve any notifications about potential fraud. And then you’ll want to make sure that your current mobile phone number is on file and updated so that Amex can reach out to you and quickly resolve any problems.
Does the technology always work?
You might be wondering how Amex will detect that you’re traveling if you don’t use your Amex card to make travel purchases. I’m not sure how they would be able to do that either and so I’d just be on the lookout for notifications from the app about fraud if that’s the case.
I would also have the Amex customer service number saved to my phone. (It’s a good idea to have your credit card information stored somewhere as well.)
Also, I always travel with a Visa and a Mastercard because many vendors and merchants might not accept American Express cards. So it might not even be a potential fraud issue that keeps you from using your Amex card.
Also, one unique consideration to think about with American Express cards is that some of them limit their bonus earning to US establishments.
For example, the Amex Gold Card earns 4X on dining at US restaurants and 4X at US supermarkets. Meanwhile other cards like the Citi Prestige earn 5X on dining on international purchases as well. So with Amex cards, don’t forget that your bonus earnings (and sometimes other perks like Uber credits) don’t work abroad.
Do I need to set up travel notifications for domestic travel?
You should not have to worry about travel notifications for domestic travel. However, if you are making a large purchase away from your home state you might trigger anti-fraud protection.
In that case, you should have the mobile app downloaded so that you can verify your purchase and allow it to go through.
How can I set up travel notifications online?
American Express does not allow you to set up travel notifications online.
Does American Express charge foreign transaction fees?
There are several credit cards issued by American Express that do not charge foreign transaction fees. These include cards like the Amex Gold Card.
What is the foreign transaction fee for American Express?
If your Amex card does not waive foreign transaction fees, then you will likely be charged 2.7% of your international transactions.
Final word
Unlike issuers like Chase where you can log-in and set up travel notifications online for your credit cards or even bank accounts, Amex does not require you to do this and in fact doesn’t even have the option for you to do this online. Instead, they rely on technology to predict if you’re charges abroad are fraudulent or not and then notify if there are any suspicions.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Are you trying to find out how to check your Chase credit card application status? Or did you receive a message stating that your application is “under review” and that you will hear back in 30 days, 7 to 10 days, or even two weeks?
This article will show you exactly how to check your Chase credit card application status in three easy ways.
And it will also show you what each of these “under review” messages mean like the 30 day, 7-10 day, and 2 week messages and what you should do after you receive one of these.
I’ll also give you some much needed information that can help you overturn a denied application via the Chase reconsideration line.
How to check your Chase credit card application status
The automated phone number to check your Chase credit card application status is: 1-888-338-2586.
If that doesn’t work, older numbers might work:
1-800-432-3117 and 1–800-436-7927 for personal cards
1-800-453-9719 for Chase business cards.
You should be prompted to input your social security number, and then you’ll simply wait to hear the status of your credit card application.
Be aware that sometimes you might be taken directly to an agent. If you don’t want to talk to a live person then just hang up the phone and there should be no harm. However, if you do want to talk to them then you need to read more about Chase reconsideration (which I talk about below).
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Can I check my credit card application status online?
Yes, you can check your application status online but only if you have an account with Chase — if you’re a new customer, you’ll just have to settle with calling the automated phone number above.
For a while, Chase didn’t have the ability for you to check your status online but now it’s very easy. I will break down the steps below.
Once you are logged in, click on the three bars on the top left side of the screen.
Step three
You will now see a side bar menu and there will be an option for you to select “Application status.” Look for the option at the bottom of the menu.
Once you click on that, you will be taken to the “My Applications” page and you should see all active applications there.
If you are still using the old Chase interface, follow the instructions below.
Log-in to your account and then go to the “Customer Center.” On the right side of the screen you should see a section called “Open a New Account” and underneath that a link you can click that says “Check my application(s) status.”
Click on that and you should be able to view your recent credit card applications which could include:
How to check your Chase credit card application status online.
Secured message
Some people prefer to check their application status via a secured message. If you want to do this, then log-in and go to the “Contact Us” and click on “Send us a message” using the Secure Message Center.
This will be the slowest method to get your answer, though. So I would prefer to go with calling in or just checking online.
Chase application status for loans
Note that there are different phone numbers that you can call to check on the status of your applications for other loans like mortgages and auto loans.
These numbers can be found below.
Auto loan – Purchase New or Used Car
1-866-804-6781
Auto loan – Refinance
1-866-481-4254
Home equity
1-888-e4CHASE (1-888-342-4273)
Mortgage
1-866-524-9593
What does your Chase credit card application status mean?
Chase is known for sending out different types of messages when you apply for one of their credit cards and don’t get automatically approved. These messages can give you an indication on whether or not you can expect to be approved.
30 day message
One of the most common messages to get after you are not automatically approved for a Chase credit card is the 30 day message.
If you receive this message all it means is that your application is being processed.
Sometimes it means that the computers are just back-logged and for whatever reason can’t spit you out an automatic approval. Other times it means that your application will likely be reviewed by an actual person (manual review).
At this point, you can just sit back and wait a few business days or usually at most a couple of weeks for Chase to get back to you. Or, you can be more proactive and you can consider calling into the reconsideration phone line but you may want to just hold off (more on that below).
The Chase 30 Day Message.
Two week message
If the automatic status checker changes and tells you that you’ll be notified in two weeks, then you should be very happy because this message almost always means that you will be approved!
So I would recommend that you just be patient and await your approval email (assuming that it is coming) but you could also call in from time to time to check on it until you hear the official word.
Eventually, you will hopefully receive a message like the one below!
Chase approval message.
7 to 10 day message
If the automatic status checker changes and tells you that you’ll be notified in 7 to 10 days, I’ve got some bad news….
This message often means that you will be denied.
There are some situations where people receive the 7 to 10 day message and all they had to do was call in to verify some sort of personal information. For example, there could have been a discrepancy with the address they put on their credit card application versus the address that showed up on the credit report.
Or, Chase just might want to make sure that it was actually you who applied for the credit card. In that case, you might just have to answer a couple of easy security questions. For example, you might have to verify your old address or a car that you once owned.
So if you receive this message there still is some hope that you might get approved but for the most part you should expect a rejection to come.
At this point, you may want to go ahead and call into the Chase reconsideration line at: 1-888-270-2127.
Chase credit card application rules
Chase has some very specific credit card application rules that you want to make sure that you are following.Two of the most popular rules are the 5/24 rule and 2/30 rule.
Hopefully, you already had an idea about these rules before you ever applied and you made sure that you were not violating any of these rules.
However, if you just applied and were not automatically approved then you should read up on these rules and you might be able to find out why you were not approved.
If you are in violation of these rules, you stand a very, very small chance of getting approved and you should probably just expect to be denied.
But, if you were not in violation of any of these rules, and you were not automatically approved then you should probably look into calling into Chase reconsideration.
Chase reconsideration line
The Chase reconsideration line is your opportunity to plead your case and try to convince Chase to approve your credit card applications and even overturn rejections.
The goal here is to show Chase that you had a legitimate need or desire to open up a new Chase card or multiple cards so that they will reverse their decision and approve you for a card.
The Chase reconsideration line phone number is 1-888-270-2127.
The Chase reconsideration hours of operation are usually:
7am to 10pm EST Monday through Friday
8am to 1 pm EST Saturday
9am to 9pm EST on Sunday
How to handle a reconsideration call
There are some things that you don’t want to say in a phone call like this and then there are some things that you do want to say.
For example, you don’t want to tell Chase that the primary reason you are chasing a credit card is the amazing 50,000 point sign-up bonus. That makes you sound like an unprofitable customer (or even worse a “gamer”) and you are going to have an uphill battle to get approved once that happens.
But if you have a more legitimate reason for needing cards such as the need to segregate your expenses then Chase will likely be more onboard with your reasons for getting the card.
I suggest that you check out my article on the Chase reconsideration line and it will break down everything that you should say (and should not say) in a reconsideration phone call.
Chase business reconsideration line
Lastly, if you have applied for a Chase business credit card then there will be additional questions that you need to be prepared for in the reconsideration call.
These reconsideration calls for business credit cards are usually more intense and can be a little bit more stressful to get through.
