@Gladius wrote:
Was bored and logged onto my AE account. I noticed I had a "pre-approval" message for the AE Platinum so I input my yearly salary and the submit button. Haven't had an inquiry in over a year so no biggie (I hope) and don't plan on applying for anything else credit wise until next year. Got an instant approval e-mail (was kind of suprised I didn't get the 7-10 day notice). Really curious on what my limit will be. I plan on just paying the yearly $550 fee and throwing this card up in my nightstand with all the other cards I recently paid down/paid off....lol
My question is, "Is there some type of exclusitivity with having the AE Platinum card?" My credit profile is above average (borderline excellent) and my income is "substantial".
Congrats on the appproval but regarding your comment ‘Really curious on what my limit will be’. There is no limit on Amex charge cards like you see with revolving credit cards. Each transaction is approved or denied on a case by case basis. As you use the card and pay it off your ability to use it for larger charges will increase. There is a ‘check spending limit’ that you can utilize to give you an idea if a charge will be approved or not but even that is just a guide.
As for just paying the $550 and sock drawering the card, I have to say that is a horrible idea and you should reconsider. I’m curious if you know much about this card or if you applied just because you saw that you were preapproved. If so, that was a mistake. The Amex Platinum is a high end travel card that comes with quite a few benefits but they are only valuable if you travel.. As others stated you would be foolish not to meet the spend requirements to get the SUB as those MR points can also be very valuable. Again though I hope you either have an existing MR earning card and are familiar with the rewards program or did quite a bit of research beforehand. Far too many posters on this forum apply for high end travel cards without any idea on how to use the miles/points and end up with a card that is basically useless to them because they don’t travel or only do so infrequently. I hope that you don’t fall into this category.
Personal cards:
