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It’s less about salary and more about how you plan on using it. The annual fee is close around $600. Platinum comes with some perks that offset the cost but if you don’t take advantage of it then it might not add any value to you.
Not about how much you make - it’s about how much value you can extract from the card.
1st year AF - paid for by benefits + sign up bonus
2nd year AF - paid for by benefits + retention bonus
3rd+ year AF - paid for by benefits
I have 5 cards and haven't done the annual retention bonus yet. will be doing it this year for my platinum cards. I did it last year for the vanilla platinum. the retention was worth it since I was paying my property taxes.
Pro
At least $550 per year. On serious note, it’s less about a salary threshold and more about the need. Can you recover the annual fees with the benefits offered based on your situation
You should get it if you see yourself using $695 worth of the benefits.
For me, this is particularly easy ($200 flight, $200 FHR hotels credit, $100 HC hotels on-site spend, $240 digital entertainment, $189 clear, $300 equinox). It’s all about what you use and don’t use.
I also have the luxury of being in a place where I can frequently refer friends to the card, so I’ve gotten 30k points (roughly $600) each year for referring someone.
150
I got one when I was making 30k (intern, in college)
Pro
What does your Dad do?
I got one at ~100 base. But agree with other comments. Less about salary more about needs. For me the annual fee is erased by the stipends (things like Uber/airlines I would use regardless of the card) so the perks and points are basically just a bonus for me. My only negative with platinum is that the gold gets much better points for dining.
Whatever allows you to afford the $700/yr fee
I can afford it, the fee just sounds annoying, like $60 a month?
Consider the sapphire reserve as well. I have both and am about to drop the plat (I was traveling a lot on personal).
Can someone list the benefits of the platinum card?
It changes often it’s best to compare straight from the Amex site.
Work for a firm that has platinum corporate card.
You can get a platinum for a discount. I still doesn’t think it’s worth it
Most people I see with it think it’s a flex and don’t use any of the benefits.
Rising Star
How many weeks do you travel in a year? And what’s your annual spend?
Rising Star
If you don’t spend a lot and don’t travel a lot, you aren’t maximizing the annual fee for the card.
Whenever you can break even on the benefits. Crunch the numbers.
according to Amex fact sheet to advertisers it's 4.3m nw and 437k hhi
Rising Star
Sapphire reserve, venture x, and even Amex gold are good travel cards.
Platinum is great if you utilize the benefits as it gives you back most the annual fee. If not other cards are better.
Pro
No less than $480,000