American Express

SCO

How strict are American Express with there minimum income limit?

Venusflytrap

SCO wrote: »

How strict are American Express with there minimum income limit?

Though AMEX ask that you are able to answer 'yes' to all of the eligibility criteria, it may not be applied verbatim, and a number of factors may warrant a refusal.

The income limit is a combined household amt, so handy for p/t working couples. On my p/t income alone I wouldn't come even close to the £30000 threshold when applying for the AMEX nectar CC.

Which card are you looking at?

SCO

Venusflytrap wrote: »

Though AMEX ask that you are able to answer 'yes' to all of the eligibility criteria, it may not be applied verbatim, and a number of factors may warrant a refusal.

The income limit is a combined household amt, so handy for p/t working couples. On my p/t income alone I wouldn't come even close to the £30000 threshold when applying for the AMEX nectar CC.

Which card are you looking at?

Probably the retail rewards or platinum cashback card both have the 30k income i have just over 20k match all the other criteria though.

Venusflytrap

SCO wrote: »

i have just over 20k match all the other criteria though.

Is this your household income? You say "I", so I assume that you're either single or your partner doesn't work?

SCO

Venusflytrap wrote: »

Is this your household income? You say "I", so I assume that you're either single or your partner doesn't work?

Yip single. Would household income include people u share a house with or would that be pushing it i.e. is it meant to be a partner?

Venusflytrap

SCO wrote: »

Would household income include people u share a house with or would that be pushing it i.e. is it meant to be a partner?

From my understanding, it needs to be a partner or relative.

YorkshireBoy

SCO wrote: »

Would household income include people u share a house with or would that be pushing it i.e. is it meant to be a partner?

From the first page of the application form...

I have an annual household income of at least £30,000 (i.e. your personal income plus your partner's income)

SCO

Would it most likley be declined if i applied with an income less than 30k?

YorkshireBoy

SCO wrote: »

Would it most likley be declined if i applied with an income less than 30k?

Your income is a good bit less than the required amount though. If you're not bothered about possibly wasting an application go for it, but they stipulate £30K for a reason...ie they want you to be able to (afford to) make them significant income from the higher fees they charge the merchants.

SCO

YorkshireBoy wrote: »

Your income is a good bit less than the required amount though. If you're not bothered about possibly wasting an application go for it, but they stipulate £30K for a reason...ie they want you to be able to (afford to) make them significant income from the higher fees they charge the merchants.

how much does it dent my credit rating when i get a declined app on it?

lisyloo

I personally would not bother applying.
They state £30K for a reason. If you were on £29K then perhaps, but you are quite a long way out.
Sorry if that's not the answer you want but you should consider whether it's worth "wasting" an unnecessary credit search on this.

There is a huge difference between £20K and £30K.
Let say your living costs are £10K.
Someone on £30K has TWICE the disposable income than someone on £20K, not 50% more as it may appear.
(Yes I know we need to look at NET and not GROSS but the principle applies).