Author Topic: Let's talk about the Amex Platinum. Anyone have one ??  (Read 4788 times)

Jack0Life

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Let's talk about the Amex Platinum. Anyone have one ??
« on: February 11, 2022, 10:29:40 AM »
After 5+ yrs, I ended my tenure with the Sapphire Reserve.
The annual fee went up to $550 and I did not want to pay that. Beside I can canceled it and reapply and get the bonus reward again since it's been 4+ years since my last sign up bonus.
My intention to to apply for the Reserve again but the Amex Plat. intrigue me.
Always wanted one but the high fee, $695, dissuade me. Then I found a link for the 150k(usual 100k) bonus so I applied.

The card got here and it came in 2 days and in a box. Every other CC came in an envelope.
Super thick premium metal card.
Figuring how I can make my $695 back. The 150k pts already take care of that as I plan to use to points and transfer to an airline to fly to SW Asia in the future.
- $200 airplane incidental credit. I fly Southwest a lot so I'll get this back.
- $200 in Uber credit. I'll make use of this.
- $179 Clear credit. I already have TSA and Global but there's a link for $75 in Uber credit when you sign up so I will.
- $240 entertainment credit. Already sign with Peacock. Probably will get NYtimes.
- $200 in FINE hotels credit. These hotels are expensive. Might be able to book 1 night somewhere.
- $155 in Walmart+ credit. Signed up for this. I might pause my Amazon Prime while I have this.
- $100 in Saks Fifth Ave. Over priced but it's a FREE $100.
- Centurion Lounge access. I'm most excited about this. There is a new 14,000 sq feet lounge in Denver and we just happened to be going there end of March.

All in all, I'd probably say there's at least a good $500 worth of goodies to negate the $695 annual fee. I mean I signed up mostly because of the 150k bonus.

My question is anyone here has the Platinum on a regular basis ?? I don't see me holding on to this card beyond the first year. The $695 is a bit much. I personal think the Reserve is a better overall card but the Platinum FEELS so premium for whatever that is worth. LOL.

NotJen

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #1 on: February 11, 2022, 11:24:18 AM »
Back in the day, there was a loophole where you could get a version of the AmEx Plat fee-free for a year.  I rinsed and repeated a few times; it was glorious (only the first one had a small sign-up bonus).

Even if you cancel after the first year, you'll be able to get the $200 airline credit twice - once in 2022 and again in 2023.

One of mine came with a wood stand thing-a-ma-do that I sold on Ebay for $15.

Saks credits were hard to use effectively - but I got a couple gifts for free out of it, and some shampoo/conditioner that lasted a while.

I tried to justify keeping my last loophole card when I got charged the annual fee in 2019, but I couldn't make it work for me.

FreelanceToFreedom

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #2 on: February 11, 2022, 12:49:02 PM »
It's worth it for the signup bonus. Not worth keeping past year one, for 95% of people. Much better options for a long-term keeper.

I also cancelled my Sapphire Reserve this year. I grabbed the new Capital One Venture X, which I think will be my new daily driver, until something better comes along. Right now, the Venture X is a better value than both the Reserve and the Platinum (in my opinion).

Do note that Capital One is harder to get approved for. I was actually surprised to be approved, lot of people have trouble even with good credit/high income.

DaTrill

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #3 on: February 11, 2022, 01:18:22 PM »
150.000 points is amazing bonus.  Mine was probably 60,000.  Schwab Platinum also has an extra $100 or $200 depending on balance.  Fine hotel credit is almost impossible to use as the hotels are $400+ night to get a $100 bonus doesn't make any sense. 

Southwest doesn't have many incidentals, so not as easy to use.  Card roughly pays for itself, but must use credits strategically.  Lounge access is great in the US, but Priority Pass which is offered with much less expensive cards is better in Asia.  I may cancel AMEX platinum soon.   

Dr Kidstache

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #4 on: February 11, 2022, 01:26:32 PM »
I've had the Amex Plat for many years, maybe 15-ish? I used to travel a lot and the travel benefits, lounges, hotel status, etc were definitely worth it for me. I also like the other benefits like purchase protection and roadside service. But I'm going to cancel it when the fee comes due in April. It's too expensive, I don't travel anymore, and it's more like a fiddly coupon book at this point.

