Free American Express Card: Is the Amex Platinum Worth it 2021?

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Can you truly have a Free American Express Card? The answer to that is absolutely, kind of.

When people say Free American Express Card, what they mean is no annual fees. So there are 3 ways to accomplish this with the Amex Platinum card which cost about $550 annually.

However, before we dive into those three ways let look at some of the Q and A’s on what it takes to get the American Express Platinum card.

What credit score do I need to get an American Express Platinum card?

The Amex Platinum credit score requirement is 700 or higher for good approval odds. Applicants need a good credit score or better to be approved for the American Express Platinum Card in most cases

Is the American Express Platinum Card worth it?

Although many of these premium credit cards carry high annual fees, the benefits, credits and earning potential can be worth more than the annual fee for some cardmembers. … Today we’ll consider the Platinum Card® from American Express, which has a $550 annual fee (see rates and fees).

How much do you have to spend to get an American Express Platinum card?

Right now, the public welcome offer on the Amex Platinum is 75,000 Membership Rewards points after you spend $5,000 in purchases in the first six months of account opening.

Which is better Amex gold or platinum?

The American Express Gold Card also is the better choice for people who spend a lot on dining. On the other hand, the American Express Platinum Card tops Amex Gold in terms of total rewards value. Amex Platinum offers more bonuses and also provides more points on travel purchases.

What FICO score does American Express use?

What credit score does American Express MyCredit Guide provided? The score provided by American Express MyCredit Guide is the VantageScore® 3.0 credit score by TransUnion®.

Does Amex Platinum have a limit?

The American Express Platinum card has no pre-set credit limit. 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.

Now, that we have some knowledge about the American Express Platinum Card, let’s look at the 3 ways to get it for free.

First, you have the Charles Schwab American Express credit Card.

Here are the details to get the Free American Express Card through their company.

Schwab Appreciation Bonus

Receive a $100 Card statement credit if your qualifying Schwab holdings are equal to or greater than $250,000 or receive a $200 Card statement credit if your qualifying Schwab holdings are equal to or greater than $1,000,000, when measured following Card account approval and annually thereafter. For information on qualifying Schwab holdings, please refer to the FAQs.‡

Membership Rewards^® Points

Earn one Membership Rewards^® point for every eligible dollar you spend.‡

Invest with Rewards

Earn Membership Rewards^® points that you can turn into deposits to your eligible Schwab account. (For example, 60,000 points = $750).‡

Second way to get a Free American Express card is thru Morgan Stanly.

Here are a few details on their American Express Platinum Credit Card:

Platinum CashPlus Account, clients may be eligible to receive a $550 Annual Engagement Bonus7 from Morgan Stanley when they become Card Members of the Platinum Card from American Express Exclusively for Morgan Stanley. Platinum Cardholders also enjoy enhanced benefits as well as:

• An Additional Platinum Card for no annual fee, exclusive to Morgan Stanley clients
• Invest with Rewards points that can be used for deposits by Morgan Stanley clients into their qualifying CashPlus Account

CashPlus Accounts feature fee avoidance criteria8 for clients who don’t want to pay the monthly account fee. These criteria include opening and/or maintaining an additional eligible Morgan Stanley investment account, enrollment in Morgan Stanley Online, and:

• For Premier CashPlus Accounts — either $2,500 in total monthly deposits or social security deposits of any amount or $25,000 in average daily Bank Deposit Program (BDP) balance
• For Platinum CashPlus Accounts – both $5,000 in total monthly deposits or social security deposits of any amount and $25,000 in average daily BDP balance.

The 3rd great way to get the American Express Platinum Card for FREE is to take advantage of all the card benefits.

Here are a few of the Amex Platinum Card benefits:

Eligible U.S. Consumer Platinum Card Members will now see even more value when they shop online, with new offers available through June 30, 2021:

• Up to $180 in statement credits with PayPal: Consumer Platinum Card Members can receive up to $180 back ($30/month via statement credits) on purchases made at eligible merchants with PayPal through June 30, 2021. Terms apply.
• Up to $1,700 in Value Through Amex Offers: Eligible Consumer Platinum Card Members² who had the Card as of November 1, 2020, can access up to $1,700 in statement credits after they enroll in Amex Offers with select merchants through June 30, 2021. These offers include:
  • Avis Car Rental – Spend $250+ on eligible purchases, Get $75 back, up to two times
  • BestBuy.com – Spend $50+ on eligible purchases, Get $50 back, up to two times
  • Goldbelly – Spend $100+ on eligible purchases, Get $50 back, up to three times
  • Home Chef – Spend $50+ on eligible purchases, Get $50 back, up to three times
  • HomeDepot.com – Spend $50+ on eligible purchases, Get $50 back, up to two times
  • Instacart – Spend $250+ on eligible purchases, Get $50 back, up to two times
  • Samsung – Spend $1,000+ on eligible purchases, Get $200 back, one time
  • Scribd – Spend $9.99+ on eligible purchases, Get $9.99 back, up to five times
  • The Container Store – Spend $150+ on eligible purchases, Get $50 back, up to two times
  • Virtual Personal Training by Equinox – Spend $780+ on eligible purchases, Get $130 back, up to five times
  • Wine Insiders – Spend $30+ on eligible purchases, Get $30 back, up to two times³

Conclusion:

You really can get a Free American Express Card, if you know where to look. So don’t let that $550 annual fee for the Amex Platinum Card discourage you from having a prestige credit card.

If your goal is to have premium credit and to get high limit credit cards and you need some coaching then check out 3waycredit.com

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