So I highly suggest that you check out my article on Chase business reconsideration calls — it will walk you through everything you need to know to prepare for a business recon Phone call.
FAQ
How can I check my Chase credit card application status via phone?
The automated phone number to check your Chase credit card application status is: 1-888-338-2586.
Can I check my Chase credit card application status online?
Yes, you can check your application status online but only if you have an account with Chase.
What does the 30 day message mean?
If you receive this message it most likely means that your application is being processed.
What does the two week message mean?
The two week message usually means you will be approved.
What does the 7 to 10 day message mean?
This message often means that you will be denied (but not always).
Final word
Checking your application status with Chase is a little tricky because of all of the different types of messages that you can receive when your application is not automatically approved. But, once you understand what each of these messages mean it is actually pretty easy to get a sense of what to expect when it comes to your approval.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Chase Sapphire Reserve Credit Score: What Are My Approval Odds? [2021]
The Chase Sapphire Reserve is one of the hottest credit cards on the market with some of the top benefits so naturally people are curious about what credit score is needed to get approved for the Sapphire Reserve.
It’s great that more consumers are doing their research before applying for credit cards these days but there’s a lot more that goes into a credit card approval decision than just a credit score.
Here are a few things you can look at to get a good sense of your Chase Sapphire Reserve approval odds.
Unfortunately, credit scores can sometimes be very deceptive.
That’s because someone with practically no credit history can still have a score in the 700s, which is considered a “great” score. In reality, a 700+ credit score with no credit history won’t do you much good when applying for the Sapphire Reserve.
So before we get into the ideal Chase Sapphire Reserve credit score, let’s go over some of the most important factors on your credit report and how those will be considered for your approval decision.
If you need a quick refresher on how credit scores are determined, click here.
Three very important Chase Sapphire Reserve approval criteria are:
If you have virtually no credit history, you probably don’t want to apply for the Sapphire Reserve. For example, if your oldest account is 3 months old, you’ll likely struggle to get approved.
If that’s the case, I highly recommend going for a card like the Chase Freedom. The Freedom comes with no annual fee, some great bonus earning potential, but most of all, it’s one of the easier Chase cards to get approved for.
You don’t have to go with the Freedom, there are plenty of other credit cards designed for people with “fair” credit that you can consider. The benefit to going with the Freedom though is that you’re able to establish your relationship with Chase which will help you get approved for a Sapphire card later on.
Utilization can be important, too. You should strive to keep your overall utilization below 30% but that’s not to say you won’t get approved with higher utilization.
You need to also pay attention to the utilization on your specific credit cards. For example, if you already have another Chase issued credit card and it’s maxed out, Chase is not going to like the way that looks. If that’s the case, then you want to try to pay that off or down as soon as you can.
Late payments
If you have recent late payments (late payments within the past year or two), you might get some push back because of those. (This is especially true if your late payments were with Chase.)
But just because you have negative marks on your credit report doesn’t mean you can’t get approved — there are plenty of data points out there of people getting approved for the Reserve even with blemishes on their credit report.
If you have really fresh late payments that just hit in the past few months, I would probably wait several months before I tried applying. Assuming you don’t mess up again, just waiting 6 months after a late payment can sometimes improve your score a decent amount.
Credit score needed for the Sapphire Reserve
Assuming you have at least a couple of years of account history (with any bank), I’d recommend waiting until your credit score is close to 720 to apply for the Sapphire Reserve.
But this is not a strict cut-off requirement whatsoever.
I’ve known people personally who have been approved for the Reserve with credit scores in the high 600s. So if you have a credit score of 690, for example, it’s still possible to get approved for the Reserve.
The thing to note in this situation is that typically you’ll need to have a more established credit profile if your score is below 700. So if you have a 690 credit score but 7+ years of solid credit history and no blemishes on your record, it might be worth giving it a shot to apply. If you have had another card issued by Chase for several years, that’s another major factor to be considered.
At the same time, don’t get too cocky if you have a score above 720. If your credit profile is still very thin, you might need to build it up more before applying.
One of the most important Chase Sapphire Reserve requirements for approval is the income requirement.
The Reserve is a premium credit card and these usually require you to have a higher income.
This is especially true since the minimum credit line for the Reserve seems to be $10,000. If you have a lower income, Chase might not feel good about granting you that credit line.
Typically, I’d recommend that you have an income at least $40,000 range. If you do enough research, you’ll see some data points of approvals with income in the $30,000 and even $20,000 range, but I would not like my odds with those figures.
If it were me, I’d only feel comfortable applying for the Sapphire Reserve with an income of $45,000+.
Other income related factors come into play such as your monthly rent or mortgage. If you’re cutting things close with your monthly rent payments and your income is borderline, expect a tougher time getting approved for the Sapphire Reserve. You can read more data points on income needed for Chase credit cards here.
Consider going for the Chase Freedom if you have a lower income.
Open up a Chase bank account
If you think you’re a borderline candidate for getting approved, one thing you can do is open up a Chase bank account.
If you maintain that bank account for a few months, it might help push the needle toward the direction of getting approved. Do your best to keep the account in good shape. Avoid getting hit with overdraft fees or anything that could potentially make you look less financially responsible.
Before you apply
Once you’re ready to apply for the Sapphire Reserve, then do yourself a favor and read about the Chase application rules first. The Chase Sapphire Reserve is subject to the Chase 5/24 Rule (along with other restrictions) and this article will explain everything you need to know about those rules and restrictions.
Also, if you’re a borderline applicant, your Sapphire Reserve application might end up in a Chase reconsideration phone call. For that reason, make sure you read up on my tips for the Chase reconsideration line.
If you pay close attention to the above articles, you’ll be well equipped to move forward with your Reserve application.
Chase Sapphire Reserve qualifications
So in summary, you want to consider the following qualifications:
Credit account history
Utilization
Payment history
Credit score
Income
Relationship with Chase
Chase application rules
Chase reconsideration protocol
Having an understanding of all of these will give your great insight into your Chase Sapphire Reserve approval odds.
Final word
The Chase Sapphire Reserve is definitely one of the top credit cards available.
So understandably, Chase doesn’t want to give it out to everyone. But if you follow the advice in this article and do what you can do to build up a credit history, clean credit report, have a decent income, and try to establish relationship with Chase, you’ll be increasing your approval odds.
In the end remember that’s it’s impossible to know what Chase will or will not do with your application, so sometimes you just have to apply to get your answer.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
But how hard is it to get approved for the Platinum Card?
This comprehensive article will take a look at what credit score, income, and other criteria are requirements for the Platinum Card and give you some tips on how to meet those if you currently fall a little short.
What are the Amex Platinum Requirements?
The Amex Platinum will generally require a good to excellent credit score (720+) and a mid to high income. However, there are no hard cut-offs for either of these requirements as will be shown below.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Credit score needed for the Amex Platinum
There is no strict requirement regarding your credit score but you will likely want to have a solid FICO credit score that is at or above 720. Keep in mind that Amex usually pulls from Experian so that’s the FICO score that you need to be paying attention to. You can sign up to check your credit score here.
Lower credit score okay?
If you do enough research you can find plenty of data points of people getting approved with credit scores below 720. In fact, many people have been approved with credit scores in the 600s, so you definitely don’t need a perfect credit score.
If you already have a long-standing relationship with American Express then you probably won’t need as high of a credit score when you apply.
But if this is your first application with Amex and your score is in the 600s, you’re likely facing an uphill battle. For those reasons, I would generally recommend that you focus on improving your credit score if it’s in the 600s.
Improve your credit score
If you need to improve your credit score and you want to do it in a hurry then consider the following options:
You can read more these methods and about improving your credit score (quickly) here.
Income requirements for the Amex Platinum
There is also no strict income or salary requirement for the Platinum Card.
Platinum Cardholders, on average, do have very high incomes though.
But there are reports of people getting approved with incomes in the $50,000 range or below. Once again, your history with Amex could be a major factor for getting approved if you are a borderline candidate.
You should know that thanks to the Credit Card Act of 2009, you are allowed to report the income of your spouse and/or family members so long as it is reasonably accessible to you and you are 21 years or older. Learn more about what kind of income is “reasonably accessible” here.
