You Can Book Nearly Any Airline Through The Amex Travel Portal
The standard redemption value when you redeem Amex Membership Rewards points for travel through the Amex Membership Rewards travel portal is 1 cent per point. For example, a $300 flight will cost 30,000 points.
Using your points through the Amex travel portal can be a very good deal for cheap fares. However, this isnt the best way to book fancy Business Class flights and luxury hotels thats when youll want to transfer your points unless youve got the Amex Business Platinum Card .
Month Bonus Rewards Restriction
Another restriction you may see in the Wells Fargo terms and conditions is targeted at the bonus rewards earned by new cardmembers and restricts the bonus rewards earned on a card to once every 15 months. The language states, âYou may not be eligible for introductory annual percentage rates, fees, and/or bonus rewards offers if you opened a Wells Fargo credit card within the last 15 months from the date of this application and you received introductory APR, fees, and/or bonus rewards offers â even if that account is closed and has a $0 balance.â
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How Hard Is It To Get The Amex Business Platinum
Now can be one of the best times to try for this benefit-packed card .
As mentioned above, new The Business Platinum Card® from American Express cardholders have the opportunity to earn 120,000 Membership Rewards® points after spending $15,000 on eligible purchases with their Card within the first 3 months of Card Membership.
The annual fee is $695 .
Should You Apply For Multiple Credit Cards At One Time
While using multiple credit cards responsibly can increase your credit score, you should not apply for them all at once. Applying for multiple credit cards at the same time will lead to many simultaneous hard credit inquiries, which can negatively impact your credit score. It can also affect the length of your credit history, which is calculated by taking the average age of all your credit accounts and can also impact your credit score. All these factors could make you look less reliable to a potential lender, so it is best to open up new credit cards sparingly to signal healthy credit behavior.
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No More Than Five Credit Cards Per Member
In theory, you can have every American Express card at least once per lifetime. In reality, thats not the case. The issuer allows having no more than five American Express credit cards at one time.
Personal and business cards count toward the limit. If youre up to the five-card limit and want another Amex card, you might have to reevaluate your wallet and cancel a card to make room for another.
This rule doesnt apply to American Express cards without preset spending limits, such as the American Express® Gold Card and The Platinum Card® from American Express. You can hold an unlimited number of these types of Amex cards.
Remember that the number of cards youre approved for can be lower in your caseapprovals are at the banks discretion.
Membership Rewards® Points
after you spend $4,000 on eligible purchases with your new Card within the first 6 months. Terms apply.
Annual Fee:$250Terms Apply. | Rates & Fees.
after you spend $6,000 on purchases in your first 6 months of Card Membership.
Annual Fee:$695Terms Apply. | Rates & Fees.
Re: How Often Should You Apply For American Express Cards
I’d probably try to figure out how much benefit would accrue from further increasing my AAoA, and balance that against the cost of a new tradeline.
Ok so my question is : How often should you or would you apply to American Express for cards?
I know you can technically apply for them all at once but of course American Express would probably flag you or as what happened to me before, it would get frozen and you would have to call about duplicate applications .
Of course I would only do this for increasing my AAoA but I know AmEx is a smart company and they check a lot of things so I could get flagged.
Lets say you were me and in the business for increasing your AAoA through AmEx. You have 3 cards with them, and 2 within the past month, all credit cards. When would you apply for your next AmEx?
Should I let AmEx cool down?
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Use All Of Your Credits Before They Expire
Some of the most generous perks that American Express offers its customers come in the form of credits, like the . Theyre a great way to help offset annual fees.
For example, with the Amex Platinum card, youll get annual credits in the form of:
- Up to $200 for airline incidental fees on your selected airline
- Up to $200 in annual U.S. Uber credits
- Up to $100 in Saks Fifth Avenue credits
- $85 TSA PreCheck or $100 Global Entry Credit
Thats an easy way to offset the $550 annual fee
Why Its Smart To Keep Your Old Accounts Open And Active
While new cards may have new features and rewards, theres also reason to keep using the cards you already have. Having two credit card accounts in good standing that are more than ten years old is great for your credit. One factor used to calculate your credit score is credit age. This measures the average age of your accounts. Older accounts are good for this factor.
