The American Express Platinum is a premium credit card that is widely desired by customers who value opulent benefits and rewards. Cash back is one perk that cardholders might be curious about. Can you use American Express Platinum to earn cash back? Yes, but it’s not as straightforward as it might seem.
Every dollar spent on eligible purchases earns you one point with the American Express Platinum, which is renowned for its extensive rewards program. These points can be exchanged for a variety of benefits, including gift cards, goods, travel, and statement credits. Statement credits are not the same as cash back, despite the fact that they can be used to offset purchases made with the card.
You have a few alternatives for using American Express Platinum to get cash back. You can withdraw money from an ATM or a bank using the card’s cash advance feature, which is one option. But there is a steep fee associated with this service, which is either $10 or 5% of the amount withdrawn, whichever is higher. Additionally, it is not advised to use this service unless it is an emergency because cash advances typically have higher interest rates than standard purchases.
However, this is not the best way to use your points. Another choice is to exchange your rewards points for cash back. Depending on the method of redemption, each point has a different value, although in general, cash back offers a lower value than travel or items. For instance, 10,000 points can be used to get a $100 statement credit, but if they are used to book trips, they can be worth $150 or more.
Therefore, even if it is possible to obtain cash back with an American Express Platinum card, doing so is not the best use of your points or your money. The other perks of the card, like access to airport lounges, travel credits, and concierge services, are significantly more worthwhile and can end up saving you money over time.
Depending on their needs and interests, different credit cards appeal to different people. A premium credit card with a high annual fee and exclusive benefits like access to airport lounges, travel credits, and concierge services, like the American Express Platinum or the Chase Sapphire Reserve, may be impressive to certain people. Others find the ease of use and flexibility of a cash-back credit card like the Citi Double Cash or the Chase Freedom Unlimited to be outstanding. Others might be charmed by a credit card that offers benefits for their preferred shops or brands, like the Target REDcard or the Amazon Prime Rewards Visa.
In the end, what people find impressive with credit cards is subjective and based on their own wants and objectives. Some people might be impressed by the sign-up bonus or the rewards rate, while others might be impressed by the status or aesthetics of the card. Instead of using a credit card to impress others, it’s critical to pick one that fits your spending preferences and financial objectives.
What Is the Visa Black Card? Legendary credit card The Black Card Visa is thought to be reserved for the ultra-wealthy and elite. Although there isn’t a specific Black Card Visa, there are a number of invitation-only credit cards that are sometimes referred to as “black cards” because of their exclusive perks and exorbitant fees.
The American Express Centurion is one of the most well-known “black cards” and is reportedly only open to cardholders who spend at least $250,000 annually on their Amex Platinum card and have a net worth of at least $10 million. The Centurion card has a $7,500 initial charge and a $2,500 yearly fee, but it also comes with features including access to exclusive events, a personal concierge, and luxury travel bonuses.
Another “black card” is the Visa Infinite, which is only offered by a few banks and has strict eligibility requirements in terms of income and creditworthiness. Similar advantages to those of the Centurion, like as travel incentives, concierge services, and access to airport lounges, are also available with the Visa Infinite card.
It’s vital to keep in mind that credit cards are a tool for managing your finances and should be used carefully, even though the Black Card Visa may look like a status symbol for the wealthy and famous. It’s also important to keep in mind that a lot of the advantages provided by these special cards are also available on other, more widely available credit cards with lower fees and less onerous eligibility conditions.
To be eligible for the American Express Business Cash Card, you must have a strong to outstanding credit score, usually around 670 or higher. Amex does not solely take into account credit score when analyzing applications for corporate credit cards, though. Along with the applicant’s personal credit history and income, they also take into account things like the applicant’s income, expenses, and corporate credit history.
It’s critical to have a great credit history and a sound business plan in order to increase your chances of being approved for the American Express Business Cash Card. This entails keeping your credit utilization low, paying your bills on time, and routinely monitoring your credit report for problems or inaccuracies. Additionally, be prepared to support your application with documents like tax returns, financial statements, and business licenses.
Small businesses can get cash back with the American Express Blue Business Cash Card. It provides a straightforward rewards program with 2% cash back on all approved purchases, up to $50,000 per year. The cash back rate then decreases to 1%. This card has no annual fee, making it a fantastic choice for companies that want to earn rewards without shelling out extra money.
The Blue Business Cash Card offers additional incentives in addition to its rewards program, including a 0% introductory APR on purchases for the first 12 months and a 0% introductory APR on balance transfers for the first 12 months. Additionally, it offers travel perks including loss and damage protection for rental cars and access to the Amex OPEN Forum’s resources and business assistance.
You need to have a strong to outstanding credit score, often around 670 or higher, to be eligible for the Blue Business Cash Card. You must either be a sole proprietor or own a small business, and you must be able to support your application with records such tax returns, financial statements, and business licenses.