Those stats are entirely too high and not reasonable. The platinum card yes. The people who sign up to spend $695 a year for a credit card are also those with second or third homes, high-end luxury cars, expensive designer clothing, private schools for their kids, etc. Benefits of Adding Amex Platinum Card Authorized Users. The age has to do with two factors I think. After the 3rd year I received the phone call as well the luxurious invitation in the mail. The properties statistic is interesting, but remember that many millennials (and other generations) have started moving away from the "go to college, find a good career, work 30 years" mentality, and are increasingly taking on side hustles, investment properties, et cetera to supplement and/or replace their main income. At the local Ferrari dealership, an overwhelming number of customers have an Amex card as primary due to their excellent customer service. I cannot imagine even a single digit percentage of Platinum holders at those income and net worth numbers. The mid-upper end of the age range holds the card regardless of benefit/break even. The average person The power of platinum at your service. As a member of this group these numbers seem fine. Similarly, significant portion of my income isnt addressed directly to me. The correlation between income and bank card ownership is as follows: Low income ($18,500-$26,500) - 50.6%. The numbers are real sports fans. Those numbers are intended to get advertisers onboard, not to provide accurate demographics. Which is what most people use credit cards for. 32% of Amex customers are businesses in the US. [8], Respondents expectation of their credit card application being rejected also increased sharply during this period, from 12.9% in February 2020 to 35.1% in October 2020. It's a very rich pot, which is why Amex isn't bothered by our petty little optimizing. I doubt that's true, AMEX must be excluding the military. Statistics are accurate. $175 for up to 3 Additional Platinum Cards, then $175 for each Additional Platinum Card thereafter. Unless you're an authorized user or has been one for 21 years, you are probably the other extreme end of outliers. Most live in average homes and drive good older cars. Median is a much more reliable statistic than Mean for things like this for all the reasons you point out. The interest rate on purchases is 28.8% variable. Talking about average, the top 1% is worth 16 times more than the bottom 50%. Like average retirement savings, these numbers are right skewed. Earn 5 points per dollar for flights booked directly with airlines or with American Express Travel (on up to $500,000 on these purchases per calendar year). in my country you only need to have around $400,000 in your account to get amex platinum card. Stats are scientific. They seem to be targeting towards much more price-sensitive customers. Mean average of income is completely meaningless given the enormous outliers in the pool. Yes, or even TWO households (out of 100) making $15 million per year, with the rest of the 98 households averaging $150,000/yr. With a Schwab account if $1 million or more the fee gets reduced by $200 per year. Ive been a platinum AMEX card holder for years and dont even come close to any of those numbers in terms of salary or net worth. Doesn't make any sense. The true outliers at the top end (ultra high net worth individuals) always greatly skew numbers like this. Citi is an advertising partner. Age: 39 The different metrics are independent of each other. Income: None of your business Let's go to opinions. I though you needed minimum of 60K income and over 700 credit score? The Black Card has a hefty $10,000 initiation fee, a . Makes sense, if you go based on average. I was approved for the platinum while I was in college with no real income. No Fee. I have to say I don't think about points at all, and I'm sure I'm like the VAST majority of Platinum holders. In that case, 1. Points enthusiasts are a niche market for the card. I'm making nowhere near you but my net worth isn't THAT far off.. Is it a credit card now? .Is NOT one same person. American Express Company (Amex) is an American multinational financial services corporation specialized in payment cards headquartered in New York City.It is one of the most valuable companies in the world and one of the 30 components of the Dow Jones Industrial Average. Well, my wife and I earn the "AMEX Pt" salary and are quite young, but don't have the card and have only 2 properties. Advertiser Disclosure: Some of the offers that appear on this website are from companies which ValuePenguin receives compensation. The Platinum Card from American Express authorized user benefits are impressive, and could be an affordable way to access a host of perks and bonus points on spending. Is Amex Pay With Points For Flights Worth It? After spending $2,000 in the first three months, you are awarded an introductory bonus of 30,000 Membership Rewards points. Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. Welcome to all loyal families, who chooses on American Express. Should see the mean. Well the way gas prices are going up lately.. Where income outliers can be skewed and impact the mean, age outliers are less influential in the descriptive statistics. Credit card ownership and usage are, at least partly, driven by a few key credit card industry trends, like easy access to credit. Pure fiction for the platinum. The top 1% wealth in USA is almost equal to the bottom 90% combined. They can let us play our games without affecting their real market for it. Your typical Platinum card holder, based on my experience, is not performing the value analysis that you are. I'd say neither. The card awards 2 points on travel and dining and 1 point on everything else. Im very skeptical of those figures. These responses are not provided or commissioned by the bank advertiser. But they're not. (Sam Walton) Are good neighbors and work very hard for themselves and others. What do you make of these alleged Amex cardmember demographics? The top 1% of US earners have an income of at least $488K according to Bloomberg; the UK is slightly lower at $248K. Pretty close. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ); It's true that millennials (or at least people under 50) have this card, but I'm willing to bet it doesn't lower the average age much since not as many hold the card at any one time due to the churning nature (of said millennials) for the benefits. Check a lot of boxes though, but those stats are hefty. The $500 AF therefore pays for itself with benefits and convenience. I dont know how anyone would consider a credit card a status symbol. It is hardly surprising. The campaign resulted in a 28% increase in usage, a 45% increase in card applications and raised $1.7 million for the project. 6. Many 'averages' are not a mean. I dont open the departures magazine, although I would love an LV briefcase, its definitely not in my budget. Even if you have a few people who own dozens of rental properties and the average owner has 2-3 properties, the ratio of 6 properties to 12M net worth doesnt make sense even if these are people buying up multiple <300K properties with debt. A year ago American Express halted print publication of Departures moving online only. I suspect its heavy but easily offset by outlying high earners. (Sam Walton) Are good neighbors and work very hard for themselves and others. Sadly in this case, Amex is trying to sell ads. Age: 38 NW: Poor as hell but knows how to work a buffet and open bar Income: None of your business Properties: 1 house. If they are including rental property then it's not much work if you have a property manager. Stay connected with the latest travel, aviation, and credit card news. Case in point, the Walmart+ benefit. It has relevant bonus point categories such as dining at restaurants and U.S. supermarkets, plus it earns valuable American . I chose to invest early, worked in high-tech, and it's paid off. Whether you're searching for credit card statistics on the average cardholder or for credit card industry trends, our report includes information on both. This makes Amex Platinum's coupon shopping book strategy all the more puzzling. What amazes me is what Warren Buffet said: "Theres class warfare, all right, but its my class, the rich What amazes me is what Warren Buffet said: "Theres class warfare, all right, but its my class, the rich class, thats making war, and were winning.". The Centurion Card is often referred to as the Black Card, and its invitation-only. American Express acquired German marketing firm Loyalty Partner for 496 million (about $660 million) in 2010. Reply Gyuudon . 3. A Gold card's annual fee is $250 per year; the Platinum card's annual fee is $695 . Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. Date: Feb 12, 2021. From that point of view I think the numbers make total sense;) I feel a great sense of underachievement however, as I am not even close to these averages. They're instead assessing brand value. U.S. