The American Express Platinum Card provides more benefits than the American Express Green and Gold Cards. A point reward system, four free companion airline tickets per year, airport club access, and round-the-clock Platinum Card Concierge service to assist with travel and gift purchases are among the benefits. The Platinum Card is popular among frequent travellers as well as visitors to high-end destinations. While the charge card was initially only available to existing American Express customers with a 2-year account history, new customers can now apply for a Platinum Card online.
Part 1: Meeting The Eligibility Requirements
1. Confirm that you are of legal drinking age. To obtain the American Express Platinum Card, you must be at least 21 years old. Additional cardholders must be at least 18 years old.
2. Obtain a copy of your credit report as well as your credit score. Because the American Express Platinum is a premium card, acceptance will necessitate a higher than usual credit score.
A credit score of 720 or higher, which is considered good, will greatly increase your chances of acceptance. According to Creditkarma.com, the average credit score for those approved for the American Express Platinum card is around 716, with the lowest score being 643. Only 26% of those approved had a credit score of less than 700.
3. Bring any current credit accounts up to date. If your credit score is less than 700, work on improving it to increase your chances of approval.
Reduce outstanding balances to less than 30% of available credit. The “credit utilisation ratio” is your balance divided by your credit limit, and keeping it at 30% or less can greatly improve your credit score.
Always pay your bills on time to improve your credit rating and increase your chances of getting your charge card application approved. Your payment history accounts for 35% of your credit score, so make sure you have no late or skipped payments.
Dispute any errors on your credit report that may have a negative impact on your credit score.
Boost your credit limit. Although it may appear strange, increasing your credit limit can reduce your credit utilisation ratio. Make sure, however, that you do not use the extra space, or you will significantly reduce your chances of being approved for the Platinum card.
4. Check to see if you can afford the Platinum Card’s annual fee. Because the Platinum card offers numerous rewards, users must pay a US$450 annual fee.
Because the Platinum card is a charge card, you must always pay your monthly balances in full. Remember that there is a distinction between a charge card and a credit card. Charge cards, unlike traditional credit cards, do not have a credit limit, and the entire balance must be paid at the end of the current month. Failure to pay results in a late fee of $38 or 2.99 percent of the past due amount, whichever is greater, in the case of American Express Platinum.
5. Check the American Express website for the country you’re in to see if there are any additional eligibility requirements. Different countries have different eligibility requirements, so double-checking them ahead of time can save you time.
While the American Express Platinum website in the United States does not specify any eligibility requirements, if you are a Canadian citizen applying for the Canadian Platinum Card, you must have a minimum CAD$40,000 income, have not filed for bankruptcy in the previous 7 years, and have always made your monthly payments on time. Similarly, the American Express card in the United Kingdom requires a minimum income of 65,000 euros.
Part 2: Applying For The Platinum Card
1. Select an application method. It is possible to apply for the card either online or by phone, though applying online is faster.
Call the Apply By Phone Team at 877-621-2639 to apply by phone. They are open 24 hours a day, seven days a week. When you get on the phone, simply answer the questions and have your social security number ready.
Follow the remaining steps to apply online.
2. To begin your application, go to the American Express website. Select the Platinum Card option and click “Apply now.”
Sign in if you already have an American Express account. Choose the option to create a new account if you are a new customer.
The American Express Platinum Card application must be completed in a single online session. For security reasons, navigating away from the application or closing your browser will cause the application to time out.
3. Fill in the blanks with the necessary information. Make sure to carefully follow the instructions and do not leave any required spaces blank.
Fill in your name exactly as you want it to appear on the charge card.
In the personal data section, enter your name, email and home addresses, social security number, and date of birth in the appropriate fields. Fill out any other information requested on the Platinum Card application.
Fill in your company’s name, city, state, and business phone number in the employment section.
Continue to the section on financial information. Enter your total annual household income and select a source of income from the drop-down menu. Check the boxes to indicate whether or not you have a checking and money market/savings account.
Fill out the information requested for additional cardholders and indicate whether you want to obtain additional American Express Platinum Cards on your account.
4. Verify your information before submitting your application. American Express may contact you within 60 seconds with a decision. Within 10 days, you should receive notification by mail.
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