The Amex Business Platinum recently has required a minimum business revenue of $1,000 for many applicants but no similar minimum income requirement has been implemented for the personal version.
No annual spend requirement like the Amex Black Card (Centurion)
One thing that is clear is that there is no annual spend requirement for the Platinum like there is for the American Express Centurion Card, also known as the Amex Black Card.
The Black American Express card usually requires at least $250,000 in spend per year just to receive an invitation to apply. For the business version of the Centurion Card, once you spend around $500,000 (or possibly $450,000) in a calendar year you might receive an invitation.
So the Black Card is a much different premium card than the Platinum Card and comes with a lore more benefits. Here’s a quick look at some of the perks of the Black Card:
I generally suggest for people to go for another American Express card first in order to build up a relationship with Amex before applying for the Platinum.
You don’t have to do it this way but if you think you’re a somewhat borderline applicant and your credit history is your weakness, then it might not be a bad idea.
Building your history with Amex
A great card to consider is the new Amex Green Card. That’s a solid points earning card that earns 3X on travel and dining and comes with credits for CLEAR and Lounge Buddy that can allow you to offset the annual fee. It’s known for being one of the easier Amex cards to get approved for so it’s a good way to start building up your credit history.
How long to wait
If you are getting ready to apply for your first American Express card and you decide to go with one of the easier options to get approved for then you might want to wait 6 months to a year to apply for the Platinum Card.
That should give Amex some time to learn to trust you.
Some like to wait even longer to establish their credit history, but generally 6 months to one year is enough time for banks to start trusting you a little bit.
Upgrade later?
As I talk more about below there is a difference between charge cards and credit cards. If your charge card account is in good standing, you might be able to upgrade any of your charge cards to a Platinum Card. So for example you could potentially upgrade the Green Card to a Platinum Card.
The Green Card is usually easier to get approved for so this could be a smart way for you to establish your relationship with Amex and then you could always look into upgrading at a later date. But be aware that due to Amex application rules, if you upgrade, you will not be eligible for a welcome bonus for the Platinum Card (you might be able to get a special offer for upgrading).
If you want to go this route make sure you don’t mistakenly apply for a credit card.
Age
Some report that waiting until you reach the age of adulthood (21) to apply could increase your approval odds.
The Platinum Card isn’t exactly a card that’s tailor made for those under 21 and Amex likely will have doubts about your income and or credit history at young ages below 21. So if you’re in your lower 20s, consider trying to build up a few years of credit history first to increase your approval odds.
Authorized user
If your credit score isn’t that high or your income is on the lower side then maybe there is someone else who can apply for the Platinum Card like a spouse or family member. It only costs $175 to add up three authorized users to the Platinum Card and they get a lot of the key perks like Priority Pass and Centurion Lounge access.
Credit limits
A traditional credit card provides you with a credit limit and you are not allowed to use more credit than that specified limit. However, the Platinum Card is not a traditional credit card.
Charge cards
The Platinum Card is a charge card offered by American Express.
This means that you have no set credit limit when you are approved. Instead, you are expected to pay off your monthly charges at the end of each month. This allows you to have great flexibility with your spending and it’s why I consider the Platinum Card to be one of the best credit cards for high spenders.
Something to make clear is this does not mean that your credit limit is unlimited.
Instead, Amex will likely monitor your monthly spending habits and slowly up your spending capacity as you gain their trust by showing that you can pay off your balance.
In the mean time, you can pre-pay your bills to free up credit if that’s what you need to do.
Pay Over Time
Amex does offer something called “Pay Over Time,” though.
This allows you to select certain charges over $100 that you will pay over time just like a traditional credit card. You will be paying interest on these charges so keep that in mind.
One great thing about Pay Over Time is that Amex will often send out a promotional offer where you can earn Membership Rewards just for enrolling in Pay Over Time.
You should expect to wait about six months to one year before being offered Pay Over Time, though it likely depends on your history with Amex. Read more about Amex Pay Over Time here.
Amex Platinum features
The Amex Platinum has some of the top features out of any credit card.
The standard welcome bonus is 75,000 miles after spending $5,000 within the first 6 months, which is very competitive for a premium credit cards. However, it’s possible to find offers up to 100,000 points.
If you value Membership Rewards at 1.8 cents per point, that’s $1,080 with the lower 60,000 point welcome bonus, which would nearly cover the annual fee for two years.
Bonus earning
The Platinum earns 5X on airfare and 5X on hotels booked through the Amex Travel portal making it one of the best credit cards to use for airfare purchases. Getting 5X on hotels booked through the Amex Travel is nice too but it requires you to book pre-paid stays which aren’t always ideal.
Travel credits
The Platinum comes with a $200 airline credit and a $200 Uber credit. Both of these credits can offset the hefty annual fee down to $150, making this card much more appealing. The Platinum also has a $100 Saks credit.
Lounge access
I think that the Platinum Card is the best credit card for lounge access.
With it you’ll be able to receive:
Priority Pass access for you and two guests
Centurion lounges access for you and two guests
Delta Sky Club access when flying with Delta
Most other premium cards like the Chase Sapphire Reserve only offer Priority Pass memberships. But Centurion Lounges are some of the nicest airport lounges around and Delta SkyClubs can be impressive so this is a great deal for many people.
Elite status
With the Platinum Card, you’ll get more out of your hotel stays as you’ll get the following elite statuses:
These can provide you with perks like free breakfasts, upgrades, late check-out, and some other nice perks which can even include lounge access.
Annual fee
The annual fee is high at $695 but as stated the travel credit offset much of that and the value that you’ll receive with the lounge access and hotel elite benefits will probably be worth well over $150 for frequent travelers. Note that if you’re in the military you can get the annual fee waived.
Tip: Use the free app WalletFlo to help you travel the world for free by finding the best travel credit cards and promotions!
Transfer partners
Being able to transfer your hard-earned Membership Rewards out to some amazing travel partners is a big deal because those partners allow you to receive outsized value for your points.
For example, I once transferred 55,000 Membership Rewards to Aeroplan and then booked a business class ticket to Europe and earned a whopping 14 cents per mile on that redemption!
Here are all of the American Express travel partners:
Airlines
Avianca
Delta Skymiles
Club Premier AeroMexico (1,000 = 1,600 premier points)
One of the great features of the Platinum Card (and several other Amex cards) is that you can usually generate referral links for extra bonus points.
If someone used your referral link to apply and they get approved, then you’ll be rewarded with bonus points up to 55,000 points per year. Unfortunately, there is no known advantage or boost to their approval odds if they use your link. You can read more about that referral program here.
Amex application rules
American Express has some very specific rules for applying for their cards.
Luckily, most of these rules apply to credit cards and not their charge cards.
But you need to be aware that they have a once per lifetime rules and have recently cracked down on people trying to game the system while earning welcome offers. You can find out more about these rules here.
Final word
The Amex Platinum Card requirements are pretty straight forward: you need a solid credit score and a good income.
However, there are no hard cut-offs for these requirements and depending on other factors like your credit history and your prior relationship with American Express, you may be able to get approved even if your numbers are on the low side.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Capital One Savor Cash Rewards Credit Card Credit Score: What Are My Approval Odds?
The Capital One Savor Cash Rewards Credit Card is one of the best cash back credit cards, especially for dining and entertainment. But how high of a credit score do you need to get approved?
This article will give you an idea of what you can expect your approval odds to be based on your credit score.
There are reports of being approved for the Capital One Savor card with credit scores in the mid to upper 600s, so you definitely don’t need a perfect credit score to get approved for the Capital One Savor.
But keep in mind that the applicant there was applying for the old Capital One Savor card and the new version is a more premium product which means it will usually require a higher credit score.
The Capital One Savor card is not a card meant to rebuild your credit so if your score is in the low to mid 600s, it is probably not be for you. But if you’re in the high 600s, you might stand a decent chance.
