Credit cards are a payment instrument and it is a payment card where the amount that the user is spending is going to be charged to a balance that should be paid every month. Compared to other cards where the amount is discounted from the available balance in the account.
So, basically it is an instant way to borrow money from a financial institution. There are different financial institutions that are able to provide credit cards and they compete offering the best combination of rate, rewards and other characteristics to attract a specific public. In this article we are going to talk about American Express Credit Cards and how to apply for it online
What is American Express Credit Card?
It is one of the biggest corporations that provide credit card services and it was founded in 1850. The total volume of credit card transactions of American Express represents 22.9% of the total in the US. They offer different types of services and products like cards (debit, credit and prepaid) and they have a system called ExpressPay that allows the user to pay with contactless system; they will just have to hold the card near to the receiver and the transaction will be done.
They also have alliances with different companies to offer products for their customers like rewards for a certain amount of miles with an airline and so. But they also offer other products that are not related to cards like financial advising, individual banking with saving accounts and travel assistance focused in corporate business customers. But we are going to focus on the credit cards services that American Express offer and how to apply online to get one.
Applying for American Express Credit Card Online
American Express looks for reliable borrowers and they are not willing to take much risk. Their customers will get rewards just by using the card because they will be collecting points to win it. So, people may be looking for an American Express Credit Card to get the rewards and benefits of the card. Now, let`s see what people need to apply for it. There are three things:
- Personal information: including your name, current address, previous address (maybe), phone number, social security number (can be different if the user is not an US citizen).
- Email address so the company will be able to contact you and send you important information
- Financial information: This may include the annual income, what does the person do, the position that the person has, contact information of the employer and information about other income sources (if the person have)
Once that information is ready the person will be able to apply for the credit card. Customers are able to do the application online using the American Express platform. But, that may be a concern because of the security of the information. There is nothing to worry about because American Express use a secure platform to prevent that people can have access to your information.
When the user have decided what credit cards he wants, he will be able to apply after he read the terms and conditions of the credit card on the website. Each credit card has different conditions so the user may be able to have one type of card and maybe not the others.
Once the user has read that he can apply for the credit card. The platform will make the process easy and it may take just 10 minutes or less. American Express will provide an answer 60 seconds later.
That answer will let you know if you are able to have the credit card or not. The platform will take your information and make a credit assessment which is basically a test to determine if you are eligible or not based on how capable are you to pay your debts, your responsibility in financial matters, how prone are you to default and know your credit history which is your previous experience with debts. Now, let`s see what to have in mind before making the application
What to consider before applying for American Express Credit Card Online
Before applying for American Express Credit Card make sure that all the documentation should be correct. Look for errors in the credit history, personal information and contact information because that may impact the decision of the company. They will be looking for people with good credit history that are able to pay debts on time. But there are other things to consider
Look for the right credit card; there are different types of it and not only because of the rate that is going to impact the interests that is user is going to pay. But they also offer different types of rewards depending on the type of user that they are willing to attend. So, if a frequent traveler is looking for an American Express Credit Card, he must look for one with rewards in airlines.
Make sure that you are ready to use the credit card correctly; you should be careful with the expenses because you may not be able to pay the balance. So, it is recommended to calculate how much can you pay monthly.
In summary, you are able to apply for an American Express Credit Card online and the process is quite simple. You just need to collect all the information that is required by the platform and apply for the right credit card for you. Take your time to know what card is the right one for you, so you will be able to enjoy it. There are different types of cards offered by American Express and you may also look at the competition because other companies offer great credit cards that may fit in your needs. If you want you want to know more about credit cards you can find more information in websites.