I have been given a heads up that as of tomorrow, American Express will be making significant changes to their credit cards products. More information will become public tomorrow but the highlights are as follows:
- AMEX’s bankruptcy rules have become a lot more lenient. Previously you would not qualify for a card if you had a bankruptcy on your record anytime in the past 7 years. This has been updated to the past 2 years. This would be a welcome relief to those that had financial troubles but are now on the straight and narrow.
- AMEX will no longer have a minimum income requirement. I’m not sure how they will determine eligibility for their products but it might be strictly credit score now.
As I said, I only have a little information and more will be forthcoming tomorrow but I wanted to give my readers a heads up!