@tntexans72 wrote:1. Backdating - invaluable
2. CLI without hard pull
3. Generous CLI after usaged
4. Customer Service
5. Accepted all over the world
6. Great rewards on their revolving CCs
7. Product Change without hassels
8. Just think it's a must have card in everyone's credit card portfolio
1. It is, but I wonder if this will ever cease since they aren't technically reporting accurate info.
2. Citi and others do this time.
3. Depends on credit
4. Chase does too, among others.
5. Visa/MasterCard accepted at even MORE places.
6. Many CCs do too.
7. Chase, Citi, BofA and Discover allow it too, etc.
8. Opinion, it's good but not a must have.
I think the status symbol and prestige is eliminated when you hear of people with a 600 FICO getting approved for a $500 limit with mandatory auto-pay. IMHO it used to mean something but now AmEx (along with everyone else) seems to approve nearly anyone without baddies. It just isn't as special as many make it out to be and for the record, I have The Platinum Card and a revolving account.
An Amex lets you feel rich. 
Before American Express diluted the brand name, with a gajillion products, their charge card said "I've arrived and can actually afford this purchase!". Now it just means you have a good credit score and are willing to pay the fees. In the past it was perceived more as a sign of above average income, not credit. Now people with no money but great credit can get a taste how the better off are treated, for an annual fee, It's essentially a way to buy status for some.
They definitely have great benefits and top notch customer service.
Starting Score: 675tntexans72 wrote:
You are right but these banks have to make $$ and to do that, they have to offer cards for different class level imho. The same standard that is use by Amex to approved a Zync applicant is not the same with the Platinum card and vice versa. Same with Chase, their cream of the crops cards right now are the Sapphire & Preferred vs. Freedom Signature and Freedom Platinum. But I can understand ppl who has the Zync card will maybe one day want a Gold or a Platinum etc.......or maybe they are just happy with the Zync card and stick with it.
But when I see a customer who pulls out a Platinum card, I know that person is doing well........YMMV.
Exactly but then American Express isn't a status symbol, rather select American Express card products are. Which is the same with nearly every lender that issues card products to people with basic good credit and exceptional world-class credit.
