Howdy y'all. Chasing some advice
So I was thinking to get an amex card
I'm in my last semester and my wife and I earn 50k between us and we both have a flawless credit history with a 'good' score of 675. However the Explorer card requires
I have a personal or household gross (pre-tax) annual income of $65,000 or more
Do I have a chance in hell or will I jut be damaging my credit by applying
Cheers
That is a quote from their website
household gross
You do not meet the criteria, so most likely you will get rejected and waste everyone's time.
I understand where you're coming from however I've had a couple of people message me about being approved under the criteria
Thanks for your input
Then go for it. You're the only person who can find out. Maybe those people have the same financial situation/history as you, maybe they don't.
Might wait to see if a few more people are able to share their experiences
Cheers though
Could be people just f'ing with you so you make the application, affect your credit score and still not get approved
Does it even let you proceed with the application if you don't out 65K or more into the income section?
Not entirely sure, might check. Yeah i'm as skeptical as the next guy, just figured other people may have tried
edit- it does let you proceed
Wouldn't it be better to get a CC which you are eligible for (if you need a CC)? No point getting a rejection on your record.
Common sense would say so lol
I thought the eligibility may have been more guidelines as opposed to rules
Not many people appear to have experienced trying
Because they realise that it's a stupid thing to experiment with since if it turns out they stick to what they say, it will damage their credit rating making it harder in the future to get another credit card from another institution, or maybe even a home loan.
IMO work out what you are trying to achieve with a particular CC and see if it's really worth it for you. Free points are a nice one off but the reality is they come around so often and even if you have a specific purchase in mind where you could get great rewards, these cards are designed to make money somehow (typically from people paying annual fees or interest) in which case you need to work out if this really is the optimal choice.
You're exactly right
david jonescards are isued by amex it allows household income. the plat edge application asked for partners income. id say give it a go. you may be best apply for the plat edge i think it requires less income?
Just keen on the 100,000 free points but I think you're right
50k between 2 people, wow poverty line wanting a CC, not smart
We'll be on 135k in 3 months. Using it for the rewards while moving and buying a home
cheers
Apply once you earning 135k………
Common sense isn't common is it.
We'll be spending about 25k savings moving, don't see how it would make sense not to get rewards, dont you?
you typically get $1 return on every $125 spend
on your 25k that is $200
now deduct the annual fee for your card $99 - $200 and any cc surcharges for payments particularly AMEX of 1.5%-4%
Thinking low annual fee card forget 1/125 you'll get 1/500
It's hardly worth the effort.
Get a low interest card instead as a starter.
They don't allow joint-account holders with Credit Cards so joint income is not taken into consideration.