Getting an Amex Platinum Edge

[stolichnaya]

Hi all, I'm new here and very interested in starting to earn FF points. I apologise if my question is outside the scope of the forum, but I'm hoping for some advice and I've exhausted the expertise of my real-life contacts.

After looking around for good rewards programs, I'm pretty keen on getting an Amex Platinum Edge. I'm 22, at uni and my general stats are:

- 1 current credit card (Cth, no rewards program) with a $10,000 limit. I've had it since March and I put about $1000-1200 on it per month (no balance carried);
- savings/shares around $20,000-25,000;
- no debt aside from HECS
- and the problem: my income is variable because of uni, but is definitely nowhere near the $50,000 minimum Amex appears to want ... generally speaking, it's closer to $20,000 or so.

I know that even if my question could be answered in the affirmative it would be with the proviso that my credit limit would be really low, but is there any shot of me getting approved for the card at all? Or is the minimum income rule set in stone? I realise I can aim lower with a different Amex, or just apply for an awards program card with the Cth, where all my other accounts are. However, the Edge 3x/2x/1x scheme and the FF conversion rate looks way more appealing than my options with the Cth, so if I have a chance of getting in on that before my income goes >$50,000, I'd like to know.

Any help much appreciated!

 

[k3nnis]

Hi,

You can always give it a try. But I think the minimum set out is pretty close or what it's required.

If you do decide to go ahead let me know and I can refer you so you will get a higher bonus points total.

Cheers,
K.

 

[Fatcat]

You can always try Stolly, but short of being "creative" with your income declaration its a pretty big hurdle IMHO. Becomes tricky too if they ask for payslips and or proof of other income.

You could always get your parents to apply for the card, issue you with a Supp, and manage the account and the points through them by having them redeem flights for you. Not ideal, but it would achieve your objectives.

Ive found banks (the big 4 at least) are far more willing to extend credit than Amex, especially if you have accounts with them (obviously), so Cth will probably be more than happy to change your card to one that earns FF pts.

One other way is to get a diff Amex card with a lower income requirement, hold it for a few months and then apply for the Edge. Amex seem to be more accommodating giving out credit once you have a history with them (as with any other company I guess).

Good Luck!

 

[prozac]

Stoli, I am wondering if the Plat Edge card is really the card that would suit your spending habits best. It is more suited to supermarket shopping and fuel purchases. Unless you are a family of 2 or 3 it may not suit your requirements. Maybe you are onto a good lurk offering to do the supermarket shopping for your all your share-house mates at uni so excuse me if I am jumping to conclusions.
Maybe easing into a Gold charge card first would be the best option? The income requirement is less and you would not get into trouble with debt etc.

 

[DaveB]

I will preface my advices that I am extremely conservative when it comes to finances.
In making card selections, I never place much value to the card add ons as they are usually difficult to use and the fine print conditions of use catches you out more often than not. Wherever possible, I pay the annual card fees using points redemptions as it gives a true indication of the cost and value of the card.
I have an Edge received as part of my association package for around $145pa and use it purely for supermarkets and fuel purchases. The card ranks 4th in overall use for me behind Citi Select, NAB Amex/Visa and Woolies EDRMC.
The Woolies card would be my suggestion at a low annual fee of $89 and widespread ease of use. The automatic sweep of points to Qantas is the only strength/weakness issue with the card.

 

[LovemyCC]

Start with gold (free annual fee) and you will find they upgrade in a few months if you spend well. You will find that many smaller places dont accept amex, so your spending of $1000-$1200, maybe only half of it can be put on Amex. For your spending, the rewards would be outweighed by cost of annual fee. But worth a try....

 

[phamid]

Start with gold (free annual fee) and you will find they upgrade in a few months if you spend well. You will find that many smaller places dont accept amex, so your spending of $1000-$1200, maybe only half of it can be put on Amex. For your spending, the rewards would be outweighed by cost of annual fee. But worth a try....

This would be the recommended approach. I started off with a Gold Ascent, stayed on it for around a year and upgraded to Platinum Edge for $99/year from a promo. Work up a history with them first before moving over to more premium cards.

By the way, I'm 22 as well with a HECS debt, but my income situation is different. You're likely to get approved when you get past 45K/year. They will ask for proof of income, so it's not a good idea to be "creative".