WSUCoug1994

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #5 on: February 11, 2022, 01:31:52 PM »
I have had a business Platinum for 20 years - get to keep all of the points and not have to pay any of the bills - no brainer

I have Schwab Amex Platinum.  I get a $200 credit every year for the volume of Schwab Holdings.  I use the Uber Credits and Uber Pass, Walmart+, Cell phone insurance, lounges, digital credit (Audible) and Clear credit.  Amex has great promotions - probably get another $50-$200 in savings a year with the promotions.  I take the points from my Business Card and Personal card and transfer to my Schwab account - 1 pt = 1.1 cents (used to be 1.25 cents).  I have close to $10,000 I have transferred over from points to my investment account. 

Problem with the Platinum is pretty much everything is 1 point.  Outside of booking travel directly or through Amex Travel there aren't many ways to earn points.  Anytime I have a big one point purchase I use this card.  I really like it that I can take my Business points and transfer them to Schwab.  That is the primary reason I have this card.


Jack0Life

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #6 on: February 11, 2022, 01:55:01 PM »
I have had a business Platinum for 20 years - get to keep all of the points and not have to pay any of the bills - no brainer

I have Schwab Amex Platinum.  I get a $200 credit every year for the volume of Schwab Holdings.  I use the Uber Credits and Uber Pass, Walmart+, Cell phone insurance, lounges, digital credit (Audible) and Clear credit.  Amex has great promotions - probably get another $50-$200 in savings a year with the promotions.  I take the points from my Business Card and Personal card and transfer to my Schwab account - 1 pt = 1.1 cents (used to be 1.25 cents).  I have close to $10,000 I have transferred over from points to my investment account. 

Problem with the Platinum is pretty much everything is 1 point.  Outside of booking travel directly or through Amex Travel there aren't many ways to earn points.  Anytime I have a big one point purchase I use this card.  I really like it that I can take my Business points and transfer them to Schwab.  That is the primary reason I have this card.

So do you have to transfer pts from Personal to Schwab CC before you can transfer to a Schwab account ??

Jack0Life

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #7 on: February 11, 2022, 02:02:23 PM »
150.000 points is amazing bonus.  Mine was probably 60,000.  Schwab Platinum also has an extra $100 or $200 depending on balance.  Fine hotel credit is almost impossible to use as the hotels are $400+ night to get a $100 bonus doesn't make any sense. 

Southwest doesn't have many incidentals, so not as easy to use.  Card roughly pays for itself, but must use credits strategically.  Lounge access is great in the US, but Priority Pass which is offered with much less expensive cards is better in Asia.  I may cancel AMEX platinum soon.   

I heard the $5.60 service charge when booking a Reward flight trigger the charge. I'm traveling a lot this year so each trip is $22.40 for me and the wife. Also I heard if you purchase a flight less than $100, it will also trigger the airline credit. You can always buy a ticket and then cancel and have that amount in your travel funds for later use.
All the Priority Lounges I've been to are OK. Great during those connecting flights but I'm a bit excited to see the Centurion lounges which I've heard is a big step above.

Jack0Life

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #8 on: February 11, 2022, 02:06:44 PM »
Back in the day, there was a loophole where you could get a version of the AmEx Plat fee-free for a year.  I rinsed and repeated a few times; it was glorious (only the first one had a small sign-up bonus).

Even if you cancel after the first year, you'll be able to get the $200 airline credit twice - once in 2022 and again in 2023.

One of mine came with a wood stand thing-a-ma-do that I sold on Ebay for $15.

Saks credits were hard to use effectively - but I got a couple gifts for free out of it, and some shampoo/conditioner that lasted a while.

I tried to justify keeping my last loophole card when I got charged the annual fee in 2019, but I couldn't make it work for me.

This is nice to know. So next year in Jan, if I can use the $200 airline incidentals before the annual fee hit again in Feb ??

