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So apparently Plat Travel Income requirement is >50 lacs

R

realjayt

TF Premier
Here with a tale of somewhat rejection.

Profile
4 Year Credit history
CIBIL 777
Highest Card Limit 4.6L

I run two businesses, one being a retail shop and the other a contract firm.
Since my shop is not at a serviceable area I thought better to put my contract firms address as my work address. So the guy came and verified that and the next day I get a rejection saying I don’t meet the income criteria of 6 L which I clearly do as per my ITR. So I send a mail to CC Head of AMEX saying the same. This morning, I get a call saying that I am not eligible for plat travel as per my income but I am eligible for Plat Reserve and I can apply for it right away even while being on the phone, which I politely declined and asked them to put it in writing that “50 lacs income is required for plat travel if you are holding a contract firm of a construction firm.”

Everyone keeps praising Amex for their professionalism but here I feel like it has failed them.
 
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realjayt said:
Here with a tale of somewhat rejection.

Profile
4 Year Credit history
CIBIL 777
Highest Card Limit 4.6L

I run two businesses, one being a retail shop and the other a contract firm.
Since my shop is not at a serviceable area I thought better to put my contract firms address as my work address. So the guy came and verified that and the next day I get a rejection saying I don’t meet the income criteria of 6 L which I clearly do as per my ITR. So I send a mail to CC Head of AMEX saying the same. This morning, I get a call saying that I am not eligible for plat travel as per my income but I am eligible for Plat Reserve and I can apply for it right away even while being on the phone, which I politely declined and asked them to put it in writing that “50 lacs income is required for plat travel if you are holding a contract firm of a construction firm.”

Everyone keeps praising Amex for their professionalism but here I feel like it has failed them.
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i have noticed one thing that Amex Doesn't give cc to Self Employed in Real Estate Sector.
 
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realjayt said:
Yes but I had a clear spend of 4 lacs coming right up, that’s all. Maybe I should look at Atlas?
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If you can afford to put 30 lacs in fixed deposits or 10 lakhs in savings account apply for burgundy savings account and get the relationship manager to issue the Magnus burgundy credit card

on one and half lakh you will get 4.8% return and on the balance 2.5 lakhs you will get 14% return.

Amex Platinum travel card return on 4 lacs is 5.5% only
 
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drsel said:
If you can afford to put 30 lacs in fixed deposits or 10 lakhs in savings account apply for burgundy savings account and get the relationship manager to issue the Magnus burgundy credit card

on one and half lakh you will get 4.8% return and on the balance 2.5 lakhs you will get 14% return.

Amex Platinum travel card return on 4 lacs is 5.5% only
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When you get time, do write a comparison between Atlas and Magnus4Burgundy credit cards.
Or is such an article already there on TF. I find these 2 cards very complicated.
 
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realjayt said:
Here with a tale of somewhat rejection.

Profile
4 Year Credit history
CIBIL 777
Highest Card Limit 4.6L

I run two businesses, one being a retail shop and the other a contract firm.
Since my shop is not at a serviceable area I thought better to put my contract firms address as my work address. So the guy came and verified that and the next day I get a rejection saying I don’t meet the income criteria of 6 L which I clearly do as per my ITR. So I send a mail to CC Head of AMEX saying the same. This morning, I get a call saying that I am not eligible for plat travel as per my income but I am eligible for Plat Reserve and I can apply for it right away even while being on the phone, which I politely declined and asked them to put it in writing that “50 lacs income is required for plat travel if you are holding a contract firm of a construction firm.”

Everyone keeps praising Amex for their professionalism but here I feel like it has failed them.
Click to expand...
Very difficult to get AMEX approval if one is not salaried
 
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drsel said:
What if you have business income more than 18 lacs?
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Salaried with 18 lakhs is much much easier than business income 18 lakhs. That's what I meant. Doesn't mean business income won't get. Can't predict how any bank issues credit cards. Sometimes one is eligible, sometimes ineligible.

A few weeks back, checked hdfc card eligibility from net banking , showed DCB metal and Marriott bonvoy. Both paid. Didn't apply.

A few days back checked again, was showing diners club privilege, tata new plus and some other card I don't remember.

My cibil core was over 800 in both instances. So told can't predict anything. We can only give probability.
 
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realjayt said:
Here with a tale of somewhat rejection.

Profile
4 Year Credit history
CIBIL 777
Highest Card Limit 4.6L

I run two businesses, one being a retail shop and the other a contract firm.
Since my shop is not at a serviceable area I thought better to put my contract firms address as my work address. So the guy came and verified that and the next day I get a rejection saying I don’t meet the income criteria of 6 L which I clearly do as per my ITR. So I send a mail to CC Head of AMEX saying the same. This morning, I get a call saying that I am not eligible for plat travel as per my income but I am eligible for Plat Reserve and I can apply for it right away even while being on the phone, which I politely declined and asked them to put it in writing that “50 lacs income is required for plat travel if you are holding a contract firm of a construction firm.”

Everyone keeps praising Amex for their professionalism but here I feel like it has failed them.
Click to expand...
Nothing with your credit score or personal profile buddy
AmEx dont like RE sector like Standard Chartered wont prefer self employed
After all a card pass on dude
 
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RAMESH BABU N said:
I am a Pensioner and part-owner of an Indian Subsidiary of an European Firm (no salary). ITR - 9.8L last year. 12.0L this year.
I got AMEX MRCC last year.
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Your profile is different sir and also you applied for MRCC which they give more than platinum travel. But as I said in my previous post we can say only about probability.
 
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realjayt said:
Here with a tale of somewhat rejection.

Profile
4 Year Credit history
CIBIL 777
Highest Card Limit 4.6L

I run two businesses, one being a retail shop and the other a contract firm.
Since my shop is not at a serviceable area I thought better to put my contract firms address as my work address. So the guy came and verified that and the next day I get a rejection saying I don’t meet the income criteria of 6 L which I clearly do as per my ITR. So I send a mail to CC Head of AMEX saying the same. This morning, I get a call saying that I am not eligible for plat travel as per my income but I am eligible for Plat Reserve and I can apply for it right away even while being on the phone, which I politely declined and asked them to put it in writing that “50 lacs income is required for plat travel if you are holding a contract firm of a construction firm.”

Everyone keeps praising Amex for their professionalism but here I feel like it has failed them.
Click to expand...
How are you eligible for Plat Reserve but not Plat Travel? While Plat Reserve has crap rewards, does it not have higher fees compared to Plat Travel, making Reserve a more premium card than Travel?

50L income probably makes sense for Plat Charge not Plat Travel whose rewards peak at 4L usage per annum.
 
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