How rich do you have to be to have a 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.

How much income do you need for a platinum card?

What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.

Is Platinum card for rich?

The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. In the right hands, the classic status card's staggering annual fee is well justified.

Are Amex Platinum card holders rich?

No,. American Express is not specifically for rich people, even though it does have a high level of status in many people's minds. Applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards, and you don't need to be rich to have a good credit score.

Who is eligible for platinum credit card?

Eligibility for Platinum Credit Card

Primary cardholder between the age of 18 and 70 years. Add-on cardholder should be over 15 years. Resident of India or Non-Resident Indian.

How Rich People Use Credit Cards

How can I get a credit card with 10000 salary?

If you don't qualify for a credit card, you can opt for a secured deposit credit card, where you deposit money as fixed deposit and can get a card that is linked to that deposit. There are a few credit cards provided by Canara Bank and Bank of India that provide credit cards to people who have a salary of Rs. 10,000.

What's the limit on a platinum Amex?

American Express Platinum has no preset credit limit. That means the amount you can spend may change from month to month based on your usage of the card, credit history, income and more.

Is Amex Platinum better than black?

The Black Card is an exclusive charge card offered to high-net-worth individuals by invitation only. The Platinum Card is one tier lower. Prospective cardholders may apply online and must meet minimum eligibility requirements. Besides the Black and Platinum Cards, American Express offers a line of 17 other cards.

How hard is it to get an Amex Platinum?

Getting approved for the American Express Platinum is like any new credit card application. You have better chances with a credit score above 700, a clean credit history, and a low debt-to-income ratio. If you think you might have to work on these factors, take the time to improve your credit to enjoy the benefits.

What card do millionaires use?

Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card, and The Platinum Card® from American Express. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.

What card do rich people carry?

1. American Express Centurion Card. The American Express Centurion Card is the most exclusive credit card in the world and commonly known as the “Amex Black Card.” Launched in 1999, American Express has kept it in a shroud of uncertainty, giving it a very high level of status in the minds of consumers.

Who qualifies for a black card?

Although Amex doesn't publish requirements for the card—or its perks, for that matter—it typically extends black card invitations only to high earners who have spent and paid off between $350,000 and $500,000 across all of their American Express accounts in a calendar year.

How many platinum card holders are there?

Here's the stats on what is known. Circulation figures for 2017 suggest that outside the U.S., there are about 400,000 Platinum Cards, and 84,000 Centurion Cards. In the United States, TimeInc reports that American Express Platinum Card and Centurion membership has increased 23% since 2010.

What is the highest American Express card?

The highest level American Express card is the Centurion card, which is also known as the 'black card.

What color is the highest credit card?

The highest credit card color is black, in large part because of the ultra-exclusive Centurion® Card from American Express, which is also known as the “Black Card” due to its color.

Is Platinum American Express worth it?

Is the Amex Platinum worth it? The American Express Platinum Card, known for its prestigious benefits and sleek appearance, is a card worth bragging about. Between the numerous travel benefits, reputable concierge service and consumer protections, the card is worth considering if you can stomach the steep annual fee.

Does Amex ask for proof of income?

No, American Express does not verify income on most credit card applications or credit line increase requests. Amex will generally require income verification only if something seems out of the ordinary, such as a 21-year-old claiming to have an annual income of $150,000.

What is the limit of a black card?

There's no credit limit

The American Express Black Card doesn't have a pre-set spending limit, so cardholders can spend as much as they want every month. But that's only the case if they can afford it. The Centurion® Card from American Express is a charge card, so cardholders can't carry a balance.

How do you get a black Amex card?

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.

Can I get credit card with 15k salary?

Banks do provide credit cards for low salaried (Rs 8,000- Rs 15,000) depending on the annual income. Eligibility on the card will be 3 times of the monthly salary.

What salary is good for credit card?

Salary is a crucial deciding factor for credit cards. Someone earning say Rs 50,000 per month is eligible for a different type of card than a person earning Rs 25,000 per month. On an average, income requirement is between Rs 1,44,000 and Rs 25,00,000 per annum for both salaried persons and self-employed.