Jack0Life

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #9 on: February 11, 2022, 02:13:37 PM »
BTW, back in Dec, I tried using the Card Match tool and I was pre-qual for 150k Platinum pts but I didn't apply because I just got the Southwest and trying to earn Companion Pass.
When I did cancel my Reserve, I went to Card Match again and I wasn't pre-qual for anything. I said well there goes that.
Told my friend this and he gave me a refer link from the internet for 150k.
Both me and him applied so this "someone" got an easy 30k bonus points from us.
When I did create my own refer link, it was only 100k bonus.
If you want the 150k link, message me. I get ZERO benefit from this. Just an FYI.

NotJen

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #10 on: February 11, 2022, 02:14:23 PM »
Back in the day, there was a loophole where you could get a version of the AmEx Plat fee-free for a year.  I rinsed and repeated a few times; it was glorious (only the first one had a small sign-up bonus).

Even if you cancel after the first year, you'll be able to get the $200 airline credit twice - once in 2022 and again in 2023.

One of mine came with a wood stand thing-a-ma-do that I sold on Ebay for $15.

Saks credits were hard to use effectively - but I got a couple gifts for free out of it, and some shampoo/conditioner that lasted a while.

I tried to justify keeping my last loophole card when I got charged the annual fee in 2019, but I couldn't make it work for me.

This is nice to know. So next year in Jan, if I can use the $200 airline incidentals before the annual fee hit again in Feb ??

Yep.  It's based on calendar year, not card year.  You can also change your airline after the new year if you need to.

DaTrill

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #11 on: February 13, 2022, 02:05:04 PM »
150.000 points is amazing bonus.  Mine was probably 60,000.  Schwab Platinum also has an extra $100 or $200 depending on balance.  Fine hotel credit is almost impossible to use as the hotels are $400+ night to get a $100 bonus doesn't make any sense. 

Southwest doesn't have many incidentals, so not as easy to use.  Card roughly pays for itself, but must use credits strategically.  Lounge access is great in the US, but Priority Pass which is offered with much less expensive cards is better in Asia.  I may cancel AMEX platinum soon.   

I heard the $5.60 service charge when booking a Reward flight trigger the charge. I'm traveling a lot this year so each trip is $22.40 for me and the wife. Also I heard if you purchase a flight less than $100, it will also trigger the airline credit. You can always buy a ticket and then cancel and have that amount in your travel funds for later use.
All the Priority Lounges I've been to are OK. Great during those connecting flights but I'm a bit excited to see the Centurion lounges which I've heard is a big step above.

I check "flyertalk" before trying to use the credits as the policies change all the time and there are a few people who spend A LOT of time squeezing all the befits out of the travel cards.  Challenging to generalize over time and even between accounts.       

WSUCoug1994

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #12 on: February 14, 2022, 04:46:58 PM »
I have had a business Platinum for 20 years - get to keep all of the points and not have to pay any of the bills - no brainer

I have Schwab Amex Platinum.  I get a $200 credit every year for the volume of Schwab Holdings.  I use the Uber Credits and Uber Pass, Walmart+, Cell phone insurance, lounges, digital credit (Audible) and Clear credit.  Amex has great promotions - probably get another $50-$200 in savings a year with the promotions.  I take the points from my Business Card and Personal card and transfer to my Schwab account - 1 pt = 1.1 cents (used to be 1.25 cents).  I have close to $10,000 I have transferred over from points to my investment account. 

Problem with the Platinum is pretty much everything is 1 point.  Outside of booking travel directly or through Amex Travel there aren't many ways to earn points.  Anytime I have a big one point purchase I use this card.  I really like it that I can take my Business points and transfer them to Schwab.  That is the primary reason I have this card.

So do you have to transfer pts from Personal to Schwab CC before you can transfer to a Schwab account ??

No AMEX consolidates all of my points from business and personal as one point total.  There is a button on the AMEX website and two clicks later it shows up in my Schwab Brokerage Account.

pdxvandal

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #13 on: February 14, 2022, 07:56:11 PM »
I had one for 2 years but got rid of it end of 2021 due to the fee. I got my value out of it though and even negotiated a $50 annual fee (after $0 first year), instead of $550. Used it for Uber Eats, Saks, airline credit, TV streaming discounts ... definitely got my money's worth, but wouldn't have if I had kept it. I moved to Venture X for signup bonus and will commit to that and the SW Airlines cards for the next year or so.

