Why do people love Amex so much?

People like American Express cards for a combination of generous rewards, exclusive luxury benefits, outstanding customer service, and the perceived prestige associated with the brand.

Why do people love American Express so much?

American Express has affluent consumer cardholders and is a leader in corporate cards, and cards for small business owners. Each of these groups of customers is attractive to retailers because on average they spend more and buy higher margin products than the average consumer that walks in the door.

Why do only rich people use American Express?

Because Amex do high end cards (Centurion and Platinum) which are mostly aimed at people who spend relatively large amounts especially on travel and luxury goods.

Why does Gen Z like Amex?

They're a good credit card and customer service is great. They're so popular right now because the new generation is obsessed with ``flexing'' online and it's a now easily accessible status symbol. It's the same reason young people buy 10 year old Benz.

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

100,000 American Express points are worth anywhere from $500 to over $2,000, or potentially much more, depending heavily on your redemption method; you'll get low value (around $500-$700) for statement credits or merchandise but can achieve 1 cent per point ($1,000) or higher for flights via Amex Travel or by transferring to airline/hotel partners (potentially $2,000+), notes WalletHub, Oreate AI, Bankrate, NerdWallet, and FinlyWealth.

Why Wealthy Americans Love AmEx

What is the 2 in 90 rule for American Express?

The Amex "2/90 Rule" (or 2-in-90 rule) means American Express (Amex) generally approves you for a maximum of two new credit cards within a 90-day period, with a third application in that window likely to be automatically denied. This rule applies specifically to Amex's traditional credit cards, not necessarily hybrid cards like the Platinum or Gold, though applying for too many Amex products too quickly can still trigger manual reviews or "pop-up jail" for welcome offers. 

How much is 1 million AmEx points worth?

One million American Express (Amex) Membership Rewards points are worth anywhere from $6,000 to over $20,000, depending heavily on redemption, with average values around $10,000 to $22,000 when redeemed smartly for travel, but significantly less (around $6,000-$9,000) for gift cards or statement credits, with top values achieved by transferring to airline/hotel partners for luxury flights. 

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

With a $70,000 salary, you could expect initial credit limits ranging from around $14,000 to over $20,000, potentially reaching higher with excellent credit, but the actual limit depends heavily on your credit score, existing debt (Debt-to-Income ratio or DTI), and the card issuer's policies, as lenders focus more on your ability to repay than just income. 

Why is American Express so boujee?

The main reason Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which justify their steep annual fees. Amex cards are designed for people with good credit and a lot of income who are likely to charge large amounts to their cards every month.

How many Americans have $20,000 in credit card debt?

A majority of Americans (53%) carry some, with an average balance of $7,719. However, a third of those carrying debt (32%) owe $10,000 or more, while almost 1 in 10 (9%) have credit card debt over $20,000.

What salary do I need for Amex?

American Express income requirements vary by card, but generally, you need a steady source of income, even if it's not traditional wages (like investments, Social Security), and often need to be at least 21, though 18 is possible with proof of income or as an authorized user; while they don't always verify income, honesty is key, and factors like your credit score and overall financial health matter more than a specific dollar amount for general cards, though premium cards demand higher income/credit. 

What do 90% of millionaires have in common?

The famed wealthy entrepreneur Andrew Carnegie famously said more than a century ago, “Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.

Why do businesses not like Amex?

Some businesses don't accept American Express (Amex) primarily due to higher processing fees (interchange rates) compared to Visa/Mastercard, which eats into their profits, especially for low-margin businesses or smaller shops; plus, historically, it was harder for merchants to process Amex, though new programs are improving acceptance. While Amex offers premium perks for cardholders, businesses must pay for those benefits through these elevated fees, making them less appealing for some retailers focused on cost-cutting. 

What type of people use Amex?

American Express (Amex) cardholders are a diverse group, ranging from younger generations (Millennials/Gen Z) drawn to experience-focused cards like Gold/Platinum for perks and status, to high-net-worth individuals using premium cards for luxury travel/lounges, and practical travelers seeking essential rewards, all typically requiring good to excellent credit for approval, though the perception remains one of prestige, especially for premium products. 