My advice would be to try to get up above 720 or at least 700 to increase your approval odds for the Savor. In addition, I would try to establish at least a year of credit history with some issuer to increase those approval odds.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Capital One Savor benefits
The original Capital One Savor was released in the fall of 2017 but it was later re-launched in 2018 and it came with an upgraded package. Here’s what the new and improved Capital One Savor offers:
4% cash back on dining
2% cash back on groceries
1% cash back on everything else
Rewards don’t expire for the life of the account, and you can redeem cash back for any amount
World Elite MasterCard benefits
$95 annual fee
No foreign transaction fees
Bonus spending
4% cash back on dining and entertainment
2% cash back on groceries
1% cash back on everything else
The Capital One Savor is one of the best cards for cash back on dining and entertainment with 4% cash back. You have to factor in the $95 annual fee which will obviously cut into the savings but if you spend a substantial amount of money on dining and entertainment then earning that 4% back can most definitely be worth it.
No foreign transaction fees
CapitalOne cards, like Discover cards, come with no foreign transaction fees. This is great if you don’t have a MasterCard with no foreign transaction fees because you’ll be able to take your 4% earnings on dining abroad with you and not have to worry about any issues if they don’t take Visa but do take MasterCard.
Drawbacks
One of the drawbacks to applying for a Capital One card is that they pull from all 3 credit bureaus. You can have one of your bureaus frozen like Experian to mitigate the damage, however.
Capital One Savor credit limits
It’s hard to predict what your credit limit will be for the Savor credit card. However, there are reports of others getting credit limits as high as $30,000. More realistically, with an average credit score, you’ll probably get started off with a credit limit of $5,000 to $10,000.
The actual limit you get will depend on your credit score and income but in the past Capital One has always been one of the most generous issuers for me when it comes to credit limits. They also allow you to request credit limit increases, usually after 6 months, so you can always try to work your way up the credit limit ladder with those requests.
Improving your credit score
If you think you’re on the cusp of getting approved then you may just need to work a little bit on your credit score. If you need a quick refresher on how credit scores are determined, click here.
Obviously, you want your payment history to be squeaky clean. If you have a late payment within the last couple of months, consider waiting a few more months to apply for another credit card. If you have multiple late payments, you might need to wait 6 to 12 months before applying and possibly even longer.
Utilization
You want to try to keep your utilization around 10% but no higher than 30% for good approval odds. It’s really important to know how to properly pay off your credit card bill to maintain good utilization.
Credit history
As stated, you probably want to apply for this card after you’ve established some credit history for a while. I would shoot for at least a couple of years of solid credit history.
New credit
Capital One can be a little sensitive to new accounts opened up so try to space out your applications so that you’re not applying for a bunch of Capital One cards right after applying for other cards.
Mixed credit
This looks at your mix of revolving credit accounts and installment accounts and is the least important factor for your FICO score. You shouldn’t stress too much over this factor.
Depending on which factor is holding you back, there are different ways to quickly improve your credit score. You can read about these different methods here.
Final word
The Capital One Savor is a great cash back rewards credit card but you’re going to need to have at least a decent credit score to get approved. Capital One advertises this card as needing “Excellent” credit so you know that your score needs to be in decent shape before applying.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Amex Business Platinum & Gold Airline Bonus Guide [2021]
Offers contained within this article maybe expired.
Two of the best business credit cards have to be the Amex Business Gold and Amex Business Platinum. These cards have a lot of perks and benefits but one of the perks that stands out is the airline bonus (25% and 35% rebate).
But what exactly is this perk and how does it work?
In this article, I will give you a full breakdown of how to use this perk and what to expect in terms of value.
What is the Amex Business Platinum & Gold airline bonus?
The airline bonus perk allows Amex Business Platinum and Gold card holders receive a 25% or 35% rebate when using Membership Rewards to book flights with certain airlines via Amex Travel.
If you have the Amex Business Gold, you will receive a 25% rebate on your points. If you have the Amex Business Platinum, you will receive a 35% rebate on your points.
You can only get the 25% rebate for either a First or Business class flight on any airline, or for flights with your selected qualifying airline.
Here some of the airlines you can choose:
Alaska Airlines
American Airlines
Delta Airlines
Frontier Airlines
Hawaiian Airlines
JetBlue Airways
Spirit Airlines
Southwest Airlines
United Airlines
For the Amex Business Gold you will only be able to receive up to 250,000 bonus points per calendar year and for the Amex Business Platinum, you will only be able to receive up to 500,000 bonus points per calendar year.
That means that after you redeem 1 million points for the Amex Business Gold you will no longer have the bonus (for the year) and for the Amex Business Platinum, you will lose out on the bonus after redeeming 1,428,571 points.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Is the bonus worth it?
The standard redemption rate for airfare with Amex Travel is 1 cent per point.
For the the Amex Business Gold, the airline bonus allows you to effectively redeem your points at a rate of 1.33 cents per point and for the Amex Business Platinum you can redeem your points at an effective rate of 1.54 cents per point.
So that is the type of value we were talking about with his benefit. To determine if it is worth it or not, we first have to look at the best alternative.
The best way to get the maximum value for your American Express Membership Rewards is to transfer them to travel partners and use your points to book business class or first class flights.
I have redeemed tons of flights this way over the past six years and in some cases I’ve gotten close to 20 cents per point. This type of redemption results in ridiculous aspirational value.
For example, 100,000 Membership Rewards redeemed at that rate comes out to $20,000 in value. That is just insane.
The problem is it takes a bit of work to understand the different transfer programs and to confidently execute many high value redemptions.
There is a learning curve involved and if you act before you know what you are doing you could end up screwing up big time by stranding points.
And that is sort of the beauty of the airline bonus with these cards.
It allows you to use your points to book flights without having to worry about learning award charts, booking procedures, and trying to find open award seats.
So from a value perspective, there is a lot of intangible value found in the simplicity and convenience.
But while that is true there is still some decent value in the actual cents per point redemption as these bonuses allow you to redeem your points at pretty respectable levels.
The 1.33 cents per point is a little bit less impressive but still better than some options out there.
1.33 cents is also pretty close to the value of many airline miles so this essentially allows you to get the same or similar value you would get if your points were already airline miles.
The 1.54 cents per point rate of the Business Platinum is much more impressive.
It’s slightly better than the 1.5 cents per point redemption rate you get in the Chase Travel Portal with the Sapphire Reserve so this is one of the most lucrative ways to use your points to book flights through a portal.
But once again you have to remember the limitations with his benefit.
If you are using your points to fly business class or first class you can use your points on any airline.
Obviously, those tickets are going to be much more expensive so you may have to use a lot of points for those redemptions.
Let’s say you have the Amex Business Gold. If you redeem points for a $5,000 flight you would spend 500,000 points and then receive a rebate of 125,000 points.
That easily offsets the annual fee but it means you have already used 50% of your allowed rebate potential. For people racking up a lot of points and doing a ton of flying, they could potentially max this benefit out pretty quickly with the Amex Business Gold.
Personally, I like the idea of using this benefit for domestic first class and business class flights because the prices are still reasonable and pretty obtainable.
Remember, you can only redeem at these increased rates on your selected airline for other tickets such as economy tickets.
So if you are somebody that often switches up your airline, this benefit could be much more difficult to use than you would like.
How to use the airline bonus
Choose your airline
The first step you may need to do is select your airline. You can do this anytime by logging into your account and then clicking on the benefits tab at the top of the screen. Then search for the tile with “Airline Bonus” in the title. You will then be able to select from a number of different airlines.
Note: Only the Basic Card Member or Authorized Account Manager on the Card Account can select the qualifying airline.
Selecting your airline only takes a few seconds.
If you have already selected your qualifying airline you will be allowed to change your choice one time each year in January by calling the number on the back of your card. If you do not call to change your airline, the airline selected from the prior year will become your current airline.
In some cases, American Express has allowed cardholders to change the airline more than one time in a year but this tends to be a case by case scenario so my suggestion would be to not push it.
Find your flight
You will proceed through the normal booking process on Amex Travel and all you have to do is select to use your Membership Rewards as your form of payment.
If points redeemed do not cover the entire amount, the balance of the purchase price will be charge to your card.
Note: A flight booked as part of a travel package or booked with the American Express U.S. Representative Travel Network is not eligible for the 25% Airline Bonus.
To book flights with Spirit Airlines, Southwest Airlines, or AirTran Airways, to receive your 25% Airline Bonus you must call American Express Travel at 1-800-428-0253.