Jack0Life

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #14 on: February 15, 2022, 08:08:06 AM »
Surprised that there are not a lot of Platinum card holders in this forum.
Or maybe they don't want to talk about their experiences.

DaMa

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #15 on: February 15, 2022, 01:11:17 PM »
Surprised that there are not a lot of Platinum card holders in this forum.
Or maybe they don't want to talk about their experiences.

I think there are quite a few here with the Chase Sapphire Preferred or Reserve (including me).  Wouldn't make sense to have the Amex as well.   I've been reading this thread to see if it would be worth switching.  So far the answer is probably not for me.

Jack0Life

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #16 on: February 15, 2022, 02:05:57 PM »
Surprised that there are not a lot of Platinum card holders in this forum.
Or maybe they don't want to talk about their experiences.

I think there are quite a few here with the Chase Sapphire Preferred or Reserve (including me).  Wouldn't make sense to have the Amex as well.   I've been reading this thread to see if it would be worth switching.  So far the answer is probably not for me.

No I wouldn't have both either but for most of the Reserve owners, it has been 4+ yrs and the annual fee went up to $550 for everybody this year.
This would be a perfect year to cancel and try something else. Either the Amex Platinum or Venture X.
Worst case, you can reapply for the Reserve and collect the sign up bonus again.

kenner

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #17 on: February 16, 2022, 01:48:38 PM »
Just an FYI for people who have both a Platinum card and also a corporate card, they're offering new Platinum holders who also hold corporate cards $150 off the annual fee every year, ongoing.  I chatted with a representative and they were able to add this benefit to my existing card so my annual fee is remaining the same/technically going down by $5 rather than up to $695.  For any card with a fee I usually call and ask about retention offers too, not sure how that will interact since it hasn't happened yet, but it reduces the baseline.

At least for me it's been a decent card to have even during the pandemic.  I use it for very targeted purposes rather than as an everyday card ('fiddly coupon book' as Dr Kidstache put it is a pretty accurate description), but per spreadsheets am at ~$100/year benefit on top of the annual fee without counting the sign-up bonus.  Whenever I decide I'm done working and no longer have a corporate card I'll reassess given the extra $150, but for now it's worth it.  Also the Denver Centurion lounge is very nice...pretty much a free meal/drink before I get on a plane although I'm still not flying much these days (for the record I don't count that in the $100, it's just a nice perk)

WSUCoug1994

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #18 on: February 16, 2022, 03:57:21 PM »
Just an FYI for people who have both a Platinum card and also a corporate card, they're offering new Platinum holders who also hold corporate cards $150 off the annual fee every year, ongoing.  I chatted with a representative and they were able to add this benefit to my existing card so my annual fee is remaining the same/technically going down by $5 rather than up to $695.  For any card with a fee I usually call and ask about retention offers too, not sure how that will interact since it hasn't happened yet, but it reduces the baseline.

At least for me it's been a decent card to have even during the pandemic.  I use it for very targeted purposes rather than as an everyday card ('fiddly coupon book' as Dr Kidstache put it is a pretty accurate description), but per spreadsheets am at ~$100/year benefit on top of the annual fee without counting the sign-up bonus.  Whenever I decide I'm done working and no longer have a corporate card I'll reassess given the extra $150, but for now it's worth it.  Also the Denver Centurion lounge is very nice...pretty much a free meal/drink before I get on a plane although I'm still not flying much these days (for the record I don't count that in the $100, it's just a nice perk)

Bummer - the Charles Schwab card is not part of this program.  If you have a business card you need to apply through the Personal Card Annual Credit Program directly with AMEX. 

MudPuppy

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #19 on: February 16, 2022, 04:49:28 PM »
I really liked it. I had it for two years. With Covid and no longer traveling by air it no longer made financial sense. It has a TON of card perks, and the points can be exchanged as a 1% “cash back” option if you pick certain gift cards, like old navy, Home Depot.

driftwood

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #20 on: February 17, 2022, 12:37:32 PM »
Surprised that there are not a lot of Platinum card holders in this forum.
Or maybe they don't want to talk about their experiences.