So, if you plan on getting a new card, it does not mean you should close these existing accounts. In fact, keeping them open and in good standing will help you maintain a good credit score. By contrast, just closing those accounts would decrease your score.
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When To Avoid The Amex Platinum Card
While the American Express Platinum credit card can be a valuable tool for travelers and shoppers, it is not the ideal card for everyone. There are circumstances where it may make sense to opt for a credit card from another company that offers a better value in your circumstances.
Low credit quality
Regardless of whether you use your international credit history or your U.S. credit history, you will need an excellent credit rating in order to qualify to for the American Express card. If you’re unsure about your rating, it’s best to check it with your credit bureaus. For eligible countries, you can translate your international credit score into a U.S. equivalent credit score using Nova Credit. You’ll be able to see whether your translated score results in a recommendation to apply for the American Express Platinum card. To see whether your country is eligible, you can visit our homepage.
Individuals who use travel agencies or websites
Do you often book airline tickets through the airlines themselves? Whether it is by visiting their website or calling, direct airline ticket purchases receive the greatest perks from the Amex Platinum card. The 5X membership points offer applies in those circumstances, not when booking through a travel agency or third-party website.
People who buy discount airline tickets
Individuals who donât use Uber or Equinox
More from Nova Credit:
American Express Doesnt Offer Any True Charge Cards To Consumers Anymore But If Youre Looking For Flexibility You Can Still Avoid Preset Spending Limits With Several Amex Cards
The American Express® Gold Card, American Express® Green Card and Platinum Card® from American Express all used to be described as charge cards. This meant that while the cards looked and acted like traditional credit cards in terms of making purchases and earning rewards, they typically needed to be paid off in full each billing period you couldnt carry a balance.
Amex has made some changes to its charge cards, though. Now these cards come with options to pay for purchases over a longer time period. The Pay It Plan It® and Pay Over Time features enable you to finance qualifying charges and pay them back over time, for a fee or with interest.
If you tend to spend a lot and usually dont carry debt on your credit cards, these cards can still provide convenience and flexibility. Unlike traditional credit cards, they dont come with hard and fast that youll know upfront instead, the amount you can spend adjusts based on factors such as the purchase and your payment and credit history. Note that this doesnt mean youll have no limit at all.
Heres what you need to know about the best American Express cards with no preset spending limit.
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How Often Should You Get A New Credit Card
The right number of credit cards might be different for everyone. And it all depends on your unique circumstances. But there is some general guidance to consider.
First, keep in mind that credit card issuers might have their own limits on how often you can apply for new credit.
The Consumer Financial Protection Bureau recommends only applying for the credit you need. Applying for credit can result in a hard inquiry. And FICOÂ® says that a hard inquiry might cause your to dropâusually by a few points. Thatâs because credit-scoring models generally look at how recentlyâand how oftenâyouâve applied for credit, according to the CFPB.
So before you apply for a new credit card, itâs a good idea to pause and think everything through. If you can, talking to a qualified financial professional might be a good idea, too.
How Many Times Can You Get Approved
The AmEx 2-90 rule states that cardholders can only have two card approvals every 90 days. This rule is applied on top of the 1 in 5 rule. So, if you get approved for two credit cards in 90 days, you can no longer be approved for a third one. If you want an additional card, you will have to apply once the 90-day period ends.
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Five Credit Card Limit
Amex currently has a five card limit. With the five credit card limit, you can hold at most five Amex credit cards. This excludes charge cards. Amex recently decreased the limit from five to four credit cards but has since reportedly reversed course and increased the limit back to five. Itâs likely Amex will cap the number of charge cards you can have at 10.
Once In A Lifetime Signup Bonus
If you’ve ever had a certain Amex product past or present, regardless of if you received a signup bonus, you will not be eligible for the signup bonus again. The sole act of having X card means you will not be eligible for the signup bonus.
For example, if you had the Amex Everday card in the past and canceled it , you would not be eligible to receive another Amex Everyday signup bonus if you applied for it again in the future.
