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150k Amex Platinum Offer
American Express is offering a 150k bonus offer on its American Express Platinum card. Still has a $695 annual fee, but this is the highest I've seen.
https://www.americanexp
https://www.americanexp
Created 04-11-2022
at 11:50 AM
by Tennistucan
in
Credit Cards
(4)
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Also applies to 1-night stays through the FHR collection too, which is how we used ours this year.
The airline credits - I only show $200 - are also only on "incidentals" - good if you pay for incidentals (baggage fees, onboard food), but not good towards plane tickets which would be easier to use.
The big value in Amex is airline transfers, which is how I use 99.9% of my amex points.
The other 0.1% is when Amazon, usually several times a year, offers some % off purchases if you use any MR points (so I spent 1 point to get the discount and pay the rest on a card)
that's not remotely a lot of spend.
I'm knocking out a ton more than that on sign-ups this month alone just paying taxes!
Amex does not typically match bonuses like that, no.
Also usually the "upgrade bonus" offers aren't worth doing at all unless it's on a card you've already had before (since they let you bypass the once per lifetime restrictions)
The increased bonus here is due to the annual fee having increased so much in recent years.
Amex used to offer 100k signup bonuses back when the annual fee was only $450, a mere 5 years ago.
Then when they bumped the fee to $550 you'd start to sometimes see 125k offers.
Now the fee is up to $695, so they've bumped their top bonus to 150k.
Chase, FWIW, has seemed more interested lately in pushing their lower/mid range cards anyway--- the freedom flex changes, and the improvements to the CSP, were much more significant than anything they've seemed interested in doing for the CSR.
And over at Citi they've entirely abandoned the premium credit card market- shutting down the Prestige for new applicants some time ago.
Beyond those in this market you've got the USB Altitude Reserve which is... fine I guess? You can usually get annual retention offers of 5-10k points which on top of the broad travel credit means it's worth keeping- but it's not terribly exciting either, with the most interesting use being online spend, and the fact it's the only thing besides the CSR offering primary rental insurance for free.
And now you've got the Cap One high end card- which is actually pretty decent but has a very limited lounge network right now, and no domestic airline partners....Plus they seem super picky about giving out more than 1 or 2 cards to anybody.
I've found MR points much more difficult to use however, as Chase/Capital One miles can be stupidly easy to use in comparison. Finding the juicy CPP redemptions with limited time and flexibility has been too difficult with MR. I plan to just redeem some business class flights for my retired parents to Asia and just trade them the cash they have spent on an economy flight, and/or cash out with Schwab.
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The increased bonus here is due to the annual fee having increased so much in recent years.
Amex used to offer 100k signup bonuses back when the annual fee was only $450, a mere 5 years ago.
Then when they bumped the fee to $550 you'd start to sometimes see 125k offers.
Now the fee is up to $695, so they've bumped their top bonus to 150k.
Chase, FWIW, has seemed more interested lately in pushing their lower/mid range cards anyway--- the freedom flex changes, and the improvements to the CSP, were much more significant than anything they've seemed interested in doing for the CSR.
And over at Citi they've entirely abandoned the premium credit card market- shutting down the Prestige for new applicants some time ago.
Beyond those in this market you've got the USB Altitude Reserve which is... fine I guess? You can usually get annual retention offers of 5-10k points which on top of the broad travel credit means it's worth keeping- but it's not terribly exciting either, with the most interesting use being online spend, and the fact it's the only thing besides the CSR offering primary rental insurance for free.
And now you've got the Cap One high end card- which is actually pretty decent but has a very limited lounge network right now, and no domestic airline partners....Plus they seem super picky about giving out more than 1 or 2 cards to anybody.
Also applies to 1-night stays through the FHR collection too, which is how we used ours this year.
It CAN be used toward tickets, though it requires a little more effort.
Amex isn't usually worth transferring points for hotels (unlike Chase, where Hyatt transfers can offer decent value).
The big value in Amex is airline transfers, which is how I use 99.9% of my amex points.
The other 0.1% is when Amazon, usually several times a year, offers some % off purchases if you use any MR points (so I spent 1 point to get the discount and pay the rest on a card)
that's not remotely a lot of spend.
I'm knocking out a ton more than that on sign-ups this month alone just paying taxes!
Amex does not typically match bonuses like that, no.
Also usually the "upgrade bonus" offers aren't worth doing at all unless it's on a card you've already had before (since they let you bypass the once per lifetime restrictions)
The top 10% of all earners pay 71.4% of it.
The top 1% alone pay about 40% of it.
Though FWIW a decent bit of the income I'm paying taxes on IS options related-- in this case generating significant income from selling weekly option spreads.
This year we're doing the Ink Preferred 100k signup for myself and my spouse- which is 15k spend on each, for 100k chase points....so 30k total spend.
Last year we did similar with Amex Plat business 15k spends.
Unfortunately the IRS only lets you do 2 credit card payments a year- so I can only do the 2 signup bonuses with this bill, and have to pay the rest via a bank transfer.
I do get to usually knock out one more for state tax bill at least.
I'm hoping next year Cap One brings back their big bonus on the Spark card which would have accommodated 50k spend per card.
yes they do.
1.87%
Which is vastly lower fees than the profit from doing signup bonuses of course. Usually the reward value just on the spend itself (without the bonus) offsets the fee.
How come no one has pointed out you have to spend 6k in the first 6 months to get the 150k points? That's a lot of spend.
$1k/mo spending is NOT substantial. I'm at a point in life where $2.5k/mo is a baseline. Get a family and welcome to an adult's financial responsibilities.
That's why they're offering the perk. Not many cardholders might redeem costing Amex less. Honestly, many high net-worth consumers are extremely interested in the catered treatment that these programs offer. I routinely shop at Walmart although I can afford better. If I can submit an online order, not have to walk around the zoo which is shopping at Walmart, and have them bring my purchase out to my car, that is an amazing service that many customers (rich and poor) currently utilize. Its a wonder that it took a global pandemic to get people to make that toggle. Many will never go back because the time savings are considerable.
The top 10% of all earners pay 71.4% of it.
The top 1% alone pay about 40% of it.
Though FWIW a decent bit of the income I'm paying taxes on IS options related-- in this case generating significant income from selling weekly option spreads.
This year we're doing the Ink Preferred 100k signup for myself and my spouse- which is 15k spend on each, for 100k chase points....so 30k total spend.
Last year we did similar with Amex Plat business 15k spends.
Unfortunately the IRS only lets you do 2 credit card payments a year- so I can only do the 2 signup bonuses with this bill, and have to pay the rest via a bank transfer.
I do get to usually knock out one more for state tax bill at least.
I'm hoping next year Cap One brings back their big bonus on the Spark card which would have accommodated 50k spend per card.
yes they do.
1.87%
Which is vastly lower fees than the profit from doing signup bonuses of course. Usually the reward value just on the spend itself (without the bonus) offsets the fee.
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