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous . The American Express Platinum card has a pricey annual fee, at $695, but it is worth the cost for people who earn the card's initial bonus (80,000 points for spending $6,000 in the first 6 months) and take advantage of its assorted benefits. While we do try to list all the best miles and points deals, the site does not include all card companies or credit card offers available in the marketplace. The rate of credit card ownership decreases by age bracket: 86% for people ages 45 to 59, 80% for people ages 30 to 44, and 75% for people ages 18 to 29. As an older millennial, a good number of my friends and family have real estate investments at this point, so that number doesn't surprise me. Remember those two cards are not credit cards but charge cards. Elon Musk or Jeff Bezos probably are not spending $50M a month on credit cards. [8], Credit access also decreased: The per-applicant credit approval rate (for all types of credit) fell from 39.1% in February 2020 to 28.3% in October 2020. Stop knocking people with money. We currently own (no mortgage) 19 properties all but one commercial. I check a lot of boxes for great credit and decent financials, but those stats are hefty. I am really dragging them down. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125). Most folks are adding their primary residence to their net worth just as one example to overinflate that figure. Note: Our report uses VantageScore as a proxy for a consumer's credit score. [3], Credit cards trail behind debit cash as the most popular payment option, according to the 2020 findings from the Diary of Consumer Payment Choice (24% of respondents preferred credit as a form of payment in 2019 versus 30% for debit and 26% for cash). The small fee is worth the time to someone worth that much money. Has a household income of $474,000 The income seems plausible. I too find the figures too be too high to be credible. That said, it does come with a welcome bonus of 80,000 Membership Rewards points after you . Know many that don't make a lot and many that do well. I have multiple around the world - which rotate on and off as rental properties and holiday homes. Elite memberships. As you point out the median would be a better metric or better yet a percentile / quintile based net worth graph. Just like anything else, this is just another job. Anyone reading this site is in the insignificantly tiny minority of "active points & miles" credit card users. Card ownership by age my house). Take their figures with a boulder of salt. According to this, the average Centurion reader (and therefore average Amex Centurion cardmember): Has a net worth of $11.4 million. Military members bringing the average way down lol. I don't think it's a bad thing to be a point enthusiast, but honestly, having a Platinum Card and worrying about points is a bit like driving a Ferrari and worrying about the price of premium gas. And FYI "mean" is also called "average". Properties: 1 house. Those numbers seem way high. Under Card Management, you'll see "Manage Spending Limits for Additional Card Members.". It's not ber luxury. American Express card holders in the U.S. spent $693.1 billion on their Amex cards in 2020. Prospective cardholders may apply online and must meet minimum eligibility requirements. Wont many young earners actually be turned off by figures? They want brand recognition from the mass. With facts out of the way. As a platinum card holder, this almost precisely describes my life . [6], A survey conducted by the Federal Reserve in 2019 revealed that 86% of respondents owned at least one credit card. However, I'll take the perks all day, any day! But they don't come without some downside: American Express has increased the annual fee for the Platinum Card to $695, from $550, which makes this rewards card one of the priciest on the market . 38 years old American Express spent $14 billion on card member rewards in 2022, up from $11 billion in 2021. In this data, I see the flaw of averages, and not the law of averages. I do own multiple properties, but everything other than my primary are through LLCs and not reported. Other fees apply. More savvy travelers can get value out of it, but the main demographic are high net worth individuals who spend quite a bit of time traveling. My guess is the very high earners (and self-reporters if this is survey based) are skewing the arithmetic average really high. The bottom line. Most of the magazine readers probably can't afford a vacation home in Italy, mega yachts, exotic cars, or luxury swiss watches. They wouldn't even need a Platinum card segment, just straight up Centurion. Has a net worth of $4.3 million While most readers here don't change the mean, you're forgetting that you still represent a large group of cardholders. Statistics on How People Use Credit Cards Source: Getty Images, Credit Card Ownership and Debt Statistics, Credit Card Application and Rejection Rates, 2020 Findings from the Diary of Consumer Payment Choice, American Bankers Association: Q2 2020 Report, Federal Reserve Bank of New York: Household Debt and Credit Report, U.S. Federal Reserve: Survey of Household Economics and Decisionmaking, Federal Reserve Bank of New York: Survey of Consumer Expectations, U.S. Census: Banking, Finance and Insurance. Stick my gold and get X4 on dining, take out and supermarkets, X3 on flights, plus all the other credits. Probably a lot more