How tight are AMEX on the annual income limits for Plat Charge Card?

[k3nnis]

Hi Kaelo,

How did you go with your application?

 

[Airbumps]

Hey mate,

Haven't done it yet. I'm going to wait until the end of the month and close my QF Ultimate card. That will only leave me with Plat Edge card and I figure then I'll stand a better chance of getting it approved.

I'll report back with results either way..

Cheers,

 

[k3nnis]

ok thanks for your help

 

[Daggs01]

If someone has an existing American Express Gold Charge Card (in good standing order) and is close to the income qualification, you may have a good chance at getting an upgrade to the plat; however i think that if you apply for a plat as a new customer and dont meet the income, you would probably be offered the Gold Charge as a starting point.

It was mentioned earlier that they dont count bonuses. I am lead to believe thats not entirely true. Sure if you supply your two or three most recent pay slips with your salary and a bonus on it, that's what they will look at. However if you provide them with perhaps your group certificate from your employer, or if you have investments your notice of assessment, you may increase your chances.

Also, they are looking for a Gross Salary, not a NET figure. this may help push you towards the six figure mark too!

 

[k3nnis]

Hi,

Was wondering I was with AMEX since 2004 with a plat edge card at present, always pays on time etc. I am about $20000 shy of the required salary. Any chance?

Thanks,
K.

If someone has an existing American Express Gold Charge Card (in good standing order) and is close to the income qualification, you may have a good chance at getting an upgrade to the plat; however i think that if you apply for a plat as a new customer and dont meet the income, you would probably be offered the Gold Charge as a starting point.

It was mentioned earlier that they dont count bonuses. I am lead to believe thats not entirely true. Sure if you supply your two or three most recent pay slips with your salary and a bonus on it, that's what they will look at. However if you provide them with perhaps your group certificate from your employer, or if you have investments your notice of assessment, you may increase your chances.

Also, they are looking for a Gross Salary, not a NET figure. this may help push you towards the six figure mark too!

 

[mini2]

Just give it a shot, worst scenario is another query appeared on your credit file and generally it doesn't really matter if you've got 1-2 inquiry every 6 months.

 

[Deleted member]

It occurs to me that income may not be the whole story. Without asking anything about income I received a centurion card offer in he mail which after much research, (mostly on this site) I declined. AMEX like the card used and paid on time ( charge card that is) so maybe using it or absolutely everything could help?

 

[k3nnis]

Thanks guys, in my situation should I apply online or do it over the phone? I would want to get the 75000 or 80000 bonus points

 

[Simo]

It occurs to me that income may not be the whole story. Without asking anything about income I received a centurion card offer in he mail which after much research, (mostly on this site) I declined. AMEX like the card used and paid on time ( charge card that is) so maybe using it or absolutely everything could help?

I also got an offer for centurion card and also declined it as well.

Income was fine but yearly fee no way.

From memory it was 3k.

 

[Deleted member]

I also got an offer for centurion card and also declined it as well.

Income was fine but yearly fee no way.

From memory it was 3k.

Mine was about $4300 for year one and about $2k PA thereafter I think.

 

[LR09WA]

I have a invite to apply for the Platinum Charge, seriously thinking about it!!

My only reservations are, I applied for 4 credit cards last november in quick succession and I have only been with Amex since november 2011 with the Qantas discovery.

Whats the general feel, is 3 or 4 months enough between card applications.

And would they send a invite then knock me back?? it certainly seems a big jump from the discovery card to the plat charge!!

 

[Daggs01]

Under current consumer lending laws, which Amex cards come under you can not be pre-approved for credit, hence why they need to send you an invite to apply. If you have been invited to apply for any particular card it probably means you would meet their requirements for the card subject to a positive credit check.

The general feel for time between applications is 6 months, this is why your eligible for a credit increase every 6 months.

 

[Daggs01]

Hi,

Was wondering I was with AMEX since 2004 with a plat edge card at present, always pays on time etc. I am about $20000 shy of the required salary. Any chance?

Thanks,
K.

You may want to consider upgrading to the platinum reserve as it gives the same earn rate on reward points as the platinum charge (1.5 per $1). Is there are particular reason why you want the platinum charge?

