No, you cannot get an American Express (Amex) Platinum card with no income. This type of card is a premium, rewards-based credit card and American Express requires applicants to have a minimum annual income to qualify.
It is also a charge card, meaning it must be paid off in full each month. Without sufficient income, Amercian Express may not approve your application.
How much income required for Amex Platinum?
The American Express Platinum Card requires that applicants have a minimum annual income of $200,000, or $50,000 each year for the last two years. This applies both to solo applicants, and to joint applicants with a partner or family member.
Income criteria for American Express Platinum cards vary somewhat from region to region. In addition to the minimum income requirements, applicants may also need to provide proof of income such as pay stubs, tax documents, and other financial records.
Additionally, American Express may require that an applicant can comfortably handle the minimum required payment to pay off the card’s balance within three months.
Income requirements in other countries may differ. American Express may ask for additional information or provide additional flexibility in such countries, such as the ability to substitute investment income with salary income.
Be sure to contact your local American Express branch to inquire about income requirements for the Platinum card in your area.
What salary do I need for Amex Platinum?
The exact salary you need for an American Express (Amex) Platinum card will depend on the credit limit you are approved for and whether or not you are offered a promotional bonus. Generally speaking, the minimum salary needed for an Amex Platinum card ranges from $60,000 to $90,000.
However, Amex does offer cards with lower limits of $25,000 or less. There are also certain requirements that need to be met for applicants, such as having a demonstrated ability to manage their finances responsibly, having a good credit history, and maintaining a consistently high credit score.
Additionally, some Amex Platinum cards offer promotional bonuses for eligible applicants, which may require higher salaries for approval. In some cases, applicants may qualify for a larger line of credit with a lower salary if they have a longer and/or more established credit history.
Ultimately, the best way to determine the salary requirement for an Amex Platinum card is to speak directly with Amex.
Does Amex Platinum require proof of income?
No, American Express Platinum does not require proof of income. The Amex Platinum card is a charge card, meaning that you are expected to pay off your balance in full each month. As such, they do not look at your income when you apply.
However, they may ask you to provide proof of financial assets, such as bank statements, in order to establish creditworthiness. Additionally, Amex may review your credit report to assess your creditworthiness.
Your credit score will be a major factor in whether you are approved for the card, so it’s important to make sure that you have a good credit score before you apply.
Who qualifies for an Amex Platinum?
The American Express Platinum Card is designed for those who are looking for a premium travel and lifestyle experience. To qualify for this card, applicants must be 18 years or older and have an annual gross income of $50,000 or more (not including any joint applicant income).
In addition, applicants must have a good to excellent credit history and have not had any bankruptcy or consumer proposal filings in the last 7 years. Candidates must also have the capacity to make at least the minimum payment each month and be a Canadian citizen or have permanent resident status or landed immigrant status.
What is the minimum income for Amex card?
All applicants must meet a set of criteria set by American Express, such as having a good credit rating, being 18 or over and having a permanent UK residential address.
When you apply for an American Express card, the issuer will take into account your current financial standing, such as how much you earn and your debts. If you meet their criteria, you may receive a personalised credit limit – both the upper and lower limit – depending on your individual circumstances.
An important thing to remember is that while American Express may not have a minimum income requirement, they will still assess your financial circumstances in order to determine if you are an appropriate customer.
You may be offered a product with a lower credit limit than you had expected, or the application may be declined.
Should I tell Amex my income?
Whether or not you should tell American Express your income depends on what type of card you have applied for. If you have applied for a rewards-based Amex card with an annual fee, such as the Platinum or Gold Card, Amex will typically want to know your income in order to approve your application.
This is because the higher the annual fee, the more income they expect you to have. On the other hand, if you have applied for a card with no annual fee, such as the Amex EveryDay or Blue Cash Preferred cards, you may not need to provide your income.
In this case, Amex will generally approve your application based on your credit history and credit score. Ultimately, it will depend on the specific product you have applied for.
What is the hardest Amex to get?
The hardest Amex to get is the American Express Centurion Card. It is an exclusive charge card that is by invitation only and requires an incredibly high credit score and a large amount of spending on American Express products.
It was created to provide an impeccable experience for the most discerning cardmembers, as it comes with a wide array of luxury benefits and a personal concierge service. To be considered for the Centurion Card, you would need to prove that you have an exceptionally large net worth and a high earning potential.
Requirements may also include demonstrating a consistent history with American Express and a responsible usage of credit cards within the last five years. The application process is considered to be much more rigorous than any other Amex card, and the annual fee is in the thousands.
Is Amex Platinum for millionaires?
No, Amex Platinum is not exclusively for millionaires. The American Express Platinum Card is a luxury rewards card that is open to all qualified applicants. As of January 2021, the minimum annual income requirement for the Amex Platinum card is Rs.
5,00,000. That said, cardholders do not need to be millionaires to qualify for the card, and there are various factors that can influence approval. Additionally, the Amex Platinum card offers a range of valuable benefits that make it ideal for those who value luxury travel and experiences.
