Amex Platinum vs. other approvals

[Anonymous]

Hello MyFico-er's

So i'm posing this question to anyone who may have insight or the same curiousity i do..  Do you think have an Amex Platinum got you better approvals for other cards?   I know there is no official DP's on this, and everyones profile is different, but i have seen some approvals with average scores and income get very large approvals and they have the Platinum in the siggy.   

Do you think it helps having it? 

[pipeguy]

In my opinion and experience, and I should note I am NOT a fan of Amex (long story), today I would say no because today just about anyone with a pulse and high 600 FICO scores willing to pay the $550 AF will be approved for the "Platinum". Years ago, yeah a long time ago in the 1990's when I carried an AmEx Platinum and an Optima Platinum for business you had to be invited to apply and be upgraded from the Gold Card (Platinum was a $300 AF) and at that time it was a fairly exclusive card - one that got looks and nods at hotels, restaurants and especially overseas. The Platinum Optima was added a couple of years later after showing some experience with the Platinum charge card (the Optima had a revolving credit line, I think mine was $40k).

I paid all my own expenses when I owned my business (17+ years) and spent 40% of my time in the air and in hotel rooms, at that time it was worth the AF and I also carried a Diners Club (original travel version). I was also spending $300k to $400k a year on those two cards, mostly the AmEx cards. Did it help me get other cards? I can't really say but most of the 12 or so V/MC cards I carried had $20k+ limits and that was 25-28 years ago, so probably it helped. 

Add: I should note that at that time (1990's) there were not 31 flavors of AmEx and no co-branded AmEx network cards, just the Green, Gold, then Platinum and they added "Optima" as a credit card. I can't say as to the Centurion I was never in that league.  

[FinStar]

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@Anonymous wrote:

Hello MyFico-er's

So i'm posing this question to anyone who may have insight or the same curiousity i do..  Do you think have an Amex Platinum got you better approvals for other cards?   I know there is no official DP's on this, and everyones profile is different, but i have seen some approvals with average scores and income get very large approvals and they have the Platinum in the siggy.   

Do you think it helps having it? 

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Not IME.  I've had several other AMEX charge/credit cards and even before having them did not provide a "ladder" for better SLs or other bank's CCs. 

An item to keep in mind, the CRAs make no differentiation of which AMEX product you have to act as some sort of "prybar."   Sure, the credit mix is important as to an individual's profile, but for folks who've never carried an AMEX card in their life certainly didn't prevent them from obtaining better approvals or premium products.

I currently don't have the AMEX Platinum (waiting for the 100K MR offer) and it certainly hasn't prevented me from having CLs on individual cards above $100K.  As a DP, even when I had an Optima TG or PRG it made no difference in getting approvals even with banks such as BMO Harris, PenFed, WF, Citi or even Chase (and its predecessors). 

[Remedios]

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@Anonymous wrote:

Hello MyFico-er's

So i'm posing this question to anyone who may have insight or the same curiousity i do..  Do you think have an Amex Platinum got you better approvals for other cards?   I know there is no official DP's on this, and everyones profile is different, but i have seen some approvals with average scores and income get very large approvals and they have the Platinum in the siggy.   

Do you think it helps having it? 

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I fail to see causality there. I doubt computer is as easily impressed by the type of card as some humans are. 

[Anonymous]

Thank you 3 for adding in.   Hopefully we can get as many as possible so we have a solid DP for this. 

This post is mostly for gathering DP's so as to help others who may have this idea/notion as well.  I dont have Plat, and i have some 5 figure CL's as well.  

[Anonymous]

I think it makes zero difference.  I don't have one and never have any intentions of getting one because it doesn't fit my personal lifestyle and I can't justify the AF.  All I care about are usable credit lines on any card that don't kill my UTI if I let the balances report.  The lack of having the Platinum hasn't stopped me from achieving what I believe are nice approvals that fit my needs.  

[Anonymous]

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@Anonymous wrote:

I think it makes zero difference.  I don't have one and never have any intentions of getting one because it doesn't fit my personal lifestyle and I can't justify the AF.  All I care about are usable credit lines on any card that don't kill my UTI if I let the balances report.  The lack of having the Platinum hasn't stopped me from achieving what I believe are nice approvals that fit my needs.  

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Thank you for adding to the DP's 

[Anonymous]

I’m not sure how lenders would even know if an applicant had a Platinum card. On all of my credit reports, it’s simply listed as American Express - Charge Card or Credit Card. There’s no distinction about product type.

[Anonymous]

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@Anonymous wrote:
I’m not sure how lenders would even know if an applicant had a Platinum card. On all of my credit reports, it’s simply listed as American Express - Charge Card or Credit Card. There’s no distinction about product type.

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Very true.  Thank for that DP. 

[pipeguy]

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@Anonymous wrote:
I’m not sure how lenders would even know if an applicant had a Platinum card. On all of my credit reports, it’s simply listed as American Express - Charge Card or Credit Card. There’s no distinction about product type.

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Today maybe, but back in the day before AmEx 31 flavors, Green and Gold started with 3728, Platinum started with 3713, I seem to remember vaguely that Optima started with 3737 but it's been a while so I would not swear on the Optima. "They knew" what flavor you had based on the started numbers and those showed up on credit reports.