Pay with Points requires a minimum redemption of 5,000 points.
One of the biggest things to remember is that you will not see discounted flight prices because this perk is a rebate.
This is one of the drawbacks to the program. You have to have enough points to book the flight at the standard redemption rate of one cent per point in order to trigger your rebate.
After your booking it may take up to 6-10 weeks after charges appear on your billing statement to receive your points back.
I would not get too hung up on using just this benefit to decide between the Amex Business Gold and the Amex Business Platinum.
These two cards are very different and it can make sense to hold onto both of them.
The Gold Card is more about earning points for your spend and it has the ability to earn 4X on the two categories that you spend the most on. These categories include:
Airfare purchased directly from airlines
U.S. purchases for advertising in select media (online, TV, radio)
U.S. purchases made directly from select technology providers of computer hardware, software, and cloud solutions
U.S. purchases at gas stations
U.S. purchases at restaurants
U.S. purchases for shipping
The 4X points applies to the first $150,000 in combined purchases from these 2 categories each calendar year. After you max out that limit, you will only be earning one point per dollar spent.
If you think you will be maxing out the rebate for the Gold Card then it could make sense to apply for the Business Platinum solely on the basis of using the airline bonus perk.
If you used 1 million points you would receive 350,000 points back with the Amex Business Platinum. That is 100,000 points more than what the Amex Business Gold would offer. 100,000 Membership Rewards could easily come out to over $1,500 in value.
So yes you would be paying the $595 annual fee for the Business Platinum but you would be getting almost $1,000 more value with the addition of the Amex Business Platinum than you would by just sticking with the Amex Business Gold.
Airline Bonus FAQ
Can I change my airline?
You are allowed to change your airline once per year in January although sometimes exceptions are made to this rule and multiple changes are allowed.
What airlines can I choose from?
Alaska Airlines American Airlines Delta Airlines Frontier Airlines Hawaiian Airlines JetBlue Airways Spirit Airlines Southwest Airlines United Airlines
When do I receive my rebate?
It might take up to 6 to 10 weeks after your charge posts for you to receive your rebate.
How much is the airline bonus rebate?
For the the Amex Business Gold, the rebate is 25% and for the Amex Business Platinum the rebate is 35%.
How many cents per point does the rebate amount to?
For the the Amex Business Gold, the rebate allows you to redeem your points at a rate of 1.33 cents per point and for the Amex Business Platinum it is a rate of 1.54 cents per point.
What are the limits for the rebate?
The rebate limit for the Amex Business Gold is up to 250,000 bonus points per calendar year and the rebate limit for the Amex Business Platinum is up to 500,000 bonus points per calendar year.
Final word
The airline bonus is a great perk because it allows you to redeem your points at very competitive levels without losing a lot of flexibility.
The drawback is that this perk can be a bit restrictive. For economy tickets you can only use it on your selected airline, the rebate is applied after the fact, and you can only receive a certain amount of points back each year.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Can You Pay for a Car with a Credit Card? (Helpful Tips) [2021]
There are a lot of purchases you wouldn’t expect to be able to pay on a credit card: lawyers, mortgages, tuition, taxes, loans, the list goes on. I’ve even heard of people paying child support with a credit card. But undoubtedly one of the most common large purchases that just about every person makes is a car.
So a lot of people wonder if they can pay for a car with a credit card?
This article will walk you through the process of paying for a car with your credit card and give you some specific tips for how to best use a credit card to pay for a car.
Yes. Some dealerships will allow you to pay for a car with a credit card. However, many dealerships place limits on credit card transactions so you might have trouble paying for an entire vehicle with your card and might have to settle for just making a down payment, usually around $5,000.
Tip: Check out the free app WalletFlo so that you can optimize your credit card spend by seeing the best card to use! You can also track credits, annual fees, and get notifications when you’re eligible for the best cards!
What dealerships take credit cards?
You’ll probably have to just ask around and call the dealerships anonymously to find out if they take credit cards.
I say anonymously because I would NOT reveal that I was using a credit card to make a purchase until it got time to close on the vehicle and the final price was already set in stone. Otherwise, you risk them manipulating the price to cover the cost of the credit card transaction fee.
So consider calling in weeks ahead of time and not revealing anything about your desired car — you might even have someone else call in for you so that they don’t recognize your voice if you want to play it really safe.
If you have an Amex card there’s a specific web portal you can use to locate dealerships that take Amex credit cards. You’ll be able to search for specific types of vehicles, sign-up to receive emails for deals, and even review prices that others paid for the car you want. The program will also show you which dealerships have credit card limits (like $5,000) and which dealerships will allow you to pay the full price for the vehicle.
And if you’re wondering about Carmax, they do not take credit cards.
Many car dealerships will tell you that they can’t take credit cards or that they don’t. Sometimes they are just telling you that because they don’t want to pay the transaction fee on the purchase but there are some legitimate reasons as well.
Transaction (interchange) fees
Credit card issuers make money when merchants pay transaction fees of 2% to 4%, which is one of the ways many of these credit card companies make a lot of their money (especially Amex). So from the dealership’s eyes, they are losing out on maybe 3% of a large transaction which will affect their profits and commission. (The profit margins for car dealerships can be much lower than you probably think.)
While a dealership may refuse to take a credit card and may not be contractually obligated to take your card, you might be able to persuade them otherwise by offering to pay half or all of the transaction fee. Start with presuming you won’t pay any of the fee, then ask about paying half, then ask about covering the entire transaction fee.
Fraud and contested charges
Some dealerships are legitimately worried about fraud, especially if the purchaser is coming in from out of state and has other shady characteristics (e.g., urgent reason for needing a vehicle, etc.). If the dealership sells that car, they’re going to take a huge hit if that card was fraudulently obtained. Also, some people will contest their charges which could cause some major problems for the dealership.
Getting around limits on the purchase
Many dealerships place limits on the amount that you can put on a credit card. For example, I was once told there was a $5,000 limit on what we could pay with a card and other limits might be as low as $2,000 or $3,000. This, again, is sometimes just to avoid having to pay for the transaction fees so if you offer to cover that cost you might be able to get around these limits.
Other times it might just be company policy to limit transactions to $5,000, regardless of who is covering the transaction fee. You can ask them to run multiple purchases of $5,000 and they might be willing to work with you if that’s what is holding them back.
But some dealerships just don’t want any part of a huge transaction like that and won’t budge. If you really want to use your card you might to move on to the next dealership but I suggest trying to be reasonable. Sometimes you might need to consider it a win if you’re allowed to put any spend on a credit card at a dealership.
Some cars might be easier than others to purchase with a credit card.
Is it worth it to purchase a car on a credit card?
When trying to figure out if it’s worth purchasing a card on your credit card I think there are a few major considerations. The first is who is covering the transaction fee?
Dealership paying the transaction fee
If the dealership is paying for the transaction fee then it will usually be worth it to use your credit card whether you’re just earning points on the spend or if you’re hitting a minimum spend requirement. The key to remember is not to reveal you’re using a card too early so that the price doesn’t get inflated.
Tip: If you just want to save cash you could “decide” not to use your credit card at the last minute and offer to not use your credit card if they reduce the price by the amount of the transaction fee.
Customer paying the transaction fee
If you are paying for the transaction fee, then you’re going to have do the math to see if it’s worth it.
If you’re trying to make a huge purchase like a $25,000 car then you would be paying $750 in transaction fee costs (assuming a 3% transaction fee). If you were earning 2% back on that purchase with credit card rewards then you would be losing money on the purchase.
However, if you were meeting the minimum spend requirement for a card offering a huge welcome bonus like the Chase Ink Business Preferred then you might be earning $1,200+ worth of rewards. Plus you’d get $375+ worth of rewards from the 25,000 points you’d earn on the purchase.
So in total you’d come out with over $1,500 worth of rewards and paying a $750 transaction fee would cut into your earnings but still leave you with $750 extra left in your pocket.
If you’re not earning a sign-up bonus, it could still be worth it just to earn the credit card rewards on the spend.
