Quick Answer: Is Amex Platinum Prestigious?

What credit score do you need for Amex Platinum?

The Amex Platinum credit score requirement is 700 or higher for good approval odds.

Applicants need a good credit score or better to be approved for the American Express Platinum Card in most cases..

What is the easiest Amex card to get approved for?

The Blue from American Express® is worth checking out if you’re building or rebuilding your credit, since it’s among the easiest American Express cards to qualify for. Although it doesn’t have a high rewards rate, it will earn you points on all your spending.

Does Amex Platinum have a limit?

The Amex Platinum Card has no pre-set spending limit, which means your limit will depend on your monthly spending habits and could change from month to month. But some Amex Platinum cardholders say they start out with a limit of about $2,500 that then adjusts with their spending habits.

How do I get my Amex Platinum fee waived?

To get American Express Platinum’s annual fee waived, call the American Express retention department at 1 (800) 452-3945. State that you’re considering cancelling or switching cards because of the high annual fee.

Does Cancelling a charge card hurt your credit score?

Canceling a credit card can affect your credit score because it can increase your credit-utilization rate, which is the percentage of your revolving credit that you are using at any given time. Charge cards don’t affect your credit-utilization rate, so the impact of canceling the card is likely to be small. …

What credit card does Bill Gates use?

American ExpressIt’s just easier.” The frugal billionaire revealed that he has at least one credit card though – “I’ve got an American Express card which I got in 1964.” His empire – Berkshire Hathaway – owed 17.9% of American Express as of the end of 2018.

What is the most prestigious credit card in the world?

What Are the Most Exclusive Credit Cards?Centurion Card from American Express, aka the Black Card.J.P. Morgan Reserve Card.Citi Chairman American Express Card.Dubai First Royale Mastercard.Stratus Rewards Visa.Coutts Silk Charge Card.Citibank Ultima Infinite.

Should I get Amex gold or platinum?

Amex Platinum has a higher maximum earning rate and better travel rewards. But Amex Gold provides more everyday value.

Is it hard to get Amex Platinum?

The Amex Platinum can be a hard credit card to get. It does have a high annual fee of $550 (See Rates & Fees). … Some experts recommend waiting two years to apply for the Amex Platinum after you get your first credit card.

Is Amex platinum a status symbol?

The Amex Platinum Is the Best Credit Card for Anyone Who Loves Free Upgrades and Perks. … It has a lot to do with the fact that this credit card is a status symbol in its own right. It also comes with the best airport lounge access and hotel upgrades in the industry.

Is American Express still prestigious?

American Express is one of the best-known credit card companies that was founded in 1850. The company has already earned its credibility in the eyes of the U.S. and international community, so yes – we can say that it is one of the most prestigious credit card company.

What is the hardest credit card to get?

Hardest Credit Cards To Get of 2020:Hardest Overall: Centurion® Card from American Express.Luxury Travel: J.P. Morgan Reserve Credit Card.Rewards: U.S. Bank Altitude Reserve Visa Infinite® Card.Business: Wells Fargo Business Elite Signature Card®Travel: Bank of America® Premium Rewards® credit card.More items…

Does Amex Platinum build credit?

Charge cards, which include both the personal and business versions of the Amex Platinum Card, Amex Gold Card and Amex Green Card, don’t have a preset credit limit. … Note that Amex will still report your statement balances to the credit bureaus, even if they don’t affect your credit score.

What credit card do billionaires use?

1. American Express Centurion Card. The American Express Centurion Card is the most exclusive credit card in the world and is commonly known as the original black card.

What’s higher than a black card?

The Mastercard® Gold Card™ is the highest end card offered by Luxury Card, which offers three metal rewards cards. The other two are the Mastercard® Black Card™ (Review) and the Mastercard® Titanium Card™ (Review).

Why does American Express have a bad reputation?

Historically, American Express charged higher fees than their competitors, making their cards less attractive to merchants. … As if that weren’t enough, American Express also developed a reputation for siding more frequently with the customer than with the business when it came to chargebacks and other disputes.

Who has AMEX black card?

The American Express Black Card isn’t available to just anyone. It’s a charge card that’s offered to high-net-worth individuals (HNWIs) through an invitation. 4 Think of it as an exclusive club. This means you can’t just apply to join.

Why is AmEx so expensive?

While there are a few reasons for this, it’s mostly because American Express relies on fee income for more of its revenue than the others do. … 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.

Is the platinum Amex worth it?

The Amex Platinum comes with tons of benefits, a nice welcome bonus of 60,000 Amex Membership Rewards points after meeting the minimum spending requirements – and an eye-popping annual fee. But it’s definitely worth keeping if you use the ongoing perks, including (terms apply):

What is the most prestigious American Express card?

Centurion® Card from American Express 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 happens if you don’t pay Amex Platinum in full?

Amex Platinum is a charge card, which means the entire regular balance must be paid in full each month. American Express will charge a late fee of $29 the first time you fail to make at least your Amex Platinum minimum payment on your Pay Over Time balance by the due date.