 

[Beta4Me]

I got this card at 19 with a taxable income of $80K (tax return) but I got a pitiful, in fact disgraceful, credit limit of $3,500 :S

 

[sheenzhaox]

Generally very hard.

When I was a PhD student (I had nearly $30000/year scholarship, no tuition), I tried several times to apply for a AMEX credit card (ACS Gold without fee, etc).
Always rejected. Once I got my job, they approved it immediately.

 

[Plutonus]

I got this card at 19 with a taxable income of $80K (tax return) but I got a pitiful, in fact disgraceful, credit limit of $3,500 :S

Haha I got $3,700. Guess they want to test the water.

 

[Beta4Me]

Haha I got $3,700. Guess they want to test the water.

I've recently been offered a generous pre-approved increase to $4,400 lol. I'm getting sick of reloading mid-month so will be asking for $10K.

 

[rweir]

another thing worth remembering is that $1000/month or so means a return of only ~$120 in points per year. you'd make more by buying one coffee per week less and not paying an annual fee for a rewards card.

 

[scwappy]

another thing worth remembering is that $1000/month or so means a return of only ~$120 in points per year. you'd make more by buying one coffee per week less and not paying an annual fee for a rewards card.

This card offers a 'free' return flight and a good ability to earn bonus points. With a $1000 per month spend you could obtain much more value than $120

 

[prozac]

Don't overlook the free travel insurance.

 

[BillytheFIsh]

Sorry that this is a bit OT - but I can't yet start a new thread being a newbie and all.

I currently use the David Jones Amex for my supermarket and petrol spend that nets 2.25pts/$ into QFF. I'm looking at expanding my earning into VA/KF and am looking at getting a platinum edge to earn 3/2 pts/$ into those programs.

In doing so, I've found that while the Amex website appears to only offer the Platinum Edge with Ascent, if you go through a professional association, (for example google "AMA platinum edge" - I can't post links yet either) you can choose QFF direct earn at what appears to be 3/2pts/$ which is 0.75pt/$ greater than the David Jones card for supermarket spend (I'm a member of a different professional association that has the same offer). That is worth more to me than the ~$50/year increased fee - $99 vs $149)

My question is, will Amex let me have an Association branded Plat Edge earning into QFF and an Amex branded Plat Edge in Ascent?

If not, I suppose I can get the Mrs to get the Amex branded (her association no longer offers branded Amex) and I can get a branded one, but it would be easier if they were both in my name because of income levels.

Cheers

Billy

 

[prozac]

Yes, you can have a co-branded card and the real deal. If you are referred to Amex you may receive extra bonus points on approval. For the PLat Edge this is 15,000pts instead of !0,000 points. Would you like a referral?

BTW: Welcome to AFF.

 

[prozac]

My question is, will Amex let me have an Association branded Plat Edge earning into QFF and an Amex branded Plat Edge in Ascent?

Cheers

Billy

Some here have same.

 

[nicky286]

Yes, you can have a co-branded card and the real deal. If you are referred to Amex you may receive extra bonus points on approval. For the PLat Edge this is 15,000pts instead of !0,000 points. Would you like a referral?

BTW: Welcome to AFF.

You are allowed to have maximum 3 different cards with American express

 

[nicky286]

I've recently been offered a generous pre-approved increase to $4,400 lol. I'm getting sick of reloading mid-month so will be asking for $10K.

Limit increase rule:
*For the first time, you need wait 6 months before you apply your limit increase
*You need to wait another 6 months for another limit increase
*You only can do Maximum 50% increase out of you limit when you do it online or over the phone
*If you need more, you need to fill out a limit increase form
*When you got rejected you need to wait 12 months (when you do over the phone or online), if you want before that you need to fill a limit increase form

Hope it helps

Any question please do not hesitate to ask

 

[Beta4Me]

Limit increase rule:
*For the first time, you need wait 6 months before you apply your limit increase
*You need to wait another 6 months for another limit increase
*You only can do Maximum 50% increase out of you limit when you do it online or over the phone
*If you need more, you need to fill out a limit increase form
*When you got rejected you need to wait 12 months (when you do over the phone or online), if you want before that you need to fill a limit increase form

Hope it helps

Any question please do not hesitate to ask

They ended up giving my an increase only to $5K. I filled out the form and all that jazz.