I am, but don't pay a yearly fee due to being active-duty military. I need to look at the benefits again, there are some listed above that I wasn't aware of. Definitely enjoyed Global Entry when I was stationed in England, it made getting back in the US on trips a lot faster.

AMEX Travel seems pointless, they can't book anything for cheaper than I can on my own with no extra work.

exterous

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #21 on: February 17, 2022, 08:04:44 PM »
Depending on where you want to travel and how often the Platinum card does include medical evacuation coverage for you and eligible travelers just for having the card. Not quite as flexible as something like MedJet Assist but it is good piece of mind for us since we'll travel to places where good quality medical care isn't available

314159

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #22 on: February 17, 2022, 09:55:44 PM »
Yes, my GF has one, and got over 125,000 points for meeting the sign up bonus (you sign up through Resy Rest--not a referral link). However, it will be cancelled when the annual fee hits, just like all the other ones. There are plenty of cards to churn that have high annual fees with big sign up bonuses and benefits. We have one or two of these >$300 annual fee cards going between the two of us at any given time.

Jack0Life

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #23 on: February 17, 2022, 10:52:56 PM »
Yes, my GF has one, and got over 125,000 points for meeting the sign up bonus (you sign up through Resy Rest--not a referral link). However, it will be cancelled when the annual fee hits, just like all the other ones. There are plenty of cards to churn that have high annual fees with big sign up bonuses and benefits. We have one or two of these >$300 annual fee cards going between the two of us at any given time.

Are you sure ?
This looks like a referral link.
Somebody name Samuel sure is getting a lot of referral bonus.


314159

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #24 on: February 18, 2022, 05:33:52 PM »
Yes, my GF has one, and got over 125,000 points for meeting the sign up bonus (you sign up through Resy Rest--not a referral link). However, it will be cancelled when the annual fee hits, just like all the other ones. There are plenty of cards to churn that have high annual fees with big sign up bonuses and benefits. We have one or two of these >$300 annual fee cards going between the two of us at any given time.

Are you sure ?
This looks like a referral link.
Somebody name Samuel sure is getting a lot of referral bonus.


Yep, I'm sure. If you hover the URL I provided you can see it doesn't have any funny business. I don't see any mention of Samuel when I visit that link.

However, if you visited a different Amex referral link at some point in the past, the site may remember you from before. (You could test this by visiting my link in a private window.) The CC companies track you because they want to know when someone refers you for one card, and if you later end up choosing a different card.

thedigitalone

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #25 on: February 22, 2022, 05:19:39 PM »

Yep, I'm sure. If you hover the URL I provided you can see it doesn't have any funny business. I don't see any mention of Samuel when I visit that link.
[/quote]

It's not a referral link, if you are using Chrome right click -> Open in new incognito window has no mention of Samuel.

martyconlonontherun

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #26 on: February 22, 2022, 09:06:40 PM »
Love mine (Biz). Thought it was just to churn but plan on keeping it with any retention offer. $200 united travel bank, $400 Dell helps a ton. I travel for work and in laws are in PHX so probably used Centurion Five times in 8 months, and a god send for a wife who gets hunger and doesn't care airport food is expensive.

lifeisshort123

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #27 on: January 05, 2023, 07:02:37 PM »
I have had one for years.  For the past 3 years I have said I would cancel it at the end of the year.  I call to cancel and they offer me hundreds of dollars to stay.  It becomes tricky to turn it down - why?

- WalMart Plus has replaced my Amazon Prime Expense (with no Whole Foods nearby, we were basically just using Amazon Prime for 2 day shipping.).  This includes free 2-day shipping, Paramount+, Free Home delivery if/when needed, and Curbside/in store pickup.  It’s way more robust than Amazon Prime. $139 value there in my mind (cost of Amazon Prime)

- $200 in money to spend at my favorite airline.  If you do this right, it can literally be money to spend on flights. $200 value there.

