Is the Amex Platinum worth the yearly fee?

Yes, the Amex Platinum can easily be worth its high annual fee for frequent travelers and big spenders who maximize its extensive credits and luxury perks (like lounge access, hotel status, and dining/shopping credits), potentially exceeding $2,000+ in value annually, but it's a poor choice for occasional travelers or those who won't use the benefits, as the $895 fee is steep and benefits require enrollment and specific usage patterns.

Is American Express Platinum worth the yearly fee?

Total estimated annual value: More than $2,000

The American Express Platinum Card® offers valuable statement credits, which can help justify the card's hefty annual fee. If you max out these credits, you could potentially earn more than $2,000 in value each year — more than double the card's annual fee.

Does Amex Platinum ever waive its annual fee?

You might get your Amex Platinum Card® annual fee waived if you call customer service at (800) 452-3945 and say that you're considering closing the account due to the cost, though it's not guaranteed to work. If you want a fee waiver due to hardship, consider applying for the Amex financial relief program.

Why is the Amex Platinum annual fee so high?

It's part of Amex Platinum's ongoing shift from travel card to lifestyle card. Those benefits can easily outweigh the increased annual fee — the primary word there being can. "Anytime these changes come, the justification is all the slew of added benefits that they are marketing.

What are the downsides of Amex Platinum?

Disadvantages of the Amex Platinum

High annual fee ($895) may be tough to justify without frequent travel (see rates and fees). Low earn rate (1x) on most purchases. No intro APR offer. Benefits require effort to fully use (e.g. monthly credits, specific enrollment).

The TRUTH about the NEW AmEx Platinum! Worth $695 Annual Fee?

What salary do I need for Amex Platinum?

What salary do you need to qualify for an Amex Platinum Card? There isn't a published income requirement for the Amex Platinum Card. However, income is considered, and having a higher income will help improve your approval odds.

What is the Amex 2-90 rule?

Amex 2-in-90 rule

American Express restricts card approvals to no more than two within 90 days. This means that even if you follow the 1-in-5 rule above and get two cards more than five days apart, you still can only get those two cards within 90 days. So far, there are no exceptions to the Amex 2-in-90 rule.

How much are $100,000 American Express points worth?

How much are 100,000 Amex points worth? At a minimum, these points should be worth $1,000 when paying for flights in the travel portal or gift cards offering 1 cent apiece in redemption value. However, you could fly round-trip to Europe in business class with Air France or KLM for 100,000 points.

Is Amex the hardest credit card to get?

Yes, it's hard to get an American Express card because you will need a good or excellent credit score for approval, along with enough income for monthly bill payments. American Express cards are generally considered some of the most exclusive credit cards on the market.

Is it illegal to charge 3% credit card fee?

US-Wide Credit Card Surcharge Guidance

The surcharge rate can never exceed 4% of the total credit card transaction (3% for Visa cards). Businesses must follow guidelines set by card networks such as American Express and Mastercard.

Does cancelling Amex Platinum hurt credit?

Also, unlike a credit card, canceling a charge card won't severely harm your credit score, as one of the main factors that impacts scores is credit utilization, or the percentage of available credit you use each month.

Can you write off Amex Platinum fee?

Personal credit card fees aren't deductible, but business-related fees are eligible for tax deductions. Businesses can deduct credit card finance charges, annual fees, and processing fees as expenses.

Is American Express Platinum a luxury card?

The Platinum Card® from American Express has long been at the forefront of luxury travel, with high points multipliers and premium rewards. But did you know the Card also offers an abundance of elevated entertainment and dining benefits?

Is Amex Platinum a status symbol?

Why Platinum Card® Is a Status Symbol. High-end travel benefits: Includes airport lounge access, automatic hotel elite status (enrollment required), car rental privileges, Global Entry or TSA PreCheck® application fee credits, and more.

Can I buy a car with Amex Platinum?

Cardholders of the American Express Platinum Card® or any other type of Amex members, can try using the American Express Auto Purchasing Program, which connects you to dealers who accept American Express and let you charge $2,000 or more toward a car purchase on your Amex card.

Why is Amex Platinum so hard to get?

It may be hard to get the Platinum Card® because you need a good to excellent credit score and a high income to be eligible for this card. Approval is never guaranteed, though.

What is the credit card limit for $70,000 salary?

The credit limit you can expect for a $70,000 salary across all your credit cards could be as much as $14000 to $21000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open.

What credit score do you need for a $400,000 house?

Credit Score

When applying for a $400,000 home, lenders evaluate your credit scores to determine eligibility and the rates you'll receive: 740+: Best rates and terms. 700-739: Slightly higher rates. 660-699: Higher rates, may require larger down payment.

What will $30,000 Amex points get me?

Transferring 30,000 points to our loyalty partners gives you between £300 and £900.

What is the 2 in 90 rule for American Express?

2 in 90 Rule

You can only get approved for two credit cards every 90 days. This means that if you apply for a third card within the 90-day window, you'll automatically be rejected. These rules apply to credit cards only and not charge cards, so you can apply for as many charge cards as you like.

What will 200K Amex points get you?

While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.

How to negotiate Amex annual fee?

1. Request a reduction or retention offer. It might seem bold, but one way to get an amex membership fee reduced all the way down to as low as $0 is to directly ask for it over the phone or online chat. ...
2. Cancel or product change to a different card. ...
3. Apply for the financial relief program.

What triggers Amex pop-up jail?

Since they already suspect you're abusing their welcome offers—hence why you're in Amex pop-up jail—if they see you're trying to apply for lots of their cards, they're less likely to allow you to get the welcome offer. You won't know if the pop-up has gone away if you don't apply for a new card.