topic Re: AMEX PLATINUM ! in General Credit Topics

AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 02:52:31 GMT

My goal growing up has always been to get a AMEX PLATINUM card.. I dont know why, but it has.

I have a faily memebr out west who has the AMEX Centurion card and AMEX PLAT. Years back he spent a day telling me about its benefits, and since young its never left my thoughts.

Can anyone tell me what are the certain qualifications to getting the AMEX Platinum? I dont like applying for card im not certain ill get it.

Thanks

Re: AMEX PLATINUM !

SBR249 — Fri, 12 Jan 2018 03:06:36 GMT

I'm by no means an insider with knowledge of AmEx's underwriting standards but from what I have seen, scores of at least 680+, verifiable income, and an established relationship with AmEx. Plat is by no means a starter card for AmEx but I find that its underwriting standards is not much more stringent compared to their other cards like the BCP/BCE, Gold, etc. Once you have a card with them for a bit, they will basically throw the plat at you at some point as long as you maintain a good profile.

As a semi-DP, I started out with AmEx 10 years ago with an Optima Plat (now ED), I recently got a BCE. Over the past few years I've gotten prequal mailers for the Plat, then the PRG, more recently the Delta Gold, and just a few days ago, the Plat again. I cold apped for thr BCE without a pre-qual 2 months ago, but AmEx has been trying to get me to sign up for an AF card forever now.

If you are really curious and don't currently have an AmEx card, you can try their pre-qual website to check, but I'd say a more sure route is to app for something like BCE/BCP or ED/EDP (assuming you credit profile supports that) and app for plat in 6mo to a year.

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 03:12:21 GMT

Thanks for the response sir! i do not have any AMEX's yet. Should i go for their simplest card first ?

my scores are improving. I have a TU of 722 and a Exp of 666

@SBR249 wrote:
I'm by no means an insider with knowledge of AmEx's underwriting standards but from what I have seen, scores of at least 680+, verifiable income, and an established relationship with AmEx. Plat is by no means a starter card for AmEx but I find that its underwriting standards is not much more stringent compared to their other cards like the BCP/BCE, Gold, etc. Once you have a card with them for a bit, they will basically throw the plat at you at some point as long as you maintain a good profile.

Re: AMEX PLATINUM !

SBR249 — Fri, 12 Jan 2018 03:25:40 GMT

Assuming you have decent credit and income, I'd say pick whatever interests you from AmEx's offers as long as it's not a "super premium" card. The rule of thumb I go for is uner $200 AF. I find that if underwriting standards for those cards tend to be interchangeable so whichever rewards program or sign up bonus interests you the most.

One thing to remember is that AmEx sign up bonuses are only given once in a lifetime I think, so maybe do some googling and see how current offers stack up to historical offers. Try switching browsers and using incognito mode. When I was applying for the BCE, using safari in incognito mode got me a $200 bonus for $1000 spend in 3 months versus the $150 for the same spend I found on chrome or when logged in.

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 03:31:26 GMT

Go to Amex's prequalify site and see if you have any pre-approvals. The qualifications for all the Charge cards are supposed to be the same so if you see an offer for the Green card or the PRG you should be good to go for the Platinum as well. Also the Ameriprise version of the Platinum card has no fee the first year.

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 03:38:33 GMT

Oh mann THANK YOU SO MUCH !! i went on the pre qual site and BAM !!

"Good News, LUKEIRONWALL.

You are successfully Pre-Qualified for the following Card offers, exclusively available on americanexpress.com."

amex Everyday Card

Blue Cash Everyday

Amex Green

What yall think ??

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 13:18:50 GMT

Never snag a card just because you have an emotional attachment to having it. Snag a card because it makes financial sense for your organic spending.

Amex Platinum is great for people who fly enough to earn the 5% rewards but there are MANY travel cards with lower annual fees that might work better for some, worse for others.

I just got Amex BCP (first card with Amex in maybe 15 years or more!) because the 6% supermarkets works for me to offset the $95 annual fee and then some versus a 3% grocery card or a 2% general spend card.

But you have to do the math.

Re: AMEX PLATINUM !

Kree — Fri, 12 Jan 2018 14:01:46 GMT

I personally support the "gotta catch them all" idea to collecting credit cards. They say 5 cards is the minimum ideal for top scores (although you can get 850 with 3 cards I think). So why not a visa a mc a discover and a amex to get things started?

Follow your dreams. Get an AMEX.

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 14:12:52 GMT

haha Amen! i'm not sure if youre being for real or just being sarcastic, but i like the attitude.

@Kree wrote:
I personally support the "gotta catch them all" idea to collecting credit cards. They say 5 cards is the minimum ideal for top scores (although you can get 850 with 3 cards I think). So why not a visa a mc a discover and a amex to get things started?

Follow your dreams. Get an AMEX.

Re: AMEX PLATINUM !

Kree — Fri, 12 Jan 2018 14:48:09 GMT

@Anonymous wrote:
haha Amen! i'm not sure if youre being for real or just being sarcastic, but i like the attitude.
@Kree wrote:
I personally support the "gotta catch them all" idea to collecting credit cards. They say 5 cards is the minimum ideal for top scores (although you can get 850 with 3 cards I think). So why not a visa a mc a discover and a amex to get things started?