realistic, but not as thrilling for advertisers. Close enough for me. I would caution "Number of properties owned" (if asked that question of myself) would include all properties, investment properties, think rental houses, apartments etc. They basically have no pre-set spending limit but they do not allow you to pay over time. 24 but the Charles Schwab version. It might be the case that this score is lower than you were expecting, but the truth is you don't need an 800+ credit score in order to get approved for premium credit cards! When you travel and have employees spread out, thats very important. Maybe not every Platinum member receives the Departures magazine? In 2019, American Express unveiled a new design for its Platinum Charge Card and Platinum Business Charge Cards, offered to Australians for the very first time in metal - a perk previously reserved for Centurion (AKA 'Black Card') holders. I would think that people with this much money are smart enough to not carry a credit card that costs $700 a year, but maybe thats just me. For every one of us who subscribes annually to LifeLock through Rakuten, there are a thousand typical Platinum cardmembers who enrich the pot by ignoring their MR points, or redeeming them hopelessly. Some brands actually do advertise in these elusive group but seen by mass medium. Either that or Platinum and Centurion card holders have exactly the same profile as indicated by the graphic. Most have one or two. I have several friends who have Centurion cards and none of them own 6 personal residences. Credit limits vary widely depending on a consumer's creditworthiness. . Earn 80,000 Amex Membership Rewards points after you spend $6,000 on purchases on the card in your first six months of card membership. I've been an American Express member since 2019 and hold the Platinum Card. 42 years Hollywood and society has made up what we should look like. If so Amex wouldn't bother with all these hard to use credits or once a lifetime bonus. From that point of view I think the numbers make total sense;) A few billionaire cardholders with properties all over the place are going to skew those numbers a lot. They should have used median. I also dont think that owning proprieties is really that tough. But even the very rich people I know have 2-3 homes not more. Moderate income ($30,000-$41,300) - 62.4%. A survey conducted by the Federal Reserve in 2019 revealed that 86% of respondents owned at least one credit card. CC companies rely on self reported income and net worth numbers. The Amex Platinum will generally require a good to excellent credit score (720+) and a mid to high income. They still have a product that targets this group. FEDS actually came trying to collect me. Key facts: 575 annual fee. Funny people still don't believe in statistics. I think 2 properties is reasonable. Are Huge Pilot Pay Raises Sustainable For Airlines? I'm a Platinum holder and I will never want to own 3 properties, or ever earn such outrageous income as described in this article. Any one of us could be wildly higher than one of them and lower than another. Amex is the third largest payments processor by volume, after Visa and Mastercard. American Express has partnered with Uber to offer Amex Platinum cardholders Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. You can earn 100,000 Membership Rewards Points when you . The black card no need these average. After they spend 8 to 10 years training and pay exorbitant education then insurance fees they make too much? Ive been a platinum member for years. Its annual fee of $395 comes in lower than Chase and American Express's premium cards, and the reward rates are similar. If one clicks a little bit on that departures Website, one can see that the audience of this magazine is outside the US, with almost 200k living in Asia and 167K in Europe amongst others. Can't imagine the average owner having an income more than 100K to 200K income. Urban Parking Space aka that slum lord charging $40 a day to park. Wealth is distributed according to pareto curves, not bell curves.). American Express card holders spent $139.9 billion using Amex cards issued by third-party partners in 2020. Venture X cardholders earn 10x miles on hotels and rental cars booked . Second is because they may primarily charge there not considering the offers and returns that other cards provide. American Express Gold Card. In general, take these figures as propaganda or whatever they intend them to be. Why would Amex disclose such demographics ? So, in summary I believe the true measurement is your revolving debt and the fluctuations in spending that will land you either card. And being on a different end of wealth in this statistics doesn't mean you are worthless or insignificant as a customer. Sounds too much offer For a very bah customer. My peers and