How rich do you have to be to have a platinum card?

Asked by: Angelo Kuphal  |  Last update: December 11, 2022
Score: 4.3/5 (69 votes)

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.

How much income do you need for a platinum card?

What does your credit score need to be for the Amex Platinum card? 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.

Do you have to be rich to have Amex Platinum?

No,. American Express is not specifically for rich people, even though it does have a high level of status in many people's minds. Applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards, and you don't need to be rich to have a good credit score.

Can anyone get a platinum card?

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.

How many Platinum card holders are there?

Here's the stats on what is known. 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.

Does the American Express Platinum Card have a credit limit? Is Amex Platinum credit line unlimited?

35 related questions found

Who has a black card?

The most exclusive credit card is the American Express Centurion Card, also known as the Amex Black Card. It is reportedly reserved for people who spend at least $100,000 per year, and an invitation is needed to apply.

Does Amex Platinum verify income?

No, American Express does not verify income on most credit card applications or credit line increase requests.

What cards do billionaires use?

Many of these cards are available by invitation only, and stringent wealth requirements must be met to qualify for them.
  • American Express Centurion Card. ...
  • JP Morgan Chase Reserve Card. ...
  • Dubai First Royal MasterCard. ...
  • Stratus Rewards Visa Card. ...
  • Coutts World Silk Card.

Is Amex platinum a status symbol?

American Express makes no bones about The Platinum Card's exclusivity. To be blunt, The Platinum Card® from American Express is a status symbol for a well-heeled, jet-setting minority – and for those fortunate enough to have ample corporate spending accounts.

What's so special about Platinum card?

Platinum credit cards offer greater spending power through noticeably high or uncapped credit limits. Better earn rates. Platinum cards gives cardholders the ability to earn two to three reward points per dollar spent, whereas with standard reward cards they can expect to earn no more than one point per dollar spent.

What is the highest Amex card?

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

What is Amex Platinum limit?

American Express Platinum has no preset credit limit. That means the amount you can spend may change from month to month based on your usage of the card, credit history, income and more.

Is Amex Platinum heavier than gold?

Its gold-plated exterior is a good bit lighter than its sibling (The Platinum Card® from American Express weighs in at 18.6g but comes with a $694 annual fee), but the Gold Card is worth its weight for cardholders who spend more on groceries and restaurants than flights.

Is the Amex Platinum Card elite?

In addition to the Amex Platinum and Amex Business Platinum, two Marriott Bonvoy cards provide automatic Gold Elite status: the Marriott Bonvoy Brilliant™ American Express® Card and The Ritz-Carlton Rewards Credit Card (no longer open to new applicants).

Is having an Amex card prestigious?

The Platinum Card® from American Express. The Platinum Card® from American Express is one of the most prestigious cards on the market, with a $695 annual fee to match (Terms Apply.

Which banks do millionaires use?

The Most Popular Banks for Millionaires
  • JP Morgan Chase (Private Bank) This bank is one of the oldest and most well-known banks in the United States. ...
  • Bank of America (Private Bank) ...
  • Citigroup (Private Bank) ...
  • Wells Fargo (Private Bank) ...
  • HSBC (Private Banking)

Where do millionaires keep their money?

No matter how much their annual salary may be, most millionaires put their money where it will grow, usually in stocks, bonds, and other types of stable investments. Key takeaway: Millionaires put their money into places where it will grow such as mutual funds, stocks and retirement accounts.

Do millionaires need credit?

But, a credit score isn't necessarily one of those issues, and many incredibly rich people have average credit. Being a millionaire certainly has its advantages, and those at a certain level of income don't always have to worry about the same financial issues as their less affluent counterparts.

How much 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.

What is Amex Platinum minimum spend?

The American Express Platinum card minimum spending requirement for the 100,000 points bonus is $6,000, spent within 6 months of being approved for an account. Eligible purchases by both the primary cardholder and any authorized users in the first 6 months count toward this threshold.

Who is the Amex Platinum card for?

A premium credit card like the Amex Platinum is suited to individuals who do not mind paying a large annual fee ($695) in return for access to a plethora of rewards and value-added services. Note that select benefits require enrollment.

What color is the highest credit card?

The highest credit card color is black, in large part because of the ultra-exclusive Centurion® Card from American Express, which is also known as the “Black Card” due to its color.

How many credit cards are too many?

Owning more than two or three credit cards can become unmanageable for many people. However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. The important thing is to make sure that you use your credit cards responsibly.

What is the highest credit limit ever given?

The highest credit card limit you can get is over $100,000 according to anecdotes from credit card holders. But like most credit cards in general, even the highest-limit credit cards will only list minimum spending limits in their terms. The best high limit credit cards offer spending limits of $10,000 or more.

How heavy is Amex Platinum?

How much does the AmEx Platinum weigh? The Platinum Card® from American Express weighs 18.5 grams.