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Hello,
I’ve read you need a salary of 35k to get a BAPP.
Does anyone know if already having a credit history and Platinum AMEX will mean they may accept an application from an applicant with a 32k salary?
Thanks!
Sorry if I sound presumptuous but wouldn’t the person on a 32K salary struggle to generate the spend required to make the BAPP cost effective? Putting aside eligibility and acceptance.
I think the 35k is very strictly applied but if you don’t mind the credit search then have a go and report back.
Amex has decided to set the limit at £35k because that’s the very lowest they think they can get away with and not be seen to be pushing expensive cards with high spends required to trigger the benefits at those on median incomes. As the Plat now also has a £35k minimum, it wouldn’t seem a good idea to poke Amex on this by seeking leniency.
Sorry if I sound presumptuous but wouldn’t the person on a 32K salary struggle to generate the spend required to make the BAPP cost effective? Putting aside eligibility and acceptance.
Not when part of a household.
Sounds like the best option is to not poke the bear.
I’d like to hijack this thread on a related topic.
If you reduce the salary due to increasing your salary sacrifice for pensions, would that be a concern when you apply for a card?
Wondering if Amex is getting the data on actual take-home credited to bank accounts?
I’d like to hijack this thread on a related topic.
If you reduce the salary due to increasing your salary sacrifice for pensions, would that be a concern when you apply for a card?
Wondering if Amex is getting the data on actual take-home credited to bank accounts?
Surely your salary isn’t reducing, it’s merely the disbursements on the payslip that are increasing?
It’s always headline salary that finance companies are interested in. Your own bank has the income data, that’s why you get the “Payday!” with the potential subfield “It’s more than normal” or “it’s less than normal” notification through on your banking app. Some Credit Agencies like Clearscore do the voluntary OpenBanking thing for actual transactional data.
So any brave people out there that applied with a salary less than £35k? And what was the outcome?
When it says “earn at least £35k per year.” Can one assume this means your total income, not just salary and therefore include interest earned, dividends and rental income etc?
I earn more than this as a part-time worker, with a household income of 6 figures, yet I got refused. They wouldn’t tell me why…
There are several threads on here discussing this issue and how you might persuade Amex to change their minds!
@Doodledoo – the £35k is just the first hurdle to overcome before they make any credit determination. Household income, something a bit particular to Amex, is now treated more warily as economic conditions tighten and their charge off rate has increased. Amex won’t give you reasons for rejection, but most commonly it relates to the amount of any unsecured credit with them and elsewhere or they are unable to verify information you have provided.
When it says “earn at least £35k per year.” Can one assume this means your total income, not just salary and therefore include interest earned, dividends and rental income etc?
Although it does state that under ‘About this card’ when you start the application process it says ‘Enter your Annual Personal Income before tax.’, with this then broken down into ‘Salary’ ‘Pension’, ‘Investment’,etc.
‘Earn’ is in a bit of a grey area anyway. Most people probably would initially thinking about employment earnings, but we also talk about “earning” interest on savings. And pensioners likely feel that they’ve earned the right to live off their pensions, savings, investments!
Out of curiosity, if you got a builder friend that can write up some payslips for a ‘job’ you did for him. Does AMEX accept those? I have the cards and satisfy their criterias but just curious.
Out of curiosity, if you got a builder friend that can write up some payslips for a ‘job’ you did for him. Does AMEX accept those? I have the cards and satisfy their criterias but just curious.
Perhaps if you pay the “tax” on that “income” and send this to Amex…
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