What Is A Platinum Card?

Who qualifies for a platinum card?

While there is no set score needed, we recommend you have a credit score of at least 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card..

Is a platinum card Unlimited?

RHONDA STEWART, New Grad. The American Express Platinum card has no pre-set credit limit. That does not give cardholders unlimited purchasing power. … Most Amex Platinum cardholders report a credit limit of $2,500 or so for the first several months, from what they can tell.

Is the Platinum Card worth it?

The card comes with a $200 Uber credit, $200 airline incidental credit, and $100 Saks Fifth Avenue credit — which effectively cancel out much of the annual fee. … Given the number of luxury benefits you receive from having the card, if you can afford the annual fee, then yes the Amex Platinum card is definitely worth it.

What is so good about a platinum credit card?

The Capital One Platinum Credit Card is a solid option for those with average credit. It has an annual fee of $0 and also charges no foreign transaction fee, but for many, its standout feature may be that it also offers the chance to earn a higher credit limit after you make payments on time in as little as six months.

What is the benefit of a platinum credit card?

Why it’s one of the best platinum credit cards to get: The U.S. Bank Platinum credit card offers 0% for 20 months on balance transfers. It charges a balance transfer fee of 3% (min $5) but also has a $0 annual fee. The U.S. Bank Platinum card also gives 0% for 20 months on new purchases.

What does it mean when you have a platinum credit card?

What is a platinum credit card? … As a premium credit card, platinum credit cards typically come with an extensive rewards program and high credit limits. But platinum credit cards are designed for an elite class of cardholders with high incomes, so they come with high interest rates and high annual fees attached.