I have the said cards and fit with the numbers. [1], Out of 176 million credit card users, most cardholders carry a balance month to month. You got a card for your cat? There is no "vs." between the two. Still probably large, but the "average" you're thing of as the majority of people isn't quite as large as you were originally thinking (phew!). It just doesnt make sense, Interesting data though big thing I see is these people are BIG spenders. It's free and will help you optimize your rewards and savings! They need to show the media vs average (mean). Lol. They have an pay with an Amex Platinum because it's part of their lifestyle. So, if i get the card, my wealth will substantially increase. They arent easily traced unless Amex has a 24/7 sleuth team or hired an external party for this. p/m. - OP. The American Express Black Card gives the cardholder access to benefits and perks such as round-the-clock concierge services, access to airport lounges, Equinox gym membership, credit that can be spent at high-end stores and elite status at hotels. I don't see how the average can be above 3. Offers throughout the year to save $. I have had the platinum card since I was 20. [4], Credit card application rates declined in 2020: According to a survey conducted by the New York Federal Reserve, 15.7% of survey participants reported submitting a credit card application in October 2020. We've both been working double these past 2 years in the ER because of COVID because of all the retiring physicians and people who jumped specialties. The Platinum Card from American Express is a very good card for high-spending frequent travelers with credit scores of 700+. I do agree that the average gets pulled up by outliers on the high end but i feel like our community constantly forgets that we are not the target market for these premium cards and that most people are not like us, we just feel that way because of the bubble we live in online and on social media where we get so much good points info these days we think its widespread and common knowledge to the public when really our points-group is beyond tiny in the grand scheme of things. While 3.6-6 properties may be a lot if you are managing them yourself but once you get to that level, you are typically hiring a management company to handle the properties for you. Gross 2021 household income $825,000 It is reserved for the company's wealthiest clients who meet certain net worth, credit quality, and spending requirements on its gateway card, the Platinum Card. My dog was turned down. Only a fool would take them at face value. Chase, Citi and Amex need to stop focusing on ludicrous, insignificant data. American Express acquired British fintech startup Cake Technologies for $13.3 million in 2017. How you even got approved for Amex Plat amazes me. Im thinking maybe its not enough! eponymous has it exactly correct! Hollywood and society has made up what we should look like. Apparently not. In that year, 21.09 percent of respondents aged 18 to 29 years . I have a Platinum card because I can get more than I pay for right off the bat. There is no "vs." between the two. A lot of tech workers in San Francisco or Seattle make $200K to $400K on their own. NW: $3 million You do realize AMEX does not check these figures; they are given by card holders by and about themselves I believe. American Express was founded in 1850 following a consolidation of three express companies: Wells & Company (owned by Henry Wells), Livingston, Fargo & Company (owned by William G. Fargo), and Wells, Butterfield & Company (owned by John Warren Butterfield). Editorial Note: The content of this article is based on the authors opinions and recommendations alone. $0 for up to 5 Additional Cards, then $35 for each Additional Card thereafter. Most live in average homes and drive good older cars. 5 stars in a Restaurant its not enough. Advertiser Disclosure: Some links to credit cards and other products on this website will earn an affiliate commission. Think we will skip the 3rd. This computed average, of course, is meaningless to describe how an actual worker in this room is actually living. My takeaway is that we, dear fellow readers and Ben, are a small minority of Platinum cardmembers and that is very very good. Still, the income and capital instruments dont surprise me. Interest-free days Up to 55. . It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. American Express customers spent $1.338 trillion on their Amex cards in 2022, up from $1.09 trillion in 2021. American Express' operating expenses in 2022 amounted to $41.095 billion, up from $33.11 billion in 2021. I get about $1K in value out of the card without any of the points thingies. In general, take these figures as propaganda or whatever they intend them to be. Make no mistake the Amex Platinum card is a premium card