For example, if you were using the Amex Blue Business Plus, you will earn 2X on your purchase (up to $50,000/yr) and if you value Amex Membership Rewards at 1.8 cents per point, then you’d be earning 3.6% back. So even if you paid a 3% transaction fee, you’d still come out on top.
However, in most cases a simple 1% or 2% back card won’t earn you enough rewards to justify a transaction fee if you’re responsible for paying it.
Interest you don’t want to pay
If you’re using a credit card to purchase a car or even make a significant payment you need to have a plan to pay off that bill as soon as you can. If you have 0% APR for an intro period then carrying a balance can make sense but generally rewards credit cards are going to have high APRs (10 to 20%+) and you’d be able to get much better financing through the dealership, a bank, or a credit union, at around 2% to 5% APR. Credit cards don’t make good car loans.
Interest you might want to pay
You might also want to think about the rewards you’d earn by making the monthly payments with a credit card. There’s a service called Plastiq that allows you to use a credit card to send out checks. It comes with a 2.5% transaction fee but if you earn referral credits you can make payments for free.
If you got great financing and could minimize transaction fees using a service like Plastiq, a monthly car payment could allow you to more easily hit your minimum spend requirements for various credit cards over time and you could still come out on top with credit card rewards earnings.
Investing alternatives
If you are going to pay off your credit card in full after making the payment on the car, don’t forget to factor in alternative uses for those funds, such as investing. Let’s say you earned $750 in rewards by using a card to pay for a $25,000 car like in the example above. That’s 3% back.
But if you’re a savvy investor you might be able to put that $25,000 to use and earn much more back investing, even factoring in the interest you’d be paying on an auto loan. Everybody’s going to be different but the goal is to maximize your rewards in a way that’s most comfortable to you.
What about credit card benefits?
If you were hoping to get credit card benefits for your purchase like extended warranty coverage or something along those lines, automobiles are usually excluded from benefits like that.
4. Motorized vehicles (passenger cars, trucks, motorcycles, boats, airplanes) and their parts, subject to high risk, combustion, wear and tear or mileage stipulations
So don’t expect to get any special coverage from your credit cards.
What cards can you purchase a car on?
Depending on the type of car you’re after, you might need an extremely high credit limit.
Charge cards
For car purchases, a charge card will often be the best route because they have no established limit. While they have no limit, you’re generally responsible for paying off the bill the next month.
The issue with charge cards is that it can take a while to build up the upper limits of your charge card’s “unofficial limit.” For example, if you opened up an Amex Gold Card last month and that’s your only card with Amex, Amex is probably not going to “know you well enough” to allow you to throw a $20,000+ purchase on your charge card. Your card would get flagged and the chances of that transaction going through would be very small.
So the best way to use a charge card to purchase a car is to maintain a relationship with Amex for a while and try to use it for as many large purchases as possible. Then, call into Amex and inquire about the spend power of your card (or check it online). That will tell you right there whether or not you’ll have the capacity to make the purchase.
The problem with this is that if you’re trying to hit a minimum spend requirement for the charge card, that doesn’t leave you that long to show Amex your spending habits. Luckily, there is a solution for this.
Make pre-payments
Something else that you can do is to make a pre-payment on your charge card. For example, you could make a $10,000 payment on your charge card so that your balance goes to -$10,000. That would effectively increase your credit limit by $10,000 — just make sure to run this by Amex or whatever issuer you’re working with before you do it. I know Amex will allow you to do this, but I’m not sure about other issuers.
High limit credit cards
If you don’t want to go the charge card route you can look into getting cards that offer high credit limits. These are typically premium cards like the Black Card and cards like the Chase Sapphire Reserve but other issuers can also provide you with large credit limits.
If you have enough room on your credit card for the purchase, you should still contact your credit card issuer and put them on notice about the large purchase, since you don’t want the purchase to get flagged for fraud.
Use multiple cards
One of the best strategies is to simply use multiple cards to make your purchase.
As mentioned above, meeting a sign-up bonus for a credit card can easily justify the transaction fee. Well, if you end up meeting the spend requirement for multiple credit cards then you can earn multiple sign-up bonuses, which is definitely the best route for getting the most value from credit cards.
Assuming around a value of $500 per sign-up bonus, that could be a way to earn $3,000 in sign-up bonus value alone (plus you’d earn points from the spend).
Utilizing several credit limits will be necessary if you don’t have very high limits on your credit cards and it could help you stay under mandatory $5,000 limit transactions.
Note that certain issuers like Chase will allow you shift credit between your cards so you could always allocate to one credit card to maximize the limit with that card. Also, some issuers like Citi will allow you to request a credit limit increase (sometimes without a hard pull) so you could always raise your credit limit that way.
Cash advances off
Whatever card you use, it’s a good idea to bring your cash advance limit down to $1 to avoid the purchase coding as a cash advance. Sometimes bringing down your cash advance to $0 can cause processing issues, so I generally bring it down to $1 when I’m worried about something coding as a cash advance.
Pay for a Car with a Credit Card FAQs
Should you pay for a car with a credit card?
Paying for a car with a credit card can often make sense if you are earning lucrative rewards (especially a new welcome bonus). Just make sure the car dealership is not increasing the price of the vehicle to cover the transaction fee.
Does American Express allow you to buy a car with their credit cards?
American Express has a special web portal to help you find dealerships that will accept American Express cards.
What is the fee for buying a car with a credit card?
Some car dealerships may not charge a fee while others will charge a 2% to 4% fee.
Are car dealerships required to accept a credit card?
No, car dealerships are not legally required to accept a credit card.
Can I get an extended warranty when buying a car with a credit card?
Typically, motorized vehicles are excluded from the terms of conditions when it comes to extended warranties on credit cards.
Final word
Using a credit card to pay for a card isn’t always easy. You’ll often be hindered by limits but if you shop around enough and negotiate properly, you should be able to find a dealership that will work with you. You’ll need to factor in the transaction fees you might have to pay, but even if you have to pay them, it can still make sense to use your credit card to pay for a car.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Many people are interested in the Chase Freedom Unlimited card. It’s a special credit card that comes with no annual fee and has a high earning potential. And while this is one of the easier Chase cards to get approved for, it still is not a gimme and you will still need a decent credit profile to get approved.
In this article, I will tell you what type of credit score is needed to get approved for the Chase Freedom Unlimited card and also talk about other ways that you can improve your approval odds.
What credit score is needed for the Chase Freedom Unlimited?
Typically, to get approved for the Chase Freedom Unlimited you will want a decent credit score of at least 675 or above, though I’d personally prefer to have a credit score at or around 700 before applying. However, your credit score is only one factor in the decision to get approved for a credit card so you will want to analyze additional factors.
If you do enough research you can find data points of people getting approved for the Chase Freedom Unlimited card with credit scores in the 660 range and even 650 range. However, when you start getting in the lower ranges you’re going to probably get some very small credit limits. Also your odds are going to be on the lower side so I would suggest to try to get as close to 680 to 700 as possible before applying.
Also, you want to consider all of the additional factors below that I discuss in more detail.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Additional factors to consider
In addition to your credit score below are several factors that you want to think about when applying for the Chase Freedom Unlimited.
Credit history
Many people get excited about applying for credit cards whenever they check their credit score and see that they have a decent score in the 700s. However, sometimes it is possible to have a credit score in the 700s while having virtually no credit history.
In these cases, your credit score can be quite deceptive because it makes it look like you have better approval odds than you probably do. This is especially the case when you are dealing with a bank that likes to see you with ample credit history.
I would definitely classify Chase as a bank that usually likes to see you with an existing credit history before they approve you for one of their credit cards.
Just how much credit history that you will need is going to depend on other factors but generally I would say it’s a good idea to have 6 to 12 months of credit history before you apply for one of their credit cards.
For example, the Chase Freedom was my very first “real” credit card.
At the time I had only been issued a Macy’s store credit card with a $300 credit line that was about eight months old and aside from a car loan I really didn’t have any other credit history. However, whenever I applied for the Chase Freedom card I was approved with a credit line of about $1,600.
So my advice would be to try to establish some credit history before going for a Chase card. If your credit score is very low, it might be easier to get a credit card like a secured credit card or a credit card designed for low credit profiles.
