Is Amex platinum worth it after first year?

The Amex Platinum Card is only worth the annual fee if you'll use enough benefits to recoup the fee. You could easily offset the fee with the statement credits alone, but this card also offers the chance to earn boosted rewards on travel purchases, too.

Is Amex Platinum worth it anymore?

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.

How much do you need to spend to make Amex Platinum worth it?

If you've decided that the card is worth its annual fee, here's the official application link: The Platinum Card® from American Express with 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership.

How much do you have to spend a year for a platinum Amex?

The American Express Platinum card minimum spending requirement for the initial bonus is $6,000. More specifically, you can earn 80,000 points for spending $6,000 in the first 6 months.

Is Amex Platinum first year fee waived?

American Express typically does not waive annual fees entirely, but it may offer a side benefit to offset the Platinum card's $695 annual fee. Retention offers traditionally include statement credits, bonus points or spending bonuses. But make sure your account is in good standing before calling.

The Amex Platinum Card - Honest 1 Year Review (2022)

How do I avoid Amex Platinum annual fee?

Most people will need to pay the $695 annual fee on The Platinum Card® from American Express in full each year. However, there are a few ways to waive the Amex Platinum annual fee if you're eligible. One way to have the fee waived in full is to qualify under the Military Lending Act or Servicemembers' Civil Relief Act.

Does the Amex Platinum card 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.

Is Amex Platinum difficult to get?

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 good or excellent credit and make a lot of money, you have a good shot.

Is there a minimum salary for Amex Platinum?

The American Express Platinum Card does not have a minimum income requirement to be eligible. You'll earn the best available signup bonus if you apply using a referral link.

Is American Express Platinum a luxury card?

Our quick take: The Platinum Card® from American Express is the king of luxury rewards travel cards, perfect for demanding travelers who place a high degree of value on perks like lounge access and complimentary elite status.

Does everyone get approved for Amex Platinum?

Salary Needed for Amex Platinum Credit Card

If you make near $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.

What's the limit on Amex Platinum?

If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit.

Can anyone get Amex Platinum?

Its requirements are far more lenient than those of the Centurion® Card from American Express. It is an invitation-only card that reportedly requires you to spend hundreds of thousands of dollars per year on another Amex card and have a 7 figure annual income to qualify.

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.

Which Amex card is hardest 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.

What cards are better than Amex Platinum?

Is Amex Platinum better than gold?

The Platinum card is great for people who love to travel. There are obviously many more perks that come with the Platinum card than with the Gold, especially when you consider the higher annual fee. Rewards can be used for merchandise, gift cards, dining, shopping, entertainment, or for use at the Amex travel website.

Is Amex Platinum a metal card?

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 is the credit card limit for 50000 salary?

#1 Your Income/Salary:

Usual credit limit is 2X or 3X of your monthly income. Suppose your salary slip shows Rs. 50,000 per month, you can expect Rs. 1 Lakh – 1.5 Lakh credit limit.

What is the highest Amex card?

The highest level American Express card is the Centurion card, which is also known as the 'black card.

How many Amex Platinum cards are there?

The four Amex Platinum cards are rich in benefits, but not wide in scope. For frequent travelers, perks like lounge access, hotel and car rental status and travel credits could more than make up the cost of the annual fee. Not a traveler?

How much is 125 000 Amex points worth?

We generally value Membership Rewards points at about 2.2 cents per point, which means that a 100,000 Membership Rewards points bonus offer is worth ~$2,200, a 125,000-point bonus is worth ~$2,750, and a 150,000-point bonus is worth $3,300.

Does Amex Platinum have no limit?

Does American Express Platinum have a credit limit? No, the American Express Platinum card doesn't have any preset spending limit. That does not give cardholders unlimited purchasing power, though. It means American Express won't give you a specific credit limit once you're approved for the card.

How much is 100 000 Amex points worth?

100,000 points are worth $2,200 per our valuations, and you can use them in a variety of different ways. Think international business class, free domestic airfare, and stays in luxurious hotel suites.

Does closing an Amex Platinum card hurt your credit?

Open card accounts can help your credit score in two different ways: credit utilization and length of credit history. Closing a credit card account can negatively affect both of those components of your credit score.