@Anonymous wrote:Is it proven that all charge cards have the same requirements to get? I always wondered that, I mean I feel there's gotta be a ranking on their charge cards lol. I just can't see someone with a lower score who's able to get say a green card actually get a platinum just because they can pay the annual fee. But who knows maybe that is how it works.
The difference in the Green, PRG/Gold, and Platinum isn't in the spending ability, it's the additional perks and benefits that come with the card. It's well-known that Warren Buffet carries a Green card, for example.
That being said, the PRG and Platinum have benefits that are generally most useful to people who travel often, and people who can afford to travel often many times will have a higher income than average, so they may have a higher spending ability in general, but not because of the color of their card.
There are posters here who are quite young and with a thin profile who have had no problem getting approved for an Amex Platinum, and if their travel needs call for its benefits it can be a wise choice in spite of the high annual fee. Warren Buffet is a billionaire, but has no needs for the perks of a Platinum card (although he can obviously afford it) so he chose to get a Green card.
It's all about the benefits you need. 
@Anonymous wrote:Is it proven that all charge cards have the same requirements to get? I always wondered that, I mean I feel there's gotta be a ranking on their charge cards lol. I just can't see someone with a lower score who's able to get say a green card actually get a platinum just because they can pay the annual fee. But who knows maybe that is how it works.
Put yourself in the managers chair at AMEX, and ask, "Would I care whether this applicant with a 650 EX gets the Green, PRG, or Platinum Charge card?"
None of the cards comes with a specific credit limit.
All of these cards have charges scrutinized by the AMEX transaction algorithm, which has a profile setup for each cardholder. That algorithm can decide to decline a charge, for example if a cardholder with a 650 EX has their Platinum card for a week and has run up $2,000 in charges (after paying the $450 AF).
Each of the cards requires payment in full within a short time after the statement prints, and so the algorithm has a quick feedback on whether this cardholder is paying their bill or not, and can react accordingly going forward.
When a card is issued as a revolving credit line, that states a specific credit limit, which might be low, and APR which can be high, both of which attributes can discourage a cardholder.
What we don't hear often from low-score, new Platinum cardholders is, the Pay Over Time limit, which likely is quite low initially.
But really, that $450 fee is something of a reward for AMEX. It's an incentive to go ahead and issue the card.
@Anonymous wrote:Thanks for the clear up that does make sense. Is it also true the charge cards are easier to get than their credit cards? What's funny is people who don't know better always think the charge card is prestige. Maybe it's the way it looks.
The reason that Charge Cards have easier underwriting is because they have to be paid in full each month, if you don't pay your card can be cancelled or frozen until paid. There is no open CL on the account like credit cards. If you have the Pay Over Time (POT) option that has a certain criteria and isn't offered to everyone.
Amex plat has great travel benefits and perks and that is the only reason I have it. EDP gets all the swipes.
Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
@NRB525 wrote:
@Anonymous wrote:Is it proven that all charge cards have the same requirements to get? I always wondered that, I mean I feel there's gotta be a ranking on their charge cards lol. I just can't see someone with a lower score who's able to get say a green card actually get a platinum just because they can pay the annual fee. But who knows maybe that is how it works.
Put yourself in the managers chair at AMEX, and ask, "Would I care whether this applicant with a 650 EX gets the Green, PRG, or Platinum Charge card?"
None of the cards comes with a specific credit limit.
All of these cards have charges scrutinized by the AMEX transaction algorithm, which has a profile setup for each cardholder. That algorithm can decide to decline a charge, for example if a cardholder with a 650 EX has their Platinum card for a week and has run up $2,000 in charges (after paying the $450 AF).
Each of the cards requires payment in full within a short time after the statement prints, and so the algorithm has a quick feedback on whether this cardholder is paying their bill or not, and can react accordingly going forward.
When a card is issued as a revolving credit line, that states a specific credit limit, which might be low, and APR which can be high, both of which attributes can discourage a cardholder.
What we don't hear often from low-score, new Platinum cardholders is, the Pay Over Time limit, which likely is quite low initially.
But really, that $450 fee is something of a reward for AMEX. It's an incentive to go ahead and issue the card.
The reason you don't hear low-score Plat POT is because they aren't offered it.
@UncleB wrote:
@Anonymous wrote:Is it proven that all charge cards have the same requirements to get? I always wondered that, I mean I feel there's gotta be a ranking on their charge cards lol. I just can't see someone with a lower score who's able to get say a green card actually get a platinum just because they can pay the annual fee. But who knows maybe that is how it works.
The difference in the Green, PRG/Gold, and Platinum isn't in the spending ability, it's the additional perks and benefits that come with the card. It's well-known that Warren Buffet carries a Green card, for example.
That being said, the PRG and Platinum have benefits that are generally most useful to people who travel often, and people who can afford to travel often many times will have a higher income than average, so they may have a higher spending ability in general, but not because of the color of their card.
There are posters here who are quite young and with a thin profile who have had no problem getting approved for an Amex Platinum, and if their travel needs call for its benefits it can be a wise choice in spite of the high annual fee. Warren Buffet is a billionaire, but has no needs for the perks of a Platinum card (although he can obviously afford it) so he chose to get a Green card.
It's all about the benefits you need.
It's just a status thing to carry around a Green card bc u obviously dont care about MRs since it only pays 1x pts on purchases.
It is nice having a charge card tho not having to worry about the limit.