It will be difficult for the average person to get the american express platinum card because of the card’s 700+ credit score and reportedly high income requirements Another reason why the American Express Platinum card may be hard to get is because of the card’s daunting $695 annual fee.
What is an American Express business Platinum?
The Business Platinum is American Express’ premier travel and Membership Rewards-earning card for small business owners In exchange for a $695 annual fee, the card provides an impressive suite of travel and shopping benefits.
What income do you need for Amex Platinum?
While there is no set score needed, we recommend you have a credit score of at least 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
Can you use American Express Platinum for business?
The Amex Business Platinum is best suited for small-business owners who charge thousands of dollars in monthly business expenses to their cards, are frequent travelers and can take advantage of all the card’s premium benefits.
How prestigious is the Amex Platinum?
The Amex Platinum is one of the most prestigious travel credit cards you can own Trying for an American Express credit card lets you establish a relationship with Amex. Plus, it can make it easier to add the Amex Platinum Card to your wallet in the near future.
Is Amex Gold better 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. But Amex Gold provides more everyday value.
What are the benefits of Amex business Platinum?
- A Huge Welcome Bonus [$1,100 to $2,000+]
- Free Access to Thousands of Airport Lounges Worldwide [$1,000+]
- Earn 5x Points per Dollar Spent on Flights and Prepaid Hotels on Amex Travel [$100]
- Earn 1.5x on eligible purchases and Purchases Over $5,000 [$50]
How many Amex business Platinum cards can you have?
The short answer is YES, you can have two American Express Business Platinum Cards. However, in order to be eligible for the second welcome bonus, your account will need to be targeted to bypass the Amex bonus once per lifetime rule mentioned above.
Do Amex Business cards have a limit?
With Amex Business Gold there’s no pre-set spending limit We tailor your limit to you, so your credit limit will never be the one holding you back. And bigger purchasing power on your Card means maximising Membership Rewards ® too.
Does Amex ask for proof of income?
No, American Express does not verify income on most credit card applications or credit line increase requests Amex will generally require income verification only if something seems out of the ordinary, such as a 21-year-old claiming to have an annual income of $150,000.
How rich do you have to be to get an American Express card?
You need an invitation to get it, unfortunately. You can also request a Centurion® Card from American Express invitation online. While Amex doesn’t disclose the requirements, online reports say you have to spend at least $100,000 a ye.
What is the highest American Express card?
The highest level American Express card is the Centurion card , which is also known as the ‘black card.
How much is an Amex business Platinum Card?
Annual fee: $695 Welcome offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of Card Membership. Terms Apply.
What credit score is needed for American Express business?
If you’re considering applying for the Amex Business Gold card, we recommend you have a personal credit score of at least 700 or higher, or a business credit score of at least 75 or higher to maximize your chances of approval.
Do you have to pay off Amex business every month?
No, you don’t have to pay off all American Express card every month Most Amex credit cards allow you to carry a balance from month to month, requiring only a monthly minimum payment to keep your account in good standing.
Is the Amex Platinum card metal?
The Platinum Card ® from American Express is made from a combination of materials that includes stainless steel metal and has a heavier weight than the American Express ® Gold Card, according to a company spokesperson.
What income do you need for Amex Gold?
American Express does not disclose a specific income requirement , but it will need to be enough to make payments on the card and to afford the $250 annual fee.
Is having an American Express card a status symbol?
The Platinum Card® from American Express (Terms apply. See rates and fees) originally launched in 1984 with an annual fee of $250—unprecedented at the time. Since then, it has become one of the most popular and sought-after travel rewards cards, as well as a status symbol.
Is the business Platinum Card metal?
Metal card, Both the Business Gold and the Business Platinum feature heavy metal cards Pay Over Time, These cards have no preset spending limit. You can, however, use Amex’s Pay Over Time feature to extend payment on certain purchases.
How many Amex cards can you have?
Currently, you can have up to five American Express consumer credit cards at one time It is important to note that American Express offers multiple types of cards, business cards and consumer cards, and that the rule only applies to consumer cards where you are the primary cardholder.
What happens if you don’t pay Amex Platinum in full?
Interest charges accrue when you don’t pay the bill off in full Pay Over Time charges an interest rate that is the same across the Green, Gold and Platinum products. As of August 2020, cardholders who use the feature will pay an APR between 15.99% to 22.99%, depending on creditworthiness.
How do I get the Amex black card?
How much do you have to make to get Amex’s black card? There aren’t any income requirements per se, but you most likely need to be a high spender on your Amex cards. If you’re in the ballpark of $250,000 to $500,000 in annual spending across all your open Amex cards, you may qualify for the Centurion card.
How do I get a Black Card?
Generally, a card issuer invites only their most loyal customers who spend upwards of six-figures or more a year to become a black cardholder.
Does Amex business Report to personal credit?
No, an American Express business card doesn’t normally report to the consumer credit bureaus It will only report to TransUnion, Experian, and Equifax if your account reaches delinquent status.
Can I use my business card for personal use?
