The American Express Platinum Card from American Express has been around for a while. The card was introduced around mid 2021 and offers an rewards program with rewards on things like gas and hotels. In this article I am going to look at what the American Express platinum card credit score is and whether or not you should be using it. Whether or not the card is right for you will depend on a few different factors.
First of all the credit limit on this card is $1500. That is pretty low considering the fact that most cards are restricted to spending no more than a certain percent of your credit limit per month. The reason that American Express decided to cap the credit limit at this number is because they want to see if the consumer would actually spend the money. If you do use the card wisely and do not rack up the bill too quickly then you should see your credit score increase as long as you pay the bill on time every month.
Now a lot of people say that having a low credit score means you should not bother applying for any card. That may very well be true in some cases. However American Express Platinum Card comes with a rewards program that many people find really beneficial. It is not a guaranteed way to get a good credit score, but if you use the card wisely and make your payments on time then you should notice a positive difference in your credit score.
Another factor that helps score credit is the type of card you have. The American Express card is a cash advance only card. This is a great thing if you travel a lot or need to purchase items fast. It can be frustrating dealing with traditional credit institutions because if you apply for any of their cards you are usually told no.
You could also use the American Express Platinum Card for online purchases. Many times these types of purchases will boost your credit score since they do not report to any of the credit bureaus. Also remember that American Express credit cards are secured cards so you must have $5000 deposited into an account. The more money you can deposit the better off you are going to be.
You do not want to over do it with your credit score. You definitely want to try to keep it at around above average. American Express Platinum Card can really help you do just that.
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