Amex Funding Guide
*Disclosure: For Educational Purposes ONLY*
**Step 1: Assess Your Credit Profile**
- Ensure your credit utilization is under 30% on each credit card.
- No derogatory marks, late payments, charge-offs, or collections within the last 30 Days!
- Very Important if you do not have an Amex Tradeline we suggest you get one! This will allow you
to be in the Amex Ecosystem which allows you to have Greater Approval Odds!
- Use the link to purchase one
- Amex Tradelines
- Check your credit score and report if you need to use a new credit monitoring site to get an
accurate picture of your score use the link below
Myscoreiq
**Step 2: Check Your Credit**
- If you are using a PROFILE make sure you have at least
- 2-3 Tradelines
- 1 Primary (Reporting at least 1 Payment)
- 200+ Public Records
- Keep inquiries under 4; ideally, maintain 3 or less.
- Consider removing inquiries using a DIY approach or professional consultation.
Inquiey Removal
**Step 3: Understand the Application Process**
- Know that lenders may not verify all information provided on your application.
- Be prepared to provide details like name, address, income, and housing status.
- Keep in mind that this method comes with no guarantees. Every credit file is unique, so the
outcomes can differ.
**Step 4: Apply for American Express Cards**
- Aim for a credit score of at least 690.
- Amex Pulls from Experian You need a 680+ For Personal and a 690+ for Business
- Put Your Annual Income at $71,000-$83,000 ( Mix-up the numbers do not use even numbers)
- Rent at $1200-$2200
- 5+ Years at employment
- anything over $91,000 + will require you to sign a 4506-T form (verification from IRS- Transcript)
- Have at least 2 primary accounts on your credit.
- Apply for 4 AMEX cards simultaneously: 2 personal and 2 business.
- Fill out applications for all 4 cards across different browsers.
- Submit applications within 30 seconds of each other.
**Step 5: Handling Denials**
- If denied, contact the Amex reconsideration line (800-567-1083) for clarification and potential
reversal, Making the effort to speak with a representative could possibly change the outcome or at
least allow you to learn more about the reason for denial and what you can improve prior to applying
in the future.
- Opt-in or opt-out of receiving pre-qualification offers to manage future applications.
**Step 6: Understanding American Express**
- Be aware of high annual fees, but also consider the benefits of Amex's point system.
- Know that Amex typically doesn't perform a hard pull for existing customers applying for new
cards.
- Understand the timing and process for requesting a credit limit increase with Amex.
- How long do I have to be an AMEX customer to request a credit limit increase?
AMEX allows a credit limit increase on credit cards 60 days after account opening, and one credit
limit increase, per card, every 6 months. AMEX has a 60-day 3X RULE, so on your 61-day call
AMEX
ask them to 3X your limit. AMEX will then give you 3X your Limit ex: If you have 10,000 3X now you
have 30K
**Step 7: Beware of Limitations and Considerations**
- Be cautious of derogatory marks on credit reports, which may lead to application denials.
- You cannot be approved for more than two consumer cards within a 90-day period. Additionally,
you cannot be approved for more than one consumer card every five days.
- You can apply for a business card and a consumer card on the same day, and Amex may combine
the credit inquiries.
- Some consumers may currently hold five or six Amex credit cards but would be declined for any
additional cards.
- Besides having good to excellent credit and adhering to the rules on the number of cards you can
have or apply for, American Express will also review credit report information, including your
payment history and credit utilization.
American Express Cards for Bad Credit or No Credit
- American Express, similar to Chase, does not offer a public card option for consumers with no
credit or poor credit. If you are in this situation, there are plenty of card options that can help you
build or rebuild your credit.
How to Get Your Annual Fee Waived
- To get the annual fee waived or receive a retention offer, follow these steps:
1. Call 800-528-4800.
2. Say: "Annual Fee."
3. Enter the last five digits of your account number.
4. Explain: "I understand I have an annual fee coming up... I'd like to get that waived."
5. Add: "I'm not sure if I feel the value of the card" (this will encourage them to negotiate with you).
**Note:** This is only applicable after you have used the card.
**Step 9: Military Benefits**
- If you're in the military, explore Amex's policies regarding annual fee waivers for active-duty
personnel.
**Step 10: Card Options**
- Explore Amex's range of cards, considering both annual fee and no annual fee options, based on
your preferences and needs.
By following these steps, you can navigate the process of maximizing your credit limit effectively
while understanding the nuances of American Express card applications and benefits. Remember to
use credit responsibly and within your means.
*Disclosure: For Educational Purposes ONLY*
