Is it worth getting platinum Amex?
Overall, the Amex Platinum still remains worth it if you can take advantage of the benefits without overextending yourself. At the end of the day, it’s not financially savvy to spend more money just to take advantage of the card’s benefits.
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.
Is Amex platinum hard to get?
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.
Is Amex Platinum still 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.
How many people have Amex Platinum?
Circulation figures for 2017 suggest that outside the U.S., there are about 400,000 Platinum Cards, and 84,000 Centurion Cards. In the United States, TimeInc reports that American Express Platinum Card and Centurion membership has increased 23% since 2010.
Is Amex Platinum better than gold?
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 credit cards 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.
Is having an Amex card prestigious?
Why It’s One of the Most Exclusive Credit Cards: The most exclusive, prestigious credit card is without a doubt the American Express Centurion Card, otherwise known as the Amex Black Card. That’s because it’s the most famous.
What is the highest Amex card?
the Centurion card
The highest level American Express card is the Centurion card, which is also known as the ‘black card. ‘ However, it’s available only by invitation from American Express, meaning you can’t just apply for it as you would the other cards mentioned in this article.
What salary do I need for Amex Platinum?
While there is no set score needed, we recommend you have a credit score of at least 670, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
How much do Amex Platinum holders make?
According to this, the average Departures reader (and therefore average Amex Platinum cardmember): Has a net worth of $4.3 million. Has a household income of $474,000.
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 many people have an Amex Platinum?
Are Platinum cards 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.
What income do you need for Amex Platinum?
How many people own an Amex Platinum?
How do I get my Amex Platinum fee waived?
Apply for the Amex financial relief program: If you’re having difficulty paying your annual fee due to unforeseen financial difficulty, apply for the financial relief program online or call Amex at (866) 703-4169. You could potentially have your annual fee waived.
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.
How many Amex cards can you have?
You can have up to four Amex credit cards at once, as American Express has confirmed. The limit of four American Express credit card accounts includes traditional Amex credit cards and cards co-branded with airlines, hotel chains, etc. There is a separate limit for American Express charge cards: 10.
Does Amex platinum have to be paid off monthly?
Platinum cards must be paid off in full every month. Gold card owners can carry over certain balances with interest.
What card do billionaires use?
Centurion® Card from American Express
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.
Why are Amex fees so high?
American Express has a somewhat different business model than other card issuers. Instead of aiming to make the majority of its income from interest, Amex makes its money from swipe fees charged to merchants and annual fees charged to its customers.
How much is Amex Platinum annual fee?
a $695 annual fee
Amex Platinum Annual Fee and Suite of Credits and Benefits. The Platinum Card has a $695 annual fee. Though the fee is paid once a year, the math works out to about $58 a month. At the same time, the Platinum Card can help you get access to over $1,500 value in benefits.
Should you have 2 Amex cards?
The Amex “2 in 90” rule limits cardholders to two card approvals every 90 days. This rule builds on top of the one card every five days rule. The rule prevents consumers from being issued too much credit, along with limiting the number of welcome offers consumers can earn.
What is a 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.