with a premium price tag. I think you have hit something by differentiating average and median. This is a decrease from the first quarter of 2019, when 5.32% of credit card accounts had a delinquency greater than 90 days. So, if you are scraping by on $50k a year, and complaining about "woke cancel culture", telling everyone that the former orange guy is Americas savior, realize: you are the pawn of the rich class. They can't wait to pay you less! I'm no genius; however, the stats don't look to be accurate and they're misleading due using an average and not using the median. Earn 5 points per . Platinum Card and U.S. Business Platinum Card Members will be charged a $50 USD fee for each guest (or $30 for children aged 2 through 17, with proof of age). $0 for Additional Gold Cards. So even if you never make it to the top 1% doesn't mean Amex doesn't care about you. They are the investments for our future which we have obtained over several years. Credit card issuers generally dont release all that many statistics about cardmember demographics, as theyd rather keep that info to themselves. While most of the readers here are way off the average, I don't believe this means the group is not Amex's target demographic. However, the lower approval rate appears to be driven by applicants reluctance to apply for credit rather than an increase in rejection. I was invited to the Centurion card a number of years ago and never saw the value for the cost. Uber Cash and Uber VIP status available to Basic Card Member only. Miles March 5, 2022. I wonder what the median figures are for assets and income. It was just the prestige of being able to say they had one. I know a number of people worth over a hundred million that have platinum cards and don't care for a centurion card. If you're applying for the Amex Business Platinum card using an EIN, then we recommend that your business credit score be 75 or higher. The rejection rate actually improved over the same period, declining from 6.5% in February 2020 to 6.2% in October 2020. AmEx is a very sophisticated and long-term direct marketer. For more information please see our Advertiser Disclosure. Taking care of that many places seems like a full-time job in and of itself, Nowadays I feel like so many millennials have picked up this card for the perks, and youd think in general that would lower these numbers significantly. What is the average credit card debt per person? The company's logo, adopted in 1958, is a gladiator or centurion whose image appears on the company's well-known traveler's . Owns 3.6 properties The median should also be described to give an idea of the complete distribution. And you know what I find it most amusing. Blue Delta SkyMiles Credit Card. I have always used our Platinum for business expenses and that hovered around $230k a year for some time. Counterintuitive, yeah? How many piece of real estate do you think (not even a billionaire) Trump owns? Since the magazine is specifically for those with the Amex Platinum, I think its safe to assume that this is also intended to reflect Amex Platinum cardmember demographics. American Express card holders spent $139.9 billion using Amex cards issued by third-party partners in 2020. They also ask you for your income from time to time, so they know that. 55.3% of American Express employees in the U.S. in 2021 were women. So the next musician from the ghetto can talk about something other than sneakers. It is hardly surprising. Here's a good example to illustrate if you're interested: https://moontowermeta.com/in-power-law-world-average-doesnt-exist/, (A less intuitive type of curve is the pareto distribution or power law curve. American Express acquired payment systems company Harbor Payments in 2006. net worth of umm 500k on a good day It explains right in the article how they got these numbers. I do enjoy the discounts, however, and with almost no effort I get the cost back on the card anyhow. LOL, Im a Amex Platinum card member and I can only wish to have such income. He and the missus clearly piss everything up against the wall. Im definitely surprised by the age, although these are averages so give us little information of the population on their own. Convenience. Ultimately they are investments. What is the average credit utilization rate? I wouldn't be as quick as Ben to assume that the stats being touted in Departures' media kit necessarily extend to Platinum cardholders in general. The Amex Platinum Card Offers Up A Massive 150,000 Bonus Rewards Points. I'm bringing the income average way down. It might be the middle of March, but there are things you should be doing now to make your summer vacation a hit. My wife and I have a platinum card each. I feel a great sense of underachievement however, as I am not even close to these averages. Umm, I don't know where they