Who Qualifies for the World Elite Mastercard?

The World Elite Mastercard is one of the most exclusive and prestigious credit cards available But with great rewards and benefits comes great responsibility – namely having the financial means to qualify So who exactly gets to carry this black card beauty? Let’s break down the requirements,

Income Requirements

First and foremost, you need solid income to qualify for a World Elite Mastercard Exact amounts vary by issuer, but you can expect requirements in the neighborhood of

• Personal income: $150,000+
• Household income: $250,000+

Some issuers may set limits based on your income alone, while others look at total household earnings. Either way, the World Elite card is reserved for the well-to-do.

Meeting the income threshold is typically the biggest hurdle for approval But making big bucks isn’t the only box you need to check

Credit Score Requirements

A stellar credit score is also a must for the World Elite Mastercard. You’ll likely need a FICO score of 700+ to qualify. Some issuers may require an even higher score of 750+ or above.

A high credit score proves to the issuer that you can responsibly manage credit and make payments on time. That reduces their risk in extending you a high credit line and premium rewards.

Other Requirements

Income and credit score form the core of World Elite approval requirements. But issuers may consider other factors too, like:

• Your existing relationship with the bank
• Length of credit history
• Mix of credit types
• Low utilization rates on credit cards
• Lack of negative marks on your credit report

Candidates who check all the boxes are most likely to get approved. Having a big salary and great credit is a good start, but optimal profiles also show responsible credit management over time.

Some World Elite cards are charge cards that require paying balances in full each month. Issuers may look for spotless payment histories on any current credit cards.

Businesses and Corporate Cards

World Elite Mastercards aren’t just for individual consumers. Small business owners and major corporations can also qualify for World Elite corporate cards.

Approval is based on the company’s finances rather than your personal income and credit. Expect issuers to look at factors like:

• Time in business
• Annual revenue
• Financial statements
• Industry and projected growth
• Existing relationship with bank

Corporate cards may have higher spending limits than consumer cards. Employees who receive a World Elite corporate card don’t need to qualify based on their own income or credit.

Top Issuers and Their Requirements

Now that you know the general requirements, let’s look at specifics from major World Elite issuers. Here are income and credit score needs from three top picks:

Chase World Elite Mastercard

• Annual income: $150,000 (personal)
• Credit score: 700+

Chase doesn’t publicly disclose their exact qualifications. But based on applicant reports, a 740+ FICO score seems to be preferred.

Citi Prestige® World Elite Mastercard

• Annual income: $100,000 (personal)
• Credit score: 750+

Citi provides eligibility details upfront. They have a lower income requirement than Chase but want a higher credit score.

Bank of America Premium World Elite Mastercard

• Annual income: $150,000+ (personal)
• Credit score: Varies

Bank of America determines your APR and credit limit based on income, assets, and credit factors. So exact credit score requirements are flexible.

How to Improve Your Chances

If your income or credit score falls a bit short right now, you can take steps to boost your eligibility.

• Request a credit line increase on current cards to lower your utilization ratio.
• Pay down balances to reduce revolving credit card debt.
• Check reports for errors that may be impacting your credit score.
• Become an authorized user on a partner or family member’s account to build credit history.
• Open a secured card if you need to establish credit from scratch.

With time and diligent credit management, you can position yourself to qualify down the road.

Is the World Elite Card Worth It?

The World Elite Mastercard isn’t for everyone. You need to assess whether perks like airport lounge access, travel credits, and other benefits outweigh the hefty annual fee. Lower-tier travel rewards cards still offer solid earnings and bonuses without as many barriers to approval.

But frequent travelers who can leverage all the World Elite perks may find the card well worth holding long-term. Just be sure your spending habits align with rewards categories before you apply.

The Bottom Line

The World Elite Mastercard offers luxury benefits and first-class treatment. But that VIP experience comes at a price – namely the high income and excellent credit required for approval. Meeting published requirements is a good baseline. Yet optimal approval odds come from having an established high-income career, perfect credit history, and current relationship with the issuing bank.