How exclusive really is the American Express Platinum Card? It costs $300 a year in annual fee and requires $50K-$60K in annual income to apply. Is it worth it? Any personal story to share?
PS: I am talking about the charge card, not the platinum credit card.
2006-08-05 14:16:06 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Not quite as exclusive as it used to be, but still exclusive enough.
It has excellent concierge service and other perks. Very nice if you travel or use it often enough to justify the fee. Though Amex has just done away with some of the perks, but never dropped the fee as compensation.
Other downsides, sometimes when you try to use it, for large purchases, you may have to call ahead and notify them of the use.
You may be subject to financial reviews for no reason and if you don't prove your income, all of your Amex cards will be frozen. Always carry a backup non Amex card.
2006-08-05 15:12:21 · answer #1 · answered by echo 7 · 2⤊ 1⤋
The American Express Platinum card isn't a credit card as such. Theres no spending limit but you do have to pay an annual fee, plus whatever you spend has to be paid off in full every month. Therefore is only really considered for people with a decent, regular wage and good credit.
2016-03-27 00:30:32 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The AMEX Platinum Card used to be about status. But now there are so many "platinum" cards out there that just look as good. No one can beat the great customer service at AMEX, but you get it with any card (like Blue, one of the IN cards, Platinum Business Card, etc).
The Platinum Card is still prestigous because it costs so much and it is one of the first (and most expensive) platinum cards out there.
I still have a Platinum Card, and I just like it for the airline club access because I travel a lot. They also have a great Platinum concerige service that my wife and I use a lot. The rewards program is also nice.
2006-08-05 14:45:52 · answer #3 · answered by xls8000 2 · 0⤊ 0⤋
First of all, I would simply not pay $300 a year for ANY card! Secondly, if it is a CHARGE card - like I think most American Express cards are then you shouldn't be bothered UNLESS you KNOW you can pay the entire balance of every month.
2006-08-05 14:21:25 · answer #4 · answered by ami 3 · 0⤊ 1⤋
Any card that expects an annual fee....is a waste of money REGARDLESS of the perks they like to say they have.
2006-08-05 14:25:09 · answer #5 · answered by Shanan D 4 · 0⤊ 0⤋
Geeze... why pay for a card when you can get them with no anual fee? With that kind of income one should be able to pay off the card every month and it would cost zip.
2006-08-05 14:26:00 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Credit is credit, where would you use it, that will not accept Visa , Master Card or others?
2006-08-05 14:20:22 · answer #7 · answered by G. M. 6 · 0⤊ 0⤋