Is American Express platinum for rich people?

According to Weiss, one of the most recommended cards for high-net-worth individuals is The Platinum Card® from American Express . While this card comes with a wide range of perks that make it seem too good to be true, it also comes with an annual fee of $695, which is higher than most other credit cards.

Is American Express Platinum a big deal?

The Platinum Card® from American Express is one of the most well-known premium travel cards around. With more than $1,400 in statement credits each year, lounge benefits, hotel elite status and travel protections, this card offers the complete package for luxury travelers.

What card do billionaires use?

The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.

Do rich people use Amex?

Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.

What is higher than Amex Platinum?

The Black Card is a high-end, exclusive charge card issued by American Express. Platinum Card holders must meet certain criteria to be extended an invitation. The American Express Black Card comes in personal and business variants.

That one rich passenger with her American Express platinum card 💰

Why is Amex Platinum so popular?

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.

What income do you need for Amex Platinum?

Person Income/Business Income

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

Which is the most prestigious Amex?

What is the hardest Amex to get?

The hardest Amex card to get is the Centurion® Card from American Express. Also known as the “Black Card,” this Amex card is hard to get because it is available by invitation only, and potential candidates are rumored to need an annual income of at least $1 million.

Is it better to have Amex gold or 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.

Is American Express Platinum Elite?

Amex Platinum Quick Facts

Elite status with Hertz, Avis and National Car Rental with enrollment. Elite airport lounge access with multiple lounge programs. Uber Cash totaling $200 in up to $15 per month increments (up to a total of $35 bonus in December) each year when you link your eligible card to your Uber account.

Is Amex Platinum easy to get?

Credit Score Needed for American Express Platinum

The credit score needed for the American Express Platinum is generally above 700. According to Credit Karma, the average score is 715. Although, several applicants with credit scores in the 600s have also been approved, even as low as 643.

Is Amex Platinum a status symbol?

The Platinum Card® from American Express (Terms apply. See rates and fees) was 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.

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. Amex cards are targeted toward people with good credit and high incomes who are likely to charge large amounts to their cards every month.

Who usually gets approved for Amex Platinum?

To apply for The Platinum Card® from American Express, you need to have a good or excellent credit score. This means you need a credit score of at least 700. The average applicant has a score of 715. Although, some applicants have been approved with a credit score as low as 643.

Is Amex Platinum really metal?

The card itself is a shiny but matte metal material—and is made from stainless steel, which should be way hardier than the previous plastic card.

Does Amex ask for proof of 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.

Does Amex Platinum have to be paid in full each 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.

Can you get Amex platinum with no income?

But an income is a must in order to get this card. And you need to demonstrate the ability to pay the card's $695 annual fee and the entire balance in full, when applicable. Having said that, it is also worth noting that you need at least good credit for approval.

How do I avoid Amex Platinum annual fee?

Here's how to get the American Express Platinum card annual fee waived: Call the retention line: You can ask Amex to waive the annual fee by calling (800) 452-3945.

Can I use Amex Platinum immediately?

Get started now with Instant Card Number.

With an instant credit card number by American Express, eligible Card Members can immediately start shopping online and using their new Card benefits today.

Should I tell Amex my income?

The only time that you're required to provide your income is during the credit card application process. Providing accurate income information is part of getting approved for a credit card. From then on, it's up to you. So, it makes sense to only update your income if it's going to be beneficial to you.

Is it hard to get American Express card?

Yes, it's hard to get an American Express card because they all require good or excellent credit for approval. But American Express isn't the only credit card company to target people in the highest tiers of the credit score scale. Barclays and Wells Fargo do too, for example.

What is the minimum salary required for American Express credit card?

However, you must fulfill the minimum annual income criteria for the American Express® credit card you are applying for. In general, you require a minimum income of Rs. 4.5 lakh or above if you are salaried, and Rs. 6 Lakh or above if you are self employed.

Why do people refuse Amex?

The answer is simple: stores want more money in its pockets. American Express charges stores, or merchants, higher fees than other credit card networks like Visa, Mastercard, and Discover. When you buy items with your Amex card instead of another credit card, your favorite store will be charged a higher fee.