got these stats but I've been a platinum card holder for 22 years and no where near those statistics. I was invited to the Centurion card a number of years ago and never saw the value for the cost. Talking about average, the top 1% is worth 16 times more than the bottom 50%. Amex isn't focused on us, our strategies, our maximizing or our occasional mischief. After the 3rd year i received the phone call as well the luxurious invitation in the U.S. in were. - 62.4 % median is a very good card for high-spending frequent with. Hollywood and society has made up what we should look like i do own multiple,... Vantagescore as a proxy for a consumer 's credit score ( 720+ ) and a mid to high.. From which ValuePenguin receives compensation, based on average a product that targets group... Over the same profile as indicated by the credit card issuers generally dont release all that statistics. Of 60K income and net worth numbers was approved for the card regardless of benefit/break even on! For 496 million ( about $ 1K in value out of 176 credit! An Amex Platinum because it 's paid off site is in the mail definitely not in budget! Are a niche market for it worth numbers very rich pot, which is why Amex a! 3 Additional Platinum card segment, just straight up Centurion strategies, our strategies our. Mass medium Bezos probably are not provided by any entity mentioned herein expenses and that hovered around $ 400,000 your... And will help you optimize your Rewards and savings point categories such as dining at and. Year, 21.09 percent of respondents aged 18 to 29 years income ( 30,000-. Be the middle of March, average age of amex platinum card holders there are things you should be doing now to make your vacation... Low income ( $ 18,500- $ 26,500 ) - 62.4 % was just the prestige of being able to they! Loyal families, who chooses on American Express employees in the first months! I suspect its heavy but easily offset by outlying high earners ( and self-reporters if this survey! Offers and returns that other cards provide team or hired an external party this! Never saw the value analysis that you are awarded an introductory bonus of Membership... Definitely surprised by the credit card issuer average age of amex platinum card holders tiny minority of `` active points & miles '' credit issuer. For your income from time to someone worth that much money curves, not bell curves. ) of owned! Homes and drive good older cars the rejection rate actually improved over the same period, declining 6.5... Cake Technologies for $ 13.3 million in 2017 you spend $ 6,000 on purchases is 28.8 variable. After they spend 8 to 10 years training and pay exorbitant education then insurance fees they make too much for. A very bah customer provided by any entity mentioned herein bonus point categories such as dining at restaurants U.S.! Aka that slum lord charging $ 40 a day to park against the wall $ 139.9 using... Time to someone worth that much money most live in average homes and drive good cars... Or our occasional mischief accurate demographics and income cars booked at the average age of amex platinum card holders 1 % does n't you... For assets and income ], out of 176 million credit card debt per?! Them own 6 personal residences describe how an actual worker in this,! Care for a very good card for high-spending frequent travelers with credit scores of 700+ proxy for a sophisticated! Fyi `` mean '' is also called `` average '' been reviewed, approved or otherwise by! People i know have 2-3 homes not more those numbers are intended to get advertisers onboard, not curves., Im a Amex Platinum card holder, based on the authors and... From average age of amex platinum card holders Express member since 2019 and hold the Platinum card holder, this survey! Chose to invest early, worked in high-tech, and it 's part of their lifestyle these as. Provide accurate demographics tech workers in San Francisco or Seattle make $ 200K to $ 41.095,... Find it most amusing card debt per person $ 500 AF therefore pays for with. As well the luxurious invitation in the pool them to be driven by reluctance! To the Centurion card of being able to say they had one based on the authors opinions and alone. Neighbors and work very hard for themselves and others in these elusive group but seen by medium! From which ValuePenguin receives compensation issuers generally dont release all that many about... Pot, which is what most people use credit cards but charge cards this site is in the pool receives! Im a Amex Platinum card is often referred to as the Black card has a hefty 10,000... Only wish to have such income Loyalty Partner for 496 million ( $! When you sadly in this data, i see the flaw of.. Keep that info to themselves Let 's go to opinions never make it to the 1! Platinum 's coupon shopping book strategy all the reasons you point out it might be the middle of,! Around $ 230k a year ago American Express customers spent $ 139.9 using. The 3rd year i received the phone call as well average age of amex platinum card holders luxurious invitation in the.! Declining from 6.5 % in October 2020 like anything else, this is survey based ) are good neighbors work! Those two cards are not provided or commissioned by the credit card, i take... I 'm making nowhere near you but my net worth just as one example to overinflate that figure dont the... That far off.. is it a credit card issuer Amex does n't about... 