- $240 to spend on streaming credits for services I use.  SiriusXM, Disney+, Hulu, Peacock, and others can all be covered if you do it right, especially if you get promotions from the networks. $240 value there.  The only streaming services I buy are the ones covered via this promotion, and don’t buy cable, and have one channel we can get via over the air antenna in our area.  This is great.  If you stack promotions with the companies, you can get SXM, Disney+, Hulu, Peacock, and Audible, and maybe NYT thrown in all for the $20 credit each month.

-$100 to spend at Saks Fifth Avenue.  $50 twice a year.  We tend to use this for certain cremes for my sensitive skin or to buy gifts for people.  $100 easy value there.

For the past three years, I have not paid more than $350 for the card each year, so I always get my money back easily.  Some years even less.  That doesn’t include the other benefits that have been nice - PreCheck, Clear, Free Breakfast at Hilton Hotels, Lounge Access when flying/traveling (which gives you free meals and drinks).

There are other benefits I use sparingly - Uber Credit of $15 a month ($35 in December I think?), Equinox Credit (have never used).  Others may know of better credits and uses.

I’m not sure I would keep the card at full-fare.  A few minuses:
- Amex MR Points for a US based customer are fairly limited.  There are complicated ways to maximize value using international partner airlines, etc. but for me I mostly am a domestic person so the MR points are hard to find great redemptions.

- I hate the idea of “prepaying” for the money I am going to get back.  I’d rather have it growing interest or have greater flexibility with my money.

- Amex Customer Service was great 10 years ago.  It has gone downhill, though I am told it is still better than Chase.  Personally, I can’t tell a difference.

- I just hate paying that fee, I really really hate it.

Villanelle

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #28 on: January 05, 2023, 07:20:42 PM »
I see this is an older thread that has been bumped.

DH and I have Amex Platinums.  They are free because Amex offers that to active duty military, which is amazing.  I don't think I could justify it a anywhere near full fee. 

The Saks credit is actually nice.  I generally go to the website, sort the sale section by lowest price, and then find some gifts for people.  2 times per year, $50 each.  (Occasionally I've gone slightly over, but that's been really nice gifts for about $10 OOP.)

Also, they seem to offer frequent credits for random things.  For a while, they had a monthly Paypal credit (IIRC, it was $15) so I paid for something I was buying anyway via paypal instead of directly from a CC.  So check back regularly with the website to see what they are offering. 

Also note that the Uber credit works for Ubereats, so if you aren't traveling anywhere that month, you can get a cheap meal delivered.

I've also had friends who had good luck with the concierge service, getting tickets for things that they couldn't otherwise find.  I've not used that, but it's something to keep in mind. 

Michael in ABQ

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #29 on: January 05, 2023, 09:49:23 PM »
I have an Amex Gold for my business. 4x points on shipping and advertising. Since I run an ecommerce business that's ~$10k of spending per month on those categories so lots and lots of points. I rarely travel so I've got about half a million points. More than enough to buy round trip tickets for our family of 8 to go see relatives over the summer (plus I think we get 25% of the points spent back).

Amex keeps sending me offers for the business Platinum card to but since I don't travel it has very little value for me.

pdxvandal

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #30 on: January 06, 2023, 10:15:02 PM »
I had one for a few years and even got them to 100% waive the $550 annual fee around when Covid hit. Got a lot of great value out of it, but once they raised the annual fee to $695, I decided to go after other SUBs such as Capital One Venture X, Chase Sapphire Reserved and Chase SW Airlines card.

EchoStache

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #31 on: January 07, 2023, 10:13:08 AM »
I have Venture X for wife and I.  We are still within first year.  Scheduling Global entry which is $100 for each of us that gets reimbursed.   I've gotten *A LOT* of value from these two cards, probably ~$2500 net after the annual fee which was paid upfront I think.  We've gotten the annual $300 travel credit back on one which nearly washes the annual fee, and Global entry will cover the rest.  I also HATE a big annual fee even if there are benefits that offset it.  On one hand there is a lot of value but on the other a lot of hassle to remember when to cancel and to make sure all the benefits are redeemed.  I'll probably cancel my card once the TSA thing is done so I don't forget before the year is up....wife still have a while left before her annual renewal.  Would like to book some travel on her card in order to get the $300 fee back, and we will probably go to the beach in March.  I also get cell phone insurance by paying our cell phone bills with the card.

