Should I pay Amex Platinum in full?
Should I pay Amex Platinum in full? Platinum cards must be paid off in full every month. Gold card owners can carry over certain balances with interest.
Should I pay off my credit card in full or leave a small balance?
It's a good idea to pay off your credit card balance in full whenever you're able. Carrying a monthly credit card balance can cost you in interest and increase your credit utilization rate, which is one factor used to calculate your credit scores.
Is Amex Platinum unlimited spending?
No, the American Express Platinum card doesn't have any preset spending limit, but that does not give cardholders unlimited purchasing power. It means American Express won't give you a specific credit limit once you're approved for the card.
What happens if you pay too much on Amex?
Overpayment on your credit card does not improve your credit rating or increase your card's limit. If you make an overpayment, the card company will apply the negative balance toward your next statement, but you can also request a refund.
What is the downside to Amex pay over time?
Doing so won't have a significant impact on your credit score, as long as you continue to make your minimum payments on time, but the rapidly accruing interest quickly overshadows the value of any free travel you might be earning.
Is Amex Platinum a status symbol?
Yes, the American Express Platinum card is considered a status symbol because of its exclusive benefits, high annual fee, and reputation as a premium metal credit card. The American Express Platinum card caters to high-spenders who travel frequently and want a wide range of luxury travel perks and lifestyle benefits.
Is having an Amex prestigious?
The American Express Platinum card is a prestigious credit card because it's a metal card meant for big spenders with good credit or better who travel often and can take advantage of generous perks.
Is 3 credit cards too many?
If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.