Yes, you can buy a car with an American Express (Amex) Platinum card. The Amex Platinum card is a charge card that offers a variety of benefits, and you can use it to purchase automotive products and services.
Keep in mind that while the Amex Platinum card allows you to buy a car, you will need to pay off the purchase in full each month to avoid interest charges. Additionally, many dealerships may have restrictions on what type of cards they accept.
Be sure to check with the dealership before you attempt to purchase a car with your Amex Platinum card.
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Can I use Amex for down payment on car?
Yes, you can use American Express (Amex) to make a down payment on a car. Most dealerships and car lots will accept payment via Amex. Before you head to the dealership, however, you should contact them to confirm their payment processing capabilities and to ensure that they accept Amex.
Additionally, be sure to check to see if there is any limit on the payment amount for Amex as some dealerships may have a cap.
Moreover, it’s a good idea to ask the dealership about any fees associated with using a credit card for your down payment. Some dealerships may charge a fee for processing a credit card payment. Furthermore, be aware that Amex may charge you a cash advance fee for using the card for car payments.
This fee can vary depending on the type of card you have and the payment amount.
Finally, it’s important to remember that using Amex to pay for the down payment on a car can impact your credit score. A large purchase on a credit card such as yours may lead to a drop in your credit score.
To minimize the effect on your rating, you should make sure to pay off the debt as quickly as possible.
Is it OK to buy a car with a credit card?
Buying a car with a credit card is not typically advised. It is possible to purchase a car with a credit card, but it will depend on the card issuer, the dealership accepting the credit card, and the amount of the purchase.
Many credit card issuers have a limit on the amount of money you can spend, and that might not be enough to cover the cost of a car. Additionally, certain car dealerships may not accept credit cards for a car purchase due to the fact that the typical processing fees for a credit card transaction will be higher than for a cash or check payment.
Before attempting to buy a car with a credit card, it is important to look into the card issuers policies, merchant fees and car dealerships policies. Additionally, there should be enough credit available to pay the full purchase price at once.
Paying for a car with a credit card can have significant implications on your finances, if you are unable to pay off the purchase quickly. Interest rates on credit cards are often very high, and it is important to consider the total costs associated with the purchase when deciding to use a credit card to fund the purchase.
Overall, it is not advised to purchase a car with a credit card unless all of the above considerations have been reviewed and taken into account.
Why are Amex cards not accepted?
American Express (Amex) cards are not accepted in many places because merchants have to pay a higher fee for Amex transactions than for transactions using other cards, such as Visa and Mastercard. This fee is called the merchant discount rate and is a percentage of the transaction’s total price.
As a result, some merchants choose not to accept Amex cards because they feel they might not be able to recoup this cost. Furthermore, if a merchant’s profits are already low, the additional costs required to accept Amex cards may negatively affect their bottom line.
Smaller merchants may also be unable to meet Amex’s security standards, or may not have the necessary software or hardware to transact with Amex. Finally, some merchants may simply be unaware that they can accept Amex cards, and thus not accept them as a form of payment.
What is the hardest American Express card to get?
The American Express Black Card, also known as the Centurion Card, is widely seen as the hardest American Express card to get. As a charge card, it does not have a pre-set spending limit and comes with an extensive suite of exclusive benefits and privileges, such as extensive travel perks, airport lounge access, personalized concierge service, and more.
Membership is by invitation only and it features a steep annual fee of $2,500. According to American Express, their Centurion Cardmembers “enjoy one-of-a-kind experiences unavailable to the general public.
” As such, it is regarded as the most exclusive American Express card available.
Why is Amex so hard to get?
American Express (Amex) is one of the most desirable credit cards on the market, but it is also notoriously difficult to get approved for. This is due to the fact that Amex has some of the most stringent criteria of any card issuer, which generally favors consumers with excellent credit.
The average consumer approved for an Amex card typically has a credit score above 700. Additionally, Amex has very high income requirements, which can be hard for some to meet. Generally speaking, the Amex credit line is for individuals who are financially responsible and who are willing to pay more for the card’s additional features and benefits.
Amex cards usually come with top-notch perks and rewards, so they can be well worth the effort of applying. However, those who are unable to meet the stringent requirements should look elsewhere for their credit card needs.
Can I pay my mortgage with American Express?
Yes, you may be able to pay your mortgage with American Express. Many mortgage companies, including banks and other lenders, accept American Express as a payment method. You should contact your mortgage company to find out if they accept American Express before you begin the payment process.
When submitting an online payment, most mortgage companies give you the option to pay with American Express, or enter the information manually if they do not provide an online payment option. Additionally, you may be able to pay your mortgage with an American Express gift card or prepaid card, depending on your mortgage company’s policies.
Be aware that some mortgage companies may not accept American Express as a payment method, or have restrictions in place for using American Express, so it is important to make sure that you can pay your mortgage with American Express in advance.
Does CarMax accept Amex?
Yes, CarMax accepts Amercan Express (AMEX) as payment. CarMax accepts all major credit cards, including Visa, Mastercard, American Express, and Discover. In addition, CarMax also accepts payment by check and cash as well.
