American Express Card Car Rental Insurance – Founded in 1850, American Express (AXP) is a financial services company best known for its traveler’s checks, credit cards and charge cards. The two most popular cards are the black and platinum cards. Both options are debit cards which means that cardholders do not earn interest but must pay in full when they receive a statement.
But both have some important differences. The American Express Black Card is the most exclusive card available to individuals by invitation only. Consumers may qualify for the American Express Platinum Card based on their credit score and income. Read on to find out what each card offers and how they differ.
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The American Express Black Card cannot be used by anyone. This is a debit card offered to High Net Worth Individuals (HNWIs) by invitation. Think of it as an exclusive club. This means you can’t just apply to join. Also called the Centurion card, it is easy to recognize because of the distinctive black and American Express Centurion. The card itself is made of anodized titanium and weighs almost 14 grams.
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Getting invited generally depends on a number of factors. The card’s website doesn’t have any details on how people qualify for the invitation, while news reports say you need to spend a few hundred thousand on your card to reach about $1 million a year. Minimum annual income estimates also vary widely.
Having enough residual income allows the cardholder to avoid the hefty fees associated with the card. According to the cardholder agreement, the black card comes with a $10,000 initiation fee and a $5,000 renewal fee. Year.
Most of the benefits are related to travel. You get Platinum Medallion status on Delta Airlines, 24/7 concierge service, President’s Club status on Avis that qualifies you for upgrades, airline fee rebates and access to various airport lounges, including Amex’s Centurion Lounges.
You don’t have to be elite or nearly as big a spender to apply for the American Express Platinum Card. Unlike the black card, you can easily apply for the Platinum option on the American Express website. If you are a gold card holder who regularly charges the appropriate amount to the card and pays on time, you will receive an application.
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American Express is not as secretive about this card as the black card. The Platinum card is the next step up from the Gold card and comes with many luxury benefits. Qualifying for this card requires a very high credit score – and a long credit history. Prospective cardholders still need relatively high income to be approved for the card, although certainly not as high as the black card.
Recently, American Express has extended a new payment flexibility feature to consumers of platinum, gold and green and service cards that allow cardholders to pay off purchases over $100 over a period of time with a set interest rate and split all large purchases into a set payment. with time. So, while the Platinum Card is still a chargeable card, it now offers a revolving credit feature with a separate credit line that makes it similar to a credit card if needed.
The Amex Platinum card has an annual membership fee of $695 – not nearly as much as the black card. The card’s website lists more than 40 perks you get in exchange for a high annual fee, including access to airport lounges. These benefits also extend to good hotels, exclusive car rentals and concierge services. Cardholders can earn points for every dollar spent on the card – up to five times on travel-related transactions and one point for every dollar spent on regular purchases.
Through 2022, the welcome bonus for new cardholders is 100,000 Membership Rewards points after spending $6,000 in the first six months.
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Both of these cards are travel cards, which means there’s very little reason to keep them if you don’t travel often. The high annual fee on the Platinum and outrageously high fees on the Black Card will not pay for themselves if you are a frequent traveler.
You can get the same benefits with the Platinum card that you can with the Black card. But the benefits that set the black card separately, at least according to the card holder, are reduced. Services and reservations arranged by concierges are reported to be substandard and overpriced, and customer service is often slow.
Of course, the status symbol of holding each card has its advantages. Some people say that just using the Black Card guarantees them an upgrade they don’t need. There must be other rights. If you have received an invitation for a black card, you have the opportunity to speak with an Amex representative before signing up. Ask him about the benefits and then ask yourself if you are using additional benefits and if they are worth it.
If you spend a lot of time at 36,000 feet and a lot of your nights in hotels, the Platinum card offers most of the benefits of the Centurion (Black) card.
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The American Express Centurion Card is the official name of the Amex Black Card. The Black Card is the highest premium card issued by American Express. Platinum card holders must meet certain criteria to receive extended invitations. The American Express Black Card comes in personal and business forms. The physical card is made of titanium anodized and has a weight of 14 grams, about a compact disc.
American Express does not publicly disclose the requirements to receive an extended invitation to receive a Black Card, except that the cardholder must be a Platinum Cardholder.
There are no specific income requirements and even people with excellent credit scores and a long positive track record with American Express may not be invited to apply. High spending isn’t an official requirement, but a good rule of thumb is that prospective cardholders need to make annual purchases between $250,000 – $500,000 on all of their open Amex cards. The rest is based on the undisclosed criteria of the financial institution.
The invite-only Black Card is aimed at high net worth individuals who travel frequently. Becoming a member will cost you an initiation fee of $10,000, and an annual fee of $5,000.
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Black Card privileges include flight, hotel and car rental upgrades, as well as access to exclusive airport lounges. The black card also offers private concierge services, as well as access to concert tickets, and there are rumors that it can offer jet charter services.
There are no spending limits with the Amex Black Card. However, the balance must be paid in full each month.
A solid credit score and income are necessary to qualify for the American Express Platinum Card. Annual membership is $695 and cardholders receive a variety of travel benefits including access to Centurion, Delta and Airspace lounges, as well as hotel benefits, car rental privileges and concierge services.
As American Express likes to say, “Membership has its privileges,” and holders say that simply using the Black Card guarantees them upgrades they wouldn’t otherwise be entitled to. The Platinum card is one level lower in price and benefits, and it has a variety of travel perks. For the rest of us, American Express offers a line of 17 other cards.
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The best credit cards often have many perks that make them worth using. One of the special benefits that comes with owning a certain American Express card is the protection and peace of mind that comes with car rental insurance. Continue reading to learn more about American Express car rental insurance and what’s included.
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Also known as rental loss and damage insurance, American Express car rental insurance comes with most Amex cards, including select business and travel credit cards. However, it is important to note that coverage will vary depending on the type of card you have. For example, premium credit cards with higher annual fees may have more coverage than non-premium rewards cards.
Most Amex cards, with or without an annual fee, have a maximum benefit of $50,000 in