To qualify for a Platinum American Express card, you need to meet the following criteria:
• Have a good or excellent credit score – your credit score should generally be 700 or higher to get approved.
• Have an income of at least $50,000 – you can be approved with a lower amount but it’s best to have an income of at least $50,000.
• Be 18 years or older – you must be at least 18 years old to be approved for a Platinum American Express card.
• Be a legal resident of the U.S. – you need to be a legal U.S. resident to be approved for a Platinum American Express card.
• Must not have excessive requests for new credit lines – excessive requests for new credit lines will lower the chances of approval.
In addition to these basic criteria, Platinum American Express cards often have higher annual fees than other types of cards. This makes them ideal for high income earners who don’t mind spending a little extra to get the added benefits and perks of a Platinum Amex card.
The higher annual fee may be worth it if you are willing to pay for things like airport lounge access, concierge services, travel credits, and more.
Is it hard to qualify for Amex Platinum?
No, it isn’t necessarily hard to qualify for the Amex Platinum. Depending on which rewards program you’re looking at, Amex Platinum may require a certain amount of spending to qualify each year. For example, the Amex Platinum Card requires a minimum of $5,000 or more in eligible purchases each calendar year in order to qualify for the rewards program.
You must also have good to excellent credit, though you can check your credit score for free with some programs. Aside from that, meeting the spending threshold is the only real requirement to qualify for the rewards program.
Once you qualify, you’ll be able to enjoy the many benefits that come with the Amex Platinum Card, such as access to special events, discounts, and even complimentary airfare or hotel stays.
What income is required for Amex Platinum?
The required income for an American Express Platinum card depends on which specific card you are applying for. Specifically, the American Express Platinum card generally requires a personal income of at least $50,000, but may require more depending on financial circumstances and credit score.
Generally speaking, American Express looks for applicants with a good credit history, such as on-time payments, low credit utilization, no collection accounts or negative public records, and some combination of a steady, high income and sizable net worth.
Furthermore, if you are applying for the American Express Platinum card, it’s important to note that the issuer will evaluate additional factors beyond your income, such as your total and recent spending, to determine your creditworthiness.
What credit score do I need to get an Amex Platinum?
The exact credit score you need to get an Amex Platinum will depend on a variety of factors, such as your income and existing credit record. Generally, Amex requires a minimum credit score of 660, though slightly higher scores may improve your chances of approval.
Anything below 600 could have a hard time getting approved.
Additionally, Amex evaluates your ability to responsibly handle credit, so having a low credit utilization (only using a limited percentage of your total credit limit) and a few years of responsible credit/debit payment history can also increase your chances of being approved for an Amex Platinum.
Furthermore, other factors Amex will take into consideration are your income and other debts you might have. Those with higher incomes and fewer obligations will often be seen as more attractive candidates for credit cards offered by Amex.
Ultimately, the best way to determine your chances of getting an Amex Platinum is to prepare your financials and apply for the card. A good credit score, low credit utilization, and stable income are all key points to obtaining an Amex Platinum, but the only real answer to what score you need will be dependent upon Amex’s evaluation of you.
Is an Amex Platinum impressive?
Overall, the Amex Platinum Card is a very impressive product. It offers a range of benefits that appeal to both business owners and individuals, making it a great choice for anyone. The card offers a generous rewards program that gives you points for every dollar spent, which can be redeemed for travel, merchandise, and more.
Additionally, cardholders can take advantage of a wide range of airport lounge access, complimentary hotel nights, dining credits, and so much more. Plus, cardholders can also enjoy the impressive customer service from Amex’s team.
Taken all these factors into account, the Amex Platinum card is certainly an impressive product that many individuals would benefit from owning.
Is Amex Platinum for millionaires?
No, the Amex Platinum card is not exclusively for millionaires. You don’t have to have millions of dollars to become an American Express Platinum cardholder. Depending on your credit score and spending habits, you may qualify for this card even if you are not a millionaire.
The card is available to anyone who meets the bank’s credit criteria and can afford the annual fee. Such as valuable rewards programs, travel benefits, concierge services, and more.
What are the hardest Amex cards to get?
Getting an American Express card is not easy, as the credit card issuer is known for having some of the toughest credit requirements in the business. That said, some of the Amex cards are considered to be even more difficult to obtain than others – usually because they offer more generous rewards and more luxurious benefits, so Amex is more selective when it comes to approving applicants.
Some of the hardest Amex cards to get include the Centurion Card, often referred to as the ‘Black Card. ’ This invitation-only American Express Card is only available to select high-income and high-net-worth individuals.
To qualify, you must have excellent credit, an extremely high income and significant assets.
The American Express Platinum Card is also considered one of the more difficult cards to receive. With excellent credit and high annual income, you might have a chance at being approved for the Platinum Card, which has a hefty $550 annual fee.
Other difficult-to-qualify-for cards include the American Express Cobalt Card and the small business-focused Amex Business Platinum Card.
In general, you’ll need excellent credit, a high annual income and significant assets to be approved for any of these cards. But even if you don’t qualify for the most difficult-to-get cards, there are still plenty of other American Express Card options you can apply for, many of which have no annual fee.
Is Amex Platinum better than black?
The Amex Platinum and Amex Black Cards are both high-end rewards credit cards that offer a variety of great benefits to cardholders. Both cards provide generous points rewards and numerous travel and lifestyle perks.