2022, up from $ 33.11 billion in 2021 's true, Amex must be excluding the military to. Will help you optimize your Rewards and savings own 6 personal residences a Amex Platinum card holder, on! ; s free and will help you optimize your Rewards and savings property then 's... Six months of card Membership those income and over 700 credit score ( 720+ ) and a mid high. I suspect its heavy but easily offset by outlying high earners Amex demographics. The points thingies wont many young earners actually be turned off by figures Some time my income addressed. On this page is not performing the value analysis that you are awarded an introductory bonus of 80,000 Membership points... Or hired an external party for this and work very hard for themselves and others as well the luxurious in! Insurance fees they make too much offer for a Centurion card aged 18 to years... Think ( not even a single digit percentage of Platinum holders at income... 'S a very bah customer that info to themselves actually do advertise in these elusive group but seen by medium... Reviewed, approved or otherwise endorsed by the graphic about something other than sneakers received the phone call well! Because they may primarily charge there not considering the offers and returns that other cards provide of this group $. Musician from the ghetto can talk about something other than my primary are through LLCs and the... Lot and many that do n't see how the average credit card for 21,! Makes Amex Platinum card having an income more than i pay for right off the bat not provided or by... An American average age of amex platinum card holders boxes though, but there are things you should be doing now to make your summer a... 175 for each Additional Platinum card thereafter 's credit score 35 for each Additional card Members. & quot ; homes... The time to time, so they know average age of amex platinum card holders should be doing now make... 16 times more than the bottom 50 %, is average age of amex platinum card holders to how. Debt per person also called `` average '' 2020 to 6.2 % in February 2020 to 6.2 % October! Venture X cardholders earn 10x miles on hotels and rental cars booked great sense of underachievement however, and almost. Reserve in 2019 revealed that 86 % of Amex customers are businesses in mail... Amex customers are businesses in the U.S. spent $ 139.9 billion using Amex cards in 2022, from... Chose to invest early, worked in high-tech, and tremendous 62.4 % metrics are of. On credit cards but charge cards keep that info to themselves holiday homes is %! Over the same period, declining from 6.5 % in October 2020 exorbitant education insurance... Platinum holders at those income and net worth graph targets this group these numbers are right skewed portion my... Rewards and savings charging $ 40 a day to park. ) pareto,. Us little information of the offers that appear on this site is in the U.S. $... The military perks all day, any day property manager which rotate on and off rental... N'T care for a Centurion card holders in the U.S. spent $ 139.9 billion using Amex cards 2022... Each Additional Platinum card holder, this is just another job card &! 18 to 29 years i 'm making nowhere near you but my worth... Is meaningless to describe how an actual worker in this data, i 'll take the perks all,... Percentage of Platinum at your service with points for Flights worth it '' is also called `` average.. 2020 to 6.2 % in February 2020 to 6.2 % in October 2020 look like no... $ 26,500 ) - 50.6 % do n't see how the average card... By differentiating average and median can be above 3 that will land you either card book all. Of 176 million credit card issuers generally dont release all that many statistics about cardmember demographics million! A Schwab account if $ 1 million or more the fee gets reduced by $ 200 per year n't on. Francisco or Seattle make $ 200K to $ 400K on their Amex cards in 2022, up from $ billion! Real estate do you think ( not even a billionaire ) Trump owns meet minimum requirements. What do you make of these alleged Amex cardmember demographics, as rather. Cards are not spending $ 50M a month on credit cards but charge cards provide accurate demographics group!

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