Follow your dreams. Get an AMEX.

100% for reals. I spent years with 2 cards, before I got into this credit game. Can't believe what I left on the table. Just opened up a Visa, and AMEX is on the table for 2018. Thinking of grabbing my 5th card at the same time, but really want an United Club card, but can't decide if I can actually afford it with the amount of traveling I do.

Re: AMEX PLATINUM !

RicHowe — Fri, 12 Jan 2018 15:04:47 GMT

Remember. AMEX Platinum has a $550 annual fee, billed in the first statement. The perks are great - it's my daily driver card. Also use it for travel and transfer points to my airline/hotel partners.

If you are pre-qualified for Green or PRG and your score is good. You are in like flynn. What is your Experian Fico8?

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 15:07:19 GMT

@RicHowe wrote:
What is your Experian Fico?

My EXP is my lowest 670

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 15:11:04 GMT

@Anonymous wrote:
@RicHowe wrote:
What is your Experian Fico?

My EXP is my lowest 670

That's on the low end for Amex but they do approve it. What's holding you back? Are you reporting balances on any of your credit cards and how much of a balance/credit limit on those cards?

Re: AMEX PLATINUM !

RicHowe — Fri, 12 Jan 2018 15:12:26 GMT

@Anonymous wrote:
@RicHowe wrote:
What is your Experian Fico?

My EXP is my lowest 670

The average applicant has a score of 715. Although, some applicants have been approved with a credit score as low as 643. If you've been pre-qualified for Green card, the underwriting for the Platinum is virtually the same.

Do you have a bunch of recent inquiries?

AMEX is not averse to young credit (thin file) so there should be no issues there.

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 15:44:28 GMT

@Anonymous wrote:
What's holding you back? Are you reporting balances on any of your credit cards and how much of a balance/credit limit on those cards?

My credit was REALLLLLLY crappy about a year ago, I defaulted on a capital one card when I was 18 ..

so as of recent i started desperately rebuilding my credit by paying the piper, getting credit card to increase my credit line and number of open accounts.

I have 8 credit cards. (including my new AMEX GREEN i literally just got YAY !)

A couple of them are going very soon tho!!

I have secure credit card from Bank Of america $0 balance.. probably used it twice 1 year

I have 5 extremly crappy cards Credit One, another Credit one, Merrick Bank, Premier *vomit*, Indigo *vomits more* (all $0 balance)

then i have My DIscover It card $1000 balance (transffered from a Credit on card) and i have a Fidelity Visa Signature (few hundred balance .. getting paid off next month)

The credit one is my oldest account so I'm sorta scared about closing it.. in a few months I want to close some of the above cards, definitely the really **bleep** ones but maybe not the oldest Credit One.

Needles to say I've been paying to increase my credit for quite some time, so an AF on the AMEX Green Card of 95$ in year 2, provided I don't upgrade it (or close it) isn't a big deal to me.

Re: AMEX PLATINUM !

RicHowe — Fri, 12 Jan 2018 15:44:04 GMT

I would NOT product change from Green to the AMEX Platinum, as you will not get the sign-up bonus. Do I understand that you went ahead and app'd for the Green card and was approved? If so, congratulations! You would have qualified for the Platinum, but the hefty $550 fee is certainly a factor.

At least you know you can get the Platinum any time you want in the future (when the fee makes sense).

Use your Green card and PIF every month.

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 15:51:26 GMT

@RicHowe wrote:
I would NOT product change from Green to the AMEX Platinum, as you will not get the sign-up bonus. Do I understand that you went ahead and app'd for the Green card and was approved? If so, congratulations! You would have qualified for the Platinum, but the hefty $550 fee is certainly a factor.

Wait .. WUUUUT!? I would've gotten approved for the platinum?? :'(

SHOOT wish I knew that!

The fee does make sense for me and my girl.

I was hoping they would target me with the 100k offer after a few months of AMEX Green Card.

If I upgrade the AMEX Green it would be to PGR then PLAT (of course, ONLY after I get the Platinum by itself)

Re: AMEX PLATINUM !

RicHowe — Fri, 12 Jan 2018 15:53:56 GMT

No worries!

You are in the AMEX clubhouse now! Congratulations!

App for the Platinum in June/July if all things stay the same financially.

Re: AMEX PLATINUM !

Anonymous — Fri, 12 Jan 2018 16:05:32 GMT

@RicHowe wrote:
You are in the AMEX clubhouse now! Congratulations!

THANKS BUD! I appreciate all the positive thought and the good tips.

Re: AMEX PLATINUM !

pipeguy — Fri, 12 Jan 2018 18:18:46 GMT

@Kree wrote:
I personally support the "gotta catch them all" idea to collecting credit cards. They say 5 cards is the minimum ideal for top scores (although you can get 850 with 3 cards I think). So why not a visa a mc a discover and a amex to get things started?

Follow your dreams. Get an AMEX.

IMO $550 a year (year after year) for a "Platinum" where you can't recover at least that amount in real benefits (so-called prestige is NOT a benefit) is a foolish move. If you are just in the mood for an AmEx there are no AF cards and "AmEx Network" logo'd cards that fit that picture.