Another example would be if you opened the Hilton Honors American Express SurpassÂ® Card and downgraded it to the no annual fee Hilton Honors American Express Card. By downgrading it, you lose out on the 80k to 130k Hilton Honors bonus that’s pretty normal for the Hilton — easily 1 night in most of their expensive properties like Bora Bora, Maldives, or Koh Samui
Technically, we have seen some offers that don’t have this once in a lifetime language, but it’s not common. I would argue that this is the biggest core strategy to work around — especially for new people thinking about upgrades/downgrades.
However, cards like the Amex Platinum card have different variations, which are all considered different products. You could receive the signup bonus for each variation of the Amex Platinum card.
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Exceptions To The Rule
Where there are rules, there are exceptions. Even though American Express has this once-per-lifetime restriction, people have been targeted for bonuses that exclude this language. If you receive a targeted offer for an Amex card youve had before, check the terms and conditions for the following language:
Welcome offer not available to applicants who have or have had this Card or previous versions of the card. We may also consider the number of American Express Cards you have opened and closed as well as other factors in making a decision on your welcome offer eligibility.
There are even reports of existing cardholders being targeted for second and third bonuses on the Amex Platinum card. Again, check the terms of the offer for this exclusionary language.
How Often Should You Apply For A New Credit Card
While the number of credit cards you should have is up to you and you can apply for new lines of credit as often as you want, its a good idea to wait at least 90 days between new credit card applicationsand its even better if you can wait a full six months.
Waiting between credit card applications helps protect your credit score from the negative effects of too many credit inquiries, and it also helps ensure that you dont run afoul of credit card application restrictions.
Capital One, for example, is known for limiting applicants to one new credit card every six months, so if you apply for a new Capital One card before the six-month restriction is up, your application will likely be rejected.
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American Express Application Rules Ultimate Guide
Offers contained within this article maybe expired.
There are a lot of credit card application rules for American Express cards and they require you to keep tabs on a lot of different things at once and to be familiar with the policies that differ between charge cards and credit cards. In this article, I will give you a comprehensive look at all of the American Express Application rules.
Not Sure Any Of These Cards Are For You Consider These Alternatives
- The Business Platinum Card® from American Express: If you loved the sound of the Platinum Card® from American Express but want the business card version, then this card could be for you.
- Blue Cash Everyday® Card from American Express: If you want to earn cash back at U.S. supermarkets without paying an annual fee, this card could be a good fit for you.
- Chase Sapphire Preferred® Card: This card is hard to beat if you want a travel rewards card with flexible redemption options.
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% Airline Redemption Bonus
Every point you redeem on AmexTravel for award flights is effectively worth 1.35 cents each. Every point is worth 1 cent each when booking the flight. You then get 35% of those points back for a second redemption, up to 500,000 points per year.
This bonus applies to any flight on the airline of your choice plus any business or first-class flight regardless of the airline.
American Express Bonus And Application Rules
In This Article
10xTravel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
In This Article
American Express is no stranger to credit card rewards, and, as a diverse award traveler, you dont want to be a stranger to Amex, either. Before you switch all your attention from Chase to American Express, you should understand the card issuers bonus and application rules. Knowledge is power, and it can save you from applying for a card only to earn zero rewards in return.
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Take Advantage Of Business Cards
Although business cards add to your total count of American Express cards, they dont show up on your personal credit report. This is useful when youre trying to stay under the 5/24 count to qualify for Chase cards but want to keep earning valuable welcome offers from other banks, such as Amex.
If youre eligible, spacing out Chase applications by mixing in one or two Amex small-business cards can help you maximize your earning capabilities without being too aggressive with one particular bank and risking a shutdown.
Finding New Cards With Specific Purposes
Now, that being said, the rewards credit card may be a different matter. New rewards credit cards and reward feature sets have been created in the past ten years and you usually cant apply new rewards packages to a different rewards credit card.
So, in this case, if youre using the card just to generate rewards strategically, then you may want to explore the new cards available to see if theres something better than what you have.
- Take your time, research your options
- Only apply for a new credit card if it has everything that you want and things you cant get with your existing cards
- Look for rewards that will fit a specific purpose in your life or budget, such as a card that offers cash back on groceries.
- If you shop at a specific retailer or merchant, look at what cards they offer. For example, if you are brand-loyal to one gas station, check out the rewards they offer on their gas card.
- Also, keep in mind that many rewards cards charge an annual fee. Be sure you will make up for that fee with the benefits you receive from using the card.
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