Is this Platinum Amex card worth it? Also - Best way to use 100k AMEX reward points?
 

Let me start off by saying

A. I don't have the points yet.
B. I'd be getting these points through a TARGETED offer that I got in the mail.


The card is American Express Business Platinum.


The offer is : Get 100,000 points after spending $5000 in 3 months.
Annual Fee : $450. NOT waived the first year.
Bonus offers: $200 Airline Fee credit EACH year to cover fees such
as checked bags, inflight refreshments etc.
Complimentary access to lounges worldwide.


Now- I want to know if this offer is worth it. Would getting the points and paying $450 be worth it? What would be the best way to redeem 100k points? Would it be enough to get me a JFK-BOM-JFK ticket?


What else? I checked the amex website..but it wasn't exactly overflowing with information.:lol:


So I turn to you guys!
Thanks.:look:

This post can and should be edited by users like you :)
 

Copied from fatwallet:

How to meet credit card spending requirement (without actual spending)?
1. Serve (paypal clone) can be funded with credit cards with no fee. So fund Serve acct with amex, and withdraw funds to your bank acct to pay off amex. http://www.serve.com/how-serve-works.html#fees. max $1000 a day, $2500 a month. ironically Serve is from american express inc.
2. Amazon Payments allows you to send money without fee up to 1k each month. Don't send money for each other.
3. Paypal Send money if you still need to spending. The fee is 0.30 +2.9%. It's OK compared to the MR that you get.
4. Stock up some gift card that you'll use in the future.

How to use membership rewards smartly?
1. wait for gift card promotion. AMEX offers 10-20% off gift card sometimes
2. wait for Delta or BA promotion which can turn 1 MR to 1.5 delta or BA miles
3. transfer/sell them to the people who need it. Rewards2Cash.com is one example that offers cash for MR at 1.16-1.22 cents/point. Practice at your own risk.
3. Shop at Amazon and pay with MR. It only values at 0.7 cent each point.
5. transfer to other airline miles that you need.

I got it, but when it was only $1000 spend or something. They threw in an extra 25k on top of it. I fly overseas so the Global Entry reimbursement and Priority Pass are nice to have as well. Also got $400 in AA gift cards...they count as airline reimbursement (forgot I still have those, you reminded me :lol:)

I wound up converting all 125k points over to Avios with the bonus they had going. I fly to HYD, and yes, it is enough to fly to BOM, but you will pay taxes on BA ($500-600) even after spending 90k Avios.

Overall, got way more than the $450 fee.

For a traveler like myself, it was worth it for the first year you have to pay the $450 annual fee. Luckily, I got the first year fee waived and I'm on my 2nd year, first time paying $450. With the global entry reimbursement and the $200 airline credit each calendar year, it's worth it for me for this year. I will not renew next year though.

Lucky! I'd totally take the deal! 100k miles transfers to their airline or hotel partners and often at 30-50% bonuses. You better believe I'd pay $450 for 150,000 British Airways miles!

Add in the free lounge access and global entry and $200 in airline incidentals (note many just buy GCs in the amount of $50 and have gotten the credit) it's totally worth it.

I'd totally jump on it assuming you can meet the minimum spend!

How'd you get the fee waived? Just by calling them and asking for it to be waived? Before applying or after? If I could get it waived too, that'd be awesome!



Is the Free lounge access for life? or just for the first year? And how often do those 30-50% bonuses come along?


For a JFK-LHR-BOM-JFK trip, I looked at AAirlines and the total needed was 85,000 miles and $750 (because I'd be flying BA)
Delta would need 170,000 miles and $250!!!!!!!!!!


Compare that with Chase United that I have, that needs 80,000+$250 for the same trip.


I think using it for international travels would not be worth it for me.

I did not have to call. It just showed a fee of $0 first year in my initial paperwork. VERY lucky and very rare last year when the promo was out.

Lounge access is free as long as the card is open.

You just need to know how to leverage your miles. It takes more work but you can get that trip on both American AND Delta for the same 80,000 miles. But Delta is very hard to find low/saver awards.

You don't have to fly BA. You can always fly American as they are partners. And are there really no other transfer partners you can use? Get Singapore points and fly United or something. The % bump happens a few times a year but it is restricted I believe to a handful of partners. I've seen BA the most often.

Lounge access is only for one year (or actually as long as you have the CCard).

Could you point me in the right direction as to where I'd find this information? I have been reading a lot (frugaltravelguy, millionpoints, milepoint, flyertalk) and I have found such diverse informations. Also- everybody says- "google it". Which I almost always do before asking for help... If I had found the answer, I wouldn't be asking.


Anyway, I'd appreciate any insights.


P.S- you say, I could get the American and Delta for 80k? how?!! And what would the fees be like? Because it doesn't make sense redeeming 80k points and having to pay $750. I'd rather just use my United card then... where I can get the same trip for 80k+$250.



Since most don't allow me to search for reward flights without creating a membership with their flyer program, I should just manually search each and every airline in this list [membershiprewards.com] right? Or did you have some other method in mind? Thanks.

It depends. I have AA, BA, and United accounts. If you've got AA you can search AA and BA. If you've got BA you can search AA/BA. If you've got UA you can search UA and Singapore.

