How to use Amex's expanded credit score tool to increase your credit score
Your credit score is an important part of your overall financial health. The higher your credit score, the better your approval odds are for mortgages, car loans, small-business loans, the best credit cards and more. Not only that, but your interest rates across all of these lines of credit are likely to be much more favorable when you have a high credit score.
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All major credit card issuers do provide a free credit score tool for cardholders where you can check your score. But there are a number of factors that go into your credit score, and it can be tough to know where you should focus your efforts when trying to improve your credit score. Well, American Express has officially entered the chat.
American Express has a free credit score tool (even for non-cardholders) called MyCredit Guide, which gives you access to your Vantage 3.0 score. Now, Amex has added a new capability called "Score Goals." Users can set a goal credit score and receive tailored recommendations on areas to focus on in order to hit that goal in a set recommended period of time.
This is the screen you'll now see when you log on:
Hit "Get Started," to set your credit score goals. I set mine to 800.
When I put in my goal of 800, Amex automatically suggested a goal time frame of 24 months. From there, you'll get a set of recommendations of specific factors to look at.
You can then click into these factors to see how you are measuring up to the recommended standards to help increase your credit score.
When is the Score Goals tool worth it?
I'll be honest: If you already have a high credit score, there probably isn't much you're going to get out of this tool. Even my goal of hitting 800 will really just be dependent upon me keeping up my current responsible credit habits until I have a longer history. I've only had credit cards since college — about five or six years total. I recognize that my payment history and length of accounts will be key for me to hit that 800 score goal.
However, if you are just getting started on your credit journey, or if you are looking for ways to take your score from "average" to "good" or "excellent," this tool could help you figure out the factors you'll need to pay the most attention to over time while giving you a snapshot of how your current credit report stats measure up.
The best part is that this tool is available to non-cardholders as well. If you already have four Amex credit cards and a 770+ credit score, you probably don't need a ton of guidance to increase your score over time. But there are plenty of beginners who are trying to build credit for the first time, as well as people looking to repair their credit after financial hardships. In those cases, an Amex credit card may not be an option for them right now.
This tool is free to anyone who signs up with an account — no Amex card needed. And it can help guide you with general credit best practices so that you can make a plan to increase your score so that you can potentially apply for a credit card later on (or get a better rate on a car loan or hit some other financial goal).
Related reading: How to build credit without a credit card
Bottom line
This is a free tool that anyone can take advantage of. While those with 770+ credit scores may not find a ton of useful data in this tool, it could potentially be quite valuable to beginners and those trying to raise their credit score. If nothing else, it can give you more insights into the factors that are impacting your credit score.
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| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.