Just when you thought that the prepaid and debit cards had been the end of any credit limits, AMEX has a surprise for you: the Platinum Credit Card. This credit card is the first one from AMEX's new Platinum line, which promises even higher credit limits. But just when the mobile and internet credit cards disappeared at the end of this year, American Express announced something really different for the 21st century: Amex will offer a special $30 prepaid credit each month through June 2021, then a further $ 180 in value through July 2021. In addition, from September, the Platinum Credit Card will be available to anyone who requests it.
But what does it take to qualify for the Platinum Credit Card? There are three things to be considered. First, you must have a stable job. You must also be able to present a valid ID, so you can prove your identity. And you must have an active checking or savings account with a balance above zero percent.
The second thing is the frequency of your transactions. Because your income and spending patterns may change throughout the course of the year (when Amex rolls your statement credit into the Platinum Card), it's best to stick to one or two major purchases during the year. Committing to a large number of frequent-transactions Platinum Cards, especially for those without a stable job, only gives the appearance of lavishness. This could undermine their credibility, so it's suggested to limit your number of such card transactions. As for the frequency of your other regular purchases, it's suggested to purchase the things you need more often.
The third thing to consider is your earning potential. If you can't make enough money in the first six months to earn the level up to Platinum status, then it's advisable to wait. Spending more than you make will only give you more spending debt and lower your overall earning potential.
Finally, it's important to take note of how many Amex platinum Card memberships you have. If you think you can just buy the stuff from the store, then you're wasting valuable time. But since you earn and spend money based on how many of the membership rewards points you've accumulated, then it's more practical to buy now and pay later. As long as you have at least five hundred points, then it's better to wait for the Anniversary Sale.
Now that we've discussed these important points, it's time to dig into the Amex Platinum PayPal Credit Card FAQs. The first question to answer is whether you can earn rewards points or not with this card. The answer is a big “YES!” because it offers Platinum privileges to cardholders who meet their monthly expenditures within a stipulated time frame. So if you meet your monthly expenses by spending twenty dollars, you get to earn thirty credit cardholders points.
And since the Platinum Card earns you points in the same way as the regular Platinum Cards, it follows that you can also earn membership rewards points. Again, this means you earn points for every dollar you charge to your account. You need at least thirty monthly credit card payments to be eligible to receive these points. So, if you charge thirty dollars every month, that means you need to make at least three hundred dollars in those three months. If you want to see your points, all you need to do is go to the official website of Amex and enter your payment information.
The next question is, when will your reward be delivered? Since it's not an automatic procedure, you won't receive it right away once you complete your monthly credit card payment. But, as mentioned before, once you have met the requirements of receiving points, then you'll surely get them one after the other. The good thing about this scheme is that you don't have to pay any application fee for being eligible for the Platinum Card.
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