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Financial reviews (and similar matters): differences in treatment for Platinum?

Financial reviews (and similar matters): differences in treatment for Platinum?

Old Jul 22, 12, 6:03 pm
  #1  
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Join Date: Jan 2003
Programs: American Airlines Platinum, National Executive
Posts: 3,792
Financial reviews (and similar matters): differences in treatment for Platinum?

I have an AmEx Gold card and pay it off in full every month- and have done so for years. My credit score is high and I've never been late on a payment, ever. However, I run up large amounts every month on my AmEx, for business expenses, and as a result get hounded by AmEx to pay early, almost every month, and had to send in copies of bank and investment account statements a while back. I hate dealing with this.

AmEx customer service agents have mentioned that I can upgrade to a Platinum card (which I know is just an invitation, not a promise). If I do, will AmEx be a little more relaxed about my high spending, and at least not hound me every month? I assume no difference, but was curious.

Thanks.
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Old Jul 22, 12, 10:10 pm
  #2  
 
Join Date: Jun 2010
Location: NYC
Programs: SPG Plat, Emerald Exec., PC Plat, AA, CO, DL, UBS Charter Card, Palladium Card, Amex Plat
Posts: 1,694
Originally Posted by NYCommuter View Post
I have an AmEx Gold card and pay it off in full every month- and have done so for years. My credit score is high and I've never been late on a payment, ever. However, I run up large amounts every month on my AmEx, for business expenses, and as a result get hounded by AmEx to pay early, almost every month, and had to send in copies of bank and investment account statements a while back. I hate dealing with this.

AmEx customer service agents have mentioned that I can upgrade to a Platinum card (which I know is just an invitation, not a promise). If I do, will AmEx be a little more relaxed about my high spending, and at least not hound me every month? I assume no difference, but was curious.

Thanks.
No difference. Also you can change to Platinum with no problem, it's not just an invitation. It's not an exclusive product, only difference between that and your card now is how much you're willing to pay a year. If you are approved for a green card, you'd be approved for a Platinum or could just upgrade your card to it. Maybe you were confusing it with Centurion?
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Old Jul 23, 12, 8:12 pm
  #3  
 
Join Date: Jan 2007
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Originally Posted by mlad1101 View Post
No difference. Also you can change to Platinum with no problem, it's not just an invitation. It's not an exclusive product, only difference between that and your card now is how much you're willing to pay a year. If you are approved for a green card, you'd be approved for a Platinum or could just upgrade your card to it. Maybe you were confusing it with Centurion?
Yea, this is completely wrong. Platinum is not Green and not Gold (nor Zync) for that matter. Usually, the acct comes with a (much) higher expsore rate, and often allows for greater spend then Gold. Not always. But more often then not. As for FRs, I believe you might have some justification on a case by case basis, although the trigger is usually Amex's automated financial algorhythms.
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Old Jul 23, 12, 11:25 pm
  #4  
 
Join Date: Jun 2010
Location: NYC
Programs: SPG Plat, Emerald Exec., PC Plat, AA, CO, DL, UBS Charter Card, Palladium Card, Amex Plat
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Originally Posted by Ritz View Post
Yea, this is completely wrong. Platinum is not Green and not Gold (nor Zync) for that matter. Usually, the acct comes with a (much) higher expsore rate, and often allows for greater spend then Gold. Not always. But more often then not. As for FRs, I believe you might have some justification on a case by case basis, although the trigger is usually Amex's automated financial algorhythms.
Spend allowed is completely unrelated to color of card, the color of the card does NOT change the spend they would allow. If you are approved for a Green card you can change it to a Plat that day if you wanted to. All Amex personal charge card products(excluding Centurion) have the same approval requirements.
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Old Jul 24, 12, 1:19 am
  #5  
 
Join Date: May 2002
Location: Arizona
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Exposure =Exposure aka credit risk, etc.

Color such as green, platinum, black, does not matter.

The only reason someone would wrongfully jump to to color of card flavor conclusion is you need to have tenure, history, seasoning, etc for Centurion so obviously Amex may know come Centurion card holders better.

I know a billionaire basketball team owner who has a Amex green card and I am sure he can spend a lot more than almost any Centurion card holder.
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Old Jul 24, 12, 1:45 am
  #6  
 
Join Date: Jan 2010
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Originally Posted by Centurion View Post
Exposure =Exposure aka credit risk, etc.

Color such as green, platinum, black, does not matter.
I would agree. I have had green, gold, and platinum and I believe the spend ability was the same on all three.

Not unusual to get an AMEX FR with high monthly business expenses because of the credit risk if the business runs into a financial problem.
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Old Jul 25, 12, 3:30 pm
  #7  
 
Join Date: Mar 2007
Programs: BA Gold,Hilton Diamond,Platinum Ambass,SPG Gold,Flying Blue Platinum,Club Carlson Gold
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You cant do this in Europe (ie change from Green to another colour as soon as becoming a member. Each colour has different salary requirements ie in the UK you need 40.000 pounds per annum for the Platinum Charge Card, For the ICC Platinum its 65.000 Euro. Green is 20.000 pounds and 35.000 Euro respectively so to say that one can "upgrade from Green to Platinum the same day seems a tad "far fetched", without being able to prove your income it just wont happen!
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Old Jul 25, 12, 3:41 pm
  #8  
 
Join Date: Mar 2011
Programs: Marriott PPE+Ambassador, Hyatt Globalist, Delta Plat, United Silver, AX Biz Centurion
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In the USA, it's absolutely true, qualifications are exactly the same for Green and Platinum. I know people who have an unimpressive annual income, and a very unimpressive credit report (including several charge-off's), that had no problem qualifying for a Platinum card.

Also, Amex FR is the same on Green as it is on Centurion. I've gone through FR on my Business Centurion, and it was just as intensive as others report on their cards here. I've also gone through FR on my personal Platinum charge card, which also had the same treatment you are complaining about (requiring bank statements every few months).

Get the platinum card only if you are going to benefit by it's programs such as FHR, Airport clubs, etc ...
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