Can I buy a car with Amex?

Yes, you can use American Express to buy a car, primarily for a large down payment or even the full amount at select dealerships via the now-discontinued Amex Auto Purchasing Program (powered by TrueCar), which guaranteed at least $2,000 in charges, but some dealers accepted more, though it's crucial to check with dealers as fees and limits (often $2k-$10k) apply and the official program ended in April 2025. While the program is gone, you can still use your Amex for a down payment to earn points/cashback, but be aware of potential high interest rates and work with dealers who allow it for significant portions of the purchase. 

Are Amex cards a status symbol?

Yes, American Express (Amex) cards are widely considered status symbols, particularly higher-end ones like the Platinum and Centurion (Black) cards, due to their association with wealth, luxury perks, high annual fees, and exclusive benefits, appealing to affluent individuals and younger generations seeking lifestyle indicators, though their prestige is evolving with mainstream availability and other premium card options.
 

What salary do you need for Amex Platinum?

While there's no strict minimum income, American Express generally suggests applicants for the Platinum Card should have an income around $50,000 or higher, sufficient to cover living expenses and card repayments, along with a strong credit history and score, though approved users often have significantly higher incomes. The Amex Business Platinum offers more flexibility for business owners, including part-timers.
 

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

100,000 American Express points are worth anywhere from $500 to over $2,000, or potentially much more, depending heavily on your redemption method; you'll get low value (around $500-$700) for statement credits or merchandise but can achieve 1 cent per point ($1,000) or higher for flights via Amex Travel or by transferring to airline/hotel partners (potentially $2,000+), notes WalletHub, Oreate AI, Bankrate, NerdWallet, and FinlyWealth.

Does Chick-fil-A accept Amex?

Yes, Chick-fil-A generally accepts American Express (Amex) cards for payments at their locations and within their app, supporting major credit cards like Amex, Visa, and Mastercard. You can use Amex for in-person purchases, load it onto your Chick-fil-A One account, and even link it for certain rewards programs. 

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 credit card has a $100000 limit?

A $100,000 credit card limit is excellent, typically requiring top-tier credit, high income, and low debt, with cards like the Chase Sapphire Preferred rumored to offer such limits (though usually starting at $5,000), and some premium business cards, like Brex, designed for high spending. Reaching this limit depends on factors like your credit score, income, and responsible spending, and you can often request increases or report higher income to issuers. 

Should a $20000 credit card have a $6000 balance?

How Much You Should Spend With a $20,000 Credit Limit. Spending between $200 and $2,000 per month is best for your credit score. You should avoid having a balance above $6,000 when your monthly statement gets generated. Even if you spend $0, your credit score will still improve just by having the account open.

What will 300,000 Amex points get you?

300,000 Amex points offer significant travel value, potentially getting you multiple business class flights (like roundtrips to Europe/Asia with partners like British Airways/Cathay Pacific), several luxury hotel nights (Marriott, Hilton), or even first-class tickets, especially by transferring to airline/hotel partners rather than booking directly through Amex Travel for lower value. The best value comes from strategic transfers to maximize points for premium cabin airfare or high-end hotel stays, giving you thousands of dollars in travel. 

What will 200K Amex points get you?

200,000 Amex points can get you significant value, often translating to $2,000+ in flights via Amex Travel, but much more through transfers to airline/hotel partners for business/first-class travel (potentially $10,000+ in value) or several nights at luxury hotels, offering the best value, while other options like gift cards yield less (around $100-$1,000). The actual value depends heavily on how you redeem them, with travel partners offering the most bang for your buck. 

Can I use Amex points on Amazon?

Eligible Card Members have the option of using points at amazon.com. When you use points at amazon.com toward your entire purchase, we will charge your purchase to your Card and deduct the points you used from your Membership Rewards® account. You will also see a statement credit for the points you used.