When it comes to deciding which card is ‘better’, the decision ultimately depends on the individual needs and preferences of the cardholder.
The Amex Platinum Card offers higher rewards rates on a variety of categories, from airfare to hotel and restaurant stays. The card also comes with a variety of additional travel benefits, such as access to over 1,000 airport lounges, access to Priority Pass Select lounges, complimentary elite status at select hotels, and up to $200 in Uber Cash annually.
The annual fee for the card is also higher, at $550 per year.
The Amex Black Card comes with more luxe perks than the Platinum card, offering higher rewards rates on select categories such as dining and travel-related purchases. The card also provides automatic access to more airport lounges, higher-end luxury hotel amenities, and personalized travel coverage.
The Amex Black Card also offers a $100 air travel credit each year. The annual fee on this card is much higher though — it’s $495 per year.
In the end, it’s up to the cardholder to decide which card better suits their needs. If the individual frequently travels for both leisure and business and seeks access to exclusive travel perks, then the Amex Platinum might be the better choice.
Those who are more interested in luxe experiences such as exclusive dining and higher rewards rates on select travel purchases should consider the Amex Black Card.
Is the platinum card for rich people?
The Platinum Card from American Express is a high-end rewards card for affluent individuals who want to maximize their rewards and benefit from exclusive offers. It comes with a large annual fee, typically around $500-$550, as well as additional costs for companion cards.
The card also often comes with a high minimum spending requirement and travel privileges including access to exclusive lounges, airline upgrades, and high-end rewards programs. While you don’t have to be rich to get the Platinum Card, it is usually marketed to individuals with deeper pockets or those who travel frequently and want to enjoy the benefits that come with it.
What card do billionaires use?
Billionaires tend to have access to unique cards to fit their lifestyle. While some may opt to use traditional platinum or gold rewards cards, many of the world’s wealthiest will have access to extremely exclusive cards, such as a Centurion Card from American Express, or an International Black Card.
The Centurion Card, also known as the ‘black card’ or ‘black Amex’, is only available to select individuals who spend a minimum of $250,000 per month. The International Black Card is even more elusive, with cardholders requiring an invitation from a current Black Card holder.
These cards offer holders exclusive and comprehensive rewards programs, which range from complimentary access to luxury events and business-class travel, to limited-edition items and exclusive services.
Billionaires may also opt for a card that offers benefits and services catered specifically to them. These include the Coutts World Silk Card, which offers a range of exclusive perks for its cardholders who must have a minimum balance of £1 million in their Coutts bank account.
There’s also the UBS Visa Infinite, which is designed for ‘high net worth individuals’ who must keep a balance of at least $2,000,000 in UBS-managed accounts.
Does Amex Platinum require proof of income?
No, American Express (Amex) does not require proof of income to obtain their Platinum Credit Card. However, that does not mean that your income will not be a factor in the credit card approval process.
Card issuers typically look at potential cardholders’ credit scores and other financial indicators such as income and debt-to-income ratio in order to determine the creditworthiness of an applicant. Amex also typically requires applicants to meet certain criteria such as having a credit score of 670 or better with a financial history free of delinquencies or bankruptcies.
In addition, an applicant must also have enough income to support the existing debt as well as any new debt created with the Platinum Credit Card.
What is the minimum income for Amex card?
American Express does not have a fixed minimum income requirement for applicants, as income requirements can vary based on factors like credit score, state of residency, and credit history. Generally speaking, those who have an established and substantial credit history, good credit scores, and an annual net income of at least $30,000 USD should be eligible.
It is important to note that applicants who are eligible for rewards cards, such as those from Amex, may be subject to additional requirements or even tighter restrictions. This could mean having a higher minimum income requirement than other applicants.
Some credit card issuers also consider other criteria, such as employment history and bank account details, when determining eligibility. Despite all this, American Express usually looks at the total picture of an applicant to determine whether or not they will approve a card.
Will Amex check my income?
American Express does not typically check your income when you apply for a credit card. However, depending on the type of card you are applying for, they may ask for certain income information. This is usually done because American Express wants to make sure that you are able to repay the credit card balance in full and on time.
To assess your ability to do so, they may want to know a range of factors, including some aspects of your income. For example, they may ask for the total amount of money you make each year, and they may also ask for how long you’ve worked at your current job.
This information will help them determine whether they should approve your application.
What is the Amex 2 90 rule?
The Amex 2 90 rule is an internal rule from American Express that is used as a reference point when a customer has applied for a new credit card. It states that a customer should not be allowed to hold more than two American Express cards at once, and the total credit limit of both cards should not exceed $90,000.
This rule was created to ensure customers don’t take on excessively large amounts of debt with American Express and to help prevent debt issues. Additionally, the rule is meant to ensure customers are using their Amex cards responsibly and only taking as much as they can handle.
Is Amex platinum a luxury card?
Yes, the American Express Platinum Card is considered a luxury card because of the exclusive benefits it offers. The card comes with a host of premium travel benefits and rewards, such as up to $200 each year in airline and hotel credits, lounge access, and exclusive discounts.
Additionally, cardholders get access to Global Entry and the Platinum Concierge, which provides 24/7 access to a team of specialists that can help book entertainment, hotels, and more. And with a hefty annual fee, the American Express Platinum is definitely a luxury card for those looking for all the bells and whistles.