 

[k3nnis]

Hi,

I am wanting the plat charge so that I could use the excellent insurance it provides and also the concierge service to book restaurants etc. And the other perks of course

 

[Keith009]

Hi,

I am wanting the plat charge so that I could use the excellent insurance it provides and also the concierge service to book restaurants etc. And the other perks of course

The Charge card insurance is well worth it if have a family or are constantly travelling with at least one other person, and make more than 1 overseas trip a year. At my last job the company paid for my travel insurance which removed this as a factor when determining the value of the Plat Charge Card. However no such perk at my current job as I rarely do any travel for work, which alters the equation. If you are a single traveller and are able to obtain a decent limit on the Reserve that you can use to pay for air fares, the travel insurance that comes with that card is more than adequate. Or Edge card + a separate travel insurance policy.

Rental car hire excess waiver is also a great feature of the Charge card if you tend to hire cars a lot but again a decent retail travel insurance policy should come with this.

I wouldn't be getting the Charge card solely or even chiefly for the concierge service... it is convenient at times but I see it as more an ancillary feature of the card. I would not trust them to do more than book restaurants either given they have tended to muck around with even the simplest of queries in the past. Even with booking restaurants, I'd always have to do my own research as they tend not to be very good at making recommendations unless you're wanting to book something from their list of partner restaurants in Oz. Handy for booking overseas restos though, saves having to make an overseas call.

 

[k3nnis]

Thanks Keith for the info. I will look at my options

The Charge card insurance is well worth it if have a family or are constantly travelling with at least one other person, and make more than 1 overseas trip a year. At my last job the company paid for my travel insurance which removed this as a factor when determining the value of the Plat Charge Card. However no such perk at my current job as I rarely do any travel for work, which alters the equation. If you are a single traveller and are able to obtain a decent limit on the Reserve that you can use to pay for air fares, the travel insurance that comes with that card is more than adequate. Or Edge card + a separate travel insurance policy.

Rental car hire excess waiver is also a great feature of the Charge card if you tend to hire cars a lot but again a decent retail travel insurance policy should come with this.

I wouldn't be getting the Charge card solely or even chiefly for the concierge service... it is convenient at times but I see it as more an ancillary feature of the card. I would not trust them to do more than book restaurants either given they have tended to muck around with even the simplest of queries in the past. Even with booking restaurants, I'd always have to do my own research as they tend not to be very good at making recommendations unless you're wanting to book something from their list of partner restaurants in Oz. Handy for booking overseas restos though, saves having to make an overseas call.

 

[k3nnis]

Hi Guys,

I have a plat edge plat card now and thinking of going with the plat charge, hopefully I can get approved, i'm short of the 100k income. Can I keep the edge card and get the 75000 bonus points still? Or do I need to cancel the EDGE then I may have a better chance with the plat charge app? Can I keep my existing membership rewards account, i.e. will it be linked to ascent premium from ascent? I have a number of points in ascent now with plat edge. I would like to keep the edge for it's 3-2-1 earning for supermarkets and petrol.

Cheers,
K.

 

[Cynicor]

I doubt you will get approval if you are short on the income. It would probably depend on how long you have held the Edge card and ability to demonstrate a good repayment history. It would also depends on the rest of your financial history in the app, but I guess you can only try.

I assume you are applying for the bonus points and will then cancel, as the changes have made the card nigh on useless, compared to similarly pitched cards.

 

[vitagen]

I doubt you will get approval if you are short on the income. It would probably depend on how long you have held the Edge card and ability to demonstrate a good repayment history. It would also depends on the rest of your financial history in the app, but I guess you can only try.

I assume you are applying for the bonus points and will then cancel, as the changes have made the card nigh on useless, compared to similarly pitched cards.

I agree, unless you are applying just for the points, I don't recommend you blowing 900 bucks on this useless card!




Very likely to be posted via iPhone or iPad

 

[Cynicor]

That said, if you get in quick, and there are further reductions to the card, you could easily argue a pro rata refund. This relies on further devaluation, which is almost guaranteed judging by Amex au's past performance.