Can you buy a house with Amex Platinum?

Absolutely not. Kipp says that this is one of the top misconceptions about the program. The only involvement from American Express is the bonus you get after closing; you aren't actually using your credit card to purchase the house, nor are you using it to pay any deposits, title costs or mortgage fees.

How rich do you have to be to have an American Express Platinum Card?

Salary Needed for Amex Platinum Credit Card

If you make near $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.

Can I use Amex to buy a house?

You can't buy a house using your credit card directly. You can buy a house with a credit card if you take a cash advance on a credit card and transfer those funds to a certified check.

Is Amex Platinum still prestigious?

The Platinum Card® from American Express is also among the most prestigious American Express cards. It offers new cardholders 80,000 points for spending $6,000 in the first 6 months. Plus, it makes for a great travel companion as it offers 1 - 5 points per $1 spent on purchases.

Can I use Amex to pay mortgage?

Visa and American Express don't currently allow mortgage payments through this service.

Does American Express Have Limits ? | Does AMEX Platinum Have A Limit

Can I put a car down payment on my Amex?

Cardholders of The Platinum Card® from American Express (another high credit limit 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.

Can I pay my car loan with American Express?

Most lenders don't accept credit cards for car payments. The rare lenders that do take credit cards may charge a fee for the transaction, increasing the overall cost of your loan payment.

Do rich people use Amex Platinum?

Is Amex Platinum for rich? On average, Amex Platinum and Amex Business Platinum cardholders tend to have high incomes. However, a high income is by no means a requirement. We recommend that your annual income be at least $50,000 or higher before applying for the Amex Platinum.

What is the richest American Express card?

What are the hardest Amex cards to get?

The hardest Amex card to get is the Centurion® Card from American Express. Also known as the “Black Card,” this Amex card is hard to get because it is available by invitation only, and potential candidates are rumored to need an annual income of at least $1 million.

Who has the highest credit card limit?

On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.

Has anyone bought a house with a credit card?

It's certainly possible to buy an inexpensive property with a credit card cash advance, but it's generally not the best way to do it. Here's why: It's expensive. Credit card cash advances often carry higher interest rates than regular purchases, so you may be paying a rate in the mid-20% range.

Why can't I use my credit card when buying a house?

Title companies, though, won't take your plastic either. They require certified funds, meaning you need a certified check from a bank. So how would you use a credit card to buy the house? You'd have to get a cash advance, then use that money to purchase a cashier's check.

Is platinum Amex better than gold?

Is Gold Card Higher Than Platinum? 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.

Why is Amex Platinum so popular?

The Platinum Card® from American Express is a high-end card that is packed with benefits and a hefty welcome offer. Cardholders can take advantage of numerous annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and much more.

What is the household income for Amex Platinum?

According to this, the average Departures reader (and therefore average Amex Platinum cardmember): Has a net worth of $4.3 million. Has a household income of $474,000.

What card do billionaires use?

The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.

What is higher than Amex Platinum?

The Centurion offers $1,000 yearly doled out as $250 quarterly, while the Platinum card offers $100 yearly given as $50 twice a year. Both cards offer a $189 annual CLEAR® credit, while the Amex Platinum also offers TSA PreCheck/Global Entry credits.

Is Amex Platinum 100k worth it?

100,000 points are worth $2,200 per our valuations, and you can use them in a variety of different ways. Think international business class, free domestic airfare, and stays in luxurious hotel suites.

Is Amex Platinum better than black?

Bottom Line: The Amex Platinum card has better earning potential than the Mastercard Black card. Membership Rewards points earned on the Amex Platinum card also offer greater potential value at redemption time when transferred to airline and hotel partners.

Is black or platinum Amex better?

The American Express Black Card is an exclusive charge card offered to high-net-worth individuals (HNWIs) by invitation only. The American Express Platinum Card is one tier lower. Prospective cardholders may apply online and must meet minimum eligibility requirements.

What is 200000 Amex points worth?

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.

Can you buy a Tesla with Amex?

You can't pay for a Tesla directly from a credit card. Their website only allows the deposit to be placed on a credit card. The main balance has to be financed or paid for with a check or a direct debit from your checking account.

What bank goes with American Express?

Several banks and credit unions offer American Express credit cards, including the U.S. Bank, USAA, Navy Federal and American Express itself, among others. However, third-party-issued Amex cards aren't all that common because American Express is both a card issuer and a card network.

Can I pay the IRS with American Express?

Unfortunately, the IRS has slightly raised card processing fees in 2021. The cheapest credit card processor is PayUSAtax, which works for personal and business taxes. They charge a 1.96% fee and allow payments with Visa, Mastercard, American Express and Discover.