When making a purchase at CarMax, customers can choose one of the payment options listed above, and they should make sure to bring the correct form of payment when they go to complete their purchase.
What stores do not accept Amex?
It is difficult to definitively answer what stores do not accept American Express (Amex) as it can vary by location. Generally, most stores will accept Amex as payment, however, there are some merchants that do not.
The list can be extensive, and includes a wide range of merchants from small businesses to some of the largest companies in the world. For example, some large chain grocery stores like Publix, Safeway, and Kroger do not accept Amex in certain locations.
Rent-A-Center, Bass Pro Shops, and AT&T also generally do not accept Amex. Additionally, certain small businesses may also not accept Amex due to the high fees that come with accepting the credit card.
It is best to call a business ahead of time to confirm whether they accept American Express before making a purchase.
What salary do I need for Amex Platinum?
The Amex Platinum Card typically comes with an annual fee ranging from $550 to $595 depending on the exact card product. Along with the fee, Amex Platinum Cardholders may also be eligible for an annual statement credit of up to $300 per calendar year to cover additional airline incidentals and travel-related expenses.
However, it is important for applicants to note that there is no preset limit to the amount of spending required to qualify for the statement credit and that the statement credit drives the primary benefit associated with the card.
In addition to the fee and statement credit, Amex Platinum Cardholders can also enjoy a range of exclusive benefits including exclusive access to luxury hotel and dining experiences, complimentary access to top airport lounges and exclusive discounts on airfares, hotels and cruises.
Depending on the exact variant of the card account, cardholders may have access to other special offers such as accessible upgrades and exclusive services.
In terms of a salary requirement, American Express requires applicants to meet a minimum level of income in order to be eligible for an Amex Platinum Card. Although exact income requirements vary from card to card, most Amex Platinum Card applicants should expect to have an annual income generally above $50,000 to be considered.
However, Amex does not publish the exact income requirements for its cards, so it’s best to speak with an American Express customer service representative for the most up-to-date requirements.
Does Amex Platinum verify income?
Yes, American Express Platinum does verify income when considering applications for their credit cards. This process usually involves submitting paystubs and/or bank statements to American Express, which are then reviewed and verified by their Underwriting Department.
This information is needed to help them determine creditworthiness and decide if the applicant is eligible for the card. It is important to note that only verified income sources will be considered, so applicants should be prepared to provide proof of income in order to be approved.
How much income do you need for a platinum credit card?
The exact income requirement for a platinum credit card varies by issuer and card type, but generally speaking you will need an annual income of at least $50,000 or above in order to qualify. Platinum credit cards tend to have higher credit limits, but may also have an annual fee.
In most cases, the issuer will require applicants to have a good credit score and payment history as well in order to be approved for a platinum credit card. Along with an annual income of $50,000 or more, typically your total assets and net worth should also meet certain criteria for approval.
Who qualifies for an Amex Platinum?
In order to qualify for an American Express Platinum card, you must have an “Excellent” or “Good” credit score. Additionally, you must have a consistent source of income and be able to show that you make enough money to make payments on the card.
Additionally, American Express Platinum cards often have annual fees, so you must be able to pay that fee in addition to your other bills in order to qualify.
American Express also looks at past spending and payment history, so if you have held a credit card in the past and consistently been able to make payments on time, then you may be more likely to qualify for the Platinum Card.
Finally, some American Express cards have higher income requirements, so if you don’t meet the minimum income requirements, you may also not qualify for the Amex Platinum.
What is the credit card limit for 50000 salary?
The exact credit card limit for someone with a salary of 50000 can vary from issuer to issuer and depend on a variety of factors. Generally, a credit card issuer will assess the applicant’s credit score and other account/credit history data to determine the overall creditworthiness.
In many cases, a person with a 50000 salary can expect to receive a credit limit of somewhere between $4,500 – $9,500, but this could be higher or lower depending on the individual situation.
Applicants with a higher credit score can expect to receive access to higher credit limits, where those with a poorer history are likely to receive a lower limit. That being said, by managing their credit and payments responsibly card holders can often find themselves with increased credit limits over time.
It is important to remember that, no matter what a person’s salary is, not everyone is eligible to receive a credit card. Every issuer requires a different set of criteria to determine creditworthiness, so an individual may have a 50000 salary and still not receive a card or have access to higher limits.
In conclusion, the credit limit for someone with a salary of 50000 will vary from from issuer to issuer and depend on a variety of factors. Generally, a person with a 50000 salary can expect to receive access to credit limits between $4,500 – $9,500, but this could be higher or lower depending on the individual’s credit score and other account/credit history data.
For any card holder, managing their credit and payments responsibly can result in them receiving increased credit limits over time.
What is the minimum income for Amex Gold?
The minimum income for Amex Gold is a minimum of $30,000 annually for individuals; or a combined household income of at least $60,000 for households. To qualify for an Amex Gold Card, applicants must be of legal age (18 or over) and have a Canadian credit file and a good credit rating.
To determine eligibility, however, Amex considers other factors such as your total income, the number of years of credit history you have, current debt levels, and spending habits. The approval process may also take into account other information, such as educational background and employment history.
Amex has the right to approve or reject any application, and payment history is also important in determining eligibility.