Cardholders can enjoy exclusive access to airport lounges, up to 20% savings on flights booked through the Amex portal, and access to exclusive experiences and live events. This makes it an attractive option for luxury travellers, regardless of their income level.
Is Amex platinum a luxury card?
Yes, the American Express Platinum card is considered a luxury card, due to the high status, premium rewards, and travel benefits associated with it. The card features a range of benefits and perks that make it an appealing choice for those looking for elite travel and lifestyle experiences.
These include comprehensive travel insurance, complimentary hotel upgrades, access to premium airport lounges, reward points, access to pre-sale tickets for concerts and special events, and access to various discounts and offers.
The high annual fee of the Platinum card reflects its luxurious status and ensures cardmembers receive exclusive benefits that are normally reserved for high net-worth individuals. It can be a great choice for luxury travellers who are looking for access to exclusive experiences and rewards.
What card do billionaires use?
Billionaires can use a variety of cards, depending on the kind of spending they prefer and the type of rewards they are looking for. Some of the most popular cards for high-net-worth individuals are credit cards from American Express, JPMorgan Chase, and Citi, as these have the highest rewards on spending.
American Express offers its Centurion, Gold, and Platinum cards, designed for exclusive benefits and experiences. Centurion cardholders get access to its Centurion Lounges, discounts from select merchants, and a host of other exclusive benefits.
It also provides travel protection, as well as ticket upgrade and cash back rewards.
JPMorgan Chase offers its Chase Sapphire Reserve card and the Paloma Preferred card. Both offer great cash-back rewards and travel-related perks, such as statement credits, discounted airport lounge access, and priority boarding.
Citi offers the Citi Prestige and Citi ThankYou Premier cards. The Citi Prestige offers a wide range of rewards, including a generous sign-up bonus, points for travel, and discounts on selected merchants.
The ThankYou Premier card also offers cash back rewards, points for travel, and access to airport lounges.
Overall, there are numerous card options for high net worth individuals, depending on their spending needs and preferences. For those looking for a simple yet rewarding way to manage spending, American Express, JPMorgan Chase, and Citi offer excellent choices.
Is Amex Platinum 100k worth it?
Whether or not the American Express Platinum Card 100k bonus is worth it depends on how you intend to use the bonus. The bonus offers a total of 100,000 Membership Rewards points after you spend $5,000 on purchases within the first three months of opening your account.
Those points can be used in many ways including flights, hotel stays, gift cards, merchandise, and more.
The card also offers many other benefits, including a $550 annual fee, access to hundreds of airport lounges, a $200 airline fee credit, $200 in Uber credit, a $100 Saks Fifth Avenue credit, a Global Entry or TSA PreCheck fee credit, and more.
For those who frequently travel and/or use the many benefits that come with the card, it could be worth the annual fee and bonus. On the other hand, if you rarely take advantage of the bonus points and lounge access, the $550 annual fee could easily outweigh any potential benefits.
What is American Express card for rich people?
An American Express card is a payment card that is issued exclusively by American Express, which is a global financial services company. The American Express card is available in different levels, such as the American Express Platinum and the American Express Centurion.
The cards are typically aimed at affluent individuals who can afford the premium benefits, perks, and features of the cards. Some of the features that are available include travel rewards, luxury hotel stays, fine dining and shopping experiences, exclusive access to events, and a variety of different ways to earn rewards or points with every purchase.
American Express also provides additional services like purchase protection and fraud protection, which can provide peace of mind for cardholders. Premium cards like the Platinum and Centurion can require customers to pay an annual fee, but often offer added benefits like access to exclusive lounges or concierge services.
Is American Express Platinum Elite?
No, American Express Platinum is not an Elite status. American Express Platinum is a travel rewards card offering various benefits, including travel and dining rewards, access to airport lounges, and complimentary insurance coverage.
With this card, you earn points for every dollar spent, which can be redeemed for travel and other rewards. However, American Express does have higher levels of Elite status, such as American Express Centurion and American Express Platinum Reserve, which are invitation-only cards with exclusive benefits.
Do you have to prove income for Amex?
Yes, when applying for an American Express (Amex) credit card, applicants are usually required to provide proof of income. This proof may include pay stubs, W2s, tax returns and/or a letter of employment.
Proving income may be necessary regardless of whether you’re applying for a secured or unsecured Amex credit card.
In addition to income documentation, applicants typically need to provide other documentation, including Social Security Number or Tax Identification Number, personal information such as name, address, and phone number, and information about any existing financial accounts, such as banking or investments.
As with other credit cards, applying for an Amex card requires a credit check, which will impact your credit score. Before applying, it’s best to check your credit score and report to ensure there are no discrepancies that could prevent you from being approved for an account.
In conclusion, when applying for an Amex credit card, you may need to provide documentation proving your income, as well as documentation of other personal information and existing financial accounts.
It’s also a good idea to check your credit score and report prior to submitting your application.