Once the initial benefits on these two cards are used up, I'll almost definitely cancel them due to $395 fee each.  Tempted to just go with Fidelity 2% cash back card that deposits to brokerage.  Just soooo easy.

But in all likelihood, I'll probably sign up for two more cards with huge sign up bonuses.  $2,000+/year in free travel is not insignificant.

I also pay cash for groceries which makes it easier for me to stay on budget....but I hate not getting the 6% cash some cards offer. which could be over $700/year!   My struggle is that I feel like I probably save way more than 6% by paying cash and sticking to a strict budget, rather than swipe and pay.
« Last Edit: January 07, 2023, 01:07:05 PM by UltraStache »

Paul der Krake

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #32 on: January 07, 2023, 10:21:32 AM »
Terrible card to keep long term unless you book a ton of flights that someone else is paying for. Can't even bring your spouse in the lounges starting next month (unless you spend 75k a year).

Very much a hit-it-and-quit-it card.

We be free if we try

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #33 on: January 07, 2023, 02:39:37 PM »
Which card offers 6% cash back for groceries? We spend a ton on groceries..l

kenner

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #34 on: January 07, 2023, 04:58:17 PM »
Which card offers 6% cash back for groceries? We spend a ton on groceries..l

Amex Blue Cash Preferred.  PM if you want a referral link...the current link I can send offers $250 after $3000 spend for you (in 6mos, if approved, etc.) and $75 for me, but not sure if that's the best offer out there.

geekette

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #35 on: January 07, 2023, 05:21:21 PM »
Which card offers 6% cash back for groceries? We spend a ton on groceries..l

Amex Blue Cash Preferred.  PM if you want a referral link...the current link I can send offers $250 after $3000 spend for you (in 6mos, if approved, etc.) and $75 for me, but not sure if that's the best offer out there.
Interestingly, they're offering me $175 for a referral, with $250 back for the "referree" after $3k spend on any card they choose.  The Amex Preferred gives 6% back, but has a $95 annual fee.  There's a fee free one that offers 3% back on groceries.  That used to be enough for us, but lately...

kenner

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #36 on: January 07, 2023, 05:48:29 PM »
Which card offers 6% cash back for groceries? We spend a ton on groceries..l

Amex Blue Cash Preferred.  PM if you want a referral link...the current link I can send offers $250 after $3000 spend for you (in 6mos, if approved, etc.) and $75 for me, but not sure if that's the best offer out there.
Interestingly, they're offering me $175 for a referral, with $250 back for the "referree" after $3k spend on any card they choose.  The Amex Preferred gives 6% back, but has a $95 annual fee.  There's a fee free one that offers 3% back on groceries.  That used to be enough for us, but lately...

Yeah, that's why if people ask about cards I just let them know what I have and make an offer if there's a referral option...there tend to be so many offer variations floating around that 'here's what I've got, let me know' is about the best I can do from a reasonableness perspective.  As far as the Preferred I definitely use it more than enough to make the annual fee worth it, but other benefits also feed in, and I'm sure mileage varies.

Villanelle

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #37 on: January 08, 2023, 12:37:36 PM »
Terrible card to keep long term unless you book a ton of flights that someone else is paying for. Can't even bring your spouse in the lounges starting next month (unless you spend 75k a year).

Very much a hit-it-and-quit-it card.

Wait, what?  Damn. 

Paul der Krake

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #38 on: January 08, 2023, 12:56:22 PM »
Terrible card to keep long term unless you book a ton of flights that someone else is paying for. Can't even bring your spouse in the lounges starting next month (unless you spend 75k a year).

Very much a hit-it-and-quit-it card.

Wait, what?  Damn.
Yup, my wife is actually quite upset at this development. Biggest first world problem right there.

See the second Q on this link for official wording:
https://www.thecenturionlounge.com/info/faq/

Villanelle

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #39 on: January 08, 2023, 02:29:34 PM »
Terrible card to keep long term unless you book a ton of flights that someone else is paying for. Can't even bring your spouse in the lounges starting next month (unless you spend 75k a year).

