AMEX Platinum Credit Card

Amex Platinum American Express cards are charge cards, not credit cards, meaning the balance you charge on the card is due, in full, each month. AMEX makes its money on these cards by charging an annual fee and from the merchant fees it collects for each transaction.  The AMEX platinum card is also considered an exclusive credit card, but a step below an AMEX black card. 

Even though there isnít a pre-established credit limit, American Express does make sure individuals are within their average monthly spending limits.  If they see abnormal spending limits then they will temporary freeze the purchase authorizations until you make payment on your current charges.  

Many people like the AMEX Platinum card since it has a much lower annual fee of only $450 compared to the black card annual fee of $2,5000.  Platinum AMEX Cardholders receive fantastic benefits that are very comparable to the black card and offers exclusive events only for platinum and black card cardholders.
In order to qualify for an AMEX Platinum credit card, an individual must meet the following requirements:

1)  Applicants must have a credit score of 700+

2)  Obtain a "Standard" Green American Express card and use it regularly for two years. Previous American Express customers who have a consistent on-time payment history, paying more than the minimum balance on each bill, have a better chance to qualify for the Platinum Card.

3)  Be able to pay an initial fee of $450. You will be required to pay a yearly fee of $450 in order to authorize your Platinum Card.

4)  Show that you are able to pay off your car fees in full at the end of each month. This is a requirement for having an American Express Platinum Card. You can demonstrate this by having a high annual household income of $100,000 or more, no credit cards with excessive balances and no defaulted credit card payments.

5) Apply for the American Express Platinum Card. You can do so by going to the American Express website. There are two different forms for applying for a Platinum Card--one for existing American Express customers and one for new customers.

As you can see, the Platinum American Express qualifications are much lower than the AMEX Black Card, BUT the annual fee is also much less.  Many cardholders prefer the American Express Platinum Card versus the Black Card because of the much lower annual fee, while still being able to take advantage of exclusive benefits only seen by Platinum and Black cardholders.

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