What is the average credit limit on American Express Platinum? (2024)

What is the average credit limit on American Express Platinum?

The Platinum Card® from American Express does not have a traditional credit limit; utilization for this card is not calculated the same as cards with credit limits.

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What is the average credit score for American Express Platinum card?

To qualify for the Amex Platinum Card®, you'll typically need a good to excellent credit score (670+). However, your credit score isn't the only thing that matters. Your income, history with American Express and other factors are also taken into consideration.

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What is the minimum limit on the American Express Platinum card?

access $3,000 or more in credit and to determine their credit limit The minimum credit limit for this product is $3,000 and consumers are able to nominate their credit limit (subject to American Express' credit approval criteria).

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Is the Amex Platinum card hard to get?

American Express generally requires a good to excellent credit score to qualify for The Platinum Card® from American Express. Terms apply. You'll want to have at least a 690 credit score before applying for the card. So, you may need to work on building your credit score before applying for the card.

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Can I get Amex Platinum with 700 credit score?

Of course, the more premium the card, the higher the score you'll generally need to have. For cards such as The Platinum Card® from American Express and American Express® Gold Card (see rates and fees), for example, you'll need good to excellent credit — usually a score of 680 at a minimum.

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What is the highest limit on Amex Platinum?

Rhonda Stewart, WalletHub Loans Analyst. No, the American Express Platinum card doesn't have any preset spending limit, but that does not give cardholders unlimited purchasing power. It means American Express won't give you a specific credit limit once you're approved for the card.

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Is American Express Platinum a luxury card?

When it comes to added benefits, The Platinum Card from American Express takes the lead. The card's suite of benefits, including a $200 hotel credit, $240 Digital Entertainment Credit, $155 Walmart+ Credit, and Global Lounge Access, offers a diverse range of luxury and practical advantages.

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Can I use my Amex to buy a house?

Absolutely not. Kipp says that this is one of the top misconceptions about the program. The only involvement from American Express is the bonus you get after closing; you aren't actually using your credit card to purchase the house, nor are you using it to pay any deposits, title costs or mortgage fees.

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Does Amex Platinum have to be paid off every month?

With The Platinum Card® from American Express you're required to pay your balance in full every month. Although Amex allows cardholders to pay certain purchases over time, paying in full every month can help you avoid interest charges and make the most of the card's value.

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What is the most prestigious credit card?

What is the most prestigious credit card? One of the world's most prestigious credit cards is the Centurion® Card from American Express*. Though there may be other cards with more elaborate benefits, those cards are kept well under wraps.

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How do I get my Amex Platinum fee waived?

While it may seem hard to believe, there are two ways to avoid the annual fee on this premium card.
  1. Open the Morgan Stanley version of the card and a Platinum CashPlus account. There are multiple versions of The Platinum Card® from American Express. ...
  2. If you're active-duty military, American Express waives the fee.
Mar 14, 2024

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Which Amex is better gold or platinum?

The Amex Gold card is probably a better choice for those who want to earn at-home membership benefits. The Platinum card is designed to provide benefits to travelers. Both the Amex Platinum and Gold cards require high credit scores and have a hefty entry price in the form of an annual fee.

What is the average credit limit on American Express Platinum? (2024)
Which is more prestigious Amex Gold or Platinum?

If you're more interested in the perks, the Platinum is a dream for the high roller who wants to travel in style. But the Gold is a better earner and worthy travel companion, too, offering 4x points on dining worldwide (and at U.S. supermarkets). Terms apply.

What's the easiest Amex to get approved for?

Which Amex card is the easiest to get? The easiest Amex cards to get are ones with a lower minimum spending requirement for rewards, as well as a low annual fee or no annual fee. Examples include the Blue Cash Everyday Card from American Express and the American Express Cash Magnet Card.

What is the easiest credit card to get approved for?

Easiest credit cards to get
  • Best for students: Discover it® Student Cash Back.
  • Best for no annual fee: Citi Double Cash® Card.
  • Best secured credit card: Discover it® Secured Credit Card.
  • Best for cash back: U.S. Bank Cash+® Visa® Secured Card.
  • Best for no credit: Petal® 2 “Cash Back, No Fees” Visa® Credit Card.
Apr 9, 2024

How many Americans have a 700 credit score?

Percentage of the Population by Credit Score
Credit ScorePopulation Share
1 more row
Apr 13, 2023

What credit cards have a $20,000 limit?

For those looking for a Credit Cards with $20000 Limit Guaranteed Approval, there are several options available, including the Chase Sapphire Reserve, American Express Gold Card, Ink Business Preferred Credit Card, Capital One Venture X Rewards Credit Card, and the Chase Sapphire Preferred Card.

What is the annual income for Amex Platinum?

Salary Needed for Amex Platinum Credit Card

There are no published salary requirements in order to qualify for The Platinum Card® from American Express. But the more you earn, the better. If you make nearly $100,000 a year and have good credit, you should have no issue getting approved.

How do I increase my Amex Platinum limit?

To request a credit limit increase on your American Express Card, log into your account and navigate to the credit limit increase request form or simply call the number on the back of your Card.

Is a platinum Amex a big deal?

The Platinum Card® from American Express is a high-end card that is packed with benefits and a hefty welcome offer. Cardholders can take advantage of numerous annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and much more.

Who qualifies for Amex Platinum?

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.

Can you carry a balance on Amex Platinum?

Amex Platinum Card®: An Overview

Unlike typical credit cards, this card allows you to carry a balance for certain charges, but not all. There is a catch, though: the Amex Platinum® carries a $695 annual fee, which is high compared to other options.

Does Amex look at your bank account?

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.

Can I use my Amex to pay bills?

Use your American Express® Card to pay your recurring bills and get rewarded in return.

Can I use my Amex to buy a car?

Each participating Certified Dealer in the American Express Auto Purchasing Program will accept the American Express Card for at least $2,000 and up to the full purchase price.

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