Very much a hit-it-and-quit-it card.

Wait, what?  Damn.
Yup, my wife is actually quite upset at this development. Biggest first world problem right there.

See the second Q on this link for official wording:
https://www.thecenturionlounge.com/info/faq/

It sounds like that is just for Centurion lounges, and not for the lounge access via priority pass membership, which is free via the Amex Plat.  is that how you understand it?

I have my own Amex Platinum (my own card #), but it is part of DH's account.  I've never fully understood that differentiation, because it has never really mattered.  But some of the benefits apply to both of us, and some to only him as the Primary card holder.  I'll have to investigate to see whether my card gets me into Centurion.  We rarely travel through airports that even have Centurion Lounges, so that's not a primary attraction, but it's still nice to have. 

Paul der Krake

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #40 on: January 08, 2023, 05:41:17 PM »
It sounds like that is just for Centurion lounges, and not for the lounge access via priority pass membership, which is free via the Amex Plat.  is that how you understand it?
That's right, the policy change only applies to Centurion lounges, the Priority Pass access remains unchanged. I've gone to something like 20 different PP lounges over the year, and while some quite be quite decent, it's still a consolation prize. Given the choice I always pick the Centurion option.

lifeisshort123

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #41 on: January 08, 2023, 08:18:46 PM »
My understanding is if your spouse is a designated “authorized user” with a “Platinum Card” and not a “Gold Card”, they are allowed to use the Centurion Lounge for free even after the change.

We rarely, if ever, use the centurion lounge (last time I think was 2019), so this doesn’t affect us very much.

GilesMM

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #42 on: January 09, 2023, 07:08:37 AM »
For most us a high cost card like that is a face punch. Even if you are a huge Uber user and blow a lot of money on streaming and inflight treats, it is still a waste: the incentives are mostly crap you would not or should not spend money on otherwise.

BiggerFishToFI

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #43 on: January 09, 2023, 09:41:23 AM »
One tip on the SAKS $100 credit - Bombas socks. These things are like walking around on little clouds. You're welcome.

We're cancelling at the end of this cycle mostly due to no longer having guest Centurian lounge access.

If you want to keep the card, call and tell them you are cancelling because the fee is too high. They will most likely drop a couple hundo off the renewal price
« Last Edit: January 09, 2023, 09:44:53 AM by BiggerFishToFI »

Villanelle

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #44 on: January 09, 2023, 01:54:35 PM »
My understanding is if your spouse is a designated “authorized user” with a “Platinum Card” and not a “Gold Card”, they are allowed to use the Centurion Lounge for free even after the change.

We rarely, if ever, use the centurion lounge (last time I think was 2019), so this doesn’t affect us very much.

I wish I'd been able to use them more.  Even when we were traveling very often, we almost never went in or out of a place with a Centurion Lounge.  IIRC, the only one I've ever been in is Vegas.  Yes, they are nicer--in some cases exponentially so--then the regular Priority Pass Lounges, but they are also far less available. 

Sounds like, as an authorized user, I'll still be able to use them though, should I ever end up in the right airports. 

Catbert

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #45 on: January 10, 2023, 01:03:51 PM »
Which card offers 6% cash back for groceries? We spend a ton on groceries..l

Just be aware that both the Amex Blue cards limit the extra points rate for groceries  to 6K a year.  Good for many, but you likely spend much more than that.   Also since I don't have one, I don't know exactly which stores it doesn't cover.  For cards in general "grocery" often doesn't include Target, Costco, Walmart, etc.

Michael in ABQ

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Re: Let's talk about the Amex Platinum. Anyone have one ??
« Reply #46 on: January 10, 2023, 01:43:35 PM »
American Express just sent me a multi-page glossy booklet extolling the virtues of the Amex Platinum and telling me I'm pre-approved. Of course, they only mention the $695 annual fee in the piece of paper with tiny print they're required to send with all the details. That's never mentioned anywhere in the nice booklet - just all the amazing benefits that are of little or no value to me. If I open an Amex business checking account as well then, I can get 200,000 points for $15k of spend in 3 months. That $15k of spend will already get me 60,000 points and with no additional fees - so I'll pass.