How much is the Amex Platinum minimum payment?

The American Express Platinum card minimum spending requirement for the 100,000 points bonus is $6,000, spent within 6 months of being approved for an account. Eligible purchases by both the primary cardholder and any authorized users in the first 6 months count toward this threshold. Bonus points will credit to the account within 8-12 weeks after meeting the American Express Platinum card minimum spending requirement.… read full answer

Certain charges such as fees and interest do not apply toward Amex Platinum’s minimum spend. Neither do purchases of travelers checks, cash equivalents such as lottery tickets and money orders, prepaid cards, gift cards, and more.

The American Express Platinum card minimum spending requirement is in line with those on other American Express cards, which are relative to the amount of the welcome offer. The Business Platinum Card® from American Express requires spending $15,000 within 3 months for its initial bonus offer of 120,000 points. And the American Express® Gold Card offers you 60,000 points after spending at least $4,000 in 6 months.

The minimum payment for an American Express credit card is generally $35 or 1% of your balance, plus fees and interest, whichever is higher. Cardholders can always find their required minimum payment listed on their monthly account statement.

You can learn more about the importance of making at least minimum monthly payments (and what happens if you don't) from WalletHub's … read full answerguide on paying credit card bills.

No, the American Express Platinum card doesn’t have any preset spending limit. That does not give cardholders unlimited purchasing power, though. It means American Express won’t give you a specific credit limit once you’re approved for the card. Rather, they calculate your purchasing power based on how much you spend on the card as well as your income, any debt you carry, and your overall creditworthiness.… read full answer

Using a American Express Platinum card: Things to Consider

Credit utilization: While “no preset limit” can sound enticing, it can actually be quite dangerous. Credit utilization is a major factor in how your credit score is calculated. Essentially, “credit utilization” refers to how much of your credit limit you’re using each month. The less you use up, the better it is for your credit score. However, cards that have no preset limit make it extremely difficult to determine your credit utilization. They have the potential to hurt your credit score as a result.

Reaching your spending threshold: You also have to consider things in even more practical terms. If you don’t know what your spending power is, you won’t know when you’re approaching it. That could leave you in a tough spot in an emergency situation and make it difficult to buy high priced items with confidence. Thankfully, many cardholders have reported getting emails or calls from Amex early on, saying they were approaching their spending threshold and would need to make a payment before being allowed to make any more purchases.

The best thing to do when trying to figure out how much you can spend on your American Express Platinum card is to start small and gradually increase your spending over time.