It’s not illegal to use your business credit card for personal expenses , but there are tax implications. If you made a mistake and used your business card for a personal expense, you’ll just need to flag that expense for your records and be sure not to deduct the amount when you file your taxes.
Does Amex business check personal credit?
Your small businesses may not have any business credit history, but that’s okay. In this case, Amex will rely primarily on your personal credit history and other information about your business to determine whether to approve your application.
Why do people love Amex Platinum?
The Platinum Card from American Express comes with 100,000 bonus points after you make $6,000 in purchases in the first six months of card membership (you may be eligible for an Amex Platinum 125k points bonus offer using the CardMatch tool; offer subject to change at anytime).
What is the most expensive credit card in the world?
The American Express Centurion Card is the most exclusive credit card in the world and commonly known as the “Amex Black Card.” Launched in 1999, American Express has kept it in a shroud of uncertainty, giving it a very high level of status in the minds of consumers.
Can I get into United lounge with Amex Platinum?
The Amex Platinum doesn’t provide access to United Clubs.
Is Amex Platinum better than black?
The Black Card is an exclusive charge card offered to high-net-worth individuals by invitation only. The Platinum Card is one tier lower Prospective cardholders may apply online and must meet minimum eligibility requirements. Besides the Black and Platinum Cards, American Express offers a line of 17 other cards.
How many credit cards is too many credit cards?
How many credit accounts is too many or too few? Credit scoring formulas don’t punish you for having too many credit accounts, but you can have too few. Credit bureaus suggest that five or more accounts , which can be a mix of cards and loans, is a reasonable number to build toward over time.
Can I change my Amex Gold to Platinum?
Yes, you can easily upgrade your Amex Gold card to the Amex Platinum card by calling the customer service number on the back of your Amex Gold card or using the chat feature on the American Express website.
Is clear free with AmEx business Platinum?
Now, an annual CLEAR membership is complimentary for Amex Platinum card and Amex Business Platinum cardholders However, you can’t simply flash your card at a CLEAR checkpoint, you’ll need to enroll first.
Can I upgrade my AmEx corporate card?
You can upgrade or downgrade your card at any time.
Does AmEx business Platinum have 200 hotel credit?
You can earn up to $200 in statement credits per calendar year when you use an eligible U.S. Consumer Basic Platinum or Additional Platinum Card to pay for eligible prepaid Fine Hotels + Resorts ® and The Hotel Collection bookings made through American Express Travel (meaning through amextravel.com, the Amex ® App, or by.
Is it smart to have 2 Amex cards?
The Points Guy confirmed this change, with an Amex spokesperson saying this regarding the four credit card limit: Yes, we made that change, because, in general, we see very few of our customers actively using four or more cards at the same time.
Can I get an Amex Platinum business card without a business?
If you do have your own business, though, and a solid financial history of spending responsibly with Amex, there are reports of targeted cardholders being prequalified – and eligible for the welcome offer – for a second Amex Business Platinum account.
What is the 5 24 rule?
What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase’s 5/24 rule means that you can’t be approved for most Chase cards if you’ve opened five or more personal credit cards (from any card issuer) within the past 24 months.
Is 17 000 a good credit limit?
A high-limit credit card typically comes with a credit line between $5,000 to $10,000 (and some even go beyond $10,000). You’re more likely to have a higher credit limit if you have good or excellent credit.
Can you have two Amex cards at once?
American Express limits customers to have a total of 5 Amex credit cards open at any one time This includes both personal credit cards and business credit cards but does not apply to their charge cards.
Can I apply for 2 Amex cards at once?
If you are applying for multiple Amex cards, simply wait at least six days to ensure you don’t get rejected for that second card. You can apply for two Amex cards in one day—as long as one is a charge card and the other a revolving credit card Otherwise, you won’t qualify under the 1-in-5 rule.
How long does Amex Platinum take to get approved?
How long does it take for American Express to approve a credit card application? Many American Express credit card applications will be approved immediately. However, if your application status is pending it can take up to 60 days to get a decision. If that happens, you’ll be notified by mail once a decision is made.
Does Amex automatically increase credit limit?
Does American Express automatically increase credit limits? American Express may automatically increase your credit limit as often as every six to 12 months However, just because you haven’t received an automatic increase doesn’t mean you’re not eligible. You should reach out to American Express to see if you qualify.
Can you lie about income on a credit card application?
If it is not, you could face serious penalties. When you add false information to a credit card application, you are committing a form of credit fraud It is a federal crime that can carry serious repercussions, such as the following penalties: You could be unable to file bankruptcy or charge off debts.
Citations
https://www.cnbc.com/select/american-express-business-platinum-card-review/
https://wallethub.com/answers/cc/is-it-hard-to-get-amex-platinum-2140716949/
https://www.nerdwallet.com/reviews/credit-cards/american-express-business-platinum
https://www.cnn.com/cnn-underscored/money/new-benefits-higher-annual-fee-amex-business-platinum
https://thepointsguy.com/guide/amex-business-platinum-card-review/
