An Amex card can be worth it if you use its premium travel, dining, and lifestyle benefits (like lounge access, credits, and points) enough to offset the high annual fee, especially for frequent travelers who can leverage perks like Centurion Lounge access, Global Dining Credits, and airline points transfers to Qantas/Velocity; otherwise, basic or less-premium cards might offer better value if you don't travel often or use these specific perks, as the card acts like a "coupon book" for those who don't utilize all its features.
Whether an American Express card is worth getting depends on your spending habits and financial situation. American Express cards often come with significant rewards, including travel perks, cashback, and shopping protections, which can outweigh the annual fee for frequent users.
Yes, American Express (Amex) is good in Australia for rewards and benefits, with acceptance at most major retailers (like Woolworths, Coles, Bunnings) but less universal than Visa/Mastercard, especially at smaller businesses or some supermarkets like Aldi, due to higher merchant fees; having a backup Visa or Mastercard is recommended. It's great for point-earners seeking travel perks, lounge access, and high earn rates, but users should be aware of potential surcharges at some places and limited acceptance at certain spots.
Amex minimum income requirements vary significantly by card and country, but generally range from around $45,000-$50,000 for some standard rewards cards (like the Explorer card in Australia) up to higher amounts like $65,000 for premium cards (Qantas Ultimate), or even business revenue requirements (e.g., $75,000 for Business Platinum). Some Amex cards, particularly in markets like Canada, surprisingly have no stated minimum income.
The main cons of American Express (Amex) include limited merchant acceptance (due to higher fees for businesses), high annual fees on premium cards, and strict credit requirements, often needing good to excellent credit; plus, some traditional Amex cards are charge cards requiring full monthly payment, unlike typical credit cards, and points transfers can sometimes be slow, notes Investopedia, Finder.com.au, Credit Suite, Bankrate, Point Hacks, Half Past First Cast, and YouTube}.
Historically, American Express charged higher fees than their competitors, making their cards less attractive to merchants. Merchant funding was also a slow process.
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.
100,000 American Express Membership Rewards points are generally worth $1,000 to $2,000 or more, depending on redemption; you get about 1 cent per point ($1,000 total) using the travel portal or gift cards, but can achieve 2 cents per point or higher ($2,000+) by transferring to airline/hotel partners for premium flights, yielding significantly more value, according to Bankrate and WalletHub and The Points Guy.
The American Express annual fee is $0 to $5,000, depending on the card. For comparison, the average annual fee among credit card offers on the market right now is $26.75.
18+, subject to status. Minimum income £35,000.
You can pay for your online order with Visa, Mastercard or American Express credit or debit cards, or use Coles Pay or PayPal.
The 2-2-2 credit rule is a guideline lenders use to assess a borrower's creditworthiness, requiring two active revolving credit accounts, open for at least two years, with a history of on-time payments for those two consecutive years, often with a minimum limit of $2,000 per account, to show financial stability for larger loans like mortgages. It demonstrates you can handle multiple credit lines responsibly, not just have a good score, building lender confidence.
Yes, American Express cards often carry higher annual fees and interest rates compared to standard Visa or Mastercard offerings, but for some cardholders, the travel benefits, gift card redemptions, and access to reward cards with premium features might be worth it.
Many credit cards allow you to earn rewards with every purchase made on your card. With an American Express® Rewards Card, these rewards could be cashback, air miles or rewards points, which you can spend on retail and travel treats as well as other special experiences.
Transferring 30,000 points to our loyalty partners gives you between £300 and £900.
Yes, you will be charged a fixed monthly plan fee on each instalment plan.
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.
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.
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.
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.
Membership Rewards® points have no expiration date.
The 2/3/4 Rule is an informal guideline, primarily used by Bank of America, that limits how many new credit cards you can be approved for: two in a two-month (or 30-day) period, three in a 12-month period, and four in a 24-month period, helping lenders manage risk from frequent applications and "churning" for bonuses. It's a rule for applicants, not a limit on how many cards you should have, but a strategy for managing applications to avoid automatic denials.
If you're just starting out, a good credit limit for your first card might be around $1,000. If you have built up a solid credit history, a steady income and a good credit score, your credit limit may increase to $5,000 or $10,000 or more — plenty of credit to ensure you can purchase big ticket items.
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.