But ya, apart from those partners who do show availability on-line for partners (and the ones you need) it'd be necessary to search each airline. Rather than create a membership for each just see first off if they even fly the route (if you were to pay $$ for example) and then search award availability.

Heck, worst case isn't 100,000 AMEX MR points transferrable to roughly $1,000 USD or $1,000 in Gift Cards to Amazon or Home Depot or something? Pocketing $500 sounds like a pretty good deal to me :D

Technically I'd get more than 100k because I'd earn points on the $5000 required to earn the 100k.
And yeah..you do have a point about $500 still being a good deal! :nod:
I'm just worried about hitting the 5k. Shouldn't be a problem..but just worried because I'm always paranoid. If by any chance, I don't hit it...I'd have paid a $450 annual fee for nothing.


P.S- if I've booked my ticket via United, could I still use my card to access (delta,BA,AA etc) lounges around the world, via this card?

I believe some yes although there are restrictions. I'm not completely sure on all of them but I do know that most lounges require you to be travelling with them the day you visit while others do not.

http://www.americanexpress.com/la...nges.shtml

GOT THE CARD! :bounce::bounce::bounce::bounce::bounce::bounce:


Confirmed that I would get access to ANY lounge regardless of ticket.


Also confirmed that Amex would cover the $100 fee for Global Entry.


That ($100) + the fact that I can redeem the $200 airline fee reimbursements by buying AA gift cards = $300 already towards the $450 fee.
Which cinched it for me.


Called this morning and was instantly approved. :lol:

P.S- I remember that you said that you'd take this deal if it was offered to you, well.. on the back of the letter along with the T&C, it mentions a Bonus ID...:confused:
A2M6. Try it out. See if it works. You can tell the agent, that you threw out the letter! :lol:If it works for you, do let me know! :)

I'm not sure how they determine the annual fee. I paid the first year, but for some reaason didn't get a fee the 2nd year (which I'm in now). I'm not sure if it has to do with usage or something else, but obviously I'm very happy about it. Some kind of keep quiet, and don't get screwed policy.

When I was approved, I asked them when would I be hit with the annual fee? I was told that it could take anywhere from 2 to 5 months?!!
Though I do hope you don't get the fee! ;)


Also- apparently the $200 reimbursement is every CALENDAR year...So i can get $200 now and $200 in January. Plus $100 reimbursement for Global Entry + all those lounges+ additional 100k bonus points = TOTALLY worth it!


I was also looking at their additional benefits for members and the list is PRETTY staggering. I could get Platinum status at Starwood because I have Platinum here. Travel insurance, Property insurance!! Car rental Insurance.


Epic. :bounce:

Right, my initial plan was to use the $200 last Dec and again in Jan, it worked out perfectly and I got $400 worth. I figured I'd cancel after, once I got hit with the fee and I'd just have it prorated. I waited to see if I'd get hit with the fee...and I never did. Been 4-5 months now.

Return Protection and AMEX Extended Warranty on purchases is a great benefit as well.

I'm aiming for the JPM Palladium ;)

"EARN 35,000 BONUS POINTS WITH $100,000 ANNUAL SPEND AND AN ADDITIONAL PURCHASE*"
Mother of Christ!

P.S- I have a trip coming up...I'd need to spend 80k in points and $250 in fees. What has a better chance of reimbursement? the $250 in fees or buyin 4 $50 United gift cards?

You get Gold status at Starwood, not Platinum.

And just to bring the card back down to Earth a bit, you do realize that most other cc's have the other benefits you mentioned - travel insurance, car rental insurance, purchase protection, extended warranty, etc.

I realize that Visa and others offer all these services. The reason why I was pleased with AMEX was the level of coverage.
For Example-
Purchase Protection- AMEX offers upto $10k for any one incident. VISA offers upto $500.
Travel Insurance - A flat rate of $25 gets me PRIMARY insurance and utp $100k in coverage against theft and damage.
Emergency Travel Assistance and Travel Accident Insurance. : read this [thepointsguy.com].


Now I'm not gloating over the fact that I now have this card (heck maybe I am...just a little:lol:)
It's just that I was very undecided whether to apply or not because of that fee. And since I have some major trips coming up this year, this card seems like a very good deal. :woot:

And you're right about getting matched to Gold status with Starwood. I misread that bit.

Oh I know all the benefits. I've had mine for a few years now. Just to make sure, if you're not planning on renewing the card and paying the annual fee, don't buy things and expect extended protection. For a claim to even be put in, the card has to be open and in good standing. That's kind of an obvious point but worth noting.

But what about claims put in for lost or stolen items? I have the card till next June. So won't I have all these protections till then? won't the card provide insurance against items lost/stolen that were bought with this card? basically, as long as I have the card, I'm good right?


also- I'm really thinking about keeping this card. All depends on how much travel comes up in the next year. If not a lot, then I'll probably cancel it. But if I'm travelling even twice, then I'll hold on to it!


Thanks!

Sorry to bring up an old thread but how would one go and buy the UA gift cards with the platinum card, does it go against point balance ?

What? Buy them the way you would any UA gift card. It goes against your spend but then you get it back. if you're worried spend $3,201 on the card to get the 100k points. No biggie.