Unlike some of the other cards on this list, The Platinum Card® from American Express is an elite card, but it's not invite-only. This accessible card is one of the best credit cards for millionaires.
Salary Needed for Amex Platinum Credit Card
If you make nearly $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.
The American Express Centurion Card, colloquially known as the Black Card, is a charge card issued by American Express. It is reserved for the company's wealthiest clients who meet certain net worth, credit quality, and spending requirements on its gateway card, the Platinum Card.
American Express doesn't have an official income requirement for The Platinum Card, but the issuer will need to see that you'll earn enough to pay off your card each month. You should also be comfortable spending heavily on airline and hotel travel throughout the year if you want to earn decent rewards.
The Platinum Card® from American Express requires good to excellent credit to qualify. This is typically defined as a credit score of 690 or better.
Yes, the American Express Platinum card is considered a status symbol because of its exclusive benefits, high annual fee, and reputation as a premium metal credit card. The American Express Platinum card caters to high-spenders who travel frequently and want a wide range of luxury travel perks and lifestyle benefits.
Yes, it is hard to get the American Express Platinum card because applicants need a 700+ credit score and a high income to qualify for approval. But if you have at least good credit and make a lot of money, you have a decent shot at getting approved.
Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.
Amex Platinum Credit Card Charge, Minimum Income
As mentioned, the Amex Platinum Credit Card is not your beginner-friendly credit card. One, the annual income requirement for the Amex Platinum Credit Card is $80,000 which is higher than the usual $30,000 for entry-level credit cards.
Centurion® Card from American Express
Why It's One of the Most Exclusive Credit Cards: The most exclusive, prestigious credit card is without a doubt the American Express Centurion Card, otherwise known as the Amex Black Card.
What is the highest salary in American Express? The highest-paying job at American Express is a Vice President (VP) with a salary of ₹90.7 Lakhs per year. The top 10% of employees earn more than ₹25 lakhs per year. The top 1% earn more than a whopping ₹75 lakhs per year.
They will request tax returns and bank statements. What they're looking for is to make sure the income you reported on the application is true. The process typically takes 2-3 weeks, and you're assigned a specialist to talk to.
What Credit Card Do the Super Rich Use? The super rich use a variety of different credit cards, many of which have strict requirements to obtain, such as invitation only or a high minimum net worth. Such cards include the American Express Centurion (Black Card) and the JP Morgan Chase Reserve.
If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise.
The Platinum Card® from American Express is one of the top premium travel cards available. It comes with travel credits, hotel elite status, access to an impressive lounge collection, travel protections and other luxury perks.
Not only do you get access to Priority Pass lounges that many other premium credit cards offer, but you also get access to swanky Amex Centurion Lounges, International Centurion Lounges, Escape Lounges – The Centurion Studio Partner, Plaza Premium Lounges, Airspace Lounge, select Virgin Clubhouses, select Lufthansa ...
Annual income of $100,000 or more. Aged 18 years or over. Australian citizen, permanent resident or holding long term visa (long term means 12 months or over and does not include a student visa).
How much do you have to make to get Amex's black card? There aren't any income requirements per se, but you most likely need to be a high spender on your Amex cards. If you're in the ballpark of $250,000 to $500,000 in annual spending across all your open Amex cards, you may qualify for the Centurion card.
The average spender* will earn about $417 in yearly rewards value, but it only takes spending at least $521 across your two 4X categories (restaurants and U.S. supermarkets) to break even on the annual fee if you redeem your points toward Amex air travel.
Millionaires tend to turn to private banks for a variety of reasons. Since they offer a wide range of financial products, services, and expertise under one roof, the element of convenience can be very enticing. There are also several perks and more favorable options and rates, making the bank very attractive.
The rarest credit card in the world is likely the Centurion® Card from American Express, also known as the “Black Card.” This card is available by invitation only, and you will reportedly need to spend at least $250,000 per year on other Amex credit cards and have an income of $1 million+ to get it.
Some providers may choose to use a hierarchy of colours with credit cards, such as (in descending order based on benefits and, potentially, cost): titanium, diamond, black. platinum. gold or silver.
Amex Platinum ultimately offers more value, though. For example, its benefits include airport lounge access, while the Amex Gold Card's perks do not. When it comes to ongoing rewards on purchases, Amex Platinum has a higher maximum earning rate and better travel rewards. But Amex Gold provides more everyday value.
The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees. Amex cards are targeted toward people with good credit and high incomes who are likely to charge large amounts to their cards every month.
Both Amex Gold and Platinum offer a range of benefits, with the Gold card catering more to everyday spending and the Platinum card designed more for travelers. The Platinum card has more benefits, but it's annual $695 fee is higher than the Gold card's $250 fee.