I really don’t think it matters what type of card it is. As long as it shows up on your credit report and you have 100% payment history, it’s going to benefit you.
Another great way to bolster your relationship with Chase is to consider opening up a Chase checking or savings account. It is very easy to open up an account and you can easily build up your relationship with Chase this way.
Again, I would try to keep that account open for about six months so that you could properly take advantage of your banking relationship. It will probably also help if you have consistent activity within that bank account such as constant deposits and withdrawals.
Income
Income is another factor to consider when trying to determine your credit approval odds. When it comes to the Chase Freedom card, income is probably one of the least significant factors for approval when compared to other cards. For example, if you are going for a premium card like the Chase Sapphire Reserve then you are going to want to have a decent income just to get approved.
But because the Chase Freedom cards are entry level cards income is probably not as significant a factor for approval and mostly just relevant for determining your credit line.
The Chase Freedom Unlimited card is subject to the 5/24 Rule. So if you have opened up 5 or more accounts in the past 24 months you won’t be approved unless you’re able to get around that rule with something like a pre-approval.
Chase Reconsideration
Whenever you apply for a Chase credit card your application could go in many different directions. There are a number of different types of messages that you could receive after you submit your application and if you want to find out what each of these messages means then click here.
At some point you might be denied or at least not instantly approved and you will consider calling into the Chase Reconsideration Line. This is a special phone line that you can call and try to convince a representative to approve you for your credit card.
When calling, there are certain things that you want to say and other things that you want to avoid saying. For example, you want to make sure to give them a legitimate reason for why you want that credit card and you also want to be able to clearly explain any potential negatives that they might see on your credit report.
This phone call can really make or break your approval odds.
The Chase Freedom Unlimited is also one of the few Chase credit cards that you can get pre-approval for. I’d recommend that you read up on my article about pre-approvals to get a better sense of how these work and tips for getting them (but keep in mind that things are always changing).
Chase Freedom Unlimited credit lines
You might also be wondering what type of credit limit that you can expect to get with the Chase Freedom Unlimited. Credit limits with the Chase Freedom card can vary dramatically but will likely depend on four main factors:
Your credit score
Credit history
Utilization
Income
If your credit profile is pretty thin, your score is borderline, and your income pretty mediocre or low, you might be only issued a very low credit limit of something like $500 to $1,000.
However, if you have a more established credit profile, a good score, and a six-figure plus income, you could get a credit limit over $20,000. So it really just depends.
If you are not happy about your credit line, you might be able to request a credit line increase but you should probably be patient. I would recommend that you wait 6 months before requesting a credit line increase.
If you are dealing with a low credit limit then you should consider “cycling” your credit limit. Basically, what you do is spend up to your credit limit and then pay it off a couple of times a month. Eventually, Chase should see this and then automatically increase your credit limit.
The Chase Freedom cards are some of the easiest Chase credit cards to get approved for. That is because they are the entry level cards and they are designed for people just getting into credit cards who may not need or want a premium type of card. But still, Chase does not approve just anybody and it is important to have a little bit of credit history and a decent score before applying.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Chase Sapphire Preferred Credit Score & Income Needed for Approval [2021]
One question I sometimes receive in emails is “what credit score do I need to get approved for the Sapphire Preferred?” I usually prefer not to give any specific credit score needed for an approval because banks like Chase look at so many different factors and you never know what they’ll decide.
Still, there are a few things you can look at to get a good sense of your Chase Sapphire Preferred approval odds.
Here’s a look at the credit score and income requirements for the Sapphire Preferred and some tips on how you can increase your approval odds.
Credit scores can often be deceptive because you can have a “great score” in the 700s but with little to no credit history, you’ll likely struggle to get approved for the Chase Sapphire Preferred.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Credit history
If you have virtually no credit history (only a few months of history) you might want to look at some cards for fair credit scores that you can use to build up your score before applying for Chase cards.
If you’ve got only a little bit of credit history (one year or more), then consider going with a card like the Chase Freedom, which is easier to get approved for than the Sapphire Preferred.
Once you have the Freedom for around 6 months or so, you might be ready to try your odds with the Sapphire Preferred (depending on how your score looks).
Utilization
Utilization is how much of your total credit limits you are currently using (or utilizing). You can figure out this number by dividing the amount of credit currently being used by your overall credit limit.
So if you’re currently using $5,000 worth of credit and your overall credit limits is $10,000 then you would divide $5,000 by $10,000 to get 50%.
This factor can be very important. You want your overall utilization to at least be below 30% but I prefer to keep mine around 5%.
However, you need to also pay attention to the utilization on your specific credit cards.
If you have another Chase card that’s maxed out or that has a very large outstanding balance, that’s going to look very bad when you apply for another one of their credit cards. In that case, you’d definitely want to pay that credit card down first.
Late payments
Another thing to be aware of is how late payment can affect your approval odds. If you have lates within the past year or two, you might get some push back because of those. This is especially true if your late payments were with Chase.
If you have really fresh late payments (that just hit within the past few months), I would probably wait several months before I tried applying.
Boosting your credit score
There are a few tricks you can use to boost your credit score so that when you apply you’re in a little better shape when it comes to your credit score. You can read about these methods here.
Credit score needed for the Chase Sapphire Preferred
Assuming you have a few years of account history (with any bank), I’d recommend waiting until your credit score is close to 720 to apply for the Sapphire Preferred.
Some report that the average credit score for Sapphire Preferred approvals is about 740, which sounds about right. But this is by no means a strict minimum requirement.
Applicants have gotten approved for the Sapphire Preferred with credit scores in the 600s, so that can definitely happen.
But if your score is on the lower side, the importance of having an established credit history and solid income might be even more important.
Thus, I would not apply for the Sapphire Preferred with a score like a 680, unless I had some other strong factors in my credit report.
There are three major credit bureaus: Experian, Equifax, and TransUnion.
Some banks like American Express like to pull from one credit bureau most of the time (Experian).
However, Chase is harder to predict — I’d say expect an Experian pull and one additional bureau but it could be very location-specific.
Knowing which bureau will be pulled is helpful because if you have one dinged up credit report but others that are in better condition, obviously you don’t want a bank using your bad credit report.
By knowing which banks pull which bureau you can go for credit card issuers that will rely on your best credit score. You can find out how to search which credit bureau your local bank might pull here.
Income needed for the Chase Sapphire Preferred
Another important thing to note is that your stated income is definitely a factor that affects your Chase Sapphire Preferred approval odds. Typically, you want an income of at least somewhere in the $40,000 range.
If you do enough research, you’ll see some data points of approvals with income in the $30,000 and even $20,000 range, but I would not like my odds with those figures.
If it were me, I’d only feel comfortable applying for the Sapphire Preferred with an income of $45,000+.
The lower your income, the lower your credit line will probably be (which will usually be a minimum of $5,000).
Also, note that even a really high income will not make up for a horrible credit score.
If you have a lower income (below or around $30,000), I’d advise to apply for the Chase Freedom and then just start building your credit up for the Sapphire Preferred at a later date.
You can read more data points on income needed for Chase credit cards here.
Consider going for the Chase Freedom if you have a lower income.
Sapphire Preferred credit limits
The Sapphire Preferred requires at least a $5,000 minimum credit limit because it is a Visa Signature credit card.
But you can get credit limits that are much higher. I’m not sure what the average credit limit is for all applicants but myself and several others I know have received high credit limits in the $20,000+ range.
So if your income is on the higher side, you probably stand a good shot of getting a high credit limit.
There are a number of things you can do to improve your odds of being approved.
Open up a Chase bank account
One thing you can do if you think you’re on the cusp of being approved is open up a Chase bank account.
If you maintain that bank account for a few months, it might help push the needle toward the direction of getting approved. Just make sure you maintain it well and don’t get dinged with overdraft fees or anything else that would make you appear less financially responsible.
Read up on the Chase rules
If you think that you’re ready to apply for the Sapphire Preferred, then make sure you read about the Chase application rules first. The Sapphire Preferred is subject to the Chase 5/24 Rule (along with other rules) and these articles will walk you through those restrictions. Or better yet, sign-up for the free app, WalletFlo to get a jump start on your credit card eligibility.
Read up on Chase reconsideration
Also, if you’re a borderline candidate, there’s a high chance that your Sapphire Preferred application will end up in a Chase reconsideration phone call.
This is basically your chance to plead your case on why you should get approved for the card you’re applying for and so it can be a huge factor for getting your credit card application approved.
For that reason, make sure you read up on my tips for the Chase reconsideration line. That will show you how to handle a recon call and possibly get Chase to overturn a rejection and approve you for Sapphire card.
Chase Sapphire Preferred approval times
The Chase reconsideration article above will also give you an idea of what to expect for Chase Sapphire Preferred approval times.
When you’re not instantly approved, you might get messages that a decision will be made in 30 days, two weeks, or 7 to 10 days. Believe it or not, these messages can reveal a lot about your approval odds.
This article will explain to you what to expect and walk you through how to handle the application and reconsideration process.
If you read and study the above articles, you’ll be able to avoid getting denied for reasons that are well within your control.
Sapphire Preferred pre-approval
The Chase Sapphire Preferred is one of the Chase cards that allows you to get pre-approved.
You can check for pre-approvals online or you can go to a Chase branch near you and see if you have any special targeted offers. Every now and again, the offer targeted offers that are even higher than what’s given out to the public so it’s something to consider. You can read all about how Chase pre-approvals work here.
Final word
The Chase Sapphire Preferred is a great card and Chase won’t just approve anyone for it. If you have a decent credit history (a few accounts 3 to 5 years old or more), a decent score (somewhere close to 720), and an income of $50,000+ you probably have some good odds of being approved.
But if you have a thin credit profile (even with a credit score in the 700s) or low income (below $40,000), you might want to hold off on applying for the Sapphire Preferred until you get that score/income up some more and allow your credit card accounts to age longer.
In the end remember that’s it’s impossible to know what Chase will or will not do with your application, so sometimes you just have to apply to get your answer.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Amex Credit Card Application Status: (How to Check, Reconsideration) [2021]
Offers contained within this article maybe expired.
Are you trying to check your Amex credit card application status?
Luckily, Amex makes it very easy to check your status.
This article will show you how to check your status online or over the phone.
I’ll also show you some tips if your credit card application is denied that might allow you get it changed to approved when calling into the reconsideration line.
How to check your Amex credit card application status
You can check your application status online or you can do it over the phone. I personally recommend that you do it online because that’s going to be the quickest and easiest route for many.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Enter your home zip code (the one you used on the application)
Click “Check Application”
Be sure to only include digits when entering your social and ZIP Code.
Once you input your personal information, you’ll be able to view the status of your credit card application.
You should also see the status of prior credit card applications as well (both personal and business credit cards should show up).
As you can see, mine show “Approved” below but other messages you might see are:
Denied
In Progress
Cancelled
Application status: “Denied”
If your status says that you’ve been denied then you’ll probably want to call the reconsideration line phone number found below. Keep reading for more tips on that.
Application status: “In Progress”
If your application is in progress you may just need to wait a few days because Amex is processing your app. Sometimes calling in to the reconsideration line will expedite this but other times you must simply wait it out.
Application status: “Cancelled”
If you see that it’s been cancelled you should call Amex immediately to inquire about what happened (there could have been some sort of verification issue).
For all of these, you don’t want to wait too long to act because if you wait longer than say, 30 days, your application may no longer be considered active and you might have to reapply for a card.
Check your Amex application status by phone
You can also check your American Express application status via phone.
You can try the following phone numbers:
1-866-314-0237
800-567-1083
You’ll probably be asked to enter the last four digits of your SSN and zip code when you call.
If your credit card approval is not instant it could take a couple of days for your application to process. In my personal experience, I’ve never had to wait longer than a handful of business days.
If you suspect things are lingering too long then check with the reconsideration line number below.
How long does it take to receive an Amex card?
You should receive your card within 7 to 10 day business days. However, for some cards like the Platinum Card Amex will allow you to receive it with expedited shipping so the delivery time could be much quicker.
Once you are approved, you should immediately request expedited shipping or else it might be too late.
Can I check for credit limit increase approval?
Note that the above website is not where you you’ll see the status of a credit limit increase request or a balance transfer.
If you have requested either a line of credit increase or a balance transfer on an existing American Express card account, call the number on the back of your card regarding the status of those requests.
However, if you requested a balance transfer for your new credit card, you should be see a link taking you to a screen where you can check on that.
It will state:
If you requested a balance transfer to this card, click here to view the status of that transfer
You’ll then be taken to a new screen where you might have to verify your date of birth to proceed.
Amex credit card rules
Amex, like many other major credit card issuers, has a few specific rules you need to take into consideration when applying for their credit cards. By the way, if you find all of these credit card rules a little complex and confusing, be sure to check out the free app WalletFlo that will automate the calculations for all of these.
The Amex 2/90 day rule
The Amex 2/90 rule does not allow for you to be approved for more than two credit cards within any 90 day period.
Remember, this rule applies to credit cards, not charge cards.
Some applicants are lucky enough to get around this rule and get 3 credit cards in 90 days, but generally they are the exception to the rule.
Things are different when it comes to charge cards, though.
There is no strict limitation on charge cards. However, I would limit charge card applications to about 2 per 90 day period just to be on the safe side.
One credit card application per day
American Express application rules typically (though not always) limits you to one Amex credit card approval per 5 business days.
Again, this does not apply to charge cards but only credit cards. Also, some people have been able to get around this rule in the past.
Five Amex credit cards total
American Express used to limit consumer to four total credit cards but now they allow usually allow you to hold five credit cards at a maximum.
Once again, this rule does not apply to charge cards and there are people who have found ways to get around this rule.
Bonuses are once per lifetime
One of the most important American Express application rules to know about is the once per lifetime bonus rule.
This means that once you open up a specific card, you can never earn the bonus for that card ever again even if you cancel your card and reapply.
There’s no distinction between charge cards and credit cards with this rule, either.
Crack down on gaming
American Express has cracked down on gaming and has decided to start denying welcome bonuses to those who they believe are trying to game the system.
Now, Amex will tell you if you are not eligible for a welcome offer before they ever run your credit.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Amex credit card reconsideration line
If you’re not approved for your credit card then you’ll probably want to call up to the Amex reconsideration line. This phone line gives you the chance to plead your case and show why you should be approved for a card.
Amex reconsideration phone number and hours
Here are the phone numbers and hours for the Amex reconsideration line.
For new customers: 877-399-3083
For current customers: 866-314-0237
Here are the hours of operation:
Monday to Friday: 8am to 12am
Saturday: 10am to 6:30pm
Sunday: Closed
What to say in a reconsideration call
Handling a reconsideration call isn’t very difficult but there are a few things you should consider.
The first is that you need to have a good reason for why you’re seeking a card.
Here are some good reasons for seeking new credit cards:
You need the credit card(s) to help segregate your expenses for some reason (e.g., starting multiple businesses)
You’re switching or trying to build up a relationship with a certain airline like Delta
You don’t want to pay foreign transaction fees or you are attracted to some other benefit (e.g., primary rental car insurance)
You prefer one interest rate (APR) over another (especially when dealing with balance transfers)
Generally, it’s not a good idea to tell the phone reps that you’re just going after a card because you think it has a great sign-up bonus. That will make you look like an unprofitable customer, or even worse, a “gamer” which Amex has come to despise.
But one cool thing about Amex is that they don’t always perform a hard pull on your credit card application.
If you’re a current customer then Amex will often only perform a soft-pull if they reject your credit card application. And sometimes Amex will even perform a soft pull when they approve your application.
I don’t think anybody knows exactly how to predict which type of credit pull will be done by Amex but it’s good to be aware of these.
Amex has a program called Amex Refer a Friend which allows you to send your referral application links to friends and family and if they are approved then you’ll get a nice cut of points or miles.
There is no way to check on the approval status of other people who have used your links though, so you’ll often have to personally verify that they used your link and were accepted. You can read more about the Amex Refer a Friend program here.
Final word
American Express makes it very easy to check on the status of your credit card and loan applications. It’s a good idea to review all of the different Amex application rules so that you have a good idea of what to expect when it comes to the outcome of your credit card application.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
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