The American Express credit card is the preferred card for many people. This is a credit card with a low interest rate, and an offer that stay valid for a long time. It is also reported to have a very high level of security. When it comes to your credit score, the American Express credit card scores very well.
The reason that American Express is such a great card is due to the credit scoring system that they use. If you have an excellent credit score, this can result in you getting a card with low interest rates and no annual fee. However, there are American Express cards that have a low credit score, but they do not make it so difficult to qualify that they end up being hard to get. So how can you find out whether you will be accepted or not?
The first thing that you should do is to look up the credit rating of any potential card offers. The best way to do this is by checking your credit report at least once a year. You need to know exactly what your credit score is, because this will be necessary when you go to apply for any American Express card.
The second thing that you want to do is to try to get the lowest interest rate possible. If you go to an application website and apply for a card, it is more than likely that the website will automatically look up your credit score to determine the interest rate. So, if your credit score is low, you might get denied. This is why it is important to compare a variety of different cards to see what best suits you.
The last thing that you can do is to pay off your balance on an American Express card every month. If you keep the balance low, this will help you not only raise your credit score, but also keep it low. If you are like most people, having a lot of debt on a card can actually hurt your credit. By paying it down, you are showing lenders that you are responsible. If you are in the high risk category for American Express cards, you may need to find a credit card with a lower interest rate.
In conclusion, getting an American Express credit card can be beneficial for those who qualify. If you have a low FICO score, you can still get this card. If you already have a credit card, make sure that you pay it down as much as you can before you apply for another one. The benefits to owning an American Express credit card are many, so take the time to find the one that works best for you.