No, you generally cannot buy a whole house with an Amex Platinum card, as mortgages are required for large property purchases, but you might use it for a small portion like closing costs or a deposit if the seller/service allows, though lenders frown upon new credit during mortgage applications. Credit cards aren't designed for massive transactions like home purchases, and using them could hurt your mortgage approval chances by showing increased debt, so focus on traditional loans and be cautious about adding new credit.
The biggest disadvantage of the American Express Platinum Card® is that it charges a high annual fee, at $895. Therefore, it's not a great option for people who use their card infrequently or are tight on money.
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.
earn a sufficient income of at least $50,000 per annum to pay outgoings and living expenses, in addition to Card repayments each month without experiencing financial hardship; • are willing and able to pay an annual fee of $1,450; • have current employment or access to other income or repayment sources; and • generally ...
The American Express Platinum Card® is one of the top premium travel cards available — and it's arguably the gold standard of its class. It comes with travel credits, hotel elite status, access to an impressive lounge collection, travel protections and other luxury perks.
The credit limit you can expect for a $75,000 salary across all your credit cards could be as much as $15000 to $22500, 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.
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.
The Amex 2/90 rule is a guideline limiting most people to approval for no more than two new American Express credit cards within a 90-day period, even if they meet other rules like waiting five days between applications (the 1-in-5 rule). This rule specifically applies to credit cards, not necessarily charge cards, and is a key factor in managing how many new Amex cards you can open and get welcome bonuses for.
More often than not, it's not a good idea to buy miles. If you spend more to purchase the miles than the miles are worth, you're losing money. If that's the case, there's no reason to purchase miles or attempt an award redemption — you should just pay cash for your ticket.
Centurion® Card from American Express
Why it's one of the hardest cards to get: The hardest card to get is the American Express Centurion Card, known simply as the “Black Card.” You need an invitation to get Amex Centurion, and only the super rich and famous can expect to get the call.
To pay your rent, you simply set up a free RewardPay account online then add your landlord's details, the amount to pay and your Amex card information. We process your card payment and pay your landlord via your choice of electronic funds transfer (EFT) or BPAY.
The Amex Platinum isn't impossible but is a premium card requiring good to excellent credit (690+ FICO) and strong income, with Amex also checking your income, debt, and history, meaning a high score alone doesn't guarantee approval, though it's harder than basic cards due to high annual fees and benefits requiring consistent payment ability.
The American Express Platinum Card® is for fairly rich people. A high income will help you afford this premium travel card's $895 annual fee.
Those benefits include: Airline incidental credits: The Amex Platinum and The Business Platinum Card® from American Express both offer up to $200 in airline incidental credits per year toward purchases like seat upgrades, checked baggage and in-flight wifi access.
That's because many merchants outside the U.S. don't accept Amex credit card payments. It's fairly common to swipe an Amex at U.S. merchants, so what's holding merchants in other countries back? One possible reason is the higher fees American Express charges merchants who accept the network's cards.
The best credit card that is rumored to have a $100,000 credit limit is the Chase Sapphire Preferred® Card. While Chase does not publicly disclose the highest credit line available for the card, there are online reports of people getting around $100,000 in spending power, or even more.
Canceling cards shortly after receiving the bonus: If you have a history of closing Amex cards soon after earning the welcome bonus, this behavior may trigger the pop-up.
With a $50,000 salary, you might expect an initial credit limit between $10,000 to $15,000, but it can range from ₹1 lakh to ₹1.5 lakhs (approx. $12,000-$18,000 USD) in some regions, with potential for much higher limits on premium cards depending on your strong credit score, low debt, and stable income history. Lenders look at factors like your credit score, debt-to-income ratio, and employment stability, not just income.
When redeemed for flights or hotels, the 1 million Amex Membership Rewards points I earned are worth at least $22,000. There are numerous ways to redeem Amex Membership Rewards points, including using them for gift cards or statement credits, shopping with points, and booking travel through AmexTravel.com.
The Business Platinum Card® from American Express offers a 150k points welcome bonus. More specifically, you can earn 1 200,000 points for spending $20,000 in eligible purchases within the first 3 months of getting approved for the American Express Business Platinum card.
Key Takeaways
The average credit card limit is $29,855, but it varies across generations. Your credit history, income, and fixed monthly payments may determine your credit limit. The best credit limit for you should help you cover your expenses without straining your income.
If you earn Rs. 20,000 per month, you can still qualify for a credit card by maintaining a decent credit score demonstrating good credit behavior.
Your income doesn't directly impact your credit score, though how much money you make affects your ability to pay off your loans and debts, which in turn affects your credit score. "Creditworthiness" is often shown through a credit score.