How does Amex platinum credit work?

How does Amex platinum credit work?

How does Amex Platinum credit card work

The Amex Platinum® is a premium credit card that offers a welcome bonus, luxury perks, and other value-added services. Cardholders benefit from Uber credits, airfare discounts, bonus points, cashback and much more. Unlike typical credit cards, this card allows you to carry a balance for certain charges, but not all.
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What is the limit on a American Express Platinum Card

If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise. No preset spending limit means the spending limit is flexible.

Do I have to pay my Amex Platinum in full every month

You must pay in full, by the Payment Due Date, all charges that are not added to a Pay Over Time, Cash Advance, or Plan balance. We will begin charging interest on cash advances on the transaction date.

Is it hard to qualify for Amex Platinum

Yes, it is hard to get the American Express Platinum card because applicants need a 700+ credit score and a high income to qualify for approval. But if you have at least good credit and make a lot of money, you have a decent shot at getting approved.

Why is Amex Platinum so expensive

The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees.

What is the average income for Amex Platinum

We recommend that your annual income be at least $50,000 or higher before applying for the Amex Platinum.

Can I buy a car with Amex Platinum

Cardholders of The Platinum Card® from American Express (another high credit limit card), or any other type of Amex members, can try using the American Express Auto Purchasing Program, which connects you to dealers who accept American Express and let you charge $2,000 or more toward a car purchase on your Amex card.

What is the minimum income for Amex Platinum

Salary Needed for Amex Platinum Credit Card

If you make nearly $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.

Is Amex Platinum a status symbol

Yes, the American Express Platinum card is considered a status symbol because of its exclusive benefits, high annual fee, and reputation as a premium metal credit card. The American Express Platinum card caters to high-spenders who travel frequently and want a wide range of luxury travel perks and lifestyle benefits.

Is Amex Platinum a high end card

Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual card credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

Is Amex Platinum for millionaires

Unlike some of the other cards on this list, The Platinum Card® from American Express is an elite card, but it's not invite-only. This accessible card is one of the best credit cards for millionaires.

Is Amex Platinum for high income

Salary Needed for Amex Platinum Credit Card

There are no published salary requirements in order to qualify for The Platinum Card® from American Express. But, the more you earn, the better. If you make nearly $100,000 a year and have good credit, you should have no issue getting approved.

Who usually gets approved for Amex Platinum

Most Amex Platinum cardholders have a credit score of 670 or better, and relatively high income. But your score alone does not fully decide whether or not you will be approved. If you have a strong credit score with a few years of credit history and a decent annual income, you stand a good chance of being approved.

Can anyone get approved for Amex Platinum

American Express generally requires a good to excellent credit score to qualify for The Platinum Card® from American Express. Terms apply. You'll want to have at least a 690 credit score before applying for the card. So, you may need to work on building your credit score before applying for the card.

Why is Amex Platinum so prestigious

Yes, the American Express Platinum card is considered a prestigious credit card, as it's geared for big spenders who travel often and can take advantage of the card's many benefits. New cardholders earn 80,000 points for spending $6,000 in the first 6 months.

Is Amex gold higher than platinum

Amex Platinum ultimately offers more value, though. For example, its benefits include airport lounge access, while the Amex Gold Card's perks do not. When it comes to ongoing rewards on purchases, Amex Platinum has a higher maximum earning rate and better travel rewards.

Does Amex check income

While American Express probably won't ask to verify your income, it's not a good idea to lie about your income on an application. In fact, providing false information on a credit card application is against federal law. Therefore, you're much better off being honest when applying for an American Express credit card.

What is the minimum income for an Amex card

American Express Credit Card Eligibility Factors

Credit Card Annual Income for Salaried Annual Income for Self-Employed
American Express® Gold Card Rs. 6 Lakhs and above Rs. 6 Lakhs and above
American Express® Platinum Travel Credit Card Rs. 6 Lakhs and above Rs. 6 Lakhs and above

Will Amex verify my income

What you should know about the American Express income verification process: If Amex does request proof of income, you'll receive a reference number either by mail or email. This number will give you access to the American Express income verification portal.

Does Amex look at your bank account

They will request tax returns and bank statements. What they're looking for is to make sure the income you reported on the application is true.