Amex Blue Cash Preferred Credit Score Requirements – Forbes Advisor

Credit scores are essential for lenders to determine how likely you are to repay your debt. The higher your credit score is, the more likely you are to get approved. If you’re applying for the Blue Cash Preferred® Card from American Express, Amex requires a good to excellent credit score for approval.

Here is a breakdown of the credit score ranges based on the FICO scoring model.

• Good: 670-739
• Very good: 740-799
• Exceptional: 800+

Keep in mind that Amex doesn’t solely look at your credit score when determining your eligibility for this card. As we’ll explain below, there are a few other factors that could influence your approval decision in addition to credit history.

When getting approved for the Amex Blue Cash Preferred card, your credit score isn’t the only component considered. American Express evaluates numerous factors, including:

• Income: A higher income makes you an attractive candidate to credit card companies, indicating that you have the financial means to make your payments on time.
• Employment status: Lenders want to ensure that you have a steady source of income to pay your bills. Unemployment or unstable employment history may decrease your chances for approval.
• Debt-to-income (DTI) ratio: A high DTI shows lenders that you owe more than you earn. Credit card companies may hesitate to give you more credit if this is the case.
• Credit history with Amex: Amex also looks for a solid payment history on other Amex products, as well as the amount of credit accounts you have open.
• Overall credit history: Credit card companies don’t just look at your credit score in isolation when assessing your creditworthiness. They also consider your track record on payment history, credit utilization, credit age, recent credit account openings and account types.

Amex makes applying for their Blue Cash Preferred card easy. Just follow these steps to get a decision in minutes:

1. Visit the American Express website and visit the Blue Cash Preferred® card page.
2. Click on the “Apply Now” button to start the pre-qualification application process, which does not result in a hard inquiry.
3. Enter your personal information, including your name, address, date of birth, Social Security number and anyone you want to add to your account.
4. Provide your employment information and annual income.
5. Review the terms and conditions of the card and agree to them.
6. Submit your application and wait for a decision.

If you don’t receive an instant decision, call the New Accounts department at 1-888-826-3471 (Mon-Fri 6 a.m. – 9 p.m. MST) to check the status of your application. You can also apply over the phone or get more information by calling 1-800-243-3888.

If Amex denies your Blue Cash Preferred card application, it may be due to a low credit score, a high DTI, recent delinquencies, bankruptcies or insufficient income. You can call Amex at 1-800-567-1083 to review the decision. However, a reversal isn’t guaranteed.

You can reapply no earlier than 30 days from the date of the decline letter before submitting a new application. Until then, you can take steps to improve your credit score and increase your odds of approval.

If Amex rejects your application, you may want to reapply at a later date. By following these steps, you can improve your credit score and increase your chances of being approved for the Amex Blue Cash Preferred card in the future.

• Pay your bills on time. Even a single missed payment can cause your credit score to drop, making it harder to get approved. Ensure you make at least the minimum payment on your statement before the due date to avoid late fees and keep your score intact.
• Keep your credit utilization ratio low. Experts recommend keeping your credit utilization at 30% or less of your total credit limit. High credit usage can negatively impact your credit score.
• Check your credit report for inaccuracies. Errors in your credit report can result in significant damage to your score. So, it’s important to stay vigilant and dispute any errors. You can get a free credit report from the three major credit bureaus annually by visiting annualcreditreport.com.
• Avoid applying for too many new credit accounts at once. Sending multiple credit card or loan applications in a short period of time can result in multiple hard inquiries on your account, which could lower your credit score.
• Consider alternative ways to build your credit. If you have little to no credit history, you can build your credit profile through a secured credit card or by becoming an authorized user on someone else’s account.

The Blue Cash Preferred® Card from American Express is a highly sought-after credit card with lucrative perks, but it requires a good credit score and proof of creditworthiness to qualify. Fortunately, Amex offers a preapproval tool so you can see if you qualify for the card before you apply and submit to a hard credit check.

To view rates and fees for Blue Cash Preferred® Card from American Express please visit this page.