What is better a platinum or gold card?
Platinum cards give higher minimum credit limits than gold cards, which can be a bonus if you spend a lot on credit and can responsibly manage your credit card payments. Platinum cards charge higher annual fees than gold cards offered by the same provider.
What is the difference between platinum and gold Amex?
The Gold card is geared toward people who are big shoppers, eat out a lot, and do a lot of everyday spending. A Gold card costs $250 per year, and a Platinum card costs $695 annually. Platinum cards must be paid off in full every month. Gold card owners can carry over certain balances with interest.
Is it worth it to have both the Amex Platinum and Gold?
By carrying both and using them for different purposes, you can rake in even more points, even faster, while enjoying all the benefits the Amex Business Platinum confers and the Amex Gold’s stellar earning rates.
Is Amex platinum hard to get?
Yes, the American Express Platinum card is hard to get approved for. It will be difficult for the average person to get the American Express Platinum card because of the card’s 700+ credit score and reportedly high income requirements.
Is Amex platinum prestigious?
The Amex Platinum is one of the most prestigious travel credit cards you can own.
Is the gold Amex worth it?
For the right cardholder, the Amex Gold is absolutely worth it. The card offers the highest combined rewards rate you can find on both U.S. supermarket and restaurant purchases – making it ideal for foodies. Plus, it comes with several travel protections and credits that can help offset its high annual fee.
Is it worth upgrading to Amex Platinum?
Overall, the Amex Platinum still remains worth it if you can take advantage of the benefits without overextending yourself. At the end of the day, it’s not financially savvy to spend more money just to take advantage of the card’s benefits.
Does Amex Platinum have a spending limit?
American Express Platinum card has no pre-set spending limit, which means your limit is flexible, will depend on your monthly spending habits and could change from month to month. The annual fee is $695, and you need good credit or better to get approved.
Can I change my Amex platinum to gold?
Yes, you can downgrade your Amex Platinum card to the Amex Gold card. But just like with upgrades, you’ll want to make sure that you’ve had the card open for at least 1 year or more. This is a great way to save yourself some money if you no longer find the benefits of the Amex Platinum card to be worth the fee.
What income do you need for Amex Platinum?
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.
Is Amex Platinum free for military?
The Amex Platinum card waives its annual fee for active-duty servicemembers — but even with the fee, it’s an excellent value. The letter F.
Does Amex Gold have a limit?
The American Express® Gold Card has no preset spending limit, which reflects its origins as a charge card — a card that requires you to pay your bill in full every month. Nowadays, the card allows you to pay for some purchases over time.
How do you get American Express 75k Gold?
Amex Gold 75,000-point offer
New cardmembers can earn 75,000 points after spending $4,000 on eligible purchases in the first six months of account opening. What’s more, if you’re targeted for this offer, you’ll have the option of the traditional Gold option or the swanky Rose Gold version.
What happens if you don’t pay Amex Platinum in full?
Interest charges accrue when you don’t pay the bill off in full. Pay Over Time charges an interest rate that is the same across the Green, Gold and Platinum products. As of August 2020, cardholders who use the feature will pay an APR between 15.99% to 22.99%, depending on creditworthiness.
Is Amex Gold a top tier card?
The Amex Gold (now available in rose gold as well as the standard gold card design) has never fit well into the premium card category, nor does it truly belong in the entry or mid-level tiers.
Is it hard to get the Amex Gold card?
Yes, it is hard to get the American Express® Gold Card because it requires at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be very hard for you to get approved for the Amex Gold card.
Do you have to pay off Amex Gold every month?
You’re required to pay your bill in full every month. The card will be auto-enrolled with Pay Over Time, meaning cardholders can choose to pay their statement balances in full or carry a balance with interest on eligible charges, up to their Pay Over Time Limit.
Why is Amex more prestigious?
Re: Why are Amex charge cards more “prestigious” than their revolvers?? They are easier to get because people whom get them know they need to pay in full or default. As such most people make it a point to pay this before any other credit bill.
Why is American Express so special?
American Express is special because it is a luxury credit card brand, known for offering elite rewards and having exclusive approval requirements. American Express also is among the country’s largest credit card issuers by purchase volume, and it is one of the four major payment networks.
What kind of credit cards do millionaires use?
Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card, and The Platinum Card® from American Express. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.
What is special about American Express Gold Card?
The American Express® Gold Card offers an unprecedented four points per dollar at restaurants and on up to $25,000 spent each calendar year at U.S. supermarkets, making it among the best dining and grocery rewards cards.
Does Amex Gold increase credit score?
The lower your utilization, the higher your score. Charge cards, which include both the personal and business versions of the Amex Platinum Card, Amex Gold Card and Amex Green Card, don’t have a preset credit limit. Instead, your purchases are approved on a case-by-case basis based on your history with Amex.
How much do you need to spend to make Amex Gold worth it?
This requires more work and even more spending — approximately $6,250 to $25,000 in purchases is required to offset the annual fee, depending on the categories you spend in. The quickest way to recoup the Amex Gold’s annual fee is to spend a combined $6,250 at U.S. supermarkets and restaurants.
Is Amex Gold metal?
Yes, the Amex Gold card is a metal card. New Amex Gold card applicants don’t need to specify that they want a metal card, either – it’s standard. It’s worth noting that regardless of its name, the Amex Gold card is not made of gold. But it is worth quite a bit in ongoing rewards.
Is Amex platinum a status symbol?
To be blunt, The Platinum Card® from American Express is a status symbol for a well-heeled, jet-setting minority – and for those fortunate enough to have ample corporate spending accounts.
Is the platinum Amex metal?
The Platinum Card® from American Express is made from a combination of materials that includes stainless steel metal and has a heavier weight than the American Express® Gold Card, according to a company spokesperson.