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Updated February 16, 2018

American Express Platinum Credit Score: What You Need to Know

Read more about The Platinum Card® from American Express, a CreditDonkey advertiser
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The average The Platinum Card® from American Express cardholder has a great credit score. But credit requirements may not be as tough as you think. Find out how to improve your odds.

How to Get Approved for AMEX Platinum

The American Express Platinum has long been the premium travel reward card.

Surprisingly, for a luxury card with a $550 annual fee (See Rates & Fees), the average cardholder credit score isn't quite as high as you would expect.

What credit score do you need to get an American Express? To be approved for American Express Platinum, you need a good to excellent credit score. An excellent score usually means around 720. However some applicants with lower credit scores could get approved with a strong history of making payments on time.

Credit Score Needed for AMEX Platinum

There are multiple "credit scores" available. But in general, 720 is considered an excellent score. The AMEX Platinum usually requires excellent credit.

The credit score is not the only thing that AMEX considers when reviewing your application. They will look at other factors as well.

American Express Platinum Application

Factors That American Express Considers

Many things are taken into account during the decision process. Consider these factors to help improve your AMEX Platinum approval odds:

Note: American Express has a Once per Lifetime rule. This means that if you have previously owned this card before, you will not receive another welcome bonus offer if you reapply and are approved for the same card again.

  • Your credit score: Banks will usually pull your credit report from a couple of the three credit bureaus (Equifax, Experian, and TransUnion), as your scores may be different across each bureau. AMEX usually pulls from Experian, so know your score from this report before applying.

  • Your payment history: Your payment history will tell AMEX whether you'll be capable of making your payments on time.

  • Your total open cards: AMEX doesn't have a 5/24 rule like Chase, but a lot of open cards could mean that you're not good at handling your money. Or that you open a lot of cards for the bonuses. Your chances may be lower if you've opened a lot of new cards recently.

    Note: American Express has a maximum limit as to the number of AMEX cards you can owe. Currently, the unofficial limit is 4 AMEX credit cards and 4 AMEX charge cards. Though AMEX says that approval really depends on your credit.

  • Average age of your accounts: This is a card for experienced credit card users. If your other card accounts are still pretty new, this doesn't give AMEX much info on whether you can handle your personal finances responsibly.

  • Your credit utilization: This means how much of a balance you're carrying compared to your total limit. Ideally, you should never go over 30%. A high percentage is a signal that your income does not support your spending. It's best if you apply for this card after you have paid off your balance on your other cards.

  • Your income: With an annual fee of $550, the Platinum is a luxury credit card targeted towards heavy spenders. AMEX may also look at your income to make sure it can support it, particularly if your credit score is lower. Most Platinum cardholders have higher incomes in the six digits. But your spending limit is determined based on your usual spending patterns, so people with lower salaries may get approved for this card too.

  • Prior relationship with AMEX: If you already own one of the AMEX credit cards, you could win some extra points. It could show AMEX that you can responsibly handle credit, which may make them more willing to issue you a card.

If you think you may not meet any of these factors, it doesn't mean you can't get approved. Read on.

What Can You Do If You Don't Get Approved?

If you get a rejection, it may not be the end. Here are a couple of things you can do:

  • Work on building your credit: If you still get denied, or you know you're not quite there yet, then just work on building your credit.

    • Work on paying off the balances on your other credit cards. Don't miss or be late with any payments.
    • You can ask for credit limit increases on your other cards, which will help with the credit utilization ratio.
    • Consider applying for another AMEX credit card first. A prior relationship may help your odds.

Remember, you don't have just one chance. You can apply again after your credit has improved. Terms and conditions apply.

That's the great thing about working on building a good credit history. If you don't qualify the first time, once you fix your credit, you have another shot at getting your American Express Platinum card. It pays to keep trying after you've improved your credit history.

Note: You can usually only get approved for one AMEX credit card every 5 days, and two cards every 90 days.

The Platinum Card from American Express
Apply for The Platinum Card from American Express
At American Express' Secure Site
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/AN/A
$550

How Credit Score is Determined

© CreditDonkey

Your credit score is made up of five factors:

  • Payment history (35%): Do you pay your bills on time and do you have a balance?

  • Credit utilization (30%): How much credit you're using compared to what you've been given

  • Length of your credit history (15%): Length of time you've had credit accounts and activity

  • Types of credit (10%): What kind of credit you have (credit cards, car loan, student loan, etc.)

  • New credit (10%): # of new applications for credit or inquiries

Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

For rates and fees of the American Express Platinum card, please click here.

More from CreditDonkey:


American Express Platinum Review: Is It Worth It?

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American Express Membership Rewards Review



The Platinum Card from American Express
Apply for The Platinum Card from American Express
At American Express' Secure Site
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status available to Basic Card Member only.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts® program at over 1,000 properties. Learn More.
  • $200 Airline Fee Credit, up to $200 in statement credits per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
  • Go to issuer's official application, terms, and details
Introductory Bonus OfferTravel RewardsAirline RewardsHotel RewardsPoint RewardsNo Pre-Set Spending LimitConciergeEventsCar Rental Insurance Extended WarrantyPurchase ProtectionReturn Protection$0 Fraud LiabilityIdentity Theft Assistance
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/AN/A
$550

Compare American Express Platinum to:

Compare AMEX Platinum Card vs American Express Gold

American Express® Gold Card

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Chase Sapphire Preferred® Card

Compare AMEX Platinum Card vs Delta Reserve

Delta SkyMiles® Reserve American Express Card


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American Express Platinum Benefits

Are the benefits of the Platinum Card® from American Express worth it? Read this in-depth guide to make the best use of the perks.

Learn more about Travel, Airline and Hotel cards:

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Hotel

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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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