American Express (Amex) often seems "high" due to its premium brand positioning, significantly higher annual fees on popular cards like Platinum and Gold, higher merchant processing fees (which merchants pay), and a focus on affluent customers seeking luxury travel perks and rewards, all driving high revenue and perceived exclusivity, notes Bankrate.
Probably the biggest reason for this is because they have the highest merchant fees compared to the other types of credit cards. For that reason using an American Express card cuts deeper into the profit margins of the merchant you use it at. And, as you may imagine, merchants hate that.
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.
Gen Z likes Amex because it aligns with their experience-driven, value-savvy mindset, offering aspirational lifestyle perks (lounges, dining, events) through a seamless digital experience, treating annual fees like subscriptions and rewards as "life hacks" for travel and wish-list items, making the brand feel modern and accessible rather than elitist.
Hardest Card to Get Overall
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.
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.
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.
Annual Fee and Terms apply. 18+, subject to status. Minimum income £35,000.
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.
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.
Transferring 30,000 points to our loyalty partners gives you between £300 and £900.
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.
The American Express® Gold Card is a status symbol because of its high-end benefits, its hefty annual fee, and its prestige as a metal Amex card. The Amex Gold Card is geared toward high-income individuals with at least good credit.
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.
If you're having difficulty paying your annual fee due to unforeseen financial difficulties, apply for the financial relief program online or call Amex at (866) 703-4169. You could potentially have your annual fee waived, or you might receive other assistance such as lower monthly payments or lower interest rates.
1 As one of the biggest credit card companies in the world, American Express generates revenue from transactions occurring at partner merchants, as well as through annual membership fees and interest income.
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.
This means that with careful planning and some savvy moves, those 45 million points could translate into around $900,000 in travel experiences! Imagine jetting off first class around the world or enjoying luxurious hotel stays—all made possible by those little numbers accumulating in your account.
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.
Getting an American Express (Amex) card can range from easy to difficult, depending on the specific card and your financial profile; most top Amex cards require good to excellent credit, a stable income, and a good credit history, making them harder for those with bad or no credit, but simpler for established users with strong finances, with some starter cards available for those with average credit.
With American Express personal card applications, a hard check only occurs after you've submitted your application, not during the application process itself. These happen when you check your own credit report or when a business checks it without you requesting credit. A soft check has no impact on your credit score.
Amex 2-in-90 rule
American Express restricts card approvals to no more than two within 90 days. This means that even if you follow the 1-in-5 rule above and get two cards more than five days apart, you still can only get those two cards within 90 days. So far, there are no exceptions to the Amex 2-in-90 rule.
Easiest American Express Cards to Get
Discover all the benefits, rewards, and offers that come with the American Express® Gold Rewards Card. Your Basic American Express Gold Rewards Card is made from precision cut and engraved 13g Stainless Steel Metal, available in Gold or Rose Gold — it's the perfect companion on your next exceptional journey.