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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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Would have been easy $1000-1500 spend on food which would have been another 15K MR points!!
I was just recently disappointed when our current 2.5% card benefit went away because that was "good enough" in my opinion. Now I'm looking at cards that offer nil spending rewards, or travel cards that aren't really compatible with my non-travel lifestyle. Not much time to travel while raising kids and building careers. I think I'll hold off on Amex Platinum until closer to retirement. Who knows what the annual fee will be then.
Yeah I hear you. Some people either treat this as their hobby and get enjoyment out of it- think "coupon clipper" type personalities or they are relatively poor and this is the only way they can travel. Nothing wrong with that but many people with high salaries frankly don't have time to churn and can make more money by spending their time actually working at their job or business. I used to be into churning quite a bit when I was "poor". But now that I pull down mid six figures, it just isn't worth my time anymore. I spend enough money on general spend as it is so I don't have to churn. I have trouble even spending the points that I earn on every day spending as it is. My hope is that someday they will abolish signup bonuses or at least limit everything to once per lifetime and just increase benefits associated with everyday spend.
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150k pts is $1650 in cash with a Schwab card (potentially far more if used for certain travel)
Plus you get a slew of credits (of varying degree of usability) worth many hundreds of dollars more, most of which you can double-dip since they're calendar year based.... plus access to the best airport lounges around (though be aware you stop getting free guest access in Feb 2023 unless you spend a TON on the card)
For most folks this isn't a long-term keeper card (unless either you fly a lot out of a home airport with a centurion and you can get most of the value out of even the weirder monthly credits) but it's certainly highly profitable as a signup/holding for a year.... (sometimes a second depending if retention is offering anything decent- though the loss of free guests will ding that some)
If you don't travel ever it's still highly profitable for the first year above its annual fee.
It's unlikely to be profitable after that (unless you get a really good retention offer- which CAN happen and make it worth keeping a second year too- though that'd be more marginal for someone who NEVER travels)
Someone who travels "not much" but some- like a couple of flights a year, would get even more value out of it (and might have an easier time making it profitable in a second year with a good retention offer).
So tl;dr:
Worth quite a bit year 1 for everyone.
Potentially worth anywhere from not-at-all to decent bit year 2 depending on person and retention offer.
Not worth it in year 3+ for most (but not all) folks depending how many of the $1500+ a year in credits you can get use of (and how much you'd get from lounge access too)
(and technically there ARE enough non-travel credits to make it worth keeping even in year 3 for non-travellers....There's like $1000 a year in credits requiring zero travel but you'd have to be using most of em pretty heavily to make up the AF in a year you get no signup bonus and no retention bonus... much easier to do when you can also get something out of the additional $500+ in travel credits a year...)
Potentially useful is the $15/month on Uber/UberEats if you use those services plus the CLEAR credit if you do travel.
Credits are only valuable if you'd use them anyway, really. Walmart+ for free? great, but I don't use it. Same goes for Uber, Saks, etc.
Think of it this way - don't use the bennies as an excuse for paying the AF when you can just pay for the benefits OOP.
Also, GE benny is so prevalent, there are tons of cards offering that.
"Save up to 10¢ per gallon at Exxon, Mobil, Walmart, & Murphy stations
Access member prices at Sam's Club fuel centers
Over 14,000 convenient locations in 48 states"
https://www.walmart.com/plus/fuel...xon-01-L-N
This is great for me, as I am not near a Sams... so now my family can use the app and save $ on gas that is not at a club, and closer to work and home.
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Definitely this with 150K bonus points.