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 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
No, American Express does not verify income on most credit card applications or credit line increase requests.
A solid credit score and income are necessary to qualify for the American Express Platinum card. Annual membership is $695 and cardholders get a variety of travel perks including access to Centurion, Delta, and Airspace lounges as well as benefits from hotels, car rental privileges, and concierge services.
Income requirements for the Amex Platinum. There is also no strict income or salary requirement for the Platinum Card. Platinum Cardholders, on average, do have very high incomes though. But there are reports of people getting approved with incomes in the $50,000 range or below.
Cardholder should have a Personal Annual Income of Rs. 6 Lakhs and above. Cardholder should have an Indian or multinational bank's savings or current account in India. The applicant must be an Indian resident.
They will request tax returns and bank statements. What they're looking for is to make sure the income you reported on the application is true. The process typically takes 2-3 weeks, and you're assigned a specialist to talk to.
The highest level American Express card is the Centurion card, which is also known as the 'black card.
All Amex says is that your credit limit depends on your credit history, debt level, income, and payment history on other American Express cards. One way to estimate what credit limit you might get on an American Express card is to read customer reviews of the card.
Does American Express automatically increase credit limits? American Express may automatically increase your credit limit as often as every six to 12 months. However, just because you haven't received an automatic increase doesn't mean you're not eligible. You should reach out to American Express to see if you qualify.
Yes, American Express does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Will I get a hard pull on my credit report by requesting a credit limit increase from Amex? Generally, American Express does not do a hard pull on your credit report when you request a credit limit increase.
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 (See Rates), which is higher than most other credit cards.
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.
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.
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 long does it take for American Express to approve a credit card application? Many American Express credit card applications will be approved immediately. However, if your application status is pending it can take up to 60 days to get a decision. If that happens, you'll be notified by mail once a decision is made.
However, one of the most common causes of a financial review appears to be a rapid ramp-up in spending. If you've been a cardholder for a few years routinely spending $2,000 a month on your card, and all of a sudden, you begin to spend $15,000-$20,000 a month, you might trigger a review.
The Platinum Card® from American Express (Terms apply. See rates and fees) 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.
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 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
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.
The Centurion® Card from American Express, sometimes referred to as the Black Card, may be the hardest credit card to get because you need a special invitation from Amex to apply and there's a high financial bar to getting the card. It's been reported the card requires a $7,500 "initiation fee" and a $2,500 annual fee.
The American Express Centurion Card is the most exclusive credit card in the world and commonly known as the “Amex Black Card.” Launched in 1999, American Express has kept it in a shroud of uncertainty, giving it a very high level of status in the minds of consumers.
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.
After looking at my credit limits and activity, someone — or some algorithm at Amex — decided to cut my EveryDay card's limit by $10,000 to $10,500. The reason, according to the letter from American Express